| To: jmhollen who started this subject | 9/30/2002 10:37:34 AM | | From: jmhollen | | | | Cycle Country Announces Groundbreaking for New 28,000 Sq. Ft. Expansion to their Existing Plant Facilities in Iowa
MILFORD, Iowa--(BUSINESS WIRE)--Sept. 30, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company held the official groundbreaking ceremony for a new 28,000 square foot expansion of their multi-operational facilities on Friday, September 27, 2002. Several board members, the Company's executive management and all Cycle Country employees attended the event.
The new construction, which is slated for completion by January 1st, 2003, will expand all vital plant areas including manufacturing, production, shipping and warehouse operations. The Company has been experiencing nearly full capacity production levels throughout much of the last quarter. This has been attributed to stronger demand for Cycle Country's existing products, new product introductions and greater distribution for several products from the Company's two recent acquisitions.
The Company has sufficient land available for further expansion in the years ahead and plans to continue to take advantage of their strategic location for national distribution at the intersection of two major highways. The location at Highway 71 and 86 in Northwest Iowa facilitates the Company's complete operations including the executive offices and all manufacturing, production, shipping and warehouses. The recent groundbreaking for additional space follows their last construction expansion in January 1997.
Cycle Country president, Ron Hickman stated: "The successful completion of this sizable expansion will allows us to maximize further growth plans and allow us to consider additional acquisitions too. Solid demand for our new or improved ATV accessory products should continue to keep us at high production levels. We continue to ramp-up production for lawn & garden products from our most recent acquisition of Weekend Warrior. Further, our Wheel Covers segment and premium oil filters from our Perf-form Products acquisition continue to show amazing growth."
About Cycle Country Accessories Corp.
Cycle Country, www.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 mowers, plows, 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. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada 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 have sold Cycle Country products in 40 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 also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. With Cycle Country's most recent acquisition of Weekend Warrior and their superior garden equipment attachments for Trailers and ATVs, Cycle Country has begun marketing heavy-duty farm equipment for the Lawn & Garden market.
For the complete 10-QSB filing, go to the company's website at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group via e-mail to CYCY@veritascap.com or phone 407/444-5959 from 9 a.m. until 5 p.m. (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 - Milford, Iowa 51351 -- 800/841-2222.
CONTACT: Heritage First Capital & Equity Research Group
Scott Gibson, 407/444-5959
CYCY@veritascap.com
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| To: jmhollen who started this subject | 1/15/2003 12:29:15 PM | | From: jmhollen | | | | Cycle Country Announces Conference Call To Discuss Fiscal 2002 Results And Management's Expectations For 2003
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 15, 2003--Cycle Country Accessories Corp. (OTCBB: CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that corporate management has scheduled a conference call with the investment community for Tuesday January 21st at 4:15 p.m. (EST). The purpose for the conference call is to review Cycle Country's fiscal 2002 results, current operations and projections for fiscal 2003 ending September 30th. Management will also address an open dialogue during a question and answer session.
Investment professionals and the general public may access the call by dialing toll free at 1.800.245.1683 prior to the start of the phone conference at 4:15 pm. The conference call will be recorded and available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN # 5439 395).
The conference call will also be broadcast live over the Internet. To listen to the web cast real time, 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 conference call. If you do not have Windows Media Player, it is suggested that you access the site enough in advance to download and install any necessary audio software at no charge. ViaVid will provide the rebroadcast of this web cast until May 1st.
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 lawnmowers, snowplows, spreaders, sprayers, hitches and many other utility and recreational equipment items. The Company's products custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout North America by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers. Additionally, with Cycle Country's acquisition of Weekend Warrior and their heavy-duty agricultural equipment attachments for trailers and ATVs, they are now marketing heavy-duty farm equipment for the Lawn & Garden industry.
The Company has also developed 19 international distributors that are currently selling 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 also sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For additional corporate information or replays of the forthcoming conference call, 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 by e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp. Headquarters: 2188 Hwy.86 -- Milford, Iowa 51351 -- 800.841.2222.
