[08-27-12] Australian satellite operator NewSat<\/b> yielded $3.8 million in pre-tax earnings during its full-year fiscal period ending June 30, which represented a 111 percent increase, or more than double, from its earnings total in the previous year, the company reported Aug. 27 in its latest financial results.<\/p>\n
NewSat\u2019s full-year sales increased 29 percent year-over-year to $37.2 million. The operator\u2019s revenues from teleports grew 24 percent to $3.1 million per month compared to the previous year. NewSat said the growth was driven by new contracts it signed with clients in the military, oil, gas, mining, maritime and construction industries.
\n The operator is currently seeking funds for its Jabiru satellite program, which is scheduled to launch in mid-2014. While the company received $382 million in loans and guarantees from American and French credit agencies, NewSat Founder and CEO Adrian Ballintine said it has taken longer than expected to secure the final $200 million needed to reach its financing goals.
\n \u201cWe have got our arms around far more money than what we need, and what we are doing is creating the best possible deal for our shareholders,\u201d Ballintine said in a statement. \u201cWe want as little dilution as possible for shareholders. It is taking a little longer than we thought, but it\u2019s a very tough world out there at the moment.\u201d
\n CMC Principal Market Strategist<\/b> Mike McCarthy said that potential investors might still be trying to understand NewSat\u2019s role in the market.
\n \u201cI not surprised the company was having trouble raising the debt, or equity. NewSat is clearly in transition from what looks like a renter of space to a provider of space, and that\u2019s an enormous capital leap for any company,\u201d McCarthy said in an Aug. 27 research note. \u201cThis problem will flip around once they establish some success in raising funds. If the company does develop as it looks like it could, the margins could be very interesting.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
[08-27-12] Australian satellite operator NewSat yielded $3.8 million in pre-tax earnings during its full-year fiscal period ending June 30, which represented a 111 percent increase, or more than double, from its earnings total in the previous year, the company reported Aug. 27 in its latest financial results. NewSat\u2019s full-year sales increased 29 percent year-over-year […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-82590","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82590"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=82590"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/82590\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=82590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=82590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=82590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}