Newton Golf Posts $1.37 Million in Q3 Sales, $0.23 Loss Per Share

Newton Golf Company, Inc. (NASDAQ: NWTG) recorded $1.368 million in sales for the quarter ended Sept. 30 and a GAAP loss of $0.23 per basic and diluted share. Sales were down 47% from $2.582 million in the same quarter a year earlier.

Newton Golf attributed the sales decline mainly to reduced marketing during a transition to a new agency and changes to its promotional strategy.

The company’s net loss narrowed to $1.239 million from $1.58 million a year earlier. A noncash benefit from changes in the fair value of warrant liabilities and a lower operating loss helped reduce the loss. Higher interest and debt-related expenses partially offset those factors.