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CYCY: SEC Litigation, Judgement, and $3.1 million Restitution Order:
http://www.sec.gov/litigation/litreleases/2013/lr22661.htm
See "..News.." at the new ATC Board..: http://www.investorshub.com/boards/read_msg.asp?message_id=1589384
"...........It's Official.............."!!!
CYCY is now on the AMEX as symbol: ATC
Please see the new iHub discussion board at: http://www.investorshub.com/boards/board.asp?board_id=1762
John
American Stock Exchange Lists Common Stock of Cycle Country Accessories Corp.
MILFORD, Iowa--(BUSINESS WIRE)--June 16, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY) the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the Trading of shares of Cycle Country Accessories Corp. (the company) on the American Stock Exchange (Amex) is expect to begin at the market opening on Thursday June 19, 2003 under the symbol "ATC". The Company has selected Performance Capital Group to be responsible for trading the Company's common stock on the Amex.
Mr. Ron Hickman, President and CEO, stated, "We are quite pleased to join the American Stock Exchange. We chose Amex because of their demonstrated commitment to the success of their listed companies. The unique nature of the auction market provides liquidity, narrower spreads and lower volatility. This listing achieves an important milestone in our strategy for enhancing shareholder value with the stability of a national exchange. It also provides both the visibility and the access that are of paramount importance to large institutional investors."
"We are pleased to welcome Cycle Country Accessories to the growing number of innovative companies listed on the American Stock Exchange," said John McGonegal, vice president of the Amex Equities Group. "In listing at the Amex, Cycle Country will benefit from our personalized services in addition to gaining the increased investor attention and support needed in today's competitive marketplace. We look forward to working with Cycle Country and helping them build long-term shareholder value to increase opportunities for future growth."
Investors holding Cycle Country Accessories Corp stock need take no action, as the stock conversion will occur automatically.
About Cycle Country Accessories Corp.
Cycle Country, http://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 ATV 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. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures many equipment products for their utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation operations are located at 2188 Hwy. 86 - Milford, Iowa 51351. The Company's Toll-Free # is 800.841.2222.
CONTACT: Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
Cycle Country Accessories Announces New Equity Financing Agreement
MILFORD, Iowa--(BUSINESS WIRE)--June 11, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), announced today that it has received the net proceeds from a $2.0 million equity financing agreement with the Laurus Master Fund, Ltd. The Laurus Master Fund, Ltd. is a private equity fund that specializes in providing financing to emerging small and mid capitalization companies.
David Grin, Manager of the Laurus Master Fund, Ltd. stated, "This funding should provide Cycle Country Accessories Corp with capital necessary to continue its strategic initiatives. Laurus Funds believes in the strength of the management."
Ron Hickman, President and CEO of Cycle Country Accessories Corp, stated, "This agreement permits us to go forward in the near term with our desire for a national listing for the company. Further details on the terms of the transaction with Laurus are available in the Company's 8-K, filed today with the Securities and Exchange Commission."
About Cycle Country Accessories Corp:
Cycle Country, http://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. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures many equipment products for their utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351 - 800.841.2222.
CONTACT:
Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
Cycle Country Delivers 32% Revenue Growth For April & May 2003
MILFORD, Iowa--(BUSINESS WIRE)--June 5, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the combined revenues for April and May 2003 totaled $2,131,529 compared to sales of $1,617,413 for the same two months last year. This revenue increase of $514,116 represents a 32% jump from the corresponding two months during the Company's fiscal third quarter in 2002.
The management of Cycle Country has projected total 2003 revenues of $15.6 million and earnings of $0.32 per share. Through the first 8-months of fiscal 2003 ending September 30th, management's revenue projections remain on track. First established in January 2003, the revenue estimates stated $980,000 for April and $727,000 for May. Actual performance came in at $1,084,000 for April and $1,047,000 for May, respectively.
Developments in several key areas continue to show remarkable results while directly addressing the Company's seasonality issues. There are two main areas impacting the greater revenue numbers during the lesser second and third quarters revenue cycles. One is Perf-form, which continues to experience increased distributor demand for the Company's full line of oil filter and filter cooler products for most metric motorcycle and ATV makes. This is in addition to increased sales from Cycle Country's complete North American distribution coverage for Perf-form's popular Harley-Davidson replacement filters. The other key growth segment starting to establish consistent month-to-month sales increases is from the Weekend Warrior product line for the lawn & garden market. Collectively, all product lines across the board from Perf-form's and Weekend Warrior's respective market segments are enhancing Cycle Country's revenue increases quarter to quarter throughout the Company's fiscal year.
