BOULDER CITY, Nev. (Nov. 30, 2009) — Polyurethane tire developer Amerityre Corp. cut its net loss for the quarter ended Sept. 30 by nearly 75 percent on 33.6-percent higher sales.
Amerityre attributed the improvement in the net loss—to $280,056—to the combined effects of higher sales and lower operating costs. Sales rose to $1.14 million on the strength of improved foam product revenues.
The net loss was the smallest and the sales the second highest in the firm's 15-year history. Nonetheless, it marked Amerityre's 59th consecutive quarter of net losses, pushing the company's cumulative loss to $58.8 million on sales of about $18 million.