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Nuclear processing Silex Systems turns a $10.2 million loss for 2006 into a profit of $8.7 million for the year

Posted by gmarkets on 3 September, 2007

Nuclear processing Silex Systems turned a $10.2 million loss for the 2006 financial year into a profit of $8.7 million for the year ending 30 June, 2007, reported The Australian Financial Review (31/8/07, p. 77). 2008 financial year not as good as 2007: The massive turnaround came on the back of an exclusive licensing deal that Silex signed with US giant General Electric. GE was piloting Silex’s laser uranium-enrichment technology. Silex chief executive Dr Michael Goldsworthy flagged that the 2008 financial year would not be as good because of the one-off pay­ment the company received from GE booked in 2007. The payment accounted for $26.8 million of the 2007 financial year result. He said Silex had several research and development projects in the wings, including solar technology, being developed by the company’s Translucent subsidiary.

Project in discussion: “We are aiming to increase the solar conver­sion efficiency,” he said. “If you can get increased efficiency at a lower cost, then you’re on a winner.” An Adelaide subsidiary, Fiberbyte, was working on a project that aimed to turn the USB systems built into personal computers into smart con­nections. “We are in discussions with commercial parties about that proj­ect,” Goldsworthy said.

The Australian Financial Review, 31/8/2007, p. 77

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