Mr. Ron Hickman, CEO & President for Cycle Country stated: "Obviously, we are very pleased that our game plan is unfolding ahead of schedule. The management and indeed, every employee at Cycle Country is committed to growing the company. Recently, we have finalized an agreement and officially came to terms with Mr. Ray King to head up our plastics division. Rarely have we gone outside the Company to hire an individual with the depth of experience that Mr. King brings. With 30-years of hands-on industry knowledge and well-earned respect throughout the industry, we feel fortunate to have him on board during this exciting growth stage for Cycle Country Accessories Corp. Once again, we fully anticipate greater third and fourth quarter numbers to complete our fiscal year with record revenues."
About Cycle Country Accessories Corp.
Cycle Country, http://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. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures many equipment products for their utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351 - 800.841.2222.
CONTACT:
Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
Cycle Country Achieves 22.9% Revenue Growth in Second Quarter; Company Delivers Impressive Operating Income Profit Versus a Year Ago Loss
MILFORD, Iowa--(BUSINESS WIRE)--May 16, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), announced second quarter revenues of $2,732,562 for the three-month period ended March 31, 2003. This represents a 22.9% increase compared with revenues of $2,223,399 during the corresponding fiscal period in 2002. The double-digit increase during the second quarter is mainly attributable to an increase in sales volume from the Company's market leading Snowplow Blade products. The Company received late season orders from their distributors for Cycle Country's popular snowplow blades and related winter-season products through the end of April 2003 in comparison to last year's similar product shipments ending in early January 2002.
The 22.9% revenue jump of $509,163 for the Company's second quarter was also augmented by steady growth of new product sales to John Deere. Additional revenue increases came from the Company's expanded sales of their Perf-Form oil filter and oil cooler products to their network of distributors covering over 8,000 motorcycle dealers throughout North America. Further positive results are unfolding due to management's aggressive efforts to address seasonality issues, expand into the Lawn & Garden market while strengthening the market-leading position of their current ATV accessory products.
The Company delivered positive operating income of $74,884 verses a loss of $9,773 in the same period during 2002. However, additional expense was incurred from the expanded number of production personnel in the Wheel Cover division to incorporate the clear coat process, which was developed to meet the demands of their approximate 90% worldwide market share. Also impacting the second quarter's operating profits was the reconfiguration of the Company's snowplow blades. As the outright market leader in this product category, the Company decided to increase the durability and standard features even further while maintaining competitive pricing that also includes a lifetime warranty.
While the increased production personnel and product reconfiguration impacted second quarter operating profits, it should strengthen the Company well going forward. The Company anticipates strong sales growth from new and existing products in most categories and all divisional operations to significantly boost profitability throughout the remaining fiscal year ending September 30th.
Mr. Ron Hickman, CEO and president of Cycle Country, stated: "Cycle Country will continue to forge ahead of the competition with focus and determination. Strengthening our market leading positions while quickly establishing solid market success with our new product introductions is of primary importance. Management's commitment to building shareholder value has lead to several courageous but well thought out initiatives over the last twelve months. Our entrance into the lawn & garden market, product manufacturing sales to John Deere, 25% plant expansion, increased production levels, enhanced quality manufacturing and new brand product introductions have positioned the Company for greater profitability and record revenues throughout the remainder of our fiscal year and beyond."
About Cycle Country Accessories Corp.
Cycle Country, http://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 utility ATV equipment accessories. The Company's products custom fit virtually every brand of ATV on the market, which are distributed by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers throughout North America.
The Company has also developed 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 (OEM's) worldwide. Cycle Country sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for Garden Tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior. Cycle Country has "Preferred Vendor" status with and manufacturers numerous utility vehicle attachments for John Deere & Co.
For the complete 10-QSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 Milford, Iowa 51351 800.841.2222.
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."
CONTACT: Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
Cycle Country's New Lawn & Garden Products Gain Global Exposure Directly Through World's Foremost Outdoor Outfitter, Cabela's
MILFORD, Iowa--(BUSINESS WIRE)--April 22, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), an industry leader for more than 20-years in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that Cabela's, the world's foremost outfitter of outdoor gear and equipment is now offering the complete Weekend Warrior lawn & garden equipment product line. Weekend Warrior, Inc., a wholly owned subsidiary of Cycle Country, produces heavy-duty equipment attachments, which are manufactured for garden tractors and custom-fit most utility vehicles within the lawn & garden industry.
This represents an important step in keeping with the Company's initiative to quickly establish a solid position within this lucrative market. In less than 12-months, Cycle Country has garnished a formidable presence in the lawn & garden industry. The acquisition of Weekend Warrior in June 2002 coupled with the Company's on-going lawn & garden product development success have lead to several valuable relationships and product sales outlets with worldwide industry leaders.
Today, Cycle Country manufactures an expanding number of accessories for John Deere's popular line of Gator utility vehicles along with several heavy-duty implements and accessories for John Deere's lawn & garden tractors. In addition to manufacturing lawn & garden equipment for several other OEM's as well, the Company recently began offering their Weekend Warrior brand name garden equipment attachments to their vast distribution network throughout North America and several foreign countries. Now, Cycle Country is able to offer the Weekend Warrior lawn & garden equipment products through Cabela's, the largest mail order, retail and Internet outdoor outfitter in the world.
