Golf apparel firm Sport-Haley Inc on Friday posted a reduced fourth quarter loss of $429,000 on the back of a four per cent climb in sales and said it is "optimistic" of a better performance in fiscal 2003. The Colorado-based company said net sales for the quarter to June 30 rose to $5.2 million but fell 21 per cent to $17.1m for the fiscal year due to the "general downturn in the US economy combined with the significant negative economic impact caused by September 11".