| From: jmhollen | 1/11/2005 12:38:06 PM | | | | | | Cycle Country Sees Gross Profit Growth of 18% for the First Two Months of Fiscal 2005; Increasing Demand for Snowplows Continue to Drive Growth 1/11/2005 8:00:00 AM
MILFORD, Iowa, Jan 11, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified industry products, is pleased to announce gross profits for the first two months of fiscal 2005 were $1,394000 versus $1,182,000 for fiscal 2004, an increase of 18%. Total revenues for October and November of fiscal 2005 were $4,022,000 compared to $3,829,000 for the same period in fiscal 2004. Gross profit as a percentage of revenue increased 3.8% to 34.7% for the first two months of fiscal 2005 from 30.9% for fiscal 2004.
Cycle Country's increasing sales of snowplow blades and other core products are following industry trends of expanding growth in the ATV market. According to a Motorcycle Industry Council report, ATV sales are projected to grow approximately 5% this year, reaching one million in unit sales. The blades, along with the ATC's other custom fitting accessories, are a natural add-on when someone purchases an ATV.
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 and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, 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 Todd Doom at Magellan Financial Media Group, LLC. (317) 867-2839.
SOURCE: Cycle Country Accessories Corp.
Magellan Financial Media Group, LLC
Todd Doom, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 1/25/2005 12:32:33 PM | | | | | | Continued Strong ATV Sales Trend Has Industry Analysts Projecting 2005 ATV Unit Sales to Reach 1.1 Million Worldwide 1/25/2005 8:00:00 AM
MILFORD, Iowa, Jan 25, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified industry products, announced today that ATV industry analysts project 2005 U.S. ATV sales to exceed 875,000 units and worldwide sales to exceed 1.09 million units, a steady 5% increase over 2004 U.S. and worldwide sales, respectively, as noted by Ehlert Powersports Business. Industry analyst, Tim Condor of A.G. Edwards, goes on to project that "U.S. retail unit ATV growth over the next several years will approximate mid-single digits" as the ATV segment continues to be "the most under-penetrated of the of the three major powersports segments and serves a wider variety of purposes when compared to snowmobiles and watercraft."
"As one of the world's largest manufacturers of ATV accessories, we have the proven know-how and capacity to outfit every major brand of utility ATV out there today, as well as tomorrow," stated Ron Hickman, President and CEO of Cycle Country. "The ATV industry has seen solid growth over the last ten years and so has Cycle Country. We are excited by the projections that the growth will continue for several more years," continued Ron Hickman. "Cycle Country's philosophy of making accessories to fit every major brand of utility all terrain vehicle made means that an ATV owner has the opportunity to increase the functionality of their ATV so that it can do more and work harder."
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 and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, 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 Todd Doom at Magellan Financial Media Group, LLC. (317) 867-2839.
SOURCE: Cycle Country Accessories Corp.
Magellan Financial Media Group, LLC
Todd Doom, (317) 867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 2/14/2005 12:21:51 PM | | | | | | Cycle Country Reports 1st Quarter Results; ATC Continues To Shine
with Gross Margin Increase of 5% and Net Income Up 32% 2/14/2005 8:03:00 AM
MILFORD, Iowa, Feb 14, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified industry products, announces that net income increased $127,991 (32%) to $532,101 for the three months ended December 31, 2004. Gross margin as a percentage of revenue increased 5% as cost containment initiatives continue to be implemented.
First quarter highlights:
-- Revenues of $5,623,739 were in line with last year's record level.
-- Net income increased 32% to $532,101.
-- Gross profit as a percent of revenue increased approximately 5% to 29.5%.
-- Gross profit in dollars increased 18.4% to $1,657,515.
-- Increase in the company's cash position of $1,157,000 with no bank debt.
-- Net working capital increased $742,350 to $5,569,689 at
December 31, 2004 from $4,827,339 at September 30, 2004.
-- International sales increased 38% as compared to the first quarter of last year.
-- The Company's signature product, Snowplow Blades, continued to shine as sales increased 3% over last year's first quarter record results.
-- Margins continue to improve as management continues its initiatives to cut/maintain costs and implement price increases where needed.
-- Continuing to see positive impact from management's quality initiative.
"The company is very pleased with the many positive results for this most recent quarter," said Mr. Ron Hickman, CEO and President of Cycle Country Accessories. "We anticipate that revenues, gross profits and net income for each of the remaining quarters of fiscal 2005 will do better than the results of fiscal 2004. We continue to address seasonality issues, expand into new markets, increase products produced for OEM's and strengthen the market-leading positions of our current products to provide strong, positive financial results."
