OSI Geospatial Inc. Reports 2012 First Quarter Results

    




 BURNABY, BC, May 29, 2012 /CNW/ - OSI Geospatial Inc.  today  announced its financial results for the first quarter of fiscal year  2012 ended February 29, 2012, reported in Canadian dollars and in  accordance with International Financial Reporting Standard ("IFRS"). 

 For the three months ended February 29, 2012, OSI reported consolidated  revenue of $2.8 million compared to $2.7 million reported in the three  months ended February 28, 2011. The Company reported a net loss of  $191,000 for the three months ended February 29, 2012 compared with a  net loss of $1.3 million for the three months ended February 28, 2011. 

 About OSI Geospatial  OSI Geospatial Inc. operates two distinct business units: Offshore  Systems Ltd. (based in Vancouver, British Columbia), a world-leading  naval fleet supplier of integrated navigation and tactical solutions;  and CHI Systems, Inc. (based in Philadelphia, Pennsylvania), a  leading-edge research, development, and systems integration supplier of  technology solutions for defense, aerospace, health, and bioscience  markets. OSI Geospatial systems and software are in use by military,  government, and commercial customers around the world. The Company is  publicly traded on the TSX Venture Exchange. For additional information  please visit www.osigeospatial.com. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

 Forward-Looking Statements  This press release may include forward-looking information within the  meaning of applicable securities laws including information concerning  the business and future results of OSI Geospatial. Any such  forward-looking statements are subject to risks and uncertainties and  OSI Geospatial's actual results of operations could differ materially  from historical results or current expectations. Additional information  on these and other potential factors that could affect OSI Geospatial's  financial results are detailed in disclosure documents filed from time  to time with the applicable Canadian securities regulatory  authorities.  

OSI Geospatial Inc.


CONTACT:  Jim GirardChief Financial Officer+1 778-373-4600+1 888 880 9797+1 778-373-0027 (FAX)[e-mail] 


    

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