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Melbourne, Sep 2, 2009 (ABN Newswire) - As a further update to the ASX, NewSat Limited (ASX:NWT)(OTC:NWTLY) today announced several new business contracts that were signed during the months of July and August. These new contracts have enabled continued new business growth, which has totalled A$3.5 million so far this financial year.
During the months of July and August, in addition to the 2 new business contracts announced, the company initiated service on over 40 new contracts worth over A$1 million per annum. The footprint of the services covered over 30% of the geographic surface of the earth across a number of sectors, including mining, defence, government, education, events and technology. This is a strong start to the financial year with the company continuing to increase the monthly recurring revenue charge (MRC) by virtue of signing new contracts and retaining existing customers. Whilst costs in the business continue to be maintained, the MRC is the key financial metric NewSat's management team and Board of Directors use to gauge the business growth and measure the progress.
The update on the 2 new business contracts is as follows.
Esso Australia Pty Ltd.
NewSat has signed a contract with Esso Australia Pty Ltd (a subsidiary of Exxon Mobil) to provide communications for the PNG Liquefied Natural Gas (LNG) Project, in the Southern Highlands of Papua New Guinea. NewSat will provide satellite communications to various project sites in the Southern Highlands region of Papua New Guinea. The contract is worth over A$2 million for the 53 month term.
Proactive Communications Inc.
Through a partnership with United States-based company Proactive Communications Inc. (PCI), NewSat has signed 5 contracts over a 3 year period totalling over A$2.5 million for the term to provide communications for the US Military operations in Afghanistan. These new contracts follow on from the colocation and partnership formed between PCI and NewSat, via the Adelaide teleport, which was announced last year. This partnership has been beneficial for NewSat and PCI, who have been vying for several high-profile US Military contracts in the Middle East.
(This announcement follows the 4 August ASX release about 2 new business contracts.)
During the months of July and August, in addition to the 2 new business contracts announced, the company initiated service on over 40 new contracts worth over A$1 million per annum. The footprint of the services covered over 30% of the geographic surface of the earth across a number of sectors, including mining, defence, government, education, events and technology. This is a strong start to the financial year with the company continuing to increase the monthly recurring revenue charge (MRC) by virtue of signing new contracts and retaining existing customers. Whilst costs in the business continue to be maintained, the MRC is the key financial metric NewSat's management team and Board of Directors use to gauge the business growth and measure the progress.
The update on the 2 new business contracts is as follows.
Esso Australia Pty Ltd.
NewSat has signed a contract with Esso Australia Pty Ltd (a subsidiary of Exxon Mobil) to provide communications for the PNG Liquefied Natural Gas (LNG) Project, in the Southern Highlands of Papua New Guinea. NewSat will provide satellite communications to various project sites in the Southern Highlands region of Papua New Guinea. The contract is worth over A$2 million for the 53 month term.
Proactive Communications Inc.
Through a partnership with United States-based company Proactive Communications Inc. (PCI), NewSat has signed 5 contracts over a 3 year period totalling over A$2.5 million for the term to provide communications for the US Military operations in Afghanistan. These new contracts follow on from the colocation and partnership formed between PCI and NewSat, via the Adelaide teleport, which was announced last year. This partnership has been beneficial for NewSat and PCI, who have been vying for several high-profile US Military contracts in the Middle East.
(This announcement follows the 4 August ASX release about 2 new business contracts.)
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About Newsat Limited
NewSat Limited (ASX:NWT) provides a full range of managed communication services, TT & C and carrier monitoring from its teleports in Perth and Adelaide to Australia/Oceania, Asia, the Middle East and Africa.
Utilising the latest generation satellite and VSAT technology, NewSat offers end-toend, affordable, high-speed, two-way satellite broadband communication services, products and solutions to broadcasters, cable programmers, news agencies, telecommunication carriers, Internet service providers, corporations, governments and distance-learning networks. In addition, NewSat Networks operates multiple Broadband IP Services based on technologies developed by ViaSat, Gilat, Hughes, Comtech and iDirect.
Services are available on a wide range of satellites accessible from the Perth and Adelaide facilities. Antenna sizes ranging from 3.7 to 13m are available in addition to all the necessary RF and conversion equipment. Customers may co-locate equipment in these facilities, or NewSat can provide an end-to-end service.
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