Norsat International (TSX:NII) has reported 2007 net earnings of $1.5 million, or $0.03 per share, compared with a net loss of $4.4 million, or $0.09 per share, in 2006.
The Vancouver-based satellite technology developer said its revenue increased by 15% to $17.6 million compared with $15.3 million in 2006.
The company reported that its revenue dropped 14% to $4.7 million in 2007's fourth quarter compared with $5.4 million for the same period a year earlier.
Norsat said the strength of the Canadian dollar compared with its U.S. counterpart was a key contributor to the drop.
Norsat's share price range during the past week: between $1.16 and $1.60; 52-week high: $1.60; 52-week low: $0.60.