Gatorz Inc. reported revenues of $361,379 for the first quarter ended March, up 12.6 percent from the same period ending March 31,2012. The increase in revenue was driven by increased sales to Nexcom, or the Navy Service Exchange Command. As a result of the increase in sales, gross profit increased by $19,227 over the same period in 2012 to $187,656.
The company was able to reduce its loss from operations by $41,258 as a result of improved efficiencies within the company. Gatorz management decreased the comprehensive loss by $62,999.
Next quarter the company will be reporting consolidated financial results for both its Optics and its newly acquired Retail division.
“Driving Gatorz revenue and operational efficiencies is a long-term initiative which we are committed too,” said Robert Reynolds, CEO. “We are pleased with the positive momentum Gatorz continues to enjoy through our Military and Internet retail channels. Our focus on Military and Outdoors is being substantiated with our continued performance within our key accounts such as Nexcom. We expect continued success in these categories moving forward.”
Gatorz Inc. designs, develops, manufactures, and distributes performance eyewear, including sunglasses built in the USA from 7075 billet aircraft aluminum. The company distributes to motorcycling, motorsports, skydiving, military, off-road, hunting & fishing, action sports, and youth lifestyle markets.
