BOULDER CITY, Nev. (May 26, 2015) — Amerityre Corp. cut its net loss for the quarter ended March 31 by nearly 82 percent on measurably lower operating costs — most notably raw materials costs.
The reduced loss was the third consecutive quartlerly bottom line improvement for the Boulder City-based industrial tire and wheel producer. Nonetheless, the loss of $49,402 was Amerityre's 79th consecutive quarterly loss. The company's cumulative loss over 18-plus years stands at $64.8 million.
Sales grew 1.9 percent to $1.19 million, largely due to increased demand for the firm's agricultural product line, Amerityre said in its third-quarter 10Q form filed with the Securities and Exchange Commission.
The net loss for the nine months ended March 31 was $336,831, an improvement of 47.2 percent vs. the fiscal 2014 period. Sales grew 3 percent to $3.57 million.