Amerityre Corp.’s net loss for the quarter ended March 31 was 45% deeper than a year earlier despite 17.4% higher sales.
Amerityre’s net loss — its 67th consecutive money-losing quarter — was US$218,128 on sales of US$1.01 million.
Amerityre, a maker of polyurethane solid industrial and farm tires and PU systems, attributed the deeper loss to increased operating costs, including higher raw materials costs and higher selling, general and administrative expenses.
For the nine-month period which ended March 31, Amerityre’s net loss was US$642,844, or a 1% improvement over the previous period. The firm’s cumulative losses for its 16-year history stand at US61.5 million.
Sales for the nine months were up 31.7% to US$3.41 million, primarily due to increased sales of hand truck, wheelbarrow, bicycle and forklift tires.