BeaconEquity.com announces the publication of an article announcing Norsat International’s 2008 fourth-quarter and year-end financial results.
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In the article the author writes:
“Norstar International Inc. (OTCBB: NSATF), a leader in designing, engineering and marketing intelligent satellite products for high-speed data transmission, recently reported fiscal fourth-quarter and year-end results ended December 31, 2008. … Revenue for the year increased 10% to $18.1 million in 2008, compared with $16.5 million for 2007. The company attributes the growth in revenue to ‘increased penetration of the portable satellite systems market.’ The Vancouver, BC-based company's satellite systems revenue increased 28.8% to $9.4 million, compared with $7.3 last year. Revenue from its microwave products business fell 4.4%, from $9.1 million for 2007 to $8.7 million for 2008.”
Norsat International secures a contract order from the U.S. Department of Defense at the end of the third quarter worth $5.5 million:
“The company notes the fourth quarter is historically the strongest quarter, with this year as no exception as it secured a contract order at the end of the third quarter from the U.S. Department of Defense (DoD) worth $5.5 million of revenue. Norstar expects any orders placed by the DoD will be made by the end of the company's third quarter because U.S. Military year-end is September 30, leading to deliveries to the DoD during the company's fourth quarter. As a result, Norstar reported a backlog of orders of approximately $4.3 million entering 2009.”
To read the entire article visit http://www.beaconequity.com/m
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Source: BeaconEquity.com
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