Tire Business staff report
Boulder City, Nevada -- Amerityre Corp.'s net loss for the quarter ended 31 March was 45-percent deeper than a year earlier despite 17.4-percent higher sales.
Amerityre's net loss - its 67th consecutive money-losing quarter - was $218 128 on sales of $1.01 million.
Amerityre, a maker of polyurethane solid industrial and farm tires and PU systems, attributed the deeper loss to increased operating costs, including higher raw materials costs and higher selling, general and administrative expenses.
For the nine-month period ended 31 March, Amerityre's net loss was $642 844, or a 1-percent improvement over the previous period. The firm's cumulative losses for its 16-year history stand at $61.5 million.
Sales for the nine months were up 31.7 percent to $3.41 million, primarily due to increased sales of hand truck, wheelbarrow, bicycle and forklift tires.
This story first appeared on Urethanes Technology's sister publication, Tire Business."