Ameritye Q3 loss worsens; sales up

Comments Email

BOULDER CITY, Nev. (May 20, 2014) — Polyurethane tire developer Amerityre Corp.’s net loss in the quarter ended March 31 worsened 12.5 percent vs. the 2013 period, a change Amerityre attributed to non-recurring charges.

The $270,302 loss was Amerityre’s 75th consecutive quarterly loss, bringing the company’s cumulative loss over 18 years to $63.8 million.

Revenue rose 13.4 percent to $1.17 million on higher sales of agricultural, hand-truck and medical mobility product lines, the company said, but were offset by reduced sales of fork-lift and bicycle tires.

Amerityre said the non-recurring losses included the write-off of deferred financing costs ($40,000) and bad debt charges ($35,627).

The net loss for the firm’s first nine months of fiscal 2014 was $638,148, a 26-percent improvement vs. 2013. Sales were up 29.8 percent to $3.47 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.

More Polls>

TB Reader Poll

Previous | Published May 22, 2015

When is the last time you attended one of the national tire industry trade shows, such as SEMA, ITEC or the North American Tire & Retread Expo?

I try and take in at least one show a year.
30%
I usually attend one every few years.
14%
There are so many tire maker and distributor meetings each year, I don’t see a need to attend one of the national shows.
12%
I don’t find value in these shows and haven’t been to one in years.
19%
I’d like to but I am too busy
25%