Globecomm Systems – GCOM – Results for the fiscal 2012 fourth quarter and fiscal year

Globecomm Systems Inc. (NASDAQ:GCOM), a leading global communications solutions provider, announced financial results for the fiscal 2012 fourth quarter and fiscal year ended June 30, 2012. Globecomm is reporting its financial results on a generally accepted accounting principles (GAAP) basis as well as adjusted EBITDA and adjusted diluted net income per common share, both non-GAAP financial measures, for which the Company provides detailed reconciliations on the attached tables.

GCOM – Fiscal Year 2012 Fourth Quarter Results

Consolidated revenue for the Company’s fiscal 2012 fourth quarter increased 18.8% to $104.8 million as compared to $88.3 million in the same period last year. Infrastructure revenue increased 53.2% to a record $54.7 million, as compared to $35.7 million in the same period last year. The increase in infrastructure revenue was primarily driven by the achievement of revenue milestones under a major government contract which carries lower than traditional infrastructure margins. Service revenue has been somewhat impacted by the reduction of troops involved in conflicts in Iraq

GCOM – Fiscal Year 2012 Full Year Results

Consolidated revenue for the Company’s fiscal year ended June 30, 2012 increased 39.3% to a record $381.9 million as compared to $274.2 million last year. Service revenue increased 17.1% to a record $220.9 million as compared to $188.7 million last year. The increase in service revenue was primarily driven by the Company’s acquisition of ComSource, contributing $27.6 million, along with an increase in our Access service offering, primarily in the government marketplace. Revenues from infrastructure solutions increased 88.3% to a record $161.0 million as compared to $85.5 million last year. The increase in infrastructure revenues was primarily driven by the achievement of revenue milestones under a major government contract which carries lower than traditional infrastructure margins.

About Globecomm Systems – GCOM

Globecomm Systems Inc.(GCOM), is a leading global communications solutions provider. Employing our expertise in emerging communication technologies, including satellite and other transport mediums, we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We focus this value proposition in selective vertical markets, including government, wireless, media, enterprise and maritime. As a communications solutions provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters or government offices. We currently have customers for which we are providing these solutions in the United States, Europe, South America, Africa, the Middle East and Asia.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.