TZ Ltd. To List on NASDAQ; Revenue Drops
TZ Ltd. To List on NASDAQ; Revenue Drops
Jason Sandefur
Intelligent fastener technology company TZ Limited reported revenue dropped 31% to AUD $7.7 million (US$7.14 million) for the first half of fiscal 2008, which ended December 31, 2007, Australian News Bites reports. TZ claimed a net loss of AUD $7.1 million (US$6.67m) for the period.
The company noted milestones were achieved for its Intevia Intelligent Fastening Technology during this period, including new early adopter customer engagements. In addition, a flight trial was reportedly completed on a Boeing jet fitted with Intevia hardware.
At the end of 2007 TZ had 53 active patent groups totaling 255 active applications and 25 granted patents.
TZ has initiated plans to delist on the Australian Stock Exchange and relist with NASDAQ by the end of 2008, according to News Bites. Web: tzlimited.com �2008 FastenerNews.com
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