CONTACT: Heritage First Capital & Equity Research
Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
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| To: jmhollen who started this subject | 1/21/2003 9:41:54 AM | | From: jmhollen | | | | Cycle Country Announces Reduced Manufacturing Costs and Increased Capacity for Perf-form Oil Filter Product Line
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 21, 2003--
Management has Scheduled a Conference Call With the Investment Community for Today At 4:15 p.m. Eastern Time...See Details Below
Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company is near completion for the 28,000 square foot expansion of their multi-operational facilities in Milford, Iowa. The new construction will expand all vital plant areas including manufacturing, production, shipping and warehouse operations.
On a related note, the Perf-form Products manufacturing plant located in Big Lake, Minnesota will shortly conclude their move into the newly expanded facilities in Milford. This strategic move will significantly increase manufacturing capacity while reducing manufacturing costs for the Perf-form oil filter and cooler product lines. Cycle Country expects to be in production with this new manufacturing alignment to their main operations by February 3, 2003.
To reiterate last week's press release, corporate management has scheduled a conference call with the investment community for today Tuesday January 21st at 4:15 p.m. (EST). The purpose for the conference call is to review Cycle Country's fiscal 2002 results, current operations and projections for fiscal 2003 ending September 30, 2003. Management will also address an open dialogue during a question and answer session.
Investment professionals and the general public may access the call by dialing toll free at 1-800/245-1683 prior to the start of the phone conference at 4:15 pm. The conference call will be recorded and available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN No. 5439 395).
The conference call will also be broadcast live over the Internet. To listen to the web cast real time, 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 conference call. If you do not have Windows Media Player, it is suggested that you access the site in advance to download and install any necessary audio software at no charge. ViaVid will provide the rebroadcast of this web cast until May 1st.
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 have sold Cycle Country products in 40 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
CYCY@heritagefirstcapital.com
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| To: jmhollen who started this subject | 1/23/2003 10:39:53 AM | | From: jmhollen | | | | Cycle Country Announces Earnings Estimates For Fiscal 2003
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 23, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that management has issued financial projections for Cycle Country's fiscal year ending September 30, 2003.
During a conference call with the financial community and public this past Tuesday January 21st, Mr. Ron Hickman, CEO and President of Cycle Country shared corporate management's revenue and earnings forecast for 2003. For the current fiscal year ending September 30, 2003, management expects total revenue to reach $15,618,310, up from $13,363,552 for 2002. Income from operations is expected to total $2,147,649 as compared to $713,661 for the 2002 fiscal year. Income before provision for income taxes is projected to be $1,962,368 or 12.6% as a percentage of sales in comparison to $486,244 for 2002. Net income is estimated to come in at $1,255,916 or $0.32 earnings per share for fiscal year ending Sept. 30, 2003 as compared to $308,841 for fiscal 2002.
Positively impacting the anticipated financial growth numbers include, the Company's entrance into the lawn & garden market. Specifically, Cycle Country has completed designs for nine (9) new products in conjunction with Deere & Company, to be sold under the brand name John Deere. These products are heavy-duty equipment attachments for lawn & garden tractors and other utility vehicles. The Company has recently attained "Preferred Vendor" status from John Deere and plans to continue this well-established relationship for many years to come. Additionally, Cycle Country's lawn & garden equipment products will be sold throughout North America and some foreign countries, under one of their own brands named Weekend Warrior.
Further earnings growth is projected from their expanded distribution of Perf-form's oil and cooler filter product lines. This division's recent move from Minnesota to the Company's main operations in Milford, Iowa should be completed by month end. They expect to begin production by February 3rd in Cycle Country's new 28,000 square foot addition to their facilities. The Company's sizable expansion to their plant operations should also provide several cost saving efficiencies including reduced labor cost.
Demand for the Company's market leading snowplow sales have already reached record levels and should continue through the harsh winter months in the U.S. and Canada. These developments and the elimination of several extraordinary items and one-time expenses during 2002 should provide the Company with record revenue and earnings for fiscal 2003 ending September 30, 2003.
This week's conference call has been recorded and is available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN # 5439 395).
The conference call is also available over the Internet and 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
CYCY@heritagefirstcapital.com
. |
| | CYCY - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
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| To: jmhollen who started this subject | 2/5/2003 10:41:15 AM | | From: jmhollen | | | | 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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| To: jmhollen who started this subject | 2/17/2003 10:31:49 PM | | From: jmhollen | | | | Cycle Country Announces First Quarter Revenues For Fiscal 2003
MILFORD, Iowa--(BUSINESS WIRE)--Feb. 15, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), announced first quarter revenues of $4,414,053 for the three-month period ending December 31, 2002. This represents an 8.3% decrease compared with revenues of $4,811,424 during the corresponding period in 2001. The single-digit decrease in revenues during the first quarter is mainly attributable to a reduction of $594,000 in sales volume from the Company's mainstay Snowplow Blade products. Essentially all North American distributors' early season order quantities were below last year's during the Company's recently ending first quarter of 2003.
