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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From: jmhollen | 10/5/2005 12:58:21 PM | | | | Cycle Country Accessories Corp. Has Strong End to Fiscal Year; Company Enters 25th Year on High Note 10/4/2005 7:00:01 AM
MILFORD, Iowa, Oct 04, 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 today announced it has had a strong finish to its 2005 fiscal year.
While final numbers have not yet been released, President and CEO Ron Hickman said shareholders can expect an increase in revenue of 10% over last year for the month of September. September's revenue is expected to be about $1.9 million compared to $1.7 million in September 2004.
The company also experienced record breaking months in two of the last four months of its fiscal year. June and September produced record numbers of units sold for snowplows. Those figures are based on the number of push tubes sold in those months.
"We're finishing the year strong," said Hickman. "And we're very encouraged going into next year. Demand for our product is very strong, and we expect that to continue right through the winter."
Hickman noted that production schedules continue to remain busy going into the next fiscal year, with October being completely booked.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication.
cyclecountry.com perf-form.com
SOURCE: Cycle Country Accessories Corp. Magellan Financial Media Group David Dozier, 317-867-2839 . |
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From: jmhollen | 2/13/2006 4:55:28 PM | | | | Cycle Country Reiterates Previous Guidance of 38-40 EPS for Fiscal 2006; Gross Profit Increases 34%
MILFORD, Iowa, Feb 13, 2006 (BUSINESS WIRE) -- Cycle Country Accessories Corp. the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf carts, today announced its earnings of .07 cents per share for first quarter of fiscal 2006 versus .10 cents per share for first quarter fiscal 2005. These figures are based on fully diluted shares of 5,244,938 in 2005 compared to the current number of shares of 7,225,579. While total revenue declined just over two percent from $5,623,739 to $5,501,508, gross profit increased 34% from $1,667,515 to $2,221,397. Income from operations also saw an increase of nearly 16% from $785,501 to $908,756 while cash increased from $2,215,156 to $3,144,444 year over year, nearly a 42% increase.
"We are especially pleased with gross profit increasing by more than a third," stated Dave Davis, Chief Financial Officer, Cycle Country Accessories Corporation. "With a more than 40% increase in cash, we are well positioned for the upcoming fiscal year and beyond."
While this winter has been warmer than average, the company's other divisions, Weekend Warrior, Contract Manufacturing, and Plastic Wheel Covers, continue to grow at a tremendous rate. "Cycle Country continues to move forward in its goal of becoming less seasonal with projected growth in three of its four divisions of between 37% (plastic wheel covers) to more than 1,300% (Weekend Warrior)," added Davis.
Davis went on to note that the acquisition of Simonsen Iron Works in the third quarter of 2005 increased both the interest expense as well as the amount of shares the net income was spread over in the year over year comparison. The Simonsen acquisition is proving to be both EBIT and EBITDA positive.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication. www.cyclecountry.com www.perf-form.com
SOURCE: Cycle Country Accessories Corp. Magellan Financial Media Group Mark Gilbert, 317-867-2839 Copyright Business Wire 2006
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From: jmhollen | 2/16/2006 10:06:31 AM | | | | Cycle Country Reduces Long-Term Debt by $1 Million; Reduction Represents 15% of Outstanding Balance Last Update: 7:00 AM ET Feb 16, 2006
MILFORD, Iowa, Feb 16, 2006 (BUSINESS WIRE) -- Cycle Country Accessories Corp. the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf carts, today announced it has paid down one million dollars in principle of long-term debt in January 2006. The announcement was made during the fiscal first quarter conference call held on February 15, 2006. The call has been archived at www.cyclecountry.com . The one million dollars applied to principle represented just under 15% of the outstanding balance at the time of the payment.
In addition to the substantial interest savings over time, the reduction gives Cycle Country Accessories the option to skip payments for cash flow needs without suffering any penalties. Management stresses that their cash flow needs are more than adequate.
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication. cyclecountry.com perf-form.com
SOURCE: Cycle Country Accessories Corporation Magellan Financial Media Group Mark Gilbert, 317-867-2839
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From: jmhollen | 3/28/2006 7:37:43 AM | | | | Cycle Country Announces Former John Deere Executive as CEO; John Gault to Serve as Interim CEO
MILFORD, Iowa, Mar 28, 2006 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (AMEX: ATC), the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf carts, today announced that Board member John S. Gault will serve as interim CEO.
John Gault has been a member of the Cycle Country board for more than one year. He has had a 30 year career with Deere and Company and worked with several subsidiaries of the company before retiring as General Manager of John Deere Harvester Works in October 2002. In this role, he was responsible for all operations of a nearly $2 billion annual sales agricultural equipment factory producing combine, header, service parts, OEM sales as well as inter-factory cylinder sales. During his tenure, he was awarded the Manufacturing Excellence award from the Society of Manufacturing Engineers while his factory was selected as one of the ten best in the United States in the application of new technology. He has also served on Product Councils for combines in North America, Western Europe and South America.
"We're excited to have John and his experience on board," said Jim Danbom, Chairman of the Cycle Country Board of Directors. "The Board was dissatisfied with our return on invested capital and decided we needed a change to enhance shareholder value and growth going forward. John will hold the CEO position until a suitable candidate is found."
About Cycle Country Accessories Corporation
Cycle Country, with over 50% of the worldwide market in several product categories, is the industry leader in the design and manufacturing of custom-fitting accessories for virtually every brand of utility all-terrain vehicles (ATV's). Cycle Country also produces accessories for the lawn and garden market through its subsidiary, Weekend Warrior and makes high performance oil filters for the motorsports industry through its wholly owned subsidiary, Perf-Form. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication.
cyclecountry.com
perf-form.com
SOURCE: Cycle Country Accessories Corp.
CONTACT: Cycle Country Accessories Corp. by Magellan Financial Media Group Mark Gilbert, 317-867-2839
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From: jmhollen | 4/11/2006 8:53:38 AM | | | | Cycle Country Announces New ''SS'' Wheel Cover in Full Production; $400,000 in Revenue Projected Yet This Year
MILFORD, Iowa, Apr 11, 2006 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (AMEX: ATC), the recognized leader in developing and manufacturing a variety of products for the all terrain vehicle (ATV), garden tractors, and golf cars, today announced that it has shipped and fulfilled the first batch of orders for the "SS" Chrome Wheel Cover and is entering its third week of full production.
With a major golf car OEM committed to taking at least the first 30 days production as an exclusive and other golf car OEMs and distributors anxious to place their orders, the company expects production of the "SS" to remain at full strength through the next 18 months.
"With the level of commitment and interest we have from our golf car customers, we expect the "SS" to provide us with about $400,000 in revenue this year," stated Brad Danbom, Vice President of Sales and Marketing. "The enthusiasm we are seeing for this wheel cover is tremendous."
The wheel cover is based on a 60's muscle car style mag wheel with a chrome automotive look, and it covers the entire rim. The patent-pending design gives it the appearance of an aluminum rim.
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. In April of 2005, Cycle Country acquired Simonsen Iron Works, now operating as Cycle Country, Spencer, providing metal fabrication.
www.cyclecountry.com www.perf-form.com
SOURCE: Cycle Country Accessories Corp. CONTACT: Cycle Country Accessories Corp David Davis, 712-338-2701 (CFO) investorrelations@cyclecountry.com John Gault, 712-338-2701 (interim CEO) investorrelations@cyclecountry.com
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