Strong goggle and prescription frame sales helped Spy post a 13.2% sales gain in the fourth quarter, with revenue reaching $9.8 million.
Gross margin declined slightly to 46.8% vs. 47% the same period last year.
Spy narrowed its Q4 net loss to $400,000 vs. $1.3 million.
For all of 2014, sales rose 0.9% to $38.1 million.
Sales to the closeout channel declined, totaling $2 million in 2014 vs. $2.8 million in 2013.
Gross margin improved to 50.6% vs. 49.9%.
Spy narrowed its 2014 net loss to $1.9 million vs. a net loss of $2.9 million in 2013.
This year, Spy is focused on growing its prescription frame business, and expanding in the sporting and outdoor channels. The company also expects to grow the Spy ecommerce business and with other online partners.
Spy will also continue to expand its Happy Lens product offering.
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