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 and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, 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 Todd Doom at Magellan Financial Media Group, LLC. 317-867-2839.
SOURCE: Cycle Country Accessories Corp.
Magellan Financial Media Group, LLC
Todd Doom, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 2/16/2005 4:22:27 PM | | | | | | Cycle Country Announces Major Supply Chain Acquisition; Agreement in Principle Reached with the Largest Supplier; Transaction Should be Immediately Accretive to Earnings 2/16/2005 4:05:00 PM
MILFORD, Iowa, Feb 16, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified industry products, announces that it has reached an agreement in principle to purchase Simonsen Iron Works, Inc. simonsenironworks.com, the company's largest supplier. Under the terms of the agreement, Cycle Country is to pay $7 million in cash and issue 1.2 million shares of stock to the founders of Simonsen. Updated financial projections will be issued upon the final closing of the transaction.
"We are very pleased to announce this acquisition," said Mr. Ron Hickman, CEO and President of Cycle Country Accessories. "We feel the addition of Simonsen will allow us to continue to drive our gross margins and overall profits. The fact that we have worked with them for years should allow for a seamless transition. As we go through to closing we will be updating our guidance and increasing our estimated earnings."
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 and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, 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 David Finke at Magellan Financial Media Group, LLC. (317) 867-2839.
SOURCE: Cycle Country Accessories Corp.
Magellan Financial Media Group, LLC.
David Finke, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 3/29/2005 11:48:05 AM | | | | | | Industry Magazine Says Cycle Country Stands Above the Rest, Achieving a Dominating Dealer Endorsement Rating 3/29/2005 7:00:03 AM
MILFORD, Iowa, Mar 29, 2005 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified products announced the informal survey results from ATV Industry Magazine detailing Cycle Country's superior products. The magazine's "Market Watch" noted that Cycle Country leads "all brands in lawn and garden/farming and ranching accessory products" for reliability, efficiency and price.
More than 220 dealers were contacted by the magazine for this unscientific survey highlighting farm and ranch accessory sales compared to last year's sales. The magazine's assistant editor, Chris Davis, stated "Cycle Country stood out above the rest. We are told that Cycle Country combines an affordable, yet reliable plow for the end users of such products." He went on to quote one dealer who appreciated the affordability of the Cycle Country plow and that the "lever is much easier to use than other plows." Several other dealers mentioned that they were impressed with the Cycle Country brand, putting them at the top of the list of endorsements.
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 and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's).
To view company information, updates, 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 David Finke at Magellan Financial Media Group, LLC (317) 867-2839.
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."
SOURCE: Cycle Country Accessories Corp.
Magellan Financial Media Group, LLC
David Finke, (317) 867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 4/12/2005 7:10:47 AM | | | | | | Cycle Country Signs Definitive Agreement with Simonsen Iron Works; Deal to Close by End of April 4/12/2005 7:00:03 AM
MILFORD, Iowa, Apr 12, 2005 (BUSINESS WIRE) -- Cycle Country Accessories (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, has signed a definitive agreement to purchase the assets of Simonsen Iron Works. The transaction will be closed by April 30, 2005. The final consideration that was agreed upon consists of $7 million in cash and $8 million in shares of the company's restricted common stock with a strike price of $6.50. The two companies' combined results will be reflected in the last five months of Cycle Country's Fiscal Year.
"We are buying nearly ten million dollars in hard assets along with Simonsen's proven earning power," said Ron Hickman, President and CEO of Cycle Country. "We invite our shareholders to view their impressive facilities at simonsenironworks.com."
"We have worked with Cycle Country's management since their inception in 1981 and because of that relationship, we have the utmost confidence in their ability to execute a seamless transition and provide strong leadership after the companies come together," stated Simonsen President, Alan Bailey. "We look forward to remaining shareholders in this combined entity."
Simonsen, based in Spencer, Iowa, is a fourth generation family-run business dedicated to developing high quality solutions for custom manufacturing needs since 1906. The services they provide include laser and plasma cutting, turret punching, tube bending, CNC machining, powder coating, and more.
"We anticipate that we will be able to provide updated guidance for the combined companies within a week of the closing of this transaction," Mr. Hickman added. "At that time, we will be increasing our EPS guidance for 2005 and 2006 Fiscal Years. In the future, we expect this to allow for greater efficiencies in our scheduling, purchasing and research and development, which will be of great benefit to our shareholders."
