Skydome: loss, Fluorosolar available 2007/08

Australian Skydome Holdings Ltd. announced on 13 September 2006 a loss for the year to end-June 2006 of AUD 500,948 on revenue up 3.85% to AUD 23.269 million compared with a profit after tax of AUD 18…

Australian Skydome Holdings Ltd. announced on 13 September 2006 a loss for the year to end-June 2006 of AUD 500,948 on revenue up 3.85% to AUD 23.269 million compared with a profit after tax of AUD 182,610 in 2005. Basic and diluted EPS was negative 4.13c compared with positive 1.50c in 2005. The company said loss before tax and before the impact of R&D on the Fluorsolar project was disappointing and that the group was restructuring to combat a current market downturn in the building and construction industry. The domestic skylight division sales fell 3.8% while, although sales rose 4.3%, the industrial overhead glazing division performed poorly due to significant reduction of margins. During the year, the Flurosolar Technology Division was fully funded from retained profits, aided by the AusIndustry Commercial Ready Grant. The 2006/07 financial year is expected to see larger losses on Fluorsolar, as the project reaches several key milestones, with the first of the Fluorosolar products expected to be available in early 2007/08.