Australian satellite company, NewSat (ASX: NWT), recently reported its teleport business monthly recurring revenue, over the 2012 financial year, reached $US3.1 million.
It claimed the proceeds increased by 24 per cent since the end of the financial year 2011.
The company attributed the $US600,000 increase in monthly recurring revenue to the new teleport customer contracts it signed over the 2012 financial year.
“The 306 new teleport contracts are worth $US12.68 million of additional revenue and is incremental to our existing revenue base”, NewSat founder and CEO, Adrian Ballintine, said.
Some of its new teleport business contracts announced during the 12 month period include contracts with Proactive Communications, a new contract for the Gorgon Project, multiple contracts with US based system integrators, contracts with Hitron and contracts with Nixon Communications.
Due to the strong teleport sales, the company is expecting a stellar growth financial year for 2013 as well.
“This continued growth potential is being driven by ongoing demand from Australasia, South Asia and the Middle East, and the recent signing of the Wheatstone Project for a multi-million dollar contract was a great kick start to the current financial year,” Ballintine added.