Wellington Drive Technologies says it has posted its first ever operating profit of $13,000. The company makes energy efficient motors.
That's for the six months to the end of June and is before interest, tax and depreciation.
Its bottom-line result was a loss of $1.8 million, down from a $3.3 million loss in the same six months last year.
The company was founded in 1986 and listed on the NZX in 2001.
It raised a further $4.4 million from investors in June, has now accumulated $100.8 million in losses since it started.
Wellington Drive is still forecasting an operating loss for the full year of less than $3 million and says it's on track to deliver an operating profit in 2014.
Its products are designed as energy saving replacements for traditional motors used in refrigeration and ventilation.
