CARLSBAD, Calif.—Spy Inc. (OTCBB: XSPY) has announced their financial results for the second quarter and first half ended June 30, 2015.

Second quarter sales were $8.1 million in 2015, a decrease of 0.8 percent or $0.1 million less than in the same period in 2014. The decrease in net sales was primarily driven by lower sales of goggles and prescription frame product lines, partially offset by higher sales of closeout products, particularly sunglasses, the company said. The company incurred a net loss of $0.5 million in Q2 2015 versus $0.7 million during the same period in 2014.

First half sales were $17.3 million in 2015, a decrease of 0.7 percent or $0.1 million less than in the first half of 2014. Sales included higher closeout sales of $1.8 million in 2015, compared to $0.8 million in 2014. The decrease in net sales was primarily driven by a key retailer holding lower levels of inventory relative to last year, as well as lower sales of prescription frame products, the company said. The company incurred a net loss of $0.9 million in the first six months of 2015 versus $1.5 million during the first half of 2014.

“We are disappointed with our overall results this second quarter as we set the bar high and expect gains in revenue and market share every quarter despite any external pressures,” said Michael Marckx, president and CEO of Spy. “That said, if you exclude the areas most impacted by the very negative exchange rate changes, our business would have experienced top line growth in the second quarter.

“Despite the challenges we faced, we were able to achieve double digit year over year gains in the areas that we identified as key initiatives necessary to position our business for future growth. Those areas include growth in the Rx frame and sporting goods channels, sunglasses that are ANSI certified, our premium sub-brand Crosstown, our e-commerce channel and in women’s sunglasses. We are most excited about the increases in our optical channel and the growth in the pre-orders for our snow business, which we expect will have a very positive bearing on our second half results this year," he added.