[SatNews] NewSat Limited (ASX: NWT) has reported the Company’s performance for the year ending 30 June 2011.
The financial highlights include…
- Revenue from ordinary activities of $28.8 million, up 15 percent from $25 million in FY2010
- Gross Margin of $12.9 million, up 9 percent from $11.8 million in FY2010
- Positive EBITDA of $1.8 million up 17 percent on FY2010
- Net Profit of $0.3 million
- Positive operating cash flow of $0.9 million
- Cash and cash equivalents up $0.6 million to $5.5 million
Operational highlights…
- 75 new high-grade enterprise contracts signed during the period with an average value of approximately $70k per annum
- Contract wins across the oil and gas, mining and military markets domestically and internationally
- Significant amount of substantial mining and military operational projects in 3rd and 4th quarter of financial year – impacts of growth will flow into 2012 financial year with recurring revenue stream now over $2.6 million per month
- Strategic organisational changes with appointment of senior satellite industry executives David Ball (CTO) and Michael Hewins (COO)
Jabiru Satellite Program...
- Acquired rights from KyproSat and received Cypriot regulatory approval to seven premium orbital slots for development
- Signing of binding customer contract on Jabiru-1 with TrustComm for $105 million
- Signing of non-binding customer terms sheets on Jabiru-1 for over $50 million per annum
- Completion of technical design phase of Jabiru-1, received detailed submissions from the world’s premium satellite manufacturers and undertaking advanced contract discussions
- Commenced preliminary work with customers and satellite manufacturers on satellites beyond Jabiru-1 and Jabiru-2
