SPY’s sales for the quarter ended March 31 increased 22% during the quarter to $8.1 million compared to $6.7 million in the same quarter last year. The company had a net loss of $2.58 million compared to $1.52 million in the quarter last year.
Sale of SPY branded products were also up 22% to $7.9 million. The remaining sales represented close out product from the licensed brands (O’Neill, Melodies by MJB, Margaritaville). Apparently those sales represent the last of the licensed brand inventory and that’s really good news.