Cycle Country Sees Revenue Growth of 12.5% in October; Increasing demand for snowplows and OEM attachments continue to drive growth
MILFORD, Iowa, Nov. 11, 2003 (PRIMEZONE) -- Cycle Country Accessories Corp. (AMEX: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 revenues for October were $2,241,000 versus $1,988,000 for 2002, an increase of over 12.5%. Rising demand for the company's industry-leading snowplows as well as Original Equipment Manufacturers (OEM) accessories produced in concert with new product introductions were catalysts for ATC's record October.
Cycle Country's increasing sales of snowplow blades are following industry trends of expanding growth in the ATV market. According to a Powersports Business survey, ATV sales are projected to grow 8.5% this year. The blades, along with the ATC's other custom fitting accessories, are a natural add-on when someone purchases an ATV.
Working with their OEM partners, Cycle Country has also been able to design and manufacture their accessories to be available when one of the partners launches a new product line. This is extremely important for these manufacturers, as they have a full line of additional products to sell to customers who are excited about the introduction of the new products.
"We, along with our OEM partners, are committed to producing the highest quality accessories on the market." says Ron Hickman, President and CEO of Cycle Country, "Our engineering and manufacturing ability is recognized by the industry. Our OEM relationships are able to make our equipment available to an ever-growing audience through their dealer network. "
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 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 to essentially all ATV and motorcycle dealers in North America.
The Company has 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 worldwide. The Company sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty garden equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under their brand name Weekend Warrior.
For the latest SEC filings or past news releases, go to the company's website at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Todd Doom at Modern Media, LLC. (317)413-7990.
Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351, 800.841.2222