SPY Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014
Annual sales were $38.1 million in 2014, an increase of 0.9% or $0.3 million more than in the year ended December 31, 2013. The overall increase in net sales during the 2014 period was principally attributable to higher sales of prescription frames and goggle lines. Income from operations increased by $0.5 million to $0.9 million for the year ended December 31, 2014, compared to $0.4 million for the year ended December 31, 2013. The Company incurred a net loss of $1.9 million or $0.14 per basic and diluted share compared to $2.9 million or $0.22 per basic and diluted share a year ago. Loss before provision for income was $1.923 million compared to $2.862 million a year ago.