NewSat Announces 2010 Financial Year End Results
The Board of Directors of NewSat Limited is pleased to report the Group’s performance for the year ending 30 June 2010, highlights of which include positive maiden EBITDA of $1.6 million and a positive Net Profit before and after tax.
Financial Highlights
- All business KPIs have improved considerably in comparison to FY09;
- MRC (“Monthly Recurring Revenue Charge”) of well over $2 million at year end;
- Revenue of $25 million up over 25% from previous year;
- Positive maiden EBITDA of $1.6 million;
- Positive Net Profit before and after tax;
- Closing cash in bank of $5 million at year end as a result of $2.2 million of operating cashflow for the year; and
- No financial debt at FY10 year end;
Operational Highlights
- Growth in target markets of oil, mining, gas and military markets during the financial year;
- Significant volume and value of new contracts won – highlights include Exxon Mobil, the Gorgon Project and several domestic and international government and military agencies; and
- Continued low levels contract churn reflecting quality of product offering and service.
Detailed Report
Click here to read the full announcement.
