Frisby Technologies Inc, the developer of Comfortemp climate control materials, on Wednesday reported a 35 per cent increase in net revenues for the second quarter ended 30 June 2002.

Net revenues were $1.97 million compared to $1.46 million for the previous year. Net revenues for the six-month period ended 30 June increased 4 per cent to $3.56m compared to $3.4m for the year ago period.

The company said its second quarter growth is mainly attributable to increased revenues by the company's majority-owned European affiliate Schoeller Frisby Technologies GmbH. Schoeller's sales increased approximately $447,000 as its products moved into markets outside apparel and footwear.

Frisby's net loss for the three months decreased $291,000 (30 per cent) to $667,000 from $958,000 in the year ago period. For the six months, net loss decreased $170,000 (8 per cent) to $1.94m versus $2.11m in the same period of 2001.

Commenting on the second quarter's results, Greg Frisby, chairman and chief executive officer, said: "We are especially pleased with our results outside the United States, where sales from our joint venture have increased by nearly 55 per cent compared to the first half of 2001 and in Asia, where sales are up 87 per cent over last year."