| To: jmhollen who started this subject | 5/29/2002 4:46:35 PM | | From: jmhollen | | | | Cycle Country Signs Purchase Agreement With Weekend Warrior Inc. to Shortly Conclude Their Second Acquisition Since March 2002
MILFORD, Iowa, May 28, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announced today that the Company has entered into a definitive purchase agreement to acquire Weekend Warrior, Inc. The purchase is subject to certain closing conditions, including inventory evaluation of Weekend Warrior. The Company anticipates the acquisition to be completed before the end of Cycle Country's third quarter on June 30, 2002.
Since 1992, Weekend Warrior, Inc., headquartered in Lubbock, Texas, has designed and manufactured a full line of heavy-duty agricultural equipment for Utility ATV's and Garden Tractors. The Company's established farming plow models require no three point hitches for easy hook-up to all ATV and Tractor makes. These renowned quality products with the well-recognized Weekend Warrior brand name, will further Cycle Country's new product development in the Lawn & Garden industry. Additionally, Weekend Warrior's products will allow the attachment of many of Cycle Country's existing products to Lawn & Garden vehicles.
In making this announcement, Ronald Hickman, President of Cycle Country, stated: "The management team at Cycle Country is committed to building greater shareholder value through product and market expansion. As such, we will continue to seek established profitable companies with compatible product lines providing new markets and new product sector opportunities. This timely acquisition will strengthen Cycle Country's entrance into the lucrative Lawn & Garden market. Weekend Warrior's long-standing reputation for quality and strong brand recognition reflects two of our key consideration parameters. We believe we can fully capitalize on our strong distribution channels to enhance this already profitable division and further both companies new product growth and market share."
Weekend Warrior, Inc. founder Donald Pigg, said: "All of us at Weekend Warrior are very excited about the chance to join Cycle Country. We have worked diligently over the last 10 years to make premium products and to establish Weekend Warrior as a respected name in the industry. With Cycle Country's immense distribution network, it is extremely gratifying to have the opportunity to see our products available to consumers worldwide."
About Cycle Country Accessories Corp.
Cycle Country, cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the utility all-terrain vehicle. Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Yamaha, Polaris, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's products are distributed by 16 distributors who sell their products to virtually all ATV and motorcycle dealers in North America.
The Company has also developed arrangements with 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. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407.772.7723 from 9am until 5pm (EST). Cycle Country Accessories headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222
CONTACT: Veritas Capital Group, Heathrow, Fla. Scott Gibson, 407/772-7723 CYCY@veritascap.com |
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| To: jmhollen who started this subject | 5/31/2002 10:45:40 AM | | From: jmhollen | | | | Corporate Profile for Cycle Country Accessories Corp., dated May 31, 2002
May 31, 2002 (BUSINESS WIRE) -- The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: May 31, 2002 Company
Name: Cycle Country Accessories Corp.
Address: 2188 Hwy. 86 Milford, Iowa, 51351
Main Telephone Number: 800/841-2222
Internet Home Page Address (URL) cyclecountry.com
Chief Executive Officer: Ronald Hickman
Chief Financial Officer: David Davis
Investor Relations Contact: Scott Gibson
Business number: 407/772-7723
E-mail address: cycy@veritascap.com
Public Relations Contact: Scott Gibson
Business number: 407/772-7723
E-mail address: cycy@veritascap.com
Industry: Misc. Capital Goods
Trading Symbol/ Exchange: CYCY/OTCBB
Market Makers:
ALEX/ALPS/ALWC/BLOW/FLTT/FRAN/GVRC/HILL/IFSC/ISRC
LTCO/MHMY/MLNJ/NITE/PGON/PRGM/PUGS/SCHB/STRE/VFIN
WIEN/WSEI
Company Description: Cycle Country Accessories Corp., cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of high quality, 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 other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Yamaha, Polaris, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's products are distributed by 16 distributors who sell their products to virtually all ATV and motorcycle dealers in North America.
