Vancouver, Canada – September 22nd, 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 been awarded a $5.5 million contract by the US Department of Defense (“DoD”) to provide portable satellite terminals, ancillary equipment and associated implementation, training, and maintenance services. The contract will be fulfilled over the next six-months. All amounts are expressed in US dollars unless otherwise stated.
“This sizable contract win demonstrates our continued success in building our satellite systems business, and highlights our position as a key supplier to the US DoD,” said Dr. Amiee Chan, President and CEO, Norsat International Inc. “In 2008, we have added two product families to our suite of offering to date, expanding our reach into the maritime and vehicle mount satellite system markets. We believe as we leverage our technology expertise to further expand our portfolio of portable satellite systems, we will continue to grow our user base in the government and commercial industry sectors worldwide.”
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:
Pervez Siddiqui
Vice President, Marketing
Tel: 604 821-2850
Email: psiddiqui@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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