BOULDER CITY, Nev. (Feb. 21, 2014) — Polyurethane tire developer Amerityre Corp. cut its net loss in the quarter ended Dec. 30 by 44 percent on 73.3-percent higher sales.
Amerityre cut its loss to $193,282 from $344,644 a year ago. Revenue rose to $1.26 million on higher sales of hand-truck and agricultural tires, the company said.
The loss was the tire maker's 74th consecutive quarterly loss, bringing the its cumulative loss over 18 years to $63.5 million.
Its six-month net loss was $367,848—an improvement of 41 percent from $622,532 a year ago. Sales were up 40 percent to $2.3 million.
The Boulder City-based firm attributed the earnings improvement to the increased sales revenue, improved gross margins and reduced general and administration expenses.