(Vancouver, Canada) May 31, 2007, 05:00 EST – Norsat International Inc. (TSX – NII.TO; OTC BB – NSATF.OB), a leading provider of intelligent satellite solutions, made the final payment on its US $1,028,227 short term debt yesterday. This marks the first time since 1983, that the company has been debt free.“This is a significant milestone in the company’s renewal efforts. The pay down clearly demonstrates our resolve to strengthen our financial foundation on a compressed schedule,” said Dr. Amiee Chan, president and CEO, Norsat International Inc.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. Additional information is available at www.norsat.com. Further information is available through email at investor@norsat.com or by phone, 1-604-821-2808.
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Norsat International Inc. Contact:
Dr. Amiee Chan
+1 (604) 821-2808
achan@norsat.com
Norsat Reports Second Consecutive Quarterly Profit
(Vancouver, Canada) May 15th, 2007, 05:00 EST - Norsat International Inc. reported first quarter earnings of $ 0.54 million or $ 0.01 earning per share, representing its second consecutive quarter of net profit. The earnings improvement was helped by the introduction of new products and buoyant sales in both business units.
The company reported first quarter sales of $ 4.4 million, gross margins of 53%, and a net profit of $ 0.54 million, or $ 0.01 earning per share on a diluted basis. These results represent a substantial improvement over the same period last year. For the same period last year, Norsat reported sales of $ 2.9 million, gross margins of 39%, and a net loss of $ 1.8 million, or a loss per share of $ 0.04 on a diluted basis.
“We are pleased by the emerging pattern of profitable growth,” said Dr. Amiee Chan, president and CEO, Norsat International Inc. “Our financial model seems to have weathered a seasonally slow quarter. The prevailing geopolitical uncertainty is naturally helping and providing a new momentum.” [ more ›› ]
The European Space Agency (ESA) is supporting an emergency response system designed to help European governments coordinate their actions during emergencies and save lives.
By identifying and mapping occurrences such as hurricanes, tsunamis and earthquakes, as well as medical emergencies, the service will communicate vital information to agencies that will be able to react to disaster scenarios more quickly and efficiently. [ more ›› ]
The intelligence community is concerned about the widespread availability of satellite images on sites like Google Earth. The little-known National Geospatial-Intelligence Agency says the government may act to restrict distribution, the Associated Press reports.
“If there was a situation where any imagery products were being used by adversaries to kill Americans, I think we should act,” Vice Adm. Robert Murrett, director of the National Geospatial-Intelligence Agency, said Tuesday in a rare interview at his office in Bethesda, Md. [ more ›› ]
BERLIN–The European Commission is abandoning plans to build a satellite navigation system in partnership with private industry after the consortium chosen for the project became mired in disputes about financing, jobs and management structure, officials said on Wednesday.
The commission, which is expected to announce its decision on Thursday, is most likely to propose instead that the $9.5 billion project, known as Galileo, be wholly financed by the public sector. [ more ›› ]
(Falls Church, Virginia) May 4th, 2007, 06:00 EST – Norsat International (America) Inc. advises that it is a team member of a winning consortium which has been awarded a major satellite communications contract. The consortium is one of 24 awardees of a five-year indefinite delivery, indefinite quantity contract under the SATCOM-II program.
As an indefinite delivery, indefinite quantity contract, the 24 awardees must still compete for individual opportunities and there is no obligation on the part of the United States government to purchase any quantities during the term of the contract. [ more ›› ]
