BOULDER CITY, Nev. (Nov. 13, 2007) — Amerityre Corp. narrowed its loss to $1.09 million in the quarter ended Sept. 30 on slightly higher sales of $662,830.
The loss, which was a 9.1-percent improvement over the year-ago period, was the polyurethane tire developer´s 49th consecutive quarterly loss. The company attributed the improvement primarily to lower research and development expenses during the period.
At the same time, Amerityre said its costs rose 11 percent because of the increased expense for chemical raw materials and wheel components coupled with the cost of the disposition of obsolete and/or discontinued inventory.
Sales for the period rose 4.2 percent from the 2006 quarter on a small increase in license fees and a higher number of finished units sold.