Bedroom Gear Maker Liberator Reports Jump in Revenue
ATLANTA — Liberator Inc. reports that revenue more than doubled to $5.6 million in the fiscal first quarter ending Sept. 30.
Liberator, the creator and manufacturer of the namesake line of positioning-system bedroom gear, also said that it slimmed down its net loss to $173,000, compared to a loss of $243,000 in the same quarter last year.
Louis Friedman, president and CEO of Liberator, in a statement, said he was pleased with the "sizeable" increase in revenue and expects the trend to continue.
"We have developed a product growth strategy to capitalize on our strengths and core competencies of manufacturing and marketing," Friedman said. "Our management team believes that the category of sexual wellness is in the early stages of consumer awareness and that it will continue to grow and gain consumer acceptance to become a major trend in society, with Liberator as one of the companies at the forefront."
The Atlanta-based company, which trades on the Over-the-Counter exchange, has manufactured and marketed contemporary furniture and accessories for bedroom play since 2002 and says it has spent $8.7 million on building brand awareness since inception.
Liberator, with 100 employees, occupies a 140,000-square-foot manufacturing facility on eight acres in an Atlanta suburb. It has a network of 1,000 domestic resellers and 400 online affiliates.