Grip Technologies Revenue Surges, Narrowing Losses
IRVINE — Grip Technologies Inc., which manufactures golf grips, narrowed its losses slightly in the fiscal third quarter while revenue surged 90%, the company reported Tuesday.
Net losses for the quarter ended April 30 totaled $298,908, or 6 cents a share, compared with a net loss of $364,121, or 12 cents a share, for the comparable quarter a year ago. Revenue increased to $1 million from $546,759.
For the nine-month period, the company recorded a net loss of $1.2 million, or 25 cents a share, compared with a net loss of $1.5 million, or 49 cents a share, for the comparable period last year. Revenue more than doubled to $2 million from $854,112. The company said the sales increase resulted from higher consumer demand and an acquisition last September.
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