Message #8 From:
NewsBot Date: December 28, 2005 01:00:00 AM
ATC News Cycle Country Announces November Results; Gross Profit and Operating Income Continue to Drive Results
MILFORD, Iowa--(BUSINESS WIRE)--Dec. 28, 2005--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 preliminary November results show operating income up nearly 19 percent and gross profit is up over 39 percent from November 2004.
Gross profit grew from $691,672 the second month of last year to $960,304 during the same time period of fiscal 2004. Operating income grew 18.8 percent year over year, from $334,487 to $397,257. Revenues for the month fell slightly to $1,976,185 but remained within previously released revenue guidance of $22 - 24 million for the year.
"We continue to see improved gross profit and operating income," said Ron Hickman, President and CEO of Cycle Country Accessories Corporation. "Our Weekend Warrior products continue their strong growth, almost quadrupling sales from last year."
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.
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".
