NewSat Limited (ASX:NWT) (PINK:NWTLY) Australia's largest independent satellite communications company is in the process of completing another quarter of record growth. This ensures that this half year is NewSats best ever.
During the first quarter of the 2010 financial year, NewSat Limited (ASX:NWT)(OTC:NWTLY) made several announcements documenting new contracts won and the performance by the sales team against the quarterly quota. With the books closed on the first quarter, the company reports on the financial progress.
NewSat Limited (ASX:NWT) Response to EWC's Corrective Announcement - EWC Payments Pty Ltd (EWC) yesterday released an announcement which corrected misleading statements made by EWC in earlier announcements dated 3 September 2009. In particular, EWC has now substantially reduced its claimed revenue and profit for the 2007 and 2008 calendar years.
NewSat Limited (ASX:NWT)(OTC:NWTLY) strong growth and quarterly success continues as the company announces it has overachieved aggressive first quarter sales targets. In a period when corporate Australia is struggling in the wake of the Global Financial Crisis, NewSat has gone from strength-to-strength in continuing to present an increase in quarterly results.
NewSat Limited (ASX:NWT)(OTC:NWTLY) has this morning received a letter dated 3 September 2009 from EWC Payments Pty Ltd, a copy of which was copied to ASX. This letter advises of a formal off-market scrip for scrip takeover offer to be made by that company for 100% of the shares of NewSat Ltd.
As a further update to the ASX, NewSat Limited (ASX:NWT)(OTC:NWTLY) today announced several new business contracts that were signed during the months of July and August. These new contracts have enabled continued new business growth, which has totalled A$3.5 million so far this financial year.
NewSat Limited (ASX:NWT)(PINK:NWTLY) this month celebrated 10 years as a listed company and today announced several significant initiatives as the Company moves to its next phase of development. Highlights include; new chairman of the board, the appointment of Lazard as its strategic advisor and a trading update.
