Australia’s satellite company, NewSat Limited (ASX: NWT), announced today that the revenues it made for its teleport business has increased to US$3.1 Million, which denotes a 24% growth from the end of the Fiscal Year, 2011. NewSat cites the increase in the number of customers who signed up for their services over the 2012 financial year as the main reason behind the additional US$600,000 in Monthly Recurring Revenue.NewSat currently enjoys 306 new teleport contracts worth US$12.68 million, adding revenues to the company’s existing contract base. Domestic growth has also been attributed to the demand for satellite communications services from various industries, including the oil and gas sector, the booming Australian mining construction sector, government and military customers, and enterprise customers.
The US$12.68 million of new teleport business contracts announced during the 12 month period include:
1. More than US$2 million of new contracts with Proactive Communications or PCI to provide mission critical communications via satellite to US government personnel in the Middle East;
2. New contract with partner to provide satellite communications for the Gorgon Project off the north- west shelf of Western Australia;
3. Multiple contracts with US based system integrators to provide satellite communications to US government agencies also in the Middle East region;
4. Over 70 contracts with Hitron to provide satellite communications to enterprise customers in Papua New Guinea; and
5. Over 25 contracts with Nixon Communications to provide satellite communications for pipeline construction projects across Australia.
NewSat Founder and CEO Adrian Ballintine commented on the positive growth, saying
“In addition to the commendable sales result for FY2012, the NewSat teleports were rated Top 3 in the world at the World Teleport Awards in March 2012, which reinforces their status as the best teleports in the Australasia region. FY2013 exhibits all the signs of being another exciting growth year for NewSat, as our teleport sales pipeline remains very solid. This continued growth potential is being driven by ongoing demand from Australasia, South Asia and the Middle East, and last week’s signing of the Wheatstone Project for a multi-million dollar contract was a great kick start to the current financial year.”
For further information:
Investors
Adrian Ballintine, Founder & Chief Executive Officer: +61 3 9674 4644
Adam Shapiro, Chief Financial Officer & Company Secretary: +61 3 9674 4644
Media
Merv Kuek, VP Marketing & Communications: +61 3 9674 4644