Boulder City, Colorado — Amerityre, which supplies polyurethane tyres, had total sales of $ 927,000 in third quarter of 2019. This is down 0.75% on the equivalent period last year.
Gross profit across the business rose 4.0% and reached $ 289,000 in the third quarter of 2019.
This was because of the lower cost of raw materials helped the company to increase its gross profit margin in the quarter.
These results were better than expectations, said the company. This is partly because sales of polyurethane foam tyres to a significant customer were higher than expected.
However, the company said that low prices for US domestic corn and soya beans will continue to depress agricultural tyre sales for the remainder of fiscal 2019.
Amerityre said that it expects polyurethane foam products to continue to constitute the majority of its sales.
|Amerityre numbers Q1 2019 ($,000)|
|Group||Q1 2019||Q1 2018||Change %|