Element 21 Golf Company, the leading manufacturer of advanced Scandium Alloy golf and biofiber fishing equipment, announced that it has generated revenue of $430,651 during the quarter ended December 31, 2008, an increase of 168% compared to revenue of $255,801 in the same period in the previous year. Loss from Operations for the quarter decreased by 356% from $1,874,813 in 2007 to $526,792 in 2008.
Nataliya Hearn, President and CEO of Element 21, stated, “We are continuing to grow sales at a significant rate, while cutting costs and expenses. We are fully aware of the tough economic climate in which we need to sustain our growth. Our immediate focus is to reach the breakeven point and become cash flow positive. Only solid fundamentals will ensure our success and longevity in the marketplace.