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Newsat shares rise on market update

Newsat shares rise on market update

Shares in satellite operator NewSat (ASX:NWC) climbed 66% to $0.005 after the company revealed it was on track to record its eighth straight quarter of sales growth.

The company said sales for the current quarter were running 15% higher than previously predicted as of today.

The company said it predicts revenue of its Jabiru-1 satellite, which is set to launch in 2012, are predicted to exceed $1 billion over its 15-year life span.

About half of this is expected to be profit.

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Tags Forecast Guidance NewSat Satellite telecommunications

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