Shin Satellite reported a net loss of 46 million Baht ($1.4 million) in 2006, the company announced Feb. 26.

Discounting a 675 million Baht ($20.1 million) write-off of the Thaicom-3 satellite, Shin would have made a net profit of Baht 629 million ($18.7 million). Shin’s revenues improved more than 22 percent in 2006 compared to 2005.

Shin also announced that nearly 40,000 IPStar users terminals were sold in 2006, more than double the amount of 2005.