To: wallstreeter who wrote (98104 ) 9/21/1999 11:18:00 AM From: U Up U Down Respond to of 119973
NSATF- 3 3/8 x 3 7/16 + 11/32 Norsat International designs, engineers and distributes products for use in the satellite wireless communications and cable television industries. For the fiscal year ended 12/31/98, sales rose 14% to C$43.4 million. Net loss from continuing operations totalled C$3.1 million vs. an income of C$888 thousand. Revenues reflect increased revenues from satellite ground station receiver components. Loss reflects increased product development and restructuring costs. NORSAT ANNOUNCES DELIVERY OF 3,000 LNBS FOR NEW AP NETWORK Business Editors BURNABY, B.C.--(BUSINESS WIRE)--Sept. 21, 1999--Norsat International Inc. (TSE - NII; Nasdaq - NSATF), today announced the delivery of 3,000 Low Noise Block downconverters (LNBs) to the Associated Press (AP) for use in a new Ku-band network AP is implementing for the satellite delivery of print and audio news feeds to newspapers and radio and television broadcasters across the United States. "We've been dealing with Norsat for over a decade," said Dennis Coston, AP's Director of Satellite Technology. "We know their LNBs work." Together with C-band dishes already in place, the new receive-only network will serve some 4,500 news outlets. "This sale not only confirms the reliability attached to the Norsat brand label in a situation where timeliness is of the essence," said Robert H. Bucher, Norsat's President and Chief Executive Officer, "but proves that Norsat can offer a premium product at a competitive price." Norsat International Inc. designs, engineers and distributes premium products for use in the satellite wireless communications and cable television industries. Its wholly-owned subsidiary Norsat America Inc. operates a network of 14 branch offices across the U.S. and is a distributor of DIRECTV to the DTH market and a DIRECTV MSO for the MDU market. Norsat America also distributes DirecPC.