Aug 31, 2009 – (Motor Sports News) – Gatorz Inc. (“Gatorz” or “Company”) (TSX VENTURE: GTZ: undefined, undefined, undefined%) today reported its second quarter results for the six months ending June 30, 2009.
Operational Highlights, Period Ending June 30, 2009:
- Revenue decreased by 23% to $507,978 from the quarter ending June 30, 2008;
- International & Travel Retail revenues decreased by $47,529 and $57,750 respectively over the same period last year;
- Domestic and Internet sales increased by $6,294 over the same period last year;
- Net loss for the period was $110,614, an improvement of $113,224 over the same period last year;
- Gross profit increased to 51.1% over the same period last year; and
- Operating expenses decreased by $158,767 over the same period last year.
Kerry Lynch, CEO of Gatorz, stated “The Company continues to feel the effects of the downturn in the economy. We are pleased with our partnership with No Fear Retail Stores and are focusing on realizing the synergies between our two companies”.
Business Combination with No Fear Retail Stores, Inc.
The Company made two announcements on July 31, 2009 and August 25, 2009 regarding the status of the two stage business combination with No Fear Retail Stores, Inc. The Company plans on realizing cost synergies commencing October 2009, as a result of a shared services and co-location arrangement.
Gatorz Inc. www.gatorz.com designs, manufactures, and distributes 7075 Billet Aircraft Aluminum performance eyewear, including sunglasses from handmade Acetate. Gatorz precision built aluminum eyewear is proudly made in the USA, offering superior craftsmanship, performance and durability. Gatorz proprietary technologies include the ability to customize the frame to your specific facial features. In addition, our lens technology, TruRay Optics, offers the most comprehensive assortment of ballistic impact-proof lenses which are 100% UV blocking, optically correct and distortion free. Gatorz distribution markets include: Motorsports, Motorcycle Industry, Skydiving, Military, Off-Road Industry, Action Sports, Hunting & Fishing, to name a few.
Gatorz products are proudly worn by race car drivers Marco and Michael Andretti (IRL), Kurt Busch and Sam Hornish Jr. along with top U.S bike builders and the famous Golden Knights parachute team.
Investor Relations Inquiries:
All Gatorz investor relations inquiries should be directed to Mark Di Cristofaro at 905.339-7999 ext.224 or firstname.lastname@example.org. You can also visit www.gatorzir.com and sign up to receive news on the company directly to your inbox.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The risks going forward remain adding production capacity and the ability to meet this demand, controlling costs and sourcing ongoing funds to meet increased growth targets. Gatorz is also subject to the general economic conditions in the domestic and international markets it operates in. Gatorz Inc. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Gatorz Inc.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Investor Relations Inquiries: Gatorz Inc. Mark Di Cristofaro 905-339-7999 ext. 224 email@example.com
SOURCE: Gatorz Inc.