Element 21 Golf Company, the Toronto-based manufacturer of Scandium Alloy golf and fishing equipment, reported revenues of $888,808 for the fourth quarter ended June 30. Revenues increased 686% compared to $112,963 reported for the same period fiscal 2007. The fourth quarter, which represented Element 21’s sixth consecutive quarterly sequential increase in revenue, exceeded the company’s revenue pre-announcement by more than 10%.


For the fiscal year ended June 30, Element 21 reported revenue of $1.8 million, an increase of 705% versus $229,000 in revenue during fiscal year 2007. According to management, the increase in revenue was due primarily to the launch of fishing line.


During fiscal year 2008, general and administrative costs declined 21% or $1.5 million from $7.1 million in fiscal 2007 to $5.6 million in fiscal 2008.