| From: jmhollen | 5/16/2005 11:27:12 AM | | | | | | Cycle Country Announces 2nd Quarter Earnings Results; Company reiterates $.40 cents 2005 EPS Guidance and Projects 25% EPS increase for 2006, Conference Call Scheduled for 10:00 am EDT, Tuesday, May 17th
5/16/2005 11:22:01 AM
MILFORD, Iowa, May 16, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced preliminary results for second quarter fiscal 2005. The complete filing is available at www.SEC.gov.
Revenues for the three months ended March 31, 2005 decreased from $5,381,420 to $2,809,226, or by 47.8%. Cost of goods sold also saw a decrease by 49.1% from $3,912,365 to $1,991,754. Gross profit as a percentage of revenue was up for the second quarter to 29.1% compared to 27.3% in second quarter ended March 31, 2004. The increase in gross profit as a percentage of revenue, according to management, is attributed to the implementation of price increases on products, that due to increased raw material or other input costs, had fallen below standard gross profit levels.
Meanwhile, gross profits in dollars decreased by 44.4% in the second quarter ended March 31, 2005 from $1,469,055 to $817,472. Sales to U.S. distributors and OEM customers during the second quarter of 2005 also decreased compared to the second quarter of 2004 by 52.7%. The decrease in revenues is due to a much milder and shorter winter season this year, which reduced the demand for many of Cycle Country products.
According to Ron Hickman, President and CEO of Cycle Country Accessories Corporation, "Results for the second quarter of fiscal 2005 did not equal the results for the second quarter of fiscal 2004, but current second quarter results did meet our baseline growth projections. We remain confident in our earlier projections of 40 cents per share for fiscal year 2005, and are forecasting 50 cents a share for fiscal 2006." He went on to say that he expects to see stronger results for the third and fourth quarters of fiscal 2005 as distributors and OEM customers anticipate ordering product more steadily, and at levels equal to what they ordered during the last two quarters of fiscal 2004. In anticipation of these ordering expectations, management has built up inventory during this second quarter in order to fulfill the third and fourth quarters to level out production runs, and avoid costly overtime labor.
Cycle Country projects the completed acquisition of their largest supplier will provide additional profits, and cost reductions by combining operations. Additional benefits of the acquisition include an increase to company revenues, gross profits, and a return on investment for shareholders in the latter half of fiscal 2005. The merger along with other efforts to better utilize staff members, and reduction in expenses are helping to improve performance and future growth. New products for the Yamaha V-Star along with providing products at various auto part stores also hold promise for the company and shareholders.
Additionally, Cycle Country continues to focus on containing costs and reducing expenses while maintaining a consistent level of administrative support. To accomplish these goals as well as meet revenue goals, the company plans to expand their OEM business as well as continue developing new products, and strengthening their position in current markets with new and current product lines.
Conference call:
The company will have a conference call at 10:00 am EDT, Tuesday May 17, 2005 to answer investor questions. Conference call information to be addressed in a later release.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield at Magellan Financial Media Group, LLC, 317-867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 5/16/2005 7:32:52 PM | | | | | | Cycle Country Discusses 2nd Quarter Earnings; Company Reiterates $.40 Cents 2005 EPS Guidance and Projects 25% EPS Increase for 2006 - 5/16/2005 7:09:01 PM
MILFORD, Iowa, May 16, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced preliminary results for second quarter fiscal 2005. The complete filing is available at www.SEC.gov. A conference call has been scheduled for tomorrow, Tuesday, May 17th at 10:00 am EDT.
Participants may dial into 1-800-683-1575 or for international callers 1-973-935-2106. When prompted, listeners must enter the conference ID number 6079976.
