LONDON (Thomson Financial) - UTEK Corp, an open innovation company focused
on technology transfer, reported a sharp fall in third-quarter pretax profit,
and said the results continue to reflect a period of transition within its
client base.
Even though UTEK signed 53 technology acquisition alliance agreements for
the nine months to end-September compared to 39 new clients in the year-ago
period, the company said since its clients have a larger market capitalisation
it has resulted in a longer time period to complete technology transfers.
Due to this factor, UTEK said it has completed three technology transfers
during the third quarter compared to eight last time.
For the three months to end-September, UTEK posted pretax of 0.4 mln usd
compared with 6.5 mln usd as revenues fell to 3.7 mln usd from 13.6 mln usd.
tf.TFN-Europe_newsdesk@thomson.com
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