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[QUOTE]Originally posted by J_U_ICE: [QB] NEIK ..09 Northstar Electronics, Inc. Announces Its 2006 Third Quarter Results VANCOUVER, British Columbia--(BUSINESS WIRE)--Northstar Electronics, Inc. (OTCBB:NEIK), specializing in advanced sonar technologies for Homeland Security and defense, today announced its 2006 third quarter results. Revenues for the three months ended September 30, 2006 were US$413,132 compared to US$221,543 in the same period last year. Revenue consists of product and contract sales and government assistance. The Company incurred a net loss from operations for the quarter of US$161,514, or US $0.01 per share compared to a net loss of US$395,036 or US $0.02 per share for the same period of 2005. Revenues for the nine months ended September 30, 2006 were US$1,399,390 compared to revenues of US$882,109 for the same period a year earlier. The Company incurred a net loss from operations for the nine month period of US$501,264 or $0.03 per share compared to a net loss of US$848,110 or $0.05 per share recorded for the same period of 2005. In the quarter, the Company continued work on a contract from Lockheed Martin awarded in 2005. Under this contract, Northstar is performing a technology update on command and control consoles for navy submarines. The Company continued work on an advanced digital receiver for its wireless underwater products and on a sonar system for scientific and governmental fisheries research. Northstar’s CEO, Dr. Wilson Russell, commenting on the results, said “We have taken measures to reduce salary and overhead expenses. These measures along with increased revenues have helped reduce the loss in the quarter to approximately 40% of the loss in the third quarter of 2005. During the quarter, we made good progress in our efforts to secure new contracts in defense and Homeland Security and anticipate concrete results shortly in several areas.” About Northstar Electronics, Inc. Northstar Electronics, through its subsidiaries, Northstar Technical Inc. and Northstar Network Ltd., provides electronic products to the marine industry and provides engineering, prototyping and production services to the Homeland Security and defense industries. Safe Harbor: Note: Included in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbor created by those sections. Although the Company believes such expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove correct. The Company’s actual results could differ materially from those anticipated in the forward-looking statements as a result of certain internal and external factors. Contacts Northstar Electronics, Inc. Investor Relations, 604-685-0364 Fax: 604-685-8337 or YES International Investor Relations Mr. Rick Kaiser, 757-306-6090 Fax: 757-306-6092 Email: yes*yesinternational.co or Martin Janis & Co, Inc. Media Ms. Beverly Jedynak, 312-943-1000, Ext. 12 Fax: 312-943-3538 Email: b.jedynak-janispr*att.net [/QB][/QUOTE]
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