Future Mobility Solutions turns to a first-half loss on litigation costs

Tue, 28 Nov 2017

By Rebecca Howard Nov. 29 (BusinessDesk) - Auckland-based Future Mobility Solutions, formerly called Sealegs, turned to a first-half net loss, largely due to litigation costs in an intellectual property case. The company, which manufactures and sells amphibious boats and systems in New Zealand and overseas, reported a net loss of $514,000 in the six months to Sept. 30, compared with a profit of $374,900 in the same period a year earlier. Revenue lifted to $12.3 million from $8.4 million in the prior period. The company said its acqu...

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