The world has caught on to the importance of rare earth elements in the global market. The metals are crucial to high tech products, renewable energy sources, medical devices and the automotive industry to name a few. The cut backs on exports, and a looming ban for the rest of the year, have made uncertainty and prices for the metals skyrocket.
Castle Brands Inc. (AMEX:ROX) reported financial results for the three and nine months ended December 31, 2010. In the fiscal 2011 third quarter, the Company had net sales of $8.7 million, a 16% increase from net sales of $7.5 million in the comparable prior year period. Loss from operations was $1.2 million in the fiscal 2011 third quarter, unchanged from the comparable prior year period.
