By NZPA
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Thursday 12th December 2002 |
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The result compared with a loss of $87,000 for the same period a year ago, and included $88,900 for the amortisation of intangible assets.
Mooring Systems said the loss was primarily due to delays in building and delivery contracts for its automatic ship-docking system, QuaySailor.
The contracts would not be finished by the end of its fiscal year and, as a result, was expected to push its full year loss up to $600,000 .
However, the company was holding contract talks with an Australian shipping company over its QuaySailor system, and several other Australian companies were interested pending the first successful installation.
Managing director Peter Montgomery said Mooring was now close to confirming a contract and hoped to make an announcement in the not too distant future.
He said the company was performing well.
"The results achieved to date are in line with our strategic plan objectives and we are on target to meeting our goals."
Mr Montgomery said a working prototype had been installed on the Aratere ferry had proved its worth for demonstrating the QuaySailor to prospective customers.
If the current talks were successful, Mooring would have two systems each of four QuaySailor units operating and fully commissioned by the end of the 2003/2004 financial year.
During the half year, the company had also built a non-original boatlift mechanism for an exclusive resort in Queenstown, and secured sole Australasian distribution rights for a range of pleasure craft mooring products.
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