Mr. Leslie Klein reports

C-COM REPORTS SECOND QUARTER RESULTS

C-Com Satellite Systems Inc. has released its financial results for the second quarter ended May 31, 2019.

The company has generated revenues of $2,566,595 and a net after-tax profit of $267,342, or one cent per share. This compared with revenues of $2,721,913 and a net after-tax profit of $282,044, or one cent per share, as reported in 2018, representing a decrease of 5.7 per cent and 5.2 per cent respectively.

The working capital of the company increased by 8.3 per cent to $20,963,765 at May 31, 2019, as compared with $19,354,817 at May 31, 2018.

The company also announced the payment of its eligible quarterly dividend in the amount of 1.25 cents per common share, payable on Aug. 20, 2019, to all shareholders of record as of Aug. 6, 2019. Based on the closing price of $1.84 per share on July 22, 2019, this dividend represents a yield of 2.72 per cent on an annualized basis. This is the company's 29th consecutive quarterly dividend and its 33rd consecutive profitable quarter.

The company paid out $470,894 in dividends during the second quarter, compared with $463,182 in the second quarter of 2018, representing a 1.7-per-cent increase. The company has maintained its quarterly dividend payout while continuing to innovate and invest into the next generation of advanced antenna products.

"We are pleased with the results for this quarter," said Leslie Klein, president and chief executive officer of C-Com. "The iNetVu mobile antenna continues to be in great demand from customers around the world who value cost-effective and reliable solutions," Mr. Klein continued.

In May, C-Com announced a significant order for its new iNetVu backpack antenna systems. "The first 100 units of the carbon fibre MP-100 Manpack antenna are now in production and will be delivered to a key Asia partner in the third quarter of this fiscal year," Mr. Klein said. "These one-case, light-weight, fully motorized, auto-pointing backpack antenna systems are expected to provide new solutions for the military, government, emergency responder, disaster management and a number of other vertical markets," Mr. Klein added.

The company is making good progress with its research and development of a flat panel phased array solution. "We have recently demonstrated the successful transmit and receive capabilities of this novel electronically steerable phased array antenna, which is being developed jointly with the University of Waterloo CIARS department," Mr. Klein continued.

About C-Com Satellite Systems Inc.

C-Com is a leader in the development, manufacture and deployment of commercial-grade mobile satellite-based technology for the delivery of two-way high-speed Internet, voice over Internet protocol and video services into vehicles. C-Com has developed several proprietary mobile auto-deploying (iNetVu) antennas that deliver broadband over satellite into vehicles while stationary virtually anywhere where one can drive.

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