NewSat Limited (ASX:NWT)
Melbourne, April 8, 2009 AEST (ABN Newswire) - NewSat Limited (ASX:NWT)(PINK:NWTLY) has delivered another strong quarter for the period ending 31st March '09 with an increase in revenue of approximately 40% over the corresponding period last year, and exceeding this year's ambitious targets.
This follows an outstanding turn-around for the period to 31st December '08 where revenues and results, even at the half year, surpassed expectations and positioned the company for a profitable 09/10 financial year.
Significant recent wins include a five year extension of NewSat's contract with NSW Fire Brigade for general telecommunications services as well as 25 new general contracts with international resellers who target the mining industry.
In addition, NewSat has been awarded two new TT&C contracts (satellite tracking) with the world's largest satellite provider SES/NSS for its newly launched NSS9, and to be launched NSS12 satellite. NewSat continues to support in the order of $3 billion worth of space infrastructure through its world class TT&C teleport assets.
New military contracts supporting Australian and US presence in Iraq and Afghanistan have also strengthened the company's financial position. Military business is a cornerstone of NewSat's telecommunications arsenal. Oil, gas and mining business ranks alongside military as the company's staple business. It also is providing significant growth opportunity.
NewSat continues to build strong partnerships with "blue chip" corporations and internationally recognised Telcos. In conjunction with NewSat's unique infrastructure, these partnerships enable NewSat to bid in tandem on significant projects thus broadening revenue opportunities.
This quarter promises much, with a strong sales pipeline and an increasing annuity revenue stream, thus enabling NewSat to enter the next financial year in the best position in the company's history.
Contact
John Walker
Tel: +61-3-9674-4644
Fax: +61-3-9674-4655
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