TZL: looking to open up on volume today. Nice article in the Age...

TZL: looking to open up on volume today. Nice article in the Age this morning won't hurt! Courtesy of nifty on Share Scene:

From today's AGE.....

TZ in favour but no sales
September 15, 2005


SMALL technology company TZ has posted a maiden profit of $3.68 million without having sold a single example of its radical intelligent fastener range.

Investors were impressed with the figures, pushing the shares back up above 70¢.

Turnover of 1.13 million shares was double the daily average and the share price jumped 10 per cent or 6.5¢ to 71.5¢.

The company's income was mostly derived from engineering and design consultancies with its technology licensees.

Revenue of $18.2 million includes a $US10 million ($A13 million) signing on fee from the world's largest fastener manufacturer, Textron Corporation.

The revenue also included a three-month contribution from the US subsidiary PDT group, which specialises in product development from research and design right through to prototyping and small-volume manufacture.

TZ is working closely with Textron to bring its Intevia range of fasteners to market as quickly as possible. Textron is the largest supplier of fasteners to the US automotive industry and is a leader in aviation, owning the Bell helicopter company and the Cessna aeroplane company.

The partners have already won a contract to supply intelligent fasteners to a British company that specialises in fitting out the interiors of commercial aircraft. IAN PORTER

The reporter owns TZ shares.