Gatorz Inc., the maker of sunglasses, reported revenue decreased in the fourth quarter by $154,569 to $114,970 from the same quarter last year primarily due to product returns from No Fear Retail, Inc., which went into Chapter 11 protection in late February.


Gatorz said one-time charges resulting from the termination of the No Fear Retail merger were $1.284,237. Without this one-time charge the net loss for the quarter was $381,687.


The company noted that it reduced the number of SKU’s related to its aluminum sunglasses and developed a line of plastic sunglasses with higher margins and a lower retail price.


For the full year, revenue decreased by $154,582 to $1,511,556 due to decreases in sales to the travel retail sector of $182,805. Sales to international distributors increased by $55,125.


Gross profit percentage increased by 1.6 points to 43.4 percent of sales.