Globecomm Systems, a provider of satellite-based communications infrastructure services, has posted a net income of $0.9m, or $0.05 per diluted share, for the second quarter of fiscal 2009 ended December 31, 2008, compared to a net income of $3.7m, or $0.18 per diluted share, in the second quarter of fiscal 2008.
Adjusted EBITDA for the second quarter of fiscal 2009 decreased to $3.1m as compared to $5.2m in the second quarter of fiscal 2008. Total revenues for the second quarter of fiscal 2009 decreased to $39.97m from $54.45m in the same period of fiscal 2008.
Total revenues for the company’s fiscal 2009 six-months ended December 31, 2008 decreased 14.9% to $82.3m, compared to $96.8m in the same period of fiscal 2008. Net income for the company’s first six-months of fiscal 2009 decreased to $1.8m, or $0.09 per diluted share, compared to net income of $6.7m, or $0.34 per diluted share, in the same period of fiscal 2008. Adjusted EBITDA for the company’s first six-months of fiscal 2009 decreased to $6.1m as compared to $9.8m in the same period of fiscal 2008.
David Hershberg, chairman and CEO of Globecomm, said: Although we are disappointed by our results at this point in the current fiscal year due to delays in certain anticipated infrastructure bookings, we are encouraged by the recent bookings levels as reflected in our recent announcements and the performance of our service business.
