C-Com Reports Second Quarter Results

Financial Performance - The company generated revenues of $2,580,514 and net income after taxes of $61,072 in Q2 2024, with overall gross profit margins at 57.5% [2] - Year-to-date cash flow from operations reached $1.5 million, representing a $3.3 million positive swing compared to the same period last year [15] - The company paid out $528,081 in dividends during Q2 2024, slightly up from $522,330 in Q2 2023, maintaining its quarterly dividend payout for the 49th consecutive quarter [15][13] Working Capital and Dividends - The company's working capital for Q2 2024 was $25.2 million, an increase of $0.8 million from Q2 2023 [3] - A quarterly dividend of $0.0125 per common share will be paid on August 13, 2024, representing an annualized yield of 4.2% based on a closing price of $1.19 per share on July 12, 2024 [4] Market Opportunities and Product Development - The company has received a large first order from a new reseller in Brazil, indicating significant market opportunities in South America [5] - The primary R&D focus is on the development and commercialization of the next generation Ka-band Electronically Steered Antenna System (ESA), with initial deliveries for field testing expected by the end of 2024 [6][8] Company Overview - C-COM Satellite Systems Inc. is a leading global designer, developer, and manufacturer of transportable and mobile satellite-based antenna systems, with over 10,000 antenna systems sold in more than 100 countries [7][18] - The company is engaged in the design of a unique multi-orbit antenna aimed at providing low-cost, high-throughput mobility applications over satellite [8]