OraLabs Reports $3 Million 2Q Revenues

OraLabs Holding Corp. reported that second quarter revenues were $3 million, down from $3.4 millionin the same period of 2003. Reduced revenue along with higher operating costs were blamed for thesecond quarter 2004 loss.

OraLabs executives said the company has invested in facility and equipment upgrades, as well asadditional management. OraLabs also had higher-than-usual legal fees stemming from the pendingintellectual property litigation the company commenced in 2003.

“The company is making these investments to achieve its goal of providing consistent, on-timedeliveries of high-quality products to its customers, which the company hopes will help achieveincreased market share,” said Gary Schlatter, chief executive officer. “In addition, the companyhas invested in protecting its intellectual property, which it also believes will help with increasedmarket share and growth.”