The Company has also developed arrangements with 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. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
CONTACT: Cycle Country Accessories Corp |
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| To: jmhollen who started this subject | 7/9/2002 12:29:23 PM | | From: jmhollen | | | | Cycle Country Takes The Lead In Complying With The SEC's New Order Requiring Sworn Written Statements By Corporate Officers
MILFORD, Iowa--(BUSINESS WIRE)--July 9, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company is taking the initiative with regard to the historical new order decree by The Securities and Exchange Commission (SEC).
On June 28, 2002 the SEC published a list of 945 companies whose chief executive and chief financial officers are now required to personally certify in writing and under oath that their most recent reports filed with the Commission are both complete and accurate. The order is intended to assure the investing public and the SEC that corporate disclosure in reports previously filed this year, is in compliance with all federal securities laws.
The SEC's order applies to companies with reported annual revenues in excess of $1.2 billion. The order requires the principal executive and financial officers of SEC registered companies to file a sworn written statement to personally attest that the company's most recent periodic reports are materially truthful and complete or explain why such a statement would be incorrect. Officers who make false certifications will face personal liability.
In the June 28th announcement from Washington D.C., SEC Chairman Harvey L. Pitt said: "This is an unprecedented step to help restore investor confidence. We are demanding that CEOs and CFOs swear that the numbers they've reported in their financial reports are correct and that they have left nothing out."
In response to the SEC announcement, Cycle Country president Ron Hickman stated: "Even though we are not required to file these sworn written statements as noted by the SEC's order, we strongly welcome an environment of truth and accountability. Prior to joining Cycle Country in 1996, my accounting firm provided the fairness opinions and signed-off on the Company's books for 15 years. As the former CFO of Cycle Country and current President, I will continue to sign-off on all financial filings along with our current CFO, Dave Davis. Further, both Mr. Davis and myself will adhere to the new certification order decree by the SEC even though it does not apply to us. As a public company, we believe that investor and shareholder confidence is essential to our existence and we will go to any lengths to insure the public's continued trust."
About Cycle Country Accessories Corp.
Cycle Country, cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the 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 accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. 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 strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. 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.
With the Company's recent acquisitions, Cycle Country also sells premium oil filters for ATVs and motorcycles through the brand name Perf-form Products and ATV and tractor farming equipment attachments nationwide through the brand name Weekend Warrior.
For further information forward your e-mail request to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407.774-3028 from 9am until 5pm (EDT). Cycle Country 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.
CONTACT: Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/774-3028
CYCY@veritascap.com |
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| To: jmhollen who started this subject | 8/15/2002 9:03:34 AM | | From: jmhollen | | | | Cycle Country Records Positive 3rd Quarter Numbers with Increases in Revenues, Gross Profits and Net Profits
MILFORD, Iowa--(BUSINESS WIRE)--Aug. 15, 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 revenues of $2,286,391 for the three-month period ending June 30, 2002. This represents a 1.8% increase compared with record revenues of $2,246,879 for the same period in 2001. Gross profit as a percentage of revenues was 34.9% for the third quarter compared to 27.2% for the same period in 2001. The increase of 7.7% in gross profit is primarily the result of lower material costs and manufacturing input cost realized in the Wheel Cover segment through greater gains in labor efficiency and better manufacturing processes.
An increase in ATV accessory and Wheel Cover sales to OEMs and sales of the recently acquired Perf-Form premium oil products offset a decrease in Snowplow Blade and Mower unit sales during the 3rd quarter. The company anticipates further revenue increases for the 4th quarter of fiscal 2002 ending September 30th.
The seasonality of one of Cycle Country's most popular products, the snowplow blade, was negatively impacted due to distributors already meeting their quotas. This past spring, distributors did not need to order more products to achieve rebate program goals or certain quotas as they did last year. This did not occur because most distributors had already achieved rebate incentive levels during the regular retail-selling season. This bodes well for the Company since distributor inventory levels are much lower going into the prime dealer ordering season, which historically leads to increased orders and sales activity over the next two quarters.
The Company foresees the selling, general and administrative expenses to remain consistent or to decrease slightly as a percent of revenues during the remainder of calendar 2002. This will be achieved from the increased production of new and existing products from the current manufacturing capacity available at their operating facilities.
