Gatorz Inc., which makes and distributes eyewear for the motorsports, military, hunting and fishing, action sports and youth markets, reported revenue of $327,736 in the fourth quarter ended Dec. 31, 2012, up 26.1 percent from the same quarter a year earlier.
The increase was the result of the introduction of 27 Nexcom stores to our retail distribution network towards the end of the third quarter.
Loss from operations was $97,039, an improvement of $308,091 from the same quarter last year. The improvement is a result of improved gross profit margins ($42,938) and significant reductions in personnel costs ($106,313), advertising costs ($58,727), and professional fees during the quarter.
Total comprehensive loss for the quarter was $124,077, down from $414,669 in 2011.
For the full year, revenue decreased by $130,646 to $1,503,018, due to the loss of No Fear sales, which accounted for $280,001. This was offset by an increase in Nexcom sales of $109,548 and an increase of $34,798 in Internet sales. Loss from operations was $492,790, an improvement of $78,548 over the previous year due due to a decrease of operating costs of $63,183.
Total comprehensive loss for the period was $688,041, or a penny per share, compared to the same period last year when the total comprehensive loss was $640,983, or $0.01 per share.
