Which ASX tech stock has crushed the S&P/ASX200 by 190% in 2015?

Despite the S&P/ASX200 (ASX:XJO) (Index:^AXJO) falling today, junior satellite communications company, World Reach Limited (ASX:WRR), is up another 28% today following the announcement of yet another key contract.

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With its share price up 28% today alone, shareholders of satellite equipment business World Reach Limited (ASX: WRR) will be thrilled by the company's start to 2015…

Source: Google Finance.

Up 200% in the past three months – compared to an 8.6% return from the S&P/ASX200 (ASX: XJO) (Index: ^AXJO) – World Reach shares have again jumped on the back of a positive ASX announcement.

In February World Reach announced a full year net profit of $252,000 (up from a net loss a year earlier) as revenues jumped 57%.

Fortunately the outlook for future growth also appears upbeat.

Today's announcement of an agreement for the design, development, production and sale of a new concept satellite terminal with a major international mobile satellite service network will continue to power the company through 2016.

As the company itself said in a media release this morning, "This is the fourth major development project the Company has secured and we are delighted with the opportunity this presents for the Company to further diversify and expand the business into new markets with novel and innovative products."

Although extremely small and speculative, World Reach could be worthy of a spot on your watchlist.

Owen Raskiewicz has no position in any stocks mentioned. Owen welcomes your feedback on Google plus (see below) or you can follow him on Twitter @ASXinvestThe Motley Fool has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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