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Articles 

Amerityre Corp. Reports Operating Results (10-Q)

February 22, 2012 | About:

Amerityre Corp. (AMTY) filed Quarterly Report for the period ended 2011-12-31.

Amerityre Corp has a market cap of $12.2 million; its shares were traded at around $0.32 with and P/S ratio of 3.3.

Highlight of Business Operations:

Gross profit. For three month period ended December 31, 2011, we had $391,160 of gross profit compared to $298,175 for the same period 2010. Gross profit for the three month period ended December 31, 2011 increased by $92,985 or 31.2%, over the same period in 2010 due primarily to the increase in unit volume sales.

Selling, general and administrative expenses. For the three month period ended December 31, 2011, we had $535,155 of SG&A expenses, compared to $433,091 of SG&A expenses for the same period last year. SG&A expense increased $102,064 due to increased expenses associated with higher sales levels, offset by decreased payroll expenses. SG&A as a percentage of sales decreased to 51.1% of total revenues from 53.5% in the same period last year. The decrease in SG&A as a percentage of sales is largely due to revenue growth in excess of SG&A growth and cost of revenues as a percentage of revenues remaining almost unchanged for the comparable periods.

Gross profit. For six month period ended December 31, 2011, we had $863,378 of gross profit compared to $618,632 for the same period 2010. Gross profit for the six month period ended December 31, 2011 increased by $244,746 or 28.3%, over the same period in 2010 due primarily to the increase in unit volume sales.

Selling, general and administrative expenses. For the six month period ended December 31, 2011, we had $1,108,186 of SG&A expenses, compared to $976,736 of SG&A expenses for the same period last year. SG&A expense increased $131,450 due to increased expenses associated with higher sales levels, offset by decreased payroll expenses. SG&A as a percentage of sales decreased to 46.2% of total revenues from 56.6% in the same period last year. The decrease in SG&A as a percentage of sales is due to revenue growth exceeding SG&A growth and cost of revenues as a percentage of revenues remaining almost unchanged for the comparable periods.

Net loss. For the six month period ended December 31, 2011, we had a net loss of $424,446 compared to a net loss of $498,778 for the same period in 2010, a decrease of $74,332. The net loss for the same period in 2010 included an uncommon gain of $110,000 on the settlement of debt with a former employee. Excluding the uncommon gain from the settlement of debt, the net loss decreased $184,332 primarily due to the increase in revenues and stable gross margins.

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D., is the founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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