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World Reach Ltd Reaffirms FY 2013 Revenue Guidance; Issues FY 2013 Earnings Guidance; Comments On FY 2014 Revenue Guidance

Monday, 27 May 2013 02:26am EDT 

World Reach Ltd announced that for fiscal 2013, it still expects to report revenue growth of approximately 10% over fiscal 2012. The Company now anticipates it will report a positive EBITDA of between $0.95-$1.05 million and a Loss Before Tax in the range of $0.450-$0.550 million for fiscal 2013. For fiscal 2014, it expects growth in revenues in excess of 30% over fiscal 2013. The expected results are particularly supported by: the product development contract secured with Iridium in December 2012 which will provide a new source of product revenue under contract from Iridium, in excess of USD3.3 million for fiscal 2014, the emerging performances of SatPhone Shop and Short Burst Data airtime services sold in Australia, continuing business with Telstra and with MCN China at major levels, & the launch of Inmarsat products into Japan through NTT DoCoMo and JSat Mobile. 

Company Quote

20 Sep 2012