Amerityre's loss deepens in Q2 despite higher sales

ERJ staff report (TB)

Boulder City, Nevada - Amerityre Corp. suffered a net loss of $230,348 for the quarter ended Dec. 31 on 29.6-percent higher sales of $1.05 million.

The loss, which was 17.7-percent deeper than the 2010 period, was Amerityre's 66th consecutive money-losing quarter. The firm's cumulative losses throughout its 16-year history now stand at $61.3 million.

Amerityre attributed the larger loss for the period to a one-time gain during the comparable 2010 period. The loss for the six-month period shrank 14.9 percent to $424,446, while sales rose 38.8 percent to $2.4 million.

The Boulder City-based tyre maker attributed the revenue increases to greater sales of hand truck, forklift and wheelbarrow tyres, which were offset by lower sales of medical mobility tyres, the latter due to reduced demand from an OE customer.

From Tire Business (A Crain publication)

SEC filing from Amerityre