San Diego Business Journal

Spy Inc. Reports Q4 and Yearly Results

By Brad Graves Thursday, March 20, 2014

Spy Inc., a Carlsbad maker of sunglasses and goggles, reported a net loss of $1.27 million, or 10 cents per share, on net sales of $8.62 million during the fourth quarter of 2013. That compares with a $1.22 million net loss, or 9 cents per share, on net sales of $8.11 million in the same quarter of 2012.

For 2013 as a whole, Spy (OTCBB: XSPY) showed a net loss of $2.86 million, or 22 cents per share, on net sales of $37.8 million. Revenue beat 2012, when the company had a net loss of $7.24 million, or 56 cents per share, on net sales of $35.6 million.

The company, which touts its “happy disrespect for the usual way of looking (at life),” reported that it experienced its 11th consecutive quarter of year-over-year growth in Spy brand products.