| Northstar Outlook Brightens (Somewhat) |
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| Written by Mike Buetow | |||
| Wednesday, 18 November 2009 10:25 | |||
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VANCOUVER, BC -- Northstar Electronics reported September quarter revenues of $879,565, up 42.2% over last year. The company's net loss narrowed to $288,009, versus $332,604 in 2008. In support of increasing revenues, the company finalized a $800,000 line of credit late in the quarter, thereby permitting higher volume parts production and faster turnaround on the Lockheed Martin P3 aircraft project. It also received a 10% add-on to its $2.5 million contract to manufacture 66 standard marine consoles and 60 local operating panels for with L-3 Communications MAPPS, Inc.Further revenue growth is expected from higher production volumes on the major contracts in the near future, including expansions to the P3 and L3 projects, Northstar said.
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