Orbital improves, but still posts loss

Australia’s Orbital Corp., Ltd. posted a net loss after tax of A$1.4 million ($1 million) for the six months ended Dec. 31, an improvement from a loss of A$1.8 million ($1.3 million) for the same period last year.
Revenue for the period was A$5.1 million ($3.7 million), in line with the prior year, and the company said total expenses fell by 11 percent to A$7.2 million ($5.3 million).
The company’s licensing and royalty revenue increased 35 percent compared to the previous corresponding period.
Orbital provides research, design and development services for the world’s producers of powertrains and engine management systems for application in motorcycles, marine and recreational vehicles, automobiles and trucks.
Orbital’s Engineering Services’ first-half revenue fell 9 percent to A$3.4 million ($2.5 million) because of a cutback in automotive customers. psb

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