Amphibious boat maker Sealegs expects its revenue for the year to March to be between $7 - $10 million, down on the previous year.
Chairman James Hill says Sealegs has been hit hard by the economic recession, but newly implemented cost cuts have put the company in a better position for the future.
Sales for the three months to June were $2.2 million.
Boat production rates have gone up due to an increase in new sales demand.
