ASX-listed communications vendor, NetComm (ASX: NTC), is expecting a significant increase in profit and revenues for 2009.
In a profit guidance release to the ASX, the vendor announced it is expecting a full year profit of between $5.8 and $6.3 million, up from $0.6 million in 2008. Revenue is expected to be between $75 and $78 million, up from 2008’s $19.4 million.
NetComm managing director, David Stewart, said in the release the expected increases could be attributed to the vendor’s continued focus on wireless broadband, network management products and services, and its core business in broadband networking solutions.
“We’re selectively investing in expansion into new international markets and increased penetration into new domestic commercial markets,” Stewart said in the release.
NetComm also highlighted its intention to reinstate its dividend policy for the 2008/09 full year.
In June 2008, NetComm announced it would be supplying Telstra (ASX: TLS) with around $10.5 million worth of telecommunications equipment.
NetComm was unavailable for comment at time of publication.