SLS reports record monthly revenue

The Ozark-based sound-system provider reported unaudited gross revenue for the two-month period of $935,532, compared to $853,243 in the same period last year.

Revenues in August were $615,151 – the highest monthly revenue SLS has generated, excluding months when the company shipped its Q-Line System to Best Buy Co. Inc. The product went on sale in May at 618 Best Buy stores throughout the country.

The higher-than-normal August sales compared to $610,967 reported in August 2005. That figure included a $140,000 shipment of Q-Line Systems to Wal-Mart stores.

At the end of August, SLS had a sales backlog of $385,000.

“Over the last year, we have learned a great deal about who the target customers are for our product lines and how to most effectively reach these customers,” said SLS CEO and Chairman John Gott in a news release. “We believe that strength in these markets will continue throughout the year.”

The news comes on the heels of SLS’ Sept. 1 announcement that it is no longer in compliance with the American Stock Exchange’s listing standards and could be delisted. SLS has until Sept. 27 to submit a plan to AMEX that would bring the company back into compliance within 18 months.

The company in August reported a second-quarter net loss in operations of $2.2 million, as well as a 218 percent increase in quarterly earnings to $2.7 million.

SLS shares closed Sept. 20 at 28 cents. The 52-week range is 14 cents to $2.05.

This story originally appeared in SBJ’s Sept. 18 free e-news Daily Update. Click here to register.