However, this was offset by increased sales of $301,000 from manufacturing new John Deere products, additional Plastic Wheel Cover units and new sales of Perf-Form oil filter and oil cooler products. Additionally, the Company has current orders from these same distributors throughout the U. S. and Canada with scheduled deliveries into the month of February 2003. These current shipments for Snowplow blades and other related winter-season products are running nearly 30 days longer than the last shipments sent on January 10th of 2002.
Gross profit as a percentage of revenues was 24.9% for the first quarter of fiscal 2003 in comparison to 26.7% for the same quarter the previous year. The decrease of 1.8% in gross profit is primarily the result of an increase in direct labor costs in the Plastic Wheel Cover segment and a decrease in the gross profit margin for Snowplow Blades. The increased direct labor cost in the Plastic Wheel Cover segment was due to additional staffing requirements to institute a higher quality clear coating process along with additional personnel for operating two full production shifts and a limited third production shift. The production increase was attributed to continued growth in wheel cover sales from increasing off-season demand as well as in-season demand growth. The minimal decrease in the gross profit margin of the market leading Snowplow Blades was to strengthen the Company's position with a new snowplow blade configuration that increases its durability and standard features while maintaining its competitive pricing.
The increased Wheel Cover production shifts and reconfiguring the standard snowplow blade, while impacting the first quarter's operating profits, will strengthen the position of the Company going forward. All to meet the demands of the market, expand sales and increase revenue and profits throughout the remaining three fiscal quarters.
Mr. Ron Hickman, CEO and president of Cycle Country, stated: "We anticipate that our revenues for each of the remaining quarters of fiscal 2003 will exceed the actual results of the second, third and fourth quarters of fiscal 2002. Management's aggressive efforts to address seasonality issues, expand into new markets and strengthen the market-leading positions of our current products will begin to provide superior financial results. Our reintroduction of the Weekend Warrior brand of heavy-duty equipment attachments and continued expansion of marketing our current line of ATV accessories into the lawn and garden industry should account for some of the improved second and third quarter fiscal 2003 revenue levels. Also contributing to improved revenues for the remaining quarters is our projected growth of the Perf-Form premium oil filters and oil coolers as we increase production and devote greater sales and marketing resources to increase its presence and availability in the marketplace. Weekend Warrior and Perf-Form will also provide the company with tremendous opportunities for strong sales and profits in quarters that traditionally have been weak for the company due to the seasonality of some of the ATV accessories market."
About Cycle Country Accessories Corp.
Cycle Country, www.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-QSB filing, go to the company's website at www.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 A-B Gibson, 407/444-5959 |
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| To: jmhollen who started this subject | 3/21/2003 12:17:08 PM | | From: jmhollen | | | | Cycle Country's Revenues Increase Over 10% For January & February 2003
MILFORD, Iowa--(BUSINESS WIRE)--March 20, 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 January and February 2003 totaled $1,723,426 compared to sales of $1,565,613 for the same two months last year. This represents an increase of 10.1% and does not factor in additional revenues from their wholly owned subsidiary Perf-form, Inc., acquired in March of 2002.
Although much of the increase can be attributed to greater sales of the Company's market leading snowplow blades from several winter storms that blanketed large areas of the Midwest and Northeast, this notable increase also reflects positive growth numbers from many of Cycle Country's ATV accessory products. Additionally, revenue numbers from Perf-form oil filters alone are already on pace to add 3% in revenue during fiscal 2003 from total 2002 revenues of $13.4 million.
Through the first 5-months of fiscal 2003 ending September 30th, management' s revenue projections remain on track. After meeting their revenue estimates of $4.4 million for the 1st quarter ended December 31, 2002, the Company remains confident in achieving 2nd quarter estimates of $2.6 million. The management of Cycle Country has projected total 2003 revenues of $15.6 million and earnings of $0.32 per share.
