BOULDER CITY, Nev. (May 30, 2012)—Amerityre Corp.'s net loss for the quarter ended March 31 was 45-percent deeper than a year earlier despite 17.4-percent higher sales.
Amerityre's net loss—its 67th consecutive money-losing quarter—was $218,128 on sales of $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 ended March 31, Amerityre's net loss was $642,844, or a 1-percent improvement over the previous period. The firm's cumulative losses for its 16-year history stand at $61.5 million.
Sales for the nine months were up 31.7 percent to $3.41 million, primarily because of increased sales of hand truck, wheelbarrow, bicycle and forklift tires.