Australian satellite company, NewSat (ASX: NWT), has reported $37.2 million in revenue and $15.9 million in gross margin for the financial year ending 30 June 2012.
Revenue was up 29 per cent from $28.8 million in FY2011, and the gross margin was up 23 per cent from $12.9 million the same time last year.
NewSat reported a positive EBITDA of $3.9 million, up 111 per cent on FY2011 and a net profit of $2.3 million, up 619 per cent from $0.3 million in FY2011.
NewSat founder and CEO, Adrian Ballintine, said its focus on high value and growth markets, along with increased productivity and cost control, had enabled the company to build on and improve all key financial metrics.
“The NewSat business is in a strong position. We have a profitable and award winning core teleport business which generates growing monthly recurring revenues and kick-started the 2013 financial year with the largest ever single contract for the Wheatstone Project,” he said.
This year, it signed 306 new teleport business contracts, with an average value of over $40,000 per annum.
NewSat also acquired rights to seven premium orbital slots for the development of the Jabiru Satellite Program and signed a total of $US601 million in binding pre-launch customer contracts for Jabiru satellite capacity. Its customers include MEASAT, Trustcomm, 3A Technologies and Quicklink Communications.
Ballintine claimed the outlook for FY2013 was promising, with a continuing demand for mission critical communications across Australasia, South Asia and the Middle East.
He said Jabiru-2, scheduled to launch in 2013, will further enhance the profitability and growth of NewSat’s core teleport business.
“Demand for satellite communications continues its resilient global growth. NewSat’s first satellite, Jabiru-1, is expected to generate more than $US3 billion over the 15 year life of the satellite at 70 per cent utilisation, creating a step change in earnings and EBITDA margins,” he said.
NewSat also recently reported its teleport revenue, which reached $US3.1 million.