Troubled Australian unmanned air vehicle (UAV) manufacturer Aerosonde has reported net operating losses totalling A$2.8 million ($1.5 million) for the 2001-02 financial year despite recording a A$519,000 fourth quarter profit. Net income for the year was A$4.3 million, A$2 million generated during fourth quarter trading.

Aerosonde shares remain suspended on the Australian Stock Exchange pending completion of a takeover and delisting by former directors and Saab Systems.

Meanwhile, the Sydney stock exchange-listed Zylotech group has secured a majority shareholding in Sonacom and may move to delist the fledgling maritime surveillance technology company. Sonacom floated earlier this year and has been working with the University of Sydney on the development of a number of UAV designs. Sonacom announced on 9 August that Zylotech has secured 52.47% of ordinary shares under a three-for-one swap deal which closes on 20 August.

Source: Flight International