BOULDER CITY, Nev.—Polyurethane tire developer Amerityre Corp. cut its net loss in the quarter ended Sept. 30 by nearly 40 percent but still chalked up its 73rd consecutive quarterly loss.
Amerityre reduced its loss to $174,566 from $277,889 a year ago. Revenue rose 13.6 percent to $1.04 million on higher sales of hand-truck, lawn-and-garden and ag tires, Amerityre said.
The Boulder City-based firm attributed the earnings improvement to the higher sales revenue, improved gross margins and reduced general and administratrion expenses.
The fiscal 2014 first quarter loss brings the company's cumulative loss over 18 years to $63.3 million.