BOULDER CITY, Nev. (May 21, 2009)—Polyurethane tire developer Amerityre Corp. reported a net loss of $687,363 for the quarter ended March 31 on 6.6-percent lower sales of $774,569.
The net loss was an improvement of 32.5 percent over the $1.05 million loss reported a year ago, a change Amerityre attributed to cost-control measures.
Amerityre blamed the lower revenue on reduced sales of finished products, slightly offset by higher sales of equipment.
The third quarter loss was the firm's 57th consecutive quarterly loss and raises the firm's collective losses over 13 years of existence to nearly $58 million on revenue of about $16 million.
For the nine months ended March 31, Amerityre reported a net loss of $2.72 million on sales of $2.34 million.