Globecomm Systems posts robust fiscal Q4, results beat the Street
Provider of satellite-based communications infrastructure Globecomm Systems Inc. (Nasdaq: GCOM) posted fiscal fourth-quarter results after Wednesday’s bell that surged from a year-ago and trumped the consensus on Wall Street. Service revenues surged 31% due to the company’s acquisition of GlobalSat business in May 2007 and an increase in content delivery service revenue in its network services.
Shares slipped 6.59%, or $0.66, to $9.35 out of the gate. For detailed price information and news stories on Globecomm Systems, click GCOM.
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