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Globecomm Q3 net income down

Total revenues declined to $38.59m from $43.29m for the third quarter of fiscal 2008

By CBR Staff Writer

Globecomm Systems, a provider of satellite-based communications infrastructure services, has posted a net income of $542,000, or $0.03 per diluted share, for the fiscal third quarter ended March 31, 2009, compared to a net income of $3.42m, or $0.17 per diluted share, for the third quarter of fiscal 2008.

Total revenues for the third quarter of fiscal 2009 declined to $38.59m from $43.29m in comparable period of fiscal 2008.

For the nine months period ended March 31, 2009, the company posted a net income of $2.31m, or $0.11 per diluted share, compared to a net income of $10.16m, or $0.51 per diluted share, in the same period of fiscal 2008.

For the first nine months of fiscal 2009, the company posted total revenues of $120.92m, compared to $140.08m for the same period in fiscal 2008.

David Hershberg, chairman, CEO and president of Globecomm Systems, said: The company continues to remain profitable despite the difficult economic times that have impacted the infrastructure segment of our business. While we are disappointed with the level of infrastructure bookings, we are seeing more proposal activity and are in a good position to achieve a better level of business in fiscal 2010. We are continuing the process of adjusting expense levels to be in line with the realities of the marketplaces in which the infrastructure segment operates.

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