Developments in other key areas continue to show positive results. The Company's recently completed 28,000 square foot plant addition and subsequent move of Perf-form into the newly expanded facilities, has significantly increased manufacturing capacity for Perf-form while providing greater production efficiencies. Cycle Country's 16 distributors reaching over 8,000 motorcycle and ATV dealerships throughout North America, continue to increase their distribution orders from the Company's expanded production of a full line of oil filter products for most metric motorcycle and ATV makes. This is in addition to increased sales from Cycle Country's far greater distribution coverage for the popular Harley-Davidson replacement filters.
The CEO of Cycle Country, Mr. Ron Hickman, stated: "Our commitment last year to address seasonality issues, expand into new markets and strengthen current product sales has begun to positively impact the Company's revenue and earnings numbers. While increased production and sales of Perf-form will continue to fuel some of the Company's growth this year, our wholly owned subsidiary Weekend Warrior's heavy-duty garden tractor equipment is just now reaching the marketplace. We have also experienced new revenue growth during the first two quarters of fiscal 2003 from our October production start of 9 different lawn & garden attachments for John Deere's utility vehicles. Management fully expects strong growth momentum to continue throughout the two remaining fiscal quarters. In fact, further developments should come to light shortly that will reinforce expanded product availability coverage and Cycle Country's entrance into a whole new industry segment."
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 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 9 heavy-duty equipment products for John Deere utility vehicles.
For the latest SEC filings or past news releases, 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: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
CONTACT: Heritage First Capital & Equity Research Group, LLC
Heathrow, Fla.
Scott A-B Gibson, 407/444-5959
24 hr: 407/620-1930
CYCY@heritagefirstcapital.com
heritagefirstcapital.com
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| To: jmhollen who started this subject | 4/2/2003 2:06:43 PM | | From: jmhollen | | | | Land Pride, A Division Of Great Plains Manufacturing, Inc. Selects Cycle Country As Official ATV Accessory Provider
MILFORD, Iowa--(BUSINESS WIRE)--April 2, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the outright leader in developing and manufacturing several custom-fitting accessories for the all-terrain vehicle (ATV), is very pleased to announce that Land Pride has selected the Company to be the official ATV accessory manufacturing provider for five (5) new utility vehicles. In addition to developing and manufacturing a full line of accessories for Land Pride all-terrain vehicles, Cycle Country has already designed and manufactured several standard and some optional accessories for each vehicle. These accessories include front and rear racks, brush guards, winch kits, rear screens and snowplows.
Land Pride (http://www.landpride.com), a division of Great Plains Mfg., Inc. is a recognized manufacturing leader in landscaping equipment throughout North America. Since 1986, Land Pride has become a major U.S. manufacturer of tractor and skid steer mounted implements including Rotary Tillers, Grooming Mowers, Overseeders, Rotary Cutters, Rear Blades and Landscape Rakes. With over 25 product groups and several hundred models, Land Pride has manufacturing plants in three communities in Central Kansas including Abilene, Kipp and Lucas. A fourth Land Pride manufacturing facility is located in Chetek, Wisconsin. Headquartered with the parent company in Salina, Kansas, Land Pride has an expanding network of over 1,400 national and international dealers and offers attractive financing options through a wholly owned subsidiary. Land Pride also provides complete shipping efficiency through their in-house trucking company.
Great Plains Manufacturing, Inc. (http://www.greatplainsmfg.com) is a privately owned company employing approximately 700 people throughout 7 manufacturing plants located primarily within the state of Kansas. Founded in 1976, Great Plains has established itself as a reputable worldwide manufacturing leader in the agricultural equipment industry through their dedication to innovative technology, quality workmanship and superior product performance. In 1983 the Company began exporting to nearly 40 countries and currently maintains distributor/dealer representation in over 20 countries. Great Plains Mfg. is made up of 4 divisions encompassing Great Plains, a manufacturer of heavy-duty agricultural planting, spraying and cultivating equipment; Land Pride, a manufacturer of a wide variety of landscaping products and an expanding number of utility vehicles; Great Plains Trucking, an over-the-road trucking company delivering Great Plains' products along with other companies products as well; and finally, Great Plains Acceptance Corporation, a wholly owned financing corporation.