Cycle Country president, Ron Hickman stated: "Other key factors contributing to increased revenues during the 3rd quarter and anticipated revenue increases for the 4th quarter include the continuing success of our new product introductions and the re-engineering of our mainstay products. Additionally, the successful completion of acquiring Perf-Form Products and their premium motorcycle and ATV oil filters should begin to have a more positive impact to earnings going forward." Mr. Hickman further commented: "We will continue to address the seasonality of any products by a focus on untapped geographical locations, expansion into the Lawn & Garden market and increased sales and marketing efforts. Our long established tradition of success continues as Cycle Country will record its 21st year of sustained profitability with our fiscal year ending next month on September 30, 2002."
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 mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories 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. Through Cycle Country's most recent acquisition of Weekend Warrior and their superior farm 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 cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407/772-7723 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222.
CONTACT:
Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/772-7723
CYCY@veritascap.com
or
Cycle Country Accessories Corporation, 800/841-2222
. |
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| To: jmhollen who started this subject | 8/29/2002 10:19:23 AM | | From: jmhollen | | | | Cycle Country Announces Full Capacity Production Levels During The 4th Quarter And Expands On Recent 3rd Quarter 10-QSB Filing
MILFORD, Iowa--(BUSINESS WIRE)--Aug. 29, 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 manufacturing and production operations at their plant facilities in Iowa are running at near full capacity during the Company's fiscal 4th quarter ending September 30, 2002. This impressive capacity achievement reflects full production mode or ramp-up activities from all division categories. Regarding the Company's ATV accessories, key distributors' consistent strong order demand for the popular snowplow blades are leading the way. The increase in orders is expected to continue through calendar year-end, as low inventory levels must be replenished for the coming winter season.
The Company's acquisition of Perf-form Products in March 2002 is also pushing production levels higher to fulfill record demand from motorcycle and ATV dealers throughout North America. With Cycle Country's much greater distribution network to over 8,000 dealerships, increased orders for Perf-form's premium oil filters has already surpassed last year's production numbers for this time period. The Company is addressing additional production capacity as new orders from dealers continue to arrive from all geographical areas of the U.S.
With Cycle Country also targeting the Lawn & Garden market, the Company has increased their production operations. The recent acquisition of Weekend Warrior in June has added several well-established heavy-duty garden equipment products to the production mix. These high quality garden equipment attachments will augment several new and re-engineered accessory products developed by Cycle Country for garden trailers and ATVs.
Some of the Company's other ATV accessories and Wheel Cover sales to OEMs continue to show quarter-to-quarter increases. Additionally, the Company's Wheel Cover segment should produce greater profit margins through gains in labor efficiency and better manufacturing processes. Overall, Cycle Country anticipates significant revenue increases for the 4th quarter of fiscal 2002 as compared to the previously reported 3rd and 2nd quarters, respectively.
Cycle Country president, Ron Hickman stated: "The stronger than anticipated order flow for Perf-Form's high-performance motorcycle and ATV oil filters has been a pleasant surprise. With continuous new orders coming in from our distributors nationwide, the successful completion of acquiring them has been that much more rewarding. This is a very exciting time for Cycle Country as we continue to ramp-up production for lawn & garden products from our most recent acquisition of Weekend Warrior. Solid demand for our Wheel Covers from OEMs worldwide and our introduction of new or improved ATV accessory products continue to keep us at high production levels."
Mr. Hickman further commented: "In fact, we have already addressed the need for expansion of our production and manufacturing facilities here in northwest Iowa. The management and employees deserve an awful lot of credit. Their work ethic, commitment to the customer and production of the highest quality products continue to make our Company grow and prosper. For the fourth quarter, we expect greater revenues and stronger earnings. With our fiscal 2003 beginning on October 1st, we all have very high expectations with the addition of two solid acquisitions contributing to our profitability during all four quarters."
As announced earlier, revenues for the three-month period ending June 30, 2002 totaled $2,286,391. This represented a 1.8% increase compared with revenues of $2,246,879 for the same period in 2001. Gross profit of $797,791 equaled a 30% increase for the third quarter compared to $611,430 in gross profit for the same period in 2001. Income from operations for the 3rd quarter totaled $197,344 as compared to $58,641 during the corresponding period last year. Net income after taxes from the most recent quarter totaled $91,214, which represents a 56% increase from the net income of $58,588 for the 3rd quarter of 2001. Fully diluted earnings per share (EPS) for the quarter ending June 30, 2002 were $0.03 compared with EPS of $0.01 for the same quarter in 2001.
