Golf apparel maker Sport-Haley Inc has swung to a fourth quarter loss after Wal-Mart stopped selling its Top-Flite branded apparel line.

For the quarter ended 30 June, net loss was $465,000 or a loss of $0.19 per share, compared with a profit of $204,000, or $0.08 per share, in the fourth quarter of the previous year.

During the period, net sales fell by 40 to $4.76m from $7.87m. Gross profit was down by 21% to $1.77m.

The Denver, Colorado based company blamed the lower figures on comparisons with last year's quarters, when Wal-Mart sold its Top-Flite branded apparel.

In the fourth quarter, sales and gross profit of this line were zero. However, Sport-Haley said it shipped a new order in September, for trial in 50 stores.