BOULDER CITY, Nev.—Polyurethane tire developer Amerityre Corp. cut its net loss in the quarter that ended Dec. 30 by 44 percent on 73.3 percent higher sales.
Amerityre cut its loss to $193,282 from $344,644 a year ago. Revenue rose to $1.26 million on higher sales of hand-truck and agricultural tires, the company said.
The loss was the tire maker's 74th consecutive quarterly loss, bringing the its cumulative loss over 18 years to $63.5 million.
Its six-month net loss was $367,848—an improvement of 41 percent from $622,532 a year ago. Sales were up 40 percent to $2.3 million.
The Boulder City-based firm attributed the earnings improvement to the increased sales revenue, improved gross margins and reduced general and administration expenses.