CARLSBAD, Calif.— SPY Inc. (OTCBB: XSPY) has announced the financial results for the third quarter and nine months ended Sept. 30, 2014.

Third quarter sales were $11.0 million in 2014, an increase of 8.1 percent or $0.8 million more than in the third quarter of 2013. The increase in their net sales was primarily driven by strong goggle sales and continued growth in their prescription frames, the company said. The company incurred a net loss of $0.1 million and $0.3 million during the third quarter of 2014 and 2013, respectively.

First nine month sales were $28.4 million in 2014, a decrease of 2.7 percent or $0.8 million less than in the first nine months of 2013. Sales included lower closeout sales of $1.2 million in 2014, compared to $2.0 million in 2013. According to the company, the decrease in their net sales was primarily driven by an overall decline in the consumer market coupled with several key retailers currently holding lower levels of inventory and fewer closeout sales of our sunglass products. The company incurred a net loss of $1.5 million and $1.6 million during the first nine months of 2014 and 2013, respectively.

“In third quarter, we were happy to get back into our positive sales trend with growth in the quarter in four of our five major categories; RX, moto goggles, snow goggles and sunglasses,” said Michael Marckx, president and CEO. “In addition, the continued margin expansion is a direct result of the strategic product sourcing initiatives and our brand’s more premium positioning. In Q4, we will focus on fulfilling snow goggle orders, further expanding our Happy Lens offering, driving our sales growth, improving our product margins and launching our 2015 product line.”