VANCOUVER, BC – Northstar Electronics reported third-quarter revenues fell 1.2% to $676,149 versus last year. The net loss widened 638% to $332,604 on program certification startup costs.

Year-to-date revenues are up 26% to $1.7 million, although the net loss has widened 120% to $1 million. 

For the three months ended Sept. 30, production increased for Lockheed Martin’s Aeronautics' P-3 Maritime Surveillance airplane wing retrofit program. First production certification, involving high expenses, was the main contributor to the quarterly loss, and will greatly decrease with ongoing production, the company said.

Northstar has received over $6.1 million worth of new work orders on the P-3 program, and additional P-3 contract work is expected to be awarded by the end of 2009.

Northstar CEO Wilson Russell said the company expects a “strong increase” in aerospace contract revenues over the next two quarters.

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