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Melbourne, Jan 7, 2010 (ABN Newswire) - As part of NewSat Limited's (
ASX:NWT) (OTC:NWTLY) continuous disclosure obligations, the company advises the market of the following new developments.
NewSat has entered the second half of FY10 with monthly annuity contract revenue in excess of A1.9 million dollars as a result of two new contract additions.
While terms of service limit the disclosure of client's names, details of these contracts include;
- Initial contract to provide voice and data communications on the Gorgon gas project on Barrow Island, worth over $1 million dollars annualised.
- Three year contract with a Defence Force contractor for satellite communications worth approximately A$1 million dollars annualised.
The two new contracts follow on from a successful 6 months where NewSat increased contracted new business revenues by approximately 20% against the corresponding period and delivered on its promise to shift an EBITDA loss to an EBITDA profit.
NewSat CEO Adrian Ballintine said, "This continued turnaround in earnings demonstrates the NewSat business model reaching a critical mass where each dollar of new revenue generates an average of 30% EBITDA for the businesses bottom line."
ASX:NWT) (OTC:NWTLY) continuous disclosure obligations, the company advises the market of the following new developments. NewSat has entered the second half of FY10 with monthly annuity contract revenue in excess of A1.9 million dollars as a result of two new contract additions.
While terms of service limit the disclosure of client's names, details of these contracts include;
- Initial contract to provide voice and data communications on the Gorgon gas project on Barrow Island, worth over $1 million dollars annualised.
- Three year contract with a Defence Force contractor for satellite communications worth approximately A$1 million dollars annualised.
The two new contracts follow on from a successful 6 months where NewSat increased contracted new business revenues by approximately 20% against the corresponding period and delivered on its promise to shift an EBITDA loss to an EBITDA profit.
NewSat CEO Adrian Ballintine said, "This continued turnaround in earnings demonstrates the NewSat business model reaching a critical mass where each dollar of new revenue generates an average of 30% EBITDA for the businesses bottom line."
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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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