Norsat International, Inc., is a renowned name in the broadband communication industry. In business since 1977, Norsat has been providing intelligent satellite communications solutions for enabling the transmission of data, audio and video in remote and austere environments. Norsat, which offers a range of products and services including microwave components, portable satellite systems, maritime solutions, wireless network solutions, and equipment financing, recently won several government contracts exceeding $4.2 million in total value over the past few weeks.
In a press release, Norsat International (News - Alert) informed the industry that it has won the lucrative contracts for Norsat satellite terminals. The $4.2 million order was awarded to support a number of US government organizations.
However, despite winning the contracts, the profits will not be reflected immediately. The company explained that compared to the prior year, these orders were received late in the third quarter. Naturally the shipments will also be made latter during the fourth quarter. Due to the timing of these orders, revenues for the third quarter ended September 30, 2010 are anticipated to be below levels reported in 2009. The Company expects third quarter results to remain profitable when announced on Oct. 28.
“I'm pleased with these recent contract wins. While the timing is something we can not control and can disrupt quarterly results at times, the key importance for us is that these orders have been placed, are funded and are now in our backlog. Particularly satisfying are that several of these orders are for new products that we have developed in consultation with customers. We look forward to releasing these new products to the general market in the fourth quarter. I believe that these wins are a direct result of how Norsat can leverage its strengths, especially by listening to what our customers are seeking and delivering on their exacting requirements,” commented Dr. Amiee Chan, president and CEO of Norsat.
Earlier in the year, Norsat International Inc was awarded a $1.7 million network service contract by a military based in Europe. According to the company CEO, that contract was an important win for the company as it signaled a deeper penetration of the European military market for both equipment and network management and also enhanced the company’s global positioning as a complete connectivity solutions provider. Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Jaclyn Allard