Forward Industries Inc. announced audited consolidated earnings results for fiscal year ended September 30, 2013. The company generated operating income of $0.7 million in fiscal 2013 compared to an operating loss of $3.3 million in fiscal 2012 primarily due to increased gross profit and decreased general and administrative expenses. Net sales increased $1.5 million, or 5%, to $30.9 million in fiscal 2013 due primarily to higher sales of diabetic products, which increased $2.6 million against $29.4 million a year ago.

Income from continuing operations before income tax expense was $5,942 against loss of $3,297,978 a year ago. Income from continuing operations was $5,435 against loss of $3,313,088 a year ago. Net loss applicable to common equity was $753,774 against $9,634,056 a year ago.

Net loss per basic and diluted common from continuing operations was $0.07 against $0.41 a year ago. Net loss per basic and diluted common share was $0.09 against $1.19 a year ago.