Variflex Improves Its Bottom Line as Sales Rise

Variflex Inc. in Moorpark, a supplier of in-line skates and other recreational equipment, improved its bottom line in the first quarter of its new fiscal year, but still reported a loss.

The company’s loss for the quarter ended Oct. 31 was $21,000 on net sales of $12.66 million, compared with a year-earlier loss of $261,000, or 4 cents per share, on $12.27 million in sales.

The company attributed the sales increase to higher demand for its in-line skates and athletic protective equipment, as well as to the introduction of new products, such as children’s scooters, snowboards and the Quik Shade instant canopy.

“We are particularly pleased that our new product introductions . . . sold well during the quarter and provided a significant contribution to our results,” said Jay Losi, Variflex president and chief executive officer. “Equally encouraging is the feedback we have received from our customers indicating that these new products have been well received at the retail level.”

In addition to in-line skates, Variflex is a supplier of skateboards, skating protective equipment, and bicycle and recreational safety helmets.