Shares in provider of auto-deploying satellite antenna systemsC-COM Satellite Systems Inc. (CVE:CMI) hit a new 52 week high Wednesday, adding up to 14 cents to their previous close to hit as high as $1.82 per share on the TSX Venture Exchange. The uptick is part of a longer-running trend for the stock that has seen its price almost triple since starting the year at 66 cents as word spreads of the technology that is the Ottawa-based company's stock in trade.
That technology- vehicle mounted, auto-deployed antennas for the delivery of 2-way high-speed, mobile internet services into vehicles or other transportable structures - is unique, in that it delivers high speed internet in locations where there might be no other means of gaining connectivity.
The most recent surge comes a week after the company announced a partnership with South Africa's largest independent telecommunications firm, Vox Telecom, which it was supplying with its iNetVu Mobile antennas.
The leading telecoms operator is to use the antennas, manufactured by C-COM, to provide voice and data services to the Southern African market.
"For the end user, it's literally a matter of pressing one button," said Jacques Visser, project Manager for Vox Telecom at the time of the announcement of the mobile antennas, which C-COM has designed to be fast, robust and easy to operate. "The antenna's software controller and robotic movement systems will automatically find the satellite signal and connect within less than five minutes. If there's no electricity, it can run off a car battery."
The almost tripling in share value in the year to date is consistent with the company's approach, which as president and CEO Leslie Klein points out, has "never gone back for additional funding," since going public in 2000. The company reports $13 million in the bank, $3 million worth of inventory, no debt, and a record eight consecutive years of profit.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.