OraLabs Holding Corp. reported second quarter revenues of $3 million, down from $3.4 million in the same period of 2003. Reduced revenue along with higher operating costs were blamed for the second quarter 2004 loss.
OraLabs executives said the company has invested in facility and equipment upgrades, as well as additional management. OraLabs also had higher-than-usual legal fees stemming from the pending intellectual property litigation the company commenced in 2003.
“The company is making these investments to achieve its goal of providing consistent, on-time deliveries of high-quality products to its customers, which the company hopes will help achieve increased market share,” said Gary Schlatter, chief executive officer. “In addition, the company has invested in protecting its intellectual property, which it also believes will help with increased market share and growth.”