YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Ozark-based speaker system manufacturer also filed its annual report, which showed 97 percent revenue growth to $4 million but a net loss of $10 million or 29 cents per share. SLS International posted a net loss of $8.6 million in 2004.
The company attributes the losses to continued investment in research and development for its new surround sound systems and headphones.
“We have made significant inroads in 2005 to widen the reach of the SLS brand and better position ourselves to gain traction in the consumer market,” CEO and Chairman John Gott said in a news release. “Our strong year-over-year revenue growth is a clear reflection of our ability to bring the products to the marketplace that consumers want.”
Gott added that the backlog of products in the consumer market “has built up considerably through the end of March,” a positive sign for 2006.
Total assets for the company also decreased for the year; assets fell 22 percent to $10.6 million as of Dec. 31, 2005, though the company did receive $4 million in February from the completed sale of its former headquarters.
SLS International shares (AMEX: SLS) closed April 4 at $1.05, compared to a 52-week range of 97 cents to $2.60.
This story originally appeared in SBJ’s April 3 free e-news Daily Update. Click here to register.
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