Green Packet Bhd is targeting to double revenue to RM400 million for the current financial year ending Dec 31, 2010, group managing director C.C. Puan said today.

Puan said for the third quarter ended Sept 30, 2010, the company posted a new high of RM100.8 million in revenue from RM63 million in the same period last year.

It's a record-breaking result for Green Packet to achieve more than RM100 million revenue in a single quarter for the first time, he said at the company's third-quarter results briefing here.

The revenue was achieved after the company managed to secure 37 deals of selling 113,779 modems and 125,000 software licences during the quarter, Puan said.

The group is in very good shape. We are closing in on our target of 280,000 P1 WiMAX subscribers and we have secured orders for everything in our supply chain that can deliver for the solutions business, he said. Currently, the company has 218,000 subscribers.

Puan said Green Packet had added three new contract manufacturers to its supply chain to deliver its order book and alleviate the risk of global components shortage which affected the company's shipments earlier this year.

The company, however, still recorded a pre-tax loss of RM30 million in the third quarter due to the planned investment to advance P1's 4G deployment plan and activities, he said.

For the nine-month period, Green Packet's pre-tax loss increased to RM109.5 million from RM82.5 million in the same period last year. Revenue rose to RM277.7 million from RM160.9 million previously. -- Bernama