The telephonic replay of the conference call will be available until May 24th. To access the conference replay, participants will dial into 1-877-519-4471, international at 1-973-341-3080. When prompted, they must enter the conference ID number 6079976. A link to the conference call will also be available on Cycle Country's website.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 6/15/2005 12:34:39 PM | | | | | | Cycle Country Focuses on Building Dealer Relationships; Road Trip Builds Value in Long Term Relationships - 6/15/2005 7:00:02 AM
MILFORD, Iowa, Jun 15, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced that it has embarked on a vigorous and extensive relationship building campaign with dealers of all Cycle Country Accessories products.
One of Cycle Country's dedicated sales representatives has been visiting some of the more than 10,000 Cycle Country dealers, including those that qualify for the Elite Dealer Program, across the United States. By the end of July, six weeks on the road will equate to more than 100 visits with dealers with the goal of building relationships, which creates for more satisfied customers.
"Relationships are what drive business," said Cycle Country President and CEO, Ron Hickman. "Without our dealers, we wouldn't be as successful as we are, and we place a high value on our relationships with all of our dealers. We're not making a sales call. We're building value. We're seeing how we can be of better service to our dealers and ultimately our customers."
Mr. Hickman noted that each of the dealers visited to date have expressed gratitude for the visits, and tremendous satisfaction with all Cycle Country products. Most agreed that Cycle Country's efforts to get product to dealers in a timelier and efficient manner has made a strong difference in satisfaction with Cycle Country.
Cycle Country currently has more than 200 Elite Dealers across the country. To qualify for the Elite program, dealers must purchase 20 or more snowplows on one purchase order.
About Cycle Country Accessories Corporation
Cycle Country, with over 50%of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions Theresia Whitfield, Communications Director at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 6/21/2005 3:14:40 PM | | | | | | Cycle Country Accessories Subsidiary to Produce Aviation Products; Partnership established with Challenger Aviation - 6/21/2005 7:00:06 AM
MILFORD, Iowa, Jun 21, 2005 (BUSINESS WIRE) -- Perf Form, a wholly owned subsidiary of Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced it will soon receive the first of many new orders from Challenger Aviation for oil filters and oil coolers.
The products were designed specifically for use in the aviation industry. The coolers have gone through rigorous testing by an independent lab verifying their strength, and to ensure they will exceed FAA standards. Ron Hickman, President and CEO of Cycle Country said both systems significantly passed all tests qualifying them for use in the aviation industry.
"We feel this new relationship with Challenger Aviation opens up a new market for both products," explained Hickman. "It is exciting to see our premium line of 'made in the USA' filters and coolers being used in this industry."
The two products will initially be used on Rotax, four cylinders, 65 - 100 H.P. engines, which are used in the sports aircraft market.
"Challenger Aviation provides only high quality aftermarket accessories that exceed the O.E.M. specifications," stated Chuck Rocco, President of Challenger Aviation. "We felt the Perf-form filters and coolers are a great fit for our product line."
Hickman expects a significant rise in filter and cooler sales throughout the remainder of 2005. The new product will be released later this summer at the Oshkosh Air Show in Wisconsin.
About Challenger Aviation
Chuck Rocco founded Challenger Aviation Products, Inc., in Ohio, in 1999 for the purpose of developing a line of high quality aircraft filters. All Challenger air filters are manufactured under FAA/PMA certification.
To learn more, visit www.challengeraviation.com.
About Cycle Country Accessories Corporation
Cycle Country, with over 50%of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on Investor Relations. Direct any financial questions to Theresia Whitfield, Magellan Financial Media Group (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 7/13/2005 11:39:46 AM | | | | | | Cycle Country Expecting Strong Fourth Quarter; Company Seeing Increase in Purchase Orders - 7/13/2005 11:36:01 AM
MILFORD, Iowa, Jul 13, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced it is seeing a rise in purchase orders from distributors.
Cycle Country Accessories President and CEO, Ron Hickman believes the increase in purchase orders is a good indication the company is back on track, as orders continue to grow. "We had an excellent fourth quarter in 2004, and all indications are that 2005 will produce an excellent fourth quarter as well," said Hickman.
