PR Newswire
VANCOUVER, May 3, 2017
- Management to Host Conference Call at 8:30 am Pacific Time (11:30 am Eastern Time) -
VANCOUVER, May 3, 2017 /PRNewswire/ - Norsat International Inc. ("Norsat" or the "Company") (TSX: NII and NYSE MKT: NSAT), a provider of unique and customized communication solutions for remote and challenging applications, today reported financial results for the first quarter ended March 31, 2017.
Quarter Highlights
"While first quarter revenue and profitability were lower than the comparable period in 2016, we have experienced solid quoting and booking activities. For our Satellite Communications division, we secured several larger orders which include an approximately $3.3 million order for our satellite terminals from a U.S. government organization, building a strong backlog for the remainder of the year. The business opportunities for the Sinclair Technologies division also look steady," said Dr. Amiee Chan, President and CEO of Norsat. "We also continued to manage our cost structure while also challenging ourselves to develop and market new products and solutions. During the quarter, we have announced the expansion of our Ka-band product lines with the launch of the ATOM 50 Watt Ka-band BUCs and SSPAs, and industry leading 4- and 5-band LNBs to meet the broadest range of customer needs," added Dr. Chan.
A full set of financial statements and Management's Discussion and Analysis for Norsat is available at www.norsat.com and will be available at www.sedar.com.
________________________________________ |
Conference Call Details
Norsat will host a conference call today, May 3, 2017 at 8:30 am Pacific Time (11:30 am Eastern Time) to discuss its fiscal year 2017 first quarter financial results. To access the conference call, please dial toll-free 1-888-886-7786 or 416-764-8658. The conference call title is: 'Investor Call – Q1 2017'. Please connect approximately 10 – 15 minutes prior to the beginning of the call to ensure participation. A digital recording and transcript of the call will be available after the live call at: http://www.norsat.com/investors/financial-information/conference-call-recordings/
Norsat International Inc. | | | ||
Condensed Interim Consolidated Statements of Financial Position | | | ||
(Expressed in United States dollars) | | | ||
(Unaudited) | | | ||
| | | ||
| | | ||
| March 31, 2017 | December 31, 2016 | ||
ASSETS | | | ||
Current assets | | | ||
Cash and cash equivalents | $ | 15,626,931 | $ | 15,044,742 |
Trade and other receivables | 8,074,508 | 8,263,447 | ||
Inventories | 10,807,251 | 10,462,354 | ||
Prepaid expenses and other | 393,569 | 332,676 | ||
| 34,902,259 | 34,103,219 | ||
Non-current assets | | | ||
Property and equipment, net | 564,916 | 616,495 | ||
Intangible assets, net | 4,073,121 | 4,176,244 | ||
Goodwill | 4,097,751 | 4,097,751 | ||
Investment tax credits recoverable | 4,875,031 | 4,820,185 | ||
Deferred income tax assets | 1,081,300 | 1,185,907 | ||
| 14,692,119 | 14,896,582 | ||
Total assets | $ | 49,594,378 | $ | 48,999,801 |
| | | ||
LIABILITIES | | | ||
Current liabilities | | | ||
Trade and other payables | $ | 1,530,715 | $ | 2,774,889 |
Accrued liabilities | 2,950,388 | 2,685,970 | ||
Warranty provision | 1,030,962 | 869,259 | ||
Deferred revenue | 2,217,408 | 1,217,083 | ||
| 7,729,473 | 7,547,201 | ||
Non-current liabilities | | | ||
Long-term provisions | 2,051,884 | 1,863,542 | ||
Long-term deferred revenue | 62,098 | 70,014 | ||
Total liabilities | 9,843,455 | 9,480,757 | ||
SHAREHOLDERS' EQUITY | | | ||
Issued capital | 40,016,360 | 40,016,360 | ||
Treasury shares | (431,208) | (431,208) | ||
Contributed surplus | 4,325,028 | 4,276,584 | ||
Accumulated other comprehensive loss | (4,419,838) | (4,395,651) | ||
Retained earnings | 260,581 Werbung Mehr Nachrichten zur NORSAT International INC NEW Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |