NewSat Limited (ASX: NWT), Australia’s satellite company, is pleased to announce that over the 2012 financial year, the Monthly Recurring Revenue of the teleport business has increased by 24% to US$3.1 million per month. The US$600,000 increase in Monthly Recurring Revenue is due to a significant number of new teleport customer contracts signed over the 2012 financial year. The 306 new teleport contracts signed are worth US$12.68 million of additional revenue and are incremental to the Company’s existing contract base.
The US$12.68 million of new teleport business contracts announced during the 12 month period include:
In commenting on the FY2012 new teleport sales, Adrian Ballintine, NewSat Founder and CEO said:
“Our internationally acclaimed teleport business continues its stellar global growth, as our blue chip customers continue to demand high quality communications to support their mission critical business activities. The US$12.68 million in new teleport contracts is incremental to our existing revenue base and has increased our monthly recurring revenues by 24% to US$3.1 million per month.”
“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.”