Hickman went on to say, "We have ramped up manufacturing and assembly so as to meet the increase in purchase orders. We currently have deliveries scheduled out as far as the end of August."
The management team at Cycle Country Accessories anticipated the increase in order expectations and subsequently built up inventory during second quarter 2005 in order to fulfill third and fourth quarter orders. Their efforts have leveled out production runs, avoided costly overtime labor, and will ensure orders are delivered on time.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 7/26/2005 6:12:41 PM | | | | | | Cycle Country Announces Partnership with Master Lock; Winch Mounts to Be Provided for All Master Lock Winches
7/26/2005 7:00:02 AM
MILFORD, Iowa, Jul 26, 2005 (BUSINESS WIRE) -- Cycle Country Accessories (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced that it has entered into a partnership with Master Lock. Cycle Country will supply winch mounts for all Master Lock's winches. The winches are already available for sale in Wal Mart stores across the country.
While customers will not be able to purchase the winch mounts at the store, all Cycle Country winch mounts will be available through a special ordering process. Laminated fitment guides will be available next to all Master Lock winches. The fitment guides will provide the correct ordering information for customers needing winch mounts.
Ron Hickman, President and CEO of Cycle Country Accessories had high praise for Master Lock, the leader in padlocks and security products. "We're proud of our new association with Master Lock," stated Hickman. "This company has been around for a long time, and we trust the marriage of our two products will make for a successful union for both companies."
Cycle Country is confident this synergistic partnership will be of tremendous benefit and value for both companies as well as shareholders.
About Master Lock
Master Lock, based in Milwaukee, Wisconsin, is the world's largest manufacturer of padlocks and related security products for automotive, home and yard, contractors, recreational and commercial needs. For additional information, visit www.masterlock.com.
About Cycle Country Accessories Corporation
Cycle Country, with over 50%of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield, Communications Director at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 8/15/2005 7:31:27 PM | | | | | | Cycle Country Announces 3rd Quarter Earnings Results; Conference
Call Scheduled for 11:00 a.m. EST, Thursday, August 18
8/15/2005 4:47:01 PM
MILFORD, Iowa, Aug 15, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, today announced results for third quarter fiscal 2005. The complete filing is available at www.SEC.gov.
Revenues for the three months ended June 30, 2005 decreased 18.5% from $4,067,499 to $3,314,455 as dealers returned to seasonal buying patterns and management increased inventories to meet anticipated demand for the fourth quarter. Cost of goods sold decreased $640,347 to $2,366,152, or a total of 21.3% as a result of the lower revenue and managements continued cost saving initiatives.
Gross profit as a percentage of revenue increased approximately 3% for the third quarter ended June 30, 2005 as compared to third quarter ended June 30, 2004. The integration of Simonsen Iron Works, Inc., Cycle Country's largest supplier, is starting to show increases to gross profit due to more efficiency in the manufacturing process, better scheduling of production, allowing for increased utilization of the trucking fleet and an increase of inventory, just to name a few. Another significant reason for the increase in gross profit percentage was due to management implementing price increases on products that, due to increased raw material or other input costs, had fallen below standard gross profit levels.
Ron Hickman, President and CEO of Cycle Country, said third quarter results of fiscal 2005 did not meet management's baseline growth projections but believes investors can look forward to strong results for the fourth quarter of fiscal 2005. "Everything supports our earlier statements that this fourth quarter will be a very strong quarter for us," said Hickman. "A few of our largest distributors indicate that their July orders for Cycle Country product are up 40-50% over last year. Distributors are indicating low levels of inventory of Cycle Country product at dealer and warehouse locations. Therefore, we are seeing very strong truckload orders from our distributors for August and September deliveries." Hickman concluded that scheduling for Cycle Country product has extended into October. His management team has implemented efficiencies and increased inventory to accommodate the recent influx in sales orders.
Management expects to release interim results for July next week as part of a continuing effort to keep investors informed of Cycle Country's progress.