For further financial review, please see accompanying notes to the condensed consolidated financial statements associated with the Company's Form 10-QSB filing with the S.E.C. for the most recent quarter ending June 30th.
The results of operations for the interim periods (3-months & 9-months respectively) ended June 30, 2002 and 2001 are not necessarily indicative of the results to be expected for the full year. These interim consolidated financial statements should be read in conjunction with the September 30, 2001 consolidated financial statements and related notes included in the Company's Annual Report on Form 10-KSB for the year ended September 30, 2001.
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 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 cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407.772.7723 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
Cycle Country Accessories Corp. and Subsidiaries
Condensed Consolidated Statements of Income
Three Months Ended June 30,
2002 2001
---------- ---------
(Unaudited) (Unaudited)
Revenues:
Net sales $ 2,256,472 $ 2,222,460
Freight income 29,919 24,420
-------------- -----------
Total revenues 2,286,391 2,246,880
-------------- -----------
Cost of goods sold (1,488,600) (1,635,450)
-------------- -----------
Gross profit 797,791 611,430
-------------- -----------
Selling, general, and administrative
expenses (600,447) (552,789)
-------------- -----------
Income from operations 197,344 58,641
-------------- -----------
Other Income (Expense):
Interest expense (64,741) -
Interest income 724 6,221
Miscellaneous 6,101 (6,274)
-------------- -----------
Total other expense (57,916) (53)
-------------- -----------
Income before provision
for income taxes 139,428 58,588
-------------- -----------
Provision for income taxes as a
C corporation (48,214) -
-------------- -----------
Net income $ 91,214 $ 58,588
============== ===========
Weighted average shares outstanding:
Basic 3,704,019 3,698,250
============== ===========
Diluted 3,704,019 4,098,250
============== ===========
Earnings per share:
Basic $ 0.03 $ 0.02
============== ===========
Diluted $ 0.03 $ 0.01
============== ===========
CONTACT: Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/772-7723
CYCY@veritascap.com
or
Cycle Country Accessories Corporation, 800/841-2222
. |
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| To: jmhollen who started this subject | 9/17/2002 11:03:38 AM | | From: jmhollen | | | | Cycle Country's Board Of Directors Buys 5% of the Company's Outstanding Stock in the Open Market
MILFORD, Iowa--(BUSINESS WIRE)--Sept. 17, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), is pleased to announce that several members of the Company' Board of Directors filed Form 4's on September 10, 2002 denoting a significant accumulation of the Company's outstanding shares. The recent filings also reflect that there have been no sales of CYCY stock from the Company's Board of Directors or Executive Management since Cycle Country went public last February.
The individual Form 4 filings show Board Director Mr. L.G. Hancher's wife buying 35,000 shares during the month of August with the aggregate amount of stock bought in the market to date totaling 138,000 shares. Board Director Mr. Rod Simonson also bought 13,400 shares during August with his total stock position now standing at 33,000 shares. Cycle Country founder and Board Chairman, Mr. Jim Danbom personally bought 10,000 during the month of August as well. This accumulation of CYCY stock in the open market totals 181,000 shares and represents 5% of all outstanding shares.
Board Director Rod Simonson stated: "Obviously, our continuing stock purchases reflect a very strong belief in Cycle Country's current value and anticipated value. Market conditions not withstanding, we are convinced that this fundamentally sound company represents one of the most undervalued equity investments in the market today."
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 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 accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout North America 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 strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. 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 premium oil filters for ATVs and motorcycles through the brand name Perf-form Products. Additionally, the Company now offers ATV and heavy-duty tractor garden equipment nationwide through the brand name Weekend Warrior.
For further information, you may e-mail your request to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group by calling 407/444-5959 from 9am until 5pm (EST) or via CYCY@veritascap.com. Cycle Country Headquarters: 2188 Highway 86, Milford, Iowa 51351 - 800/841-2222
CONTACT:
Veritas Capital Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@veritascap.com
or
Cycle Country Accessories Corp.
800/841-2222
. |
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| 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
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