As reported by the Australian Stock Exchange, 25 July 2012, NewSat’s teleport revenue increases by 24% to US$3.1 million per year.
The monthly recurring revenue of teleport business is now at US$3.1 million per month which means there is a 24% growth from the end of the 2011 financial year. There is also a US$12.68 million from 306 new teleport contracts won over on the financial year 2012 and is incremental to existing contract base. There is also growth generated domestically and internationally from military, oil, gas, mining, maritime, construction and other government agency contacts.
Adrian Ballintine, NewSat’s founder and CEO talks about the incredible FY 2012 teleport sales. He said that NewSat’s internationally acclaimed teleport business continues its stellar global growth, as their blue chip customers continue to demand high quality communications to support their mission critical business activities. “The US $12.68 million in new teleport contracts is incremental to our existing revenue base and has increased our monthly recurring revenues by 24% to US $ 3.1 million per month.”
Ballintine added: “ In addition to the commendable sales result for FY 2012, the NewSat teleports were rated Top 3 in the world at the World Teleport Awards in March 2012, which reinforces their status as the best teleports in the Australasia region. FY 2013 exhibits all the signs of being another exciting growth year for NewSat, as our teleport sales pipeline remains very solid.” According to him, this continued growth potential is being driven by ongoing demand from Australasia, South Asia and the Middle East. he also stated that “last week’s signing of the Wheatstone Project for a multi-million dollar contract was a great kick to the cret financial year.”
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