Iatia achieves positive quarter
Wednesday, 27 July, 2005
Microscopy company Iatia (ASX:IAT) will achieve its first positive operating cash flow quarter for the period ended June 30.
The result follows the signing of a AUD$2.97 million contract to demonstrate Iatia's imaging technology to the Defence Science and Technology Organisation and the receipt of the first instalment fee under the contract. GE Healthcare also placed its largest order to date of $140,000 in the first quarter of 2005-2006 and Iatia expects orders to increase steadily as GE continues to roll out its product.
Despite a cash balance of just $611,000 at June 30, Iatia said it expected future income and lines of financial equity support to be more than adequate to meet its cash flow and working capital requirements for the next 12 months.
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