re: Ann: NewSat on track for eighth consecuti... ... 31 May 2010...

re: Ann: NewSat on track for eighth consecuti... ... 31 May 2010 - asx announcement via newsat.com...
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NewSat on track for eighth consecutive growth quarter....
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NewSat is set to record its eighth straight quarter of sales growth.
NewSat has delivered over plan in each of the previous seven quarters, dating back to mid-2008, with sales for the current quarter sitting at 15 percent above plan as at 31 May.
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NewSat Chief Executive Officer Adrian Ballintine, said that this is a remarkable achievement given the aggressive targets the business sets for itself.
To record eight successive quarters of growth is a fantastic result, Mr Ballintine said.
During this extended period weve been through the global financial crisis and a large proportion of the market has recorded some significant losses, while other businesses have battled to remain steady.
For us to consistently record well above plan in the midst of such economic upheaval is a great reflection of our stability and the strength of our product and service delivery.
As a small company we believe we deliver a world class product and that is reflected in our recent successes. Were beginning to attract global attention which is a very pleasing result.
Its also a great reward and justification for our shareholders in what has been a very uncertain and unsettling time.
... As at the end of the April 2010 quarter, NewSats monthly financial revenue earned has grown almost 70% since the beginning of the 2008/2009 financial year. This increase has turned NewSats bottom line result around substantially during the same period, as the increased sales are now converted into month-on-month positive cash-flow and profits.
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NewSat has also recently announced that plans to launch Australias first locally owned satellite, Jabiru-1, are on track, with a 2012 launch date scheduled.
NewSat aims to leverage its valuable teleport assets and a range of other financial instruments in order to own up to 100% of the equity of Jabiru-1. Revenues from the satellite are predicted to exceed US$1 billion over its 15 year life span, and profits are expected to exceed US$500 million.
NewSat was recently nominated as a finalist in the World Teleport award for excellence, the only southern hemisphere operator to feature in the nominations.
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........ ENDS of announcement ...........
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