NewSat expects maiden ebitda profit in FY10

NewSat expects maiden ebitda profit in FY10

Satellite operator NewSat (ASX:NWT) has revealed it expects to post its first ever ebitda profit in FY10, after enjoying its ninth consecutive record quarter of growth.

The company, which intends to report its results in August, said its cashflow was growing steadily.

It is also closing in on the development of the $400 million Jabiru satellite project, which is expected to contribute $1 billion in revenue over its 15-year life span.

NewSat added that it was “disappointing” that the government's NBN Co had not chosen to consult with the company over the satellite component of the NBN project, but that it planned to push forward regardless.

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Tags ebitda Guidance NewSat Satellite

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