seeing machines ltd (SEE) Snapshot

Seeing Machines Limited announced the appointment of James Walker to the position of CFO with immediate effect. James is a Fellow of the Institute of Chartered Accountants of Australia. Most recently James was CFO and COO and, for 7 months, acting CEO, of Optalert Limited, a company specialising in driver fatigue monitoring technology.

Caterpillar has signed an agreement with Seeing Machines Limited for in-cab Fatigue Monitoring Systems for use in mining vehicles. The exclusive deal, with a multi-phase approach, covers the use of eye-tracking technology in the cabs of mining machines to protect drivers from 'asleep at the wheel' syndrome. Initially, the agreement covers supply and support of the Fatigue Monitoring Systems via the global Cat Dealer network, and will eventually progresses to further phases that involve joint product development and technology licensing agreements. The new agreement is expected to provide greater integration of the Fatigue Monitoring Systems with Cat MineStar System in order to allow data on fatigue and distraction integrate into the overall management functions of the mine and business.

Seeing Machines Limited announced unaudited consolidated earnings results for the six months ended December 31, 2012. For the six months, the company reported revenues of AUD 4,686,796 against AUD 3,048,410 a year ago. Loss before income tax was AUD 317,919 against AUD 936,801 a year ago. Net loss for the period was AUD 317,919 against AUD 936,801 a year ago. Basic and diluted earnings per share for profit attributable to the ordinary equity holders of the company were AUD 0.077 against AUD 0.226 a year ago. Net cash flows used in operating activities was AUD 1,304,452 against AUD 530,764 a year ago. Purchase of plant and equipment was AUD 143,116 against AUD 11,029 a year ago. Payments for intangible assets were AUD 16,415 against AUD 28,912 a year ago.