NetComm Posts $2M Profit
Contracts with NBN have led to NetComm Wireless reporting a net profit of $2 million on revenue of $74.3 million and EBITDA of $6.23 million in the year to 2016.
The Australian broadband equipment company said the results came on the back of the company’s involvement in the National Broadband Network (NBN) rollout. Earnings before interest, tax, depreciation, and amortisation (EBITDA) were $6.23 million, down 14.6 percent from $7.3 million.
“We have continued to successfully execute our global growth strategy, with M2M and fixed-wireless revenues up 74 percent over the past 12 months,” NetComm Wireless CEO David Stewart said.
“NetComm Wireless’ strong performance in FY16 reflected the continued ramp-up of the Ericsson/NBN contract rollout, which gained pace and is expected to experience a continued volume increase in FY17.”