The fiscal third-quarter revenue of Globecomm Systems Inc. rose 78 percent to $110.9 million, from $62.5 million a year earlier, the Hauppauge-based satellite-communications provider said.
The revenue rose in part because of Globecomm's acquisition last year of ComSource, a Frederick, Md.-based company. And net income declined for the same reason. It fell 3 percent to $2.9 million, or 13 cents a share, from a year earlier $3 million, or 14 cents a share in the quarter ended March 31. The company, in making the announcement Wednesday, attributed the decline to a $2.8 million charge against earnings because of a higher payout to ComSource shareholders.