LONDON (Thomson Financial) - UTEK Corp said its pretax profit for the full
year fell mainly due to a decrease in its revenues.
The open innovation company focused on technology transfer said its pretax
profit for the year to Dec 31 dipped to 6.5 mln usd from 32.0 mln usd on
revenues which fell to 20.30 mln usd from 56.95 usd last year.
As many of UTEK's clients are larger capitalisation companies, transactions
may require more time to close, it said. This has resulted in a decrease in the
number of executed technology transfers and a decline in gross revenues in 2007
compared to 2006, UTEK added.
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