The Director of Marketing for Land Pride, Mr. John Quinley, stated: "Land Pride is very committed to establishing our new Off-Road Light Utility Vehicles' "Runabout" and "Treker" series with every advantage to fulfill our customer's needs. Cycle Country's long history of customer satisfaction and high quality, guaranteed ATV accessory products, allowed us to make our decision for this exclusive relationship with complete confidence. We are truly excited about this valuable alliance and look forward to a rewarding future for both parties."
Cycle Country's CEO and President, Mr. Ron Hickman, commented: "It is indeed an historical day to have an industry leading company with the reputation and financial depth of Land Pride and Great Plains, select us as their official ATV accessory provider. All of us at Cycle Country view this as an opportunity to further the success of our friends at Land Pride while establishing our credible presence in the Lawn & Garden industry at the highest level."
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 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 9 heavy-duty equipment products for their utility vehicles.
For the latest SEC filings or past news releases, 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: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
CONTACT: Heritage First Capital & Equity Research Group, LLC
Heathrow, Fla.
Scott Gibson, 407/444-5959
24 hr: 407/620-1930
CYCY@heritagefirstcapital.com
heritagefirstcapital.com
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| To: jmhollen who started this subject | 4/24/2003 12:03:38 AM | | From: jmhollen | | | | Cycle Country's New Lawn & Garden Products Gain Global Exposure Directly Through World's Foremost Outdoor Outfitter, Cabela's
MILFORD, Iowa--(BUSINESS WIRE)--April 22, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), an industry leader for more than 20-years in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that Cabela's, the world's foremost outfitter of outdoor gear and equipment is now offering the complete Weekend Warrior lawn & garden equipment product line. Weekend Warrior, Inc., a wholly owned subsidiary of Cycle Country, produces heavy-duty equipment attachments, which are manufactured for garden tractors and custom-fit most utility vehicles within the lawn & garden industry.
This represents an important step in keeping with the Company's initiative to quickly establish a solid position within this lucrative market. In less than 12-months, Cycle Country has garnished a formidable presence in the lawn & garden industry. The acquisition of Weekend Warrior in June 2002 coupled with the Company's on-going lawn & garden product development success have lead to several valuable relationships and product sales outlets with worldwide industry leaders.
Today, Cycle Country manufactures an expanding number of accessories for John Deere's popular line of Gator utility vehicles along with several heavy-duty implements and accessories for John Deere's lawn & garden tractors. In addition to manufacturing lawn & garden equipment for several other OEM's as well, the Company recently began offering their Weekend Warrior brand name garden equipment attachments to their vast distribution network throughout North America and several foreign countries. Now, Cycle Country is able to offer the Weekend Warrior lawn & garden equipment products through Cabela's, the largest mail order, retail and Internet outdoor outfitter in the world.
Mr. Ken Horner, Director of Marketing for parent company Cycle Country, stated: "Securing Weekend Warrior product exposure through Cabela's represents a milestone event for elevating our lawn & garden marketing success. Cabela's unquestionable leadership position and highly respected product offerings certainly bodes well for establishing greater sales of our expanding line of Weekend Warrior quality lawn & garden equipment products."
Cabela's (http://www.cabelas.com) is a privately held company employing over 5,000 people nationwide. Their world headquarters is located in Sidney, Nebraska along with a 250,000 square foot state-of-the-art operations facility. Since 1961, the Company has grown to be the #1 outdoor outfitter in the world. In addition to being the foremost outfitter of hunting, fishing and outdoor gear, Cabela's is the most diversified leader in the outdoor equipment business. The Company's retail division operates sizable stores in Kansas, Michigan, Minnesota, Nebraska, Pennsylvania (late 2003), South Dakota, Wisconsin and a West Virginia store slated to open in 2004 along with the Company's fourth distribution facility in the United States.
The foundation of Cabela's success has been their world-famous catalogs. The Company produces more than 30 separate catalogs each year and mails in excess of 90 million to all 50 states and 125 countries annually with subscriptions increasing consistently year over year. Cabela's recently mailed their comprehensive "2003 Spring Catalog" featuring the complete Weekend Warrior lawn & garden product line.
Cabela's is experiencing exceptional growth within their Internet operations division since going live with their e-commerce web site cabelas.com in 1998. In other noteworthy developments, Cabela's chartered the World's Foremost Bank, N.A. in 2001. The bank is also headquartered in Sidney, NE with additional operations in Lincoln, Nebraska to provide co-branded credit card support, customer service, risk management and payment processing exclusively for Cabela's Visa cardholders.
