SPY Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. Fourth quarter sales were $9.8 million in 2014, an increase of 13.2% or $1.2 million more than in the fourth quarter of 2013. The increase in Net Sales were primarily driven by strong goggle sales and continued growth in prescription frames. Income from operations increased by $0.5 million to $0.1 million for the fourth quarter of 2014, compared to a loss from operations of approximately $0.4 million in the fourth quarter of 2013. The Company incurred a net loss of $0.4 million or $0.03 per basic and diluted share compared to $1.3 million or $0.10 per basic and diluted share a year ago. Loss before provision for income was $0.423 million compared to $1.265 million a year ago.

Annual sales were $38.1 million in 2014, an increase of 0.9% or $0.3 million more than in the year ended December 31, 2013. The overall increase in net sales during the 2014 period was principally attributable to higher sales of prescription frames and goggle lines. Income from operations increased by $0.5 million to $0.9 million for the year ended December 31, 2014, compared to $0.4 million for the year ended December 31, 2013. The Company incurred a net loss of $1.9 million or $0.14 per basic and diluted share compared to $2.9 million or $0.22 per basic and diluted share a year ago. Loss before provision for income was $1.923 million compared to $2.862 million a year ago.