C-COM Reports Profit Spike Amid Revenue Dip

C-Com Satellite Systems (TSE:CMI) has released an update.

C-COM Satellite Systems Inc. has reported a decrease in annual revenues by 29% for the fiscal year 2023, yet showcased a substantial rise in net income by 47% due to improved gross margins and reduced administrative expenses. Despite challenging economic conditions, the company has managed to increase its working capital and maintain solid liquidity, while also paying out dividends. Looking ahead, the company is focusing on the development and upcoming field tests of its innovative Electronically Steered Phased Array antenna system.

For further insights into TSE:CMI stock, check out TipRanks’ Stock Analysis page.