Although many accolades have been bestowed to Cabela's over their 40-year history, the Company's more recent awards include: ShotBusiness magazine's "2002 Retailer of the Year;" Sporting Goods Business magazine's "2002 Specialty Retailer of the Year" and BizRate.com "2001 Circle of Excellence Award" for outstanding web site performance over the holiday season. Also in 2001, Catalog Age magazine ranked Cabela's Catalog as the 5th most popular catalog, just behind direct-mail giants J.C. Penney and Sears. Recognizing superb organizational management and employee satisfaction can be attributed to Forbes magazine (Jan. 2000 issue) listing Cabela's as one of the "Top 100 Companies To Work For."
About Cycle Country Accessories Corp.
Cycle Country, cyclecountry.com, with over 50% of the worldwide market in several product categories, is an 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 utility ATV equipment products along with an expanding line of recreational ATV accessories. The Company's products custom fit virtually every ATV make on the market and are distributed to essentially all 8,000 plus ATV and motorcycle dealers in North America.
Cycle Country has 19 international distributors that sell their products in 35 countries throughout Asia, Europe, Central and South America. Additionally, then Company dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to OEM's worldwide. The Company sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and manufactures numerous garden equipment products for their utility vehicles.
For the latest SEC filings or past news releases, 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 Corp's Corporate Offices: 2188 Hwy. 86 Milford, Iowa 51351 800.841.2222.
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Cycle Country Accessories Corporation, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."
CONTACT: Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
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| To: jmhollen who started this subject | 5/16/2003 10:47:56 AM | | From: jmhollen | | | | Cycle Country Achieves 22.9% Revenue Growth in Second Quarter; Company Delivers Impressive Operating Income Profit Versus a Year Ago Loss
MILFORD, Iowa--(BUSINESS WIRE)--May 16, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), announced second quarter revenues of $2,732,562 for the three-month period ended March 31, 2003. This represents a 22.9% increase compared with revenues of $2,223,399 during the corresponding fiscal period in 2002. The double-digit increase during the second quarter is mainly attributable to an increase in sales volume from the Company's market leading Snowplow Blade products. The Company received late season orders from their distributors for Cycle Country's popular snowplow blades and related winter-season products through the end of April 2003 in comparison to last year's similar product shipments ending in early January 2002.
The 22.9% revenue jump of $509,163 for the Company's second quarter was also augmented by steady growth of new product sales to John Deere. Additional revenue increases came from the Company's expanded sales of their Perf-Form oil filter and oil cooler products to their network of distributors covering over 8,000 motorcycle dealers throughout North America. Further positive results are unfolding due to management's aggressive efforts to address seasonality issues, expand into the Lawn & Garden market while strengthening the market-leading position of their current ATV accessory products.
The Company delivered positive operating income of $74,884 verses a loss of $9,773 in the same period during 2002. However, additional expense was incurred from the expanded number of production personnel in the Wheel Cover division to incorporate the clear coat process, which was developed to meet the demands of their approximate 90% worldwide market share. Also impacting the second quarter's operating profits was the reconfiguration of the Company's snowplow blades. As the outright market leader in this product category, the Company decided to increase the durability and standard features even further while maintaining competitive pricing that also includes a lifetime warranty.
While the increased production personnel and product reconfiguration impacted second quarter operating profits, it should strengthen the Company well going forward. The Company anticipates strong sales growth from new and existing products in most categories and all divisional operations to significantly boost profitability throughout the remaining fiscal year ending September 30th.
Mr. Ron Hickman, CEO and president of Cycle Country, stated: "Cycle Country will continue to forge ahead of the competition with focus and determination. Strengthening our market leading positions while quickly establishing solid market success with our new product introductions is of primary importance. Management's commitment to building shareholder value has lead to several courageous but well thought out initiatives over the last twelve months. Our entrance into the lawn & garden market, product manufacturing sales to John Deere, 25% plant expansion, increased production levels, enhanced quality manufacturing and new brand product introductions have positioned the Company for greater profitability and record revenues throughout the remainder of our fiscal year and beyond."
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 utility ATV equipment 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 throughout 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. Cycle Country has "Preferred Vendor" status with and manufacturers numerous utility vehicle attachments for John Deere & Co.
For the complete 10-QSB 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.
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Cycle Country Accessories Corporation, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."
CONTACT: Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com |
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