VLI Reports

Citing increasing sales of its Today contraceptive sponge, VLI Corp. reported that its losses dropped to $117,899 in the third quarter, considerably below the $1.97-million loss reported the year before. For the period ended Sept. 30, the company had sales of $4.1 million, a 41% jump over the $2.9 million recorded last year.

Robert A. Elliott, president and chief executive officer, said the increasing sales allowed the company “to take advantage of greater production efficiencies.” He added that VLI also has “the production facilities in place to handle substantially greater demand.”

For the first nine months of the fiscal year, the company reported losses of $864,489, far below the $2.9-million loss for the same period last year. Revenue for the first three quarters was $13 million, up 51% from the $8.6 million recorded in the same period last year.

Founded in 1976, VLI began selling the Today sponge in June, 1983. Within the last year, the sponge has become the fastest-selling over-the-counter female contraceptive in the nation.