Wireless ISP, BigAir (ASX: BGL), is determined to become the number one fixed wireless network operator in Australia after delivering strong results for the financial year ending June 30.
On-Net fixed wireless revenue hit $7.5 million, up 49 per cent year-on-year. Net profit was up 51 per cent to $1.5m while net operational cash flow was bumped up to $2.9m, a 68 per cent increase.
Its off-Net business, which garners a lower margin compared to on-Net, shrunk from $1.5 million in financial year 2009 to $100,000.
The ISP also completed its consolidation of Wizz Communications with full integration of its network and customers into the BigAir business.
“This excellent set of results was achieved primarily through ongoing investment in BigAir’s fixed wireless broadband networks and expansion of our wholesale partner program,” Big Air CEO, Jason Ashton, said in a statement.
“We have managed to accelerate our strong double digit revenue growth in a challenging economic and regulatory environment which is a fantastic result.”
Ashton saw the BigAir network as a viable alternative to Telstra’s expansive but aging copper network and said it could compete with all types of fixed infrastructure once the NBN goes live nationally.
“We believe our network represents one of the few real high performance alternatives in the Australian market place to the aging copper monopoly and we expect that global developments in wireless R&D will ensure that our fixed wireless networks can compete with all types of fixed infrastructure in a post-NBN world,” he said.
“We are determined to be the number one fixed wireless network operator in Australia and we will continue to look for consolidation opportunities in combination with our focus on organic growth.”