From Rubber & Plastics News
Boulder City, Nevada - Polyurethane tyre developer Amerityre Corp. cut its net losses marginally in the second quarter and first half of fiscal 2009, but the losses still amounted to more than the company's revenues during the periods.
For the three months ended 31 Dec, the net loss was $994 117 on sales of $711 983, and for the half-year period that loss was $2.04 million on sales of $1.56 million.
Amerityre attributed the smaller losses to increases in sales-33 percent in the quarter and 30 percent for the half year-and cost-reduction measures undertaken during the periods.
Nonetheless, the second quarter loss was the firm's 56th consecutive quarterly loss and raises the firm's collective losses over 13 years of existence to more than $57 million on revenue of about $15 million.
Amerityre said it expects to start delivering in the first quarter the first PU flat-proof industrial tires to Super Grip Corp. under an off-take production contract dating back to last October. Terms of that contract with Pine Flats, Tennessee-based Super Grip were not disclosed.