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Non-Tech : ATC - Cycle Country Accessories Corporation
ATC 22.71-0.1%Aug 16 4:00 PM EDT

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From: jmhollen8/15/2006 9:49:35 AM
   of 65
 
Cycle Country Announces Third Quarter Results; Three of Four Operating Divisions Increase by Nearly Double Digits

MILFORD, Iowa, Aug 15, 2006 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (AMEX: ATC), the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf cars, today announced its earnings of .0 cents per share for the three months ending June 30, 2006 versus .01 cents per share for the three months ending June 30, 2005. These figures are based on fully diluted shares of 7,287,508 as of June 30, 2006 compared to 5,954,771 shares as of June 30, 2005.


On a nine month comparison, earnings declined from .10 cents per share for the period ending June 30, 2005 to .07 cents for the same period ending June 30, 2006. These figures are based on fully diluted shares of 7,266,758 as of June 30, 2006 compared to 5,537,137 shares as of June 30, 2005.

Total revenue declined by just over 7% from $3,314,465 to $3,082,136 for the third quarter. On a year to date basis, revenue increased by 2.9% from $11,747,430 to $12,083,302. Gross profit increased by 24.2% from $948,313 to $1,178,027, (for a gross profit margin of 38.2% for the third quarter), and increased 40.5% from $3,423,300 to $4,808,776, year to date, (for a gross profit margin of 39.8%).

John Gault, Interim CEO stated, "We grew our revenue in dramatic fashion in three of our four divisions for both the three and nine month comparisons. Our contract manufacturing segment increased 67.2% and 335.5% respectively, Weekend Warrior increased 28% and 225.5%, and our Plastic Wheel Covers division rounded out the double digit increases of 32% and 24.8%."

He went on to say, "We continue to position ourselves with these divisions as a company that is becoming less and less reliant on the cyclical nature of the ATV accessories market. We are proud of these results and continue to work in a diligent fashion to make certain that Cycle Country Accessories Corporation experiences a 26th consecutive year of profitability."

About Cycle Country Accessories Corporation

Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication.

cyclecountry.com
perf-form.com

SOURCE: Cycle Country Accessories Corp.
CONTACT: Magellan Financial Media Group Mark Gilbert, 317-867-2839 mgilbert@thinksmallcaps.com

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