Shin Satellite Plc reported sales and service revenues of 5.6 billion Thai bhat ($142.7 million) in 2005, compared to revenue of 5.1 billion ($130 million) in 2004, the company reported Feb. 27. Shin profit improved 41 percent to 1.2 billion bhat ($30.6 million) in the same timeframe.
The improvement was driven by an increase in IPStar service revenue, which more than doubled from 502 million bhat ($12.8 million) in 2004 to $1.1 billion bhat ($28 million) in 2005. The spacecraft, which provides broadband service across Asia, was launched in August. Sales of IPStar user terminals reached nearly 18,000 in 2005, compared to about 5,500 in 2004.
