CARLSBAD, Calif.— SPY Inc. (OTCBB: XSPY) announced financial results for the year ended Dec. 31, 2014.

Fourth quarter sales were $9.8 million in 2014, an increase of 13.2 percent, or $1.2 million more than in the fourth quarter of 2013, the company said, noting the increase in net sales were primarily driven by strong goggle sales and continued growth in prescription frames.

Annual sales were $38.1 million in 2014, an increase of 0.9 percent or $0.3 million more than in the year ended Dec. 31, 2013. Sales included lower closeout sales of $2.0 million in 2014, compared to $2.8 million in 2013, the company pointed out.

The company incurred a net loss of $0.4 million during the fourth quarter of 2014 compared to $1.3 million during the same period in the prior year. The company incurred a net loss of $1.9 million for the 12 months ending Dec. 31, 2014, compared to $2.9 million for the prior year, 2013.

“In the fourth quarter, we were once again happy with our continued positive sales trend and with such significant growth in our top three major categories: prescription frames, snow goggles and sunglasses,” said Michael Marckx, president and CEO.

“We achieved a solid operating profit margin driven by the success of our snow goggle line, which for the first time included our proprietary Happy Lens. We are also excited by the increases achieved in our sunglasses and prescription frame categories and believe these trends will continue as we move through the first quarter of this year.”

Marckx continued, “In 2015, we are focused on building our business in the prescription frame channel, as well as the sporting and outdoor channels. As a portion of our goal to grow our snow goggle business and the outdoor channel we have positioned ourselves to achieve continued growth from the investments that we made in the sponsorships with Powdr Resorts and those that we are making in 2015 with Boyne Resorts.

“In addition, we are very committed to driving growth in SPY’s e-commerce business with our online partners. This growth, along with a further expansion of our Happy Lens offering, improving our product margins and controlling our expenses will carry SPY to a successful and happy 2015,” Marckx said.