Ann: MCN China Orders Additional Beam Inmarsat Terminals, page-10

Hi 8th wonder - nice summary

I have FY15 NPAT coming in slightly lower than $1m (on more conservative revenue projections) - but primarily because of the increased amortisation charge:
"The amortisation rate for capitalised development costs is dependent on an assessment of the minimum useful life of each project. Older products have been assessed at 3 years giving a 33% amortisation rate during 2014. The major product completed in June 2014 was assessed at a minimum 2 years giving a 50% amortisation rate."

Based on the $2m R&D spend for GO, total amortisation for FY15 is likely to be around $1.3m ($2m @ 50% + remainder of $1m @ 33%) versus $0.7m in the PCP