Northstar Electronics, Inc. (NEIK) Announces Its 2010 Second Quarter Results
VANCOUVER, BC–(Marketwire – Aug 20, 2010) – Northstar Electronics, Inc. (OTCBB: NEIK), specializing in engineering, systems formation and stipulate prolongation for Aeronautics, Defense and Homeland Security, announces the 2010 Second entertain results.
The 3 month sales income for the duration finished Jun 30, 2010 was $953,099 compared to $879,565 income available during the same 3 month duration in 2009. Sales income for the 6 month duration finished Jun 30, 2010 was $2,239,071 compared to $1,382,396 in the before period. The net detriment for the 3 month duration finished Jun 30, 2010 was $(179,625) compared to a net detriment of $(300,905) for the 3 months finished Jun 30, 2009. The rebate in the detriment resulted from a small enlarge in sum margins and serve streamlining of operational expenditures during this period.
During the quarter, NEIK increasing the tools prolongation on both the Lockheed Martin P3 and the L3 Communication MAPPS contracts. The Company’s unconditionally owned subsidiary, Northstar Network, Ltd., one after another work on the Master Purchase Order for the Wing Assembly Upgrade Components for aircraft from Lockheed Martin Aeronautics. The Company was in full growth for the manufacture/assembly of the brand new antecedent Machine Control Console for L3 Communication MAPPS Ltd. for the Canadian Navy Frigate Upgrade program.
Dr. Wilson Russell, Northstar’s CEO, added, “We go on to squander substantial efforts to secure one more contracts for the make and public of military/government systems, submarine authority and carry out consoles, multi-mode essential element ocular cables, pointing machined tools and alternative components for aerospace and invulnerability systems. We say stern price controls and expect serve income increases over the indirect buliding of 2010.”
For report hit Rich Kaiser, Investor Relations, YES INTERNATIONAL, yes@yesinternational.com, #800-631-8127 and/or Beverly Jedynak, Martin Janis & Co, Inc., b.jedynak-janispr@att.net, (312) 943-1000 Ext. 12.
About Northstar Electronics, Inc.
Northstar Electronics Inc., by the subsidiaries, Northstar Network Ltd. and Northstar Technical Inc., provides engineering, systems integration, prototyping and stipulate prolongation services to the aeronautics, invulnerability and Homeland Security industries. www.northstarelectronics.com
Safe Harbor:
Included in recover have been forward-looking statements inside of the definition of Section 27A-1933 Securities Act as nice and Section 21E-1934 Securities Exchange Act as amended. The Company believes such expectations reflected in statements have been reasonable; it can give no declaration which statements will infer correct.
