VLI Corp. 2nd Quarter Loss Improves Over ‘84’s Period

VLI Corp. the Irvine-based manufacturer of the contraceptive sponge, reported a net loss of $386,965 for the second quarter ended June 30, 1985, a significant improvement from the $1.3 million loss the one-product company reported for the like period in 1984.

Sales for the three-month period doubled to $4.04 million compared to almost $2 million for the same period in 1984.

For the first six months of 1985, VLI reported a loss of $746,590 compared to a loss of $960,089 for the same period in 1984.

Sales for the first half of the year were almost $9 million compared to $5.6 million during the initial six months of 1984.

A spokesman for the company attributed VLI’s improved second quarter to higher sales as well as a reduction in manufacturing costs because of increased production. Robert Elliott, VLI’S president said Wednesday that VLI, which manufactured 20 million sponges in 1984, has already made about 15 million during the first half of 1985.