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.
What is the most pressing issue facing your dealership in 2017?
|Finding skilled, qualified workers||
71% (103 votes)
|Competition from online tire sales||
16% (23 votes)
|Managing marketing and social media efforts||
7% (10 votes)
|Upgrading our shop’s technology and equipment||
5% (7 votes)
2% (3 votes)
|Total votes: 146|