Auri Inc. reported revenues for the second quarter reached $169,787, 23 percent
lower than the $221,380 for the three months ended June 30, 2010. The
primary cause of the year-over-year decline, which occurred in both the
women's and men's collections, was that the company shipped the majority
of its spring merchandise to retailers in the first quarter vs. the
previous year spring sales coming in the second quarter.
Net loss for the three months ended June 30, 2011 was $508,391 compared
to a $130,536 loss for the three months ended June 30, 2010. The diluted
loss per share was $0.01 based on 88.7 million weighted average shares
outstanding in the second quarter of 2011 compared to $0.00 and 53.5
million shares in the same period a year ago, respectively.
Auri's men's line consists of both causal/sport shoes and fashion/dress shoes and an array of sandals, while its new women's line, which debuted in February 2011, consists of an assortment of high-heel designs and flats. The Company's fall 2011 women's line will also include boots, wedges and platforms.
“With respect to both our men's and women's lines, our design platform fuses high fashion with proprietary technologies to create shoes that present true luxury with unparalleled performance and uncompromised style,” stated Ori Rosenbaum, CEO and Chairman of Auri. “Our design team has created shoes with active suspension systems, which incorporate compression control and anti-fatigue features complemented by removable foot beds. By integrating Outlast(R) temperature regulating linings, Liquicell(R) ultra-thin interface technology, and encapsulated gel technologies, we are able to provide form and function unlike other brands. To this end, our innovative design philosophy and solid business fundamentals earned Auri the #8 spot on Forbes Magazine's 2009 'America's Most Promising Companies' list and we were the only footwear, fashion or apparel brand to make the list.”