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  1. harro43

    86 Posts.

    Looks like slx have the same disclosure tactics as mul ..ann late one day with "good news"(40% increase in ownership of translucent) next day the report comes out stating they will have to fund out of their cash reserves for the foreseeable future the R&D needed at translucent, no dividends, dilution of eps,Like I said previously $40 mill cash at hand one year next year who knows ........
    Commentary on results
    For more details on the consolidated entity’s activities refer to the Project and operational
    update which will be released to the ASX at the same time as this document.
    Earnings per share
    Basic and diluted loss per share increased from (0.5) cents to (3.2) cents due largely to a reduction in
    revenue from USEC on the Uranium project and losses associated with the company’s investments in R
    & D company’s Translucent and Fiberbyte.
    Returns to shareholders
    No dividends have been declared or proposed during the year.
    Significant features on operating performance
    As mentioned above, the reduction in revenue on the Uranium project and losses associated with the
    activities of Fiberbyte and Translucent have been the main factors affecting the increased loss for the
    Results of segments and trends
    Research and development
    This includes the operations of the parent entity and the results of the associate, Translucent Photonics
    Inc. The fall in revenue is mainly due to the Uranium Project being in a testing phase this year
    compared to a construction and testing phase last year. Project funding from USEC has historically
    been treated as revenue. On 30 April 2003, USEC withdrew from this project and therefore funding in
    the foreseeable future will be provided from the company’s own resources.
    Other factors that affected results in the period or which are likely to affect
    results in the future
    Revenue from research and development is likely to fall next year owing to USEC’s withdrawal from
    the Uranium project. This may also impact interest income as a portion of the consolidated entity’s
    cash reserves are utilised to fund the ongoing research and development effort. The company is in the
    process of applying for a new Start Grant to fund 50% of the next stage of the Stable Isotope program.
    Positive developments from both Translucent and Fiberbyte have the potential to create significant
    value and earnings for the consolidated entity. The next financial year will be important in the
    development of both of these entities.

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