Delays in the transitioning to VoIP services by the Tasmanian government have resulted in the MyNetFone contract yielding no forecast revenues for the service provider. MyNetFone signed the $20 million contract with the state government in July 2012.
According to the VoIP services provider, all commercial commitments and infrastructure have been delivered as required by the contract and the delays are a result of factors outside the company's control. The company has further said that these project delays will not harbor it from pursuing more government business for VoIP services.
The expected gross revenue per annum for MyNetFone is nearly $2 million and the full revenue should be realized by FY2015.
In January a government spokesperson confirmed that the services provided by MyNetFone were successfully used in the 2012 trials support and the first customers came to be cut over at the onset of January 2013.
For the full year ending 30 June, 2013, MyNetFone had a profit increment of 35 per cent to $4.1 million. For the same period there was a 21 per cent revenue increment to $46.2 million. The period was reportedly dominated by considerable one-off integration expenses and being able to exceed the forecast is an achievement that is likely to facilitate the company's acquisition synergies and bolster its bottom line in future.
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