Conference call:
The company will have a conference call at 11:00 am EST, Thursday, August 18, 2005 to answer investor questions. Conference call information to be addressed in a later release.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 8/16/2005 3:16:56 PM | | | | | | Cycle Country Speaks About 3rd Quarter Earnings
8/16/2005 2:55:01 PM
MILFORD, Iowa, Aug 16, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corporation (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, yesterday announced preliminary results for third quarter fiscal 2005. The complete filing is available at www.SEC.gov. A conference call has been scheduled for Thursday, August 18 at 11:00 a.m. EST.
Participants may dial into 1-800-683-1575, international 1-973-935-2106. When prompted, they must enter the conference ID number 6386810.
The replay of the conference call will be available until August 25th. To access the conference replay, participants will dial into 1-877-519-4471, international at 1-973-341-3080. When prompted, they must enter the conference ID number 6386810.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Theresia Whitfield at Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Theresia Whitfield, 317-867-2839
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| From: jmhollen | 9/9/2005 5:10:49 AM | | | | | | Cycle Country Stepping Up Marketing Efforts with Sponsorship in ARCA RE/MAX Series Event at the Chicagoland Motor Speedway; The Race to Air Live on the SPEED Channel
9/8/2005 9:58:01 AM
MILFORD, Iowa, Sep 08, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf carts, is pleased to announce the official race sponsorship for FitzBradshaw Racing's Joel Kauffman at the S-K Hand Tool 200 - ARCA RE/MAX Series race. The event to be held at the Chicagoland Motor Speedway, airs live on the SPEED channel, Saturday, September 10th. In addition to exposure at the event, Cycle Country will be featured on the weekly reality TV show; NBS 24/7 televised every Monday evening on the SPEED channel at 7:30 pm and re-airs several more times throughout the week.
NBS 24/7 offers a national audience an in-depth, behind-the-scenes access to drivers owners, crew chiefs and the racing drama that surrounds the series through a variety of race commentary and interviews.
Cycle Country intends to promote the Cycle Country brand, as well as its wholly owned subsidiaries, Weekend Warrior and Per-Form oil filters.
"The audience for this type of event encompasses the demographics in which we market our products," Brad Danbom, Cycle Country's VP of Sales and Marketing said. "We are impressed with Joel. He is an excellent up and coming driver that is getting noticed. We are looking forward to the race and the great national exposure it will bring for our company."
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view the company information, updates, the latest SEC filings or past news releases, go to the company's web site at www.cyclecountry.com and lick on the Investor Relations heading. Please direct any financial questions to Magellan Financial Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Group, LLC
317-867-2839
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| From: jmhollen | 9/14/2005 10:50:51 AM | | | | | | Cycle Country's August Net Income Increases 3% Over Last Year; Recent Acquisition Improving Profits
9/14/2005 9:58:07 AM
MILFORD, Iowa, Sep 14, 2005 (BUSINESS WIRE) -- In the contact section, the phone number for Marlin Molinaro should read: 702-434-4131 (sted 702-403-4131).
The corrected release reads: CYCLE COUNTRY'S AUGUST NET INCOME INCREASES 3% OVER LAST YEAR; RECENT ACQUISITION IMPROVING PROFITS
Cycle Country Accessories Corp. (ATC), the recognized leader in developing and manufacturing a variety of products for the all-terrain vehicle (ATV), garden tractors, and golf carts, is pleased to announce net income for August 2005 increased 3% to $324,049 from $313,485 in the same period last year.
"We continue to see improvements in gross margin and net income percentages," says Ron Hickman, President and CEO of Cycle Country. "As we work to increase our revenues, the benefits to our shareholders should be evident in our bottom line."
For the first eleven months of fiscal 2005, revenues are $15,268,910 and net income is $982,710.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATVs). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior, and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form.
cyclecountry.com
perf-form.com
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, Inc.
Marlin Molinaro, 702-434-4131
or
David Dozier, 317-867-2839
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