Vancouver, Canada - October 1st, 2008 - Norsat International Inc. (”Norsat”) (TSX - NII.TO; OTC BB - NSATF.OB), a leading provider of intelligent ground-based satellite solutions, announced today that its US subsidiary has signed satellite system contracts, totaling approximately $1.2 million, with the U.S. Department of Defense (”DoD”). The contracts are expected to be fulfilled in the company’s fourth quarter. All amounts are expressed in U.S. dollars unless otherwise stated.”This is our third recent announcement of significant new business with the U.S. DOD,” said Dr. Amiee Chan, President and CEO, Norsat International Inc. “We believe these successive contract wins are evidence of the growth momentum in the ground satellite systems industry. We will continue working to grow our suite of technology and associated services to capitalize on the market opportunity and drive further success in our satellite systems business.”
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent satellite solutions for high-speed data transmission. The company’s portfolio of capabilities include: microwave components; fixed, transportable, ultra-portable, vehicle-mounted and maritime satellite systems; turnkey maritime navigation and communications systems; and end-to-end network services. Norsat is headquartered in Vancouver, Canada, with offices in Annapolis, Maryland; Lincoln, United Kingdom; Stockholm, Sweden; Monte Carlo, Monaco; Rome, Italy; and Daejeon, South Korea. Additional information is available at www.norsat.com, via email at investor@norsat.com or by phone at 1-604-821-2808.
For further information, contact:
Amiee Chan
President and CEO
Tel: 604 821-2808
Email: achan@norsat.com
Kristen Dickson
The Equicom Group
Investor Relations
Tel: 416-815-0700 x 273
Email: kdickson@equicomgroup.com
Forward Looking Statements
Statements in this news release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third party manufacturing, managing rapid growth, global sales risks, limited intellectual property protection and other risks and uncertainties described in Norsat’s public filings with securities regulatory authorities.
This information should be read in conjunction with Norsat’s audited consolidated financial statements and related notes included therein for the three months ended June 30th, 2008, and the Management Discussion and Analysis for the three months ended June 30th, 2008. All of the company’s financial statements are prepared in accordance with Canadian generally accepted accounting principles (Canadian GAAP). Additional information may be found at www.norsat.com.
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