Austin Engineering rebuilds with mining
Mining equipment manufacturer Austin Engineering recovered from the effects on investment in mining of the Covid-19 pandemic in the first half year to December 31 reporting total revenue in line with expectations of $87.9 million. Normalised earnings before interest, tax, interest, depreciation and amortisation (EBITDA) was 32 per cent up on expectations to $6.3 million. First half results were impacted by Covid-19 in North and South America. Managing director Peter Forsyth said: “We have commenced the calendar year with a significantly improved outlook in North America with a number of orders received in January and February, supporting a continuation of strong performance expected in Asia-Pacific.”
Orbital’s partnership with Boeing pays off
Unmanned aerial vehicle engine manufacturer Orbital Corporation reported revenues up 67 per cent in the first half year on the previous corresponding period to $19 million as its partnership with Boeing UAV subsidiary Insitu continued to pay off. Operational profit was $600,000. The company manufactures two engine types for Insitu and is developing a third.
EMVision develops brain scanning device
Medical device manufacturer EMVision Medical Devices has begun work on a second generation instrument to provide images of the brains of stroke victims. In an investor update the company said the device had benefitted from trials at the Princess Alexandra Hospital in Brisbane. The company’s imaging technology utilises microwaves to image the human brain.
Aurora Labs reports sales growth
Metal additive manufacturing producer Aurora Labs has reported sales up in the first half from the previous $327,000 to $2.8 million. Losses were cut from $5.3 million to $1.88 million. During the half the company raised $3 million from investors and completed development of an upgraded fume extraction system for its machines.
Picture: Austin Engineering
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