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 Magellan Financial Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories
Magellan Financial Group, LLC
David Finke, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 5/2/2005 11:11:21 AM | | | | | | Cycle Country Completes Acquisition of Simonsen Iron Works; Deal Solidifies 25-year Working Relationship - 5/2/2005 7:00:08 AM
MILFORD, Iowa, May 02, 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 formalized its 25-year working relationship by acquiring the assets of Simonsen Iron Works. The deal was completed at a closing Friday.
"This is a special day for the employees, customers, and communities of Cycle Country and Simonsen Iron Works," said Ron Hickman, President and CEO of Cycle Country Accessories Corporation. "Combining efforts of these two home-town, made-in-America companies will provide a more efficient process and product from which everyone can benefit."
Shareholders will find increased earnings per share through this acquisition through a pronounced effort on growing the Simonsen Iron Works product through Cycle Country. Simonsen Iron Works, based in Spencer, IA, is a fourth generation family-run business dedicated to developing high quality solutions for custom manufacturing needs since 1906. The services they provide include laser and plasma cutting, turret punching, tube bending, CNC machining, powder coating and more.
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 Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Todd Doom, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 5/4/2005 11:17:27 AM | | | | | | Cycle Country to Supply Full Line of Accessories for KYMCO ATV's - 5/4/2005 7:00:03 AM
MILFORD, Iowa, May 04, 2005 (BUSINESS WIRE) -- Cycle Country Accessories (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, announced today that it will provide a full line of accessories for KYMCO ATV's.
Cycle Country's entire line of ATV accessories is now available for the KYMCO MXU 250. KYMCO ATV is releasing several new products through the coming months, including a 300cc shaft drive machine, all of which will be fitted with Cycle Country accessories. These accessories will be marketed through Cycle Country's distribution system, which means that KYMCO dealers can purchase Cycle Country products through any one of 16 North American distributors.
In addition to blade systems, Cycle Country is also providing a rear hitch, winch mount and winch, grab light and thermal grip to KYMCO USA.
"We are impressed with the quality of the KYMCO ATV's," said Ron Hickman, President and CEO of Cycle Country Accessories. "They are expected to be a strong seller in the United States and are already one of the top selling ATV brands in Europe, according to our European distributors."
KYMCO USA, formerly known as STR, Inc., Motorsports Division, is the exclusive distributor of KYMCO brand scooters, motorcycles and ATV's for the United States. KYMCO USA's partnership with KYMCO Taiwan delivers a diverse selection of vehicles in categories from 50cc to 250cc.
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 Magellan Financial Media Group, LLC (317) 867-2839.
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Todd Doom, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: jmhollen | 5/10/2005 4:24:39 PM | | | | | | Perf-Form to Supply New Product for Yamaha V-Star; Remote Oil Filter to Provide Increased Revenue Potential to Product Line
5/10/2005 7:00:03 AM
MILFORD, Iowa, May 10, 2005 (BUSINESS WIRE) -- Perf-Form, a wholly owned subsidiary of Cycle Country Accessories Corp. (ATC), the industry leader in the design and manufacturing of custom-fitting accessories for utility all-terrain vehicles, announced today that it will provide a new product for Yamaha's top selling motorcycle, the V-Star 1100.
The cruiser style Yamaha V-Star 1100 has not had a design change since its inception. The current design has the oil filter placed behind the exhaust, creating a need to remove the exhaust before an oil change can take place. Perf-Form has developed a remote filter assembly that is designed to save time and money as well as wear and tear on the machine.
"This is a win-win deal for Perf-Form and its customers," said Ron Hickman, President and CEO of Cycle Country. "The customer can buy a remote filter, and change the price of an oil change from $100 to about $20. Once installed, the exhaust will never have to be removed to change the oil."
Additionally, the remote filter has been shown to drop the operating temperature by up to 25 degrees. Perf-Form has also used the best in materials for the remote system including CNC billet Aluminum, and SS braided lines, which allows for a match with today's custom design and look.
Mr. Hickman added that he is confident the new product will result in huge sales for Perf-Form, which will directly benefit shareholders. "A lot of V-Star's have been sold in the last seven years," stated Mr. Hickman. "Yamaha will continue to offer the V-Star in the future, and this product will add tremendous potential to the V-Star line of products."
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 Todd Doom Magellan Financial Media Group, LLC (317) 867-2839.
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 the 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".
SOURCE: Cycle Country Accessories Corporation
Magellan Financial Media Group, LLC
Todd Doom, 317-867-2839
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| 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
. |
| | ATC - Cycle Country Accessories Corporation | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| |
