SmarTire Systems Inc. (Nasdaq: SMTR - news) has reported net income of CDN $3.3 million ($0.25 per share) for the year ended July 31, 2000 compared with a loss of CDN $17.2 million ($1.69 per share) for the same period in 1999. The net income is a result of the gain on the sale of an investment in Transense Technologies plc (Transense) as previously announced (March 28). The 1999 loss included a special charge of CDN $7.3 million.