By Phil Boeyen, ShareChat Business News Editor
Friday 27th October 2000
|Text too small?|
Secondary market listed WDT produces brushless electric motors made from specialised plastics, permanent magnets and electronics, and says their design offers lower noise and longer life than conventional motors.
Revenue was $513,000 and included $290,000 of sales of motors, motor components and engineering services to licensees. Royalty income was $173,000. Last year's revenue was $333,000.
WDT says revenue is expected to increase during the 2001 financial year as it seeks new licence and supply arrangements, and sales by licensees begin to increase.
Most overheads have increased as the company extends its operations with the appointment of marketing and administrative personnel, and additional engineering staff. Operating expenses stood at $1.244 million compared with $1.079 million last year.
Managing director, Ross Green says the company has finally reached the stage where it has market-ready products that are being delivered to customers.
"The company is well positioned and is rapidly expanding its knowledge of selected target markets. Over the next 18 months the principal objective is to promote these market-ready designs - and the focus of effort is shifting rapidly from development to marketing and market support."
Mr Green says marketing activities have been increasing since March and the company plans a substantial increase in marketing and sales efforts from November, focusing on lines that are ready for commercialisation.
He says the company is well financed to carry out its plan and at September 22 had around $4.9 million available.
WDT plans to list on the main board before the end of the year.
No comments yet
Wellington Drive narrows 1H loss as turnaround plan trims costs by 30 percent
Wellington Drive raises $4M in placement supported by SuperLife
Wellington Drive Technologies on trading halt pending announcement
Wellington Drive narrows FY loss after trimming costs, fattening margin
Wellington Drive shareholders approve $2.1M placement, guidance affirmed
Wellington Drive 3Q sales slide 23 percent, sees tough trading ahead
Wellington Drive adds cool fan technology to its refrigeration line up
Wellington Drive signs US licensing agreement worth up to US$400k/year
Wellington Drive says profit in 2013 'challenging', seeks funding partner
Wellington Drive Technologies embarks on cost-cutting drive