Australia“s Skydome Holdings Ltd announced a net loss for the year to 30 June 2005 of AUD 214,057 on revenue up 9.61% to AUD 22.4 million. It compares with a previous AUD 427,986. No final dividend i…
Australia“s Skydome Holdings Ltd announced a net loss for the year to 30 June 2005 of AUD 214,057 on revenue up 9.61% to AUD 22.4 million. It compares with a previous AUD 427,986. No final dividend is proposed. The company made a loss per share of AUD 0.0176 compared to earnings of AUD 0.0353 in the year to end June 2004. Operating profit before significant items and tax was AUD 925,442 compared with AUD 634,876 net profit before tax for the previous year. The company said its skylight division performed very well during the year despite sales declining by 5%. The overhead glazing division also performed very well during the period under review. After the write-off of deferred Fluorosolar research costs of AUD 519,681 and the development costs of Fluorosolar of AUD 644,000, the net loss before tax was AUD 238,239. The directors says they are pleased with the result from operations before the impact of the Fluorosolar project. According to information on the Skydome website, Fluorosolar (TM) gathers light which contains all the wave-lengths of the visible spectrum at approximately the same intensity. This “white light“ is forwarded via a light transfer cable to a ceiling or wall mounted luminaire. Fluorosolar Systems Ltd is a wholly owned subsidiary of Skydome Holdings. The forthcoming financial year will see the Fluorosolar development and commercialisation costs accelerate and as a result the company anticipates there will be an overall group deficit next year. It is expected that Fluorosolar has another two years in development prior to any income being generated from the project. The Fluorosolar Technology Division was awarded an AusIndustry Commercial Ready Grant of AUD 1.238 million, to be received over the next two years.