Mr. Leslie Klein reports

C-COM REPORTS PROFIT IN SECOND QUARTER

C-Com Satellite Systems Inc. has released financial results for the second quarter ended May 31, 2014.

Revenues for second quarter were $3,754,738, and the company generated a net after-tax profit of $782,188 or two cents per share. This compared with second quarter 2013 when total revenues were $4,795,627 with a net after-tax profit of $966,997 or three cents per share, representing a decrease of 21.9 per cent in revenues and 19.1 per cent in net after-tax profit.

C-Com had an income tax provision of $500,820 in fiscal 2014, versus $428,463 in fiscal 2013.

The working capital of the company at May 31, 2014, has increased 12.8 per cent to $19,149,209 compared with $16,975,564 at May 31, 2013.

"This is our 40th profitable quarter out of the last 41 quarters," said Leslie Klein, president and chief executive officer of C-Com Satellite System. "While this year's second quarter results are lower than last year's, historically, this quarter of our fiscal year is slow. The second quarter of fiscal 2013 was the company's second largest in the company's history.

Revenues increased approximately $1.4-million over first quarter 2014. The continued profitability during the second quarter of 2014 is largely attributable to repeat orders from our large base of loyal customers worldwide," continued Mr. Klein. "We are signing up new resellers and opening new vertical markets with our next-generation products, which are contributing to this revenue growth."

The company also announced the payment of an eligible dividend in the amount of 1.25 cents per common share payable on Aug. 21, 2014, to all shareholders of record as of Aug. 7, 2014. Based on its closing price of $1.44 per share on July 21, 2014, this quarterly dividend would provide a yield of 3.47 per cent on an annualized basis. This dividend is part of the company's continuing practice of returning value to its shareholders through a quarterly dividend.

C-Com continues to innovate with the development of new products for new markets and is expanding its worldwide reseller network for its proprietary iNetVu Mobile antenna systems. It also continues to establish new partnerships with companies around the world interested in combining the capabilities of the iNetVu antennas with the products and services they offer.