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Non-Tech : CYCY - Cycle Country Accessories Corporation

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To: jmhollen who started this subject6/5/2003 12:06:18 PM
From: jmhollen   of 29
Cycle Country Delivers 32% Revenue Growth For April & May 2003

MILFORD, Iowa--(BUSINESS WIRE)--June 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 that the combined revenues for April and May 2003 totaled $2,131,529 compared to sales of $1,617,413 for the same two months last year. This revenue increase of $514,116 represents a 32% jump from the corresponding two months during the Company's fiscal third quarter in 2002.

The management of Cycle Country has projected total 2003 revenues of $15.6 million and earnings of $0.32 per share. Through the first 8-months of fiscal 2003 ending September 30th, management's revenue projections remain on track. First established in January 2003, the revenue estimates stated $980,000 for April and $727,000 for May. Actual performance came in at $1,084,000 for April and $1,047,000 for May, respectively.

Developments in several key areas continue to show remarkable results while directly addressing the Company's seasonality issues. There are two main areas impacting the greater revenue numbers during the lesser second and third quarters revenue cycles. One is Perf-form, which continues to experience increased distributor demand for the Company's full line of oil filter and filter cooler products for most metric motorcycle and ATV makes. This is in addition to increased sales from Cycle Country's complete North American distribution coverage for Perf-form's popular Harley-Davidson replacement filters. The other key growth segment starting to establish consistent month-to-month sales increases is from the Weekend Warrior product line for the lawn & garden market. Collectively, all product lines across the board from Perf-form's and Weekend Warrior's respective market segments are enhancing Cycle Country's revenue increases quarter to quarter throughout the Company's fiscal year.

Mr. Ron Hickman, CEO & President for Cycle Country stated: "Obviously, we are very pleased that our game plan is unfolding ahead of schedule. The management and indeed, every employee at Cycle Country is committed to growing the company. Recently, we have finalized an agreement and officially came to terms with Mr. Ray King to head up our plastics division. Rarely have we gone outside the Company to hire an individual with the depth of experience that Mr. King brings. With 30-years of hands-on industry knowledge and well-earned respect throughout the industry, we feel fortunate to have him on board during this exciting growth stage for Cycle Country Accessories Corp. Once again, we fully anticipate greater third and fourth quarter numbers to complete our fiscal year with record revenues."

About Cycle Country Accessories Corp.

Cycle Country,, 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 to essentially all ATV and motorcycle dealers in North America.

The Company has 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 worldwide. The Company sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty garden equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under their brand name Weekend Warrior. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures many equipment products for their utility vehicles.

For the latest SEC filings or past news releases, go to the company's website at 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 Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351 - 800.841.2222.

Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
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