NewSat’s growing teleport business is behind the Australian satellite company’s best performance for the 2012 financial year ending June 30. The year end results were discussed by CFO Adam Shapiro. With over 300 new teleport business contracts, the Monthly Recurring Revenue for the service rose to 24%, from $2.5 million to $3.1 million per month. The average value of the secured teleport contracts is at $40,000 per annum. The award-winning, and world-class teleport facilities also saw the company secure agreements with US-based system integrators for the provision of satellite communications for government personnel in the Middle East.
One of the major financial highlights was the rise in revenues by 29%, from $28.8 million in 2011 to $37.2 million for FY2012. NewSat also posted a net profit of $2.3 million - a 619% increase from last year’s $0.3 million.
The company’s performance has also been buoyed the recent loans secured from the Ex-Im bank in the US for the funding of the Jabiru Satellite Program. Jabiru-1, slated for a 2014 launch, will be Australia’s first commercial satellite and is expected to deliver high-powered Ka-band coverage over Asia, the Middle East, and Africa.