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Globecomm Systems 2Q profit falls 75 pct February 11, 2009

Posted by aikservices in Financial, Globecomm, Mobile, VoIP.
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Satellite communications company Globecomm Systems Inc. reported a 75 percent decline in fiscal second quarter earnings Monday on falling sales in its infrastructure business. Globecomm said separately it has launched a global maritime broadband satellite service for cellular, VoIP, video teleconference, data and e-mail service. Globecomm is said it is pairing with the company Mach6, which provides applications including onboard computing, voice and video, mapping and others.

Globecomm posted a profit of $948,000, or 5 cents per share, for the three months ended Dec. 31 compared with $3.7 million, or 18 cents per share, in the year-ago quarter. Sales fell 26 percent to $40 million from $54.4 million, led by a 45 percent decline in the satellite infrastructure business, which the company attributed to the worldwide economic slowdown.

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