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Non-Tech : CYCY - Cycle Country Accessories Corporation

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To: jmhollen who started this subject2/5/2003 10:41:15 AM
From: jmhollen   of 29
 
Cycle Country Manufactures Lawn & Garden Products for John Deere and Begins Expanded Production of Their Perf-Form Oil Filter Product Line Amid Increased Distributor Demand

MILFORD, Iowa--(BUSINESS WIRE)--Feb. 5, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce the commencement of production for their Perf-form oil filter line of products out of the Company's recently completed 28,000 square foot expansion to their main facilities in northwest Iowa.


After acquiring Perf-form Products last year, the Company recently concluded the move of Perf-form from Big Lake, Minnesota to their manufacturing facilities in Milford, Iowa. The newly completed expansion increases plant operations by approximately 25% and significantly enhances the manufacturing capacity for Perf-form's products while reducing labor cost. Cycle Country's distribution network has significantly expanded Perf-form's U.S. coverage, which has lead to record breaking distributor demand from all geographical areas. The Company is also expanding production from the popular Harley-Davidson chrome replacement filters to a full line of oil filter products for most metric motorcycles and ATV makes.

In other news, Cycle Country continues to build a trusted and respected name in the lawn & garden industry. Since last fall, the Company has been manufacturing nine (9) newly developed products for Deere & Company after working in conjunction with them on all product designs. These heavy-duty attachments for lawn & garden tractors and other utility vehicles are being sold under the John Deere brand name. Cycle Country has recently attained the coveted "Preferred Manufacturing Vendor" status from John Deere and plans to continue as an OEM for this industry leader for many years. Additionally, the Company's own lawn & garden equipment products are now being sold throughout North America and some foreign countries under the brand name Cycle Country and Weekend Warrior.

Cycle Country's 1st quarter 10-QSB filing is due by February 15th, however the Company anticipates filing their quarterly financials no later than Friday, February 14th. Last month, Cycle Country management projected record revenues and earnings of $0.32 per share for fiscal 2003 ending September 30th.

Mr. Ron Hickman, president and CEO of Cycle Country, stated: "We are very pleased with how the first quarter numbers are coming in and expect to meet our stated projections throughout the remainder of our fiscal year. Although I have been involved with Cycle Country in one capacity or another for 20 years, this current period is perhaps the most exciting time in the Company's history. Much of this can be attributed to the individual sacrifices and corporate investments made over the last 24 months. All of us take great satisfaction with our growing relationship with John Deere, the smooth acclimation of both Perf-form and Weekend Warrior and finally, the successful completion of the sizable expansion to our manufacturing facilities."

You may review the complete financial projections stated during a conference call on January 21st over the Internet, which will be rebroadcast until May 1st. To listen to the webcast, please go to viavid.com and click-on the "Events" heading at top of page. Then scroll down and click-on Cycle Country Accessories Corp. Simply fill in the registration form where the only required info is your e-mail address and click "Register" to access the recorded call.

About Cycle Country Accessories Corp.

Cycle Country, cyclecountry.com, with over 50% of the worldwide market in several product categories, is the industry leader in the design, engineering and manufacturing of custom-fitting accessories for the utility all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of snowplows, lawnmowers, spreaders, sprayers, hitches and many other utility equipment items along with recreational accessories. The Company's products custom fit virtually every brand of ATV on the market, which are distributed by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.

The Company has also developed 19 international distributors that sell Cycle Country products in 35 countries throughout Asia, Europe, Central and South America. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide. Cycle Country sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for Garden Tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior.

For the complete 10-KSB filing, go to the company's website at cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407/444-5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800-841-2222.

CONTACT:
Heritage First Capital &
Equity Research Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
e-mail: CYCY@heritagefirstcapital.com
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