Element 21 Golf Company generated fiscal Q2 revenue of $430,651, an increase of 168% compared to revenue of $255,801 in the same period in fiscal 2007.
Element 21 Golf Company, the manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, generated Q2 revenue of $430,651, an increase of 168% compared to revenue of $255,801 in the same period in fiscal 2007. At the same time the loss from operations for Q2 decreased by 356% from $1,874,813 in 2007 to $526,792 in 2008.
The combined fiscal 2008 Q1 and Q2 revenues showed a 155% increase as compared to the equivalent period in 2007. For the combined Q1 and Q2 Loss from Operations decreased by 227% from $2,742,486 in 2007 to $1,206,956 in 2008.
“We are continuing to grow sales at a significant rate, while cutting costs and expenses. We are fully aware of the tough economic climate in which we need to sustain our growth. Our immediate focus is to reach the breakeven point and become cash flow positive. Only solid fundamentals will ensure our success and longevity in the marketplace,” said Nataliya Hearn, President and CEO of Element 21.
