Element 21 Golf Company, which manufactures Scandium Alloy golf and fishing equipment, generated net revenue of $555,256 for the third quarter ended Sept. 30, an increase of 323% compared to revenue of $131,131 in the year earlier period.
Management said increased revenue was a direct result of growing sales within the golf and fishing equipment lines. The first quarter is typically a seasonally slower period for the company.
The company reported a net loss of $638,806, or 9 cents per diluted share, for the quarter, versus a net loss of $1.51 million, or 25 cents per diluted share, in the year-ago period.
Among its highlights for the quarter, management noted the company received a $300,000 order from a leading distributor of its Carrot Stix line of fishing rods.