Mr. Ken Horner, Director of Marketing for parent company Cycle Country, stated: "Securing Weekend Warrior product exposure through Cabela's represents a milestone event for elevating our lawn & garden marketing success. Cabela's unquestionable leadership position and highly respected product offerings certainly bodes well for establishing greater sales of our expanding line of Weekend Warrior quality lawn & garden equipment products."
Cabela's (http://www.cabelas.com) is a privately held company employing over 5,000 people nationwide. Their world headquarters is located in Sidney, Nebraska along with a 250,000 square foot state-of-the-art operations facility. Since 1961, the Company has grown to be the #1 outdoor outfitter in the world. In addition to being the foremost outfitter of hunting, fishing and outdoor gear, Cabela's is the most diversified leader in the outdoor equipment business. The Company's retail division operates sizable stores in Kansas, Michigan, Minnesota, Nebraska, Pennsylvania (late 2003), South Dakota, Wisconsin and a West Virginia store slated to open in 2004 along with the Company's fourth distribution facility in the United States.
The foundation of Cabela's success has been their world-famous catalogs. The Company produces more than 30 separate catalogs each year and mails in excess of 90 million to all 50 states and 125 countries annually with subscriptions increasing consistently year over year. Cabela's recently mailed their comprehensive "2003 Spring Catalog" featuring the complete Weekend Warrior lawn & garden product line.
Cabela's is experiencing exceptional growth within their Internet operations division since going live with their e-commerce web site http://www.cabelas.com in 1998. In other noteworthy developments, Cabela's chartered the World's Foremost Bank, N.A. in 2001. The bank is also headquartered in Sidney, NE with additional operations in Lincoln, Nebraska to provide co-branded credit card support, customer service, risk management and payment processing exclusively for Cabela's Visa cardholders.
Although many accolades have been bestowed to Cabela's over their 40-year history, the Company's more recent awards include: ShotBusiness magazine's "2002 Retailer of the Year;" Sporting Goods Business magazine's "2002 Specialty Retailer of the Year" and BizRate.com "2001 Circle of Excellence Award" for outstanding web site performance over the holiday season. Also in 2001, Catalog Age magazine ranked Cabela's Catalog as the 5th most popular catalog, just behind direct-mail giants J.C. Penney and Sears. Recognizing superb organizational management and employee satisfaction can be attributed to Forbes magazine (Jan. 2000 issue) listing Cabela's as one of the "Top 100 Companies To Work For."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market in several product categories, is an 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 utility ATV equipment products along with an expanding line of recreational ATV accessories. The Company's products custom fit virtually every ATV make on the market and are distributed to essentially all 8,000 plus ATV and motorcycle dealers in North America.
Cycle Country has 19 international distributors that sell their products in 35 countries throughout Asia, Europe, Central and South America. Additionally, then Company dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to OEM's worldwide. The Company sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and manufactures numerous garden equipment products for their utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp's Corporate Offices: 2188 Hwy. 86 Milford, Iowa 51351 800.841.2222.
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."
CONTACT: Heritage First Capital & Equity Research Group
Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
.
Land Pride, A Division Of Great Plains Manufacturing, Inc. Selects Cycle Country As Official ATV Accessory Provider
MILFORD, Iowa--(BUSINESS WIRE)--April 2, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the outright leader in developing and manufacturing several custom-fitting accessories for the all-terrain vehicle (ATV), is very pleased to announce that Land Pride has selected the Company to be the official ATV accessory manufacturing provider for five (5) new utility vehicles. In addition to developing and manufacturing a full line of accessories for Land Pride all-terrain vehicles, Cycle Country has already designed and manufactured several standard and some optional accessories for each vehicle. These accessories include front and rear racks, brush guards, winch kits, rear screens and snowplows.
Land Pride (http://www.landpride.com), a division of Great Plains Mfg., Inc. is a recognized manufacturing leader in landscaping equipment throughout North America. Since 1986, Land Pride has become a major U.S. manufacturer of tractor and skid steer mounted implements including Rotary Tillers, Grooming Mowers, Overseeders, Rotary Cutters, Rear Blades and Landscape Rakes. With over 25 product groups and several hundred models, Land Pride has manufacturing plants in three communities in Central Kansas including Abilene, Kipp and Lucas. A fourth Land Pride manufacturing facility is located in Chetek, Wisconsin. Headquartered with the parent company in Salina, Kansas, Land Pride has an expanding network of over 1,400 national and international dealers and offers attractive financing options through a wholly owned subsidiary. Land Pride also provides complete shipping efficiency through their in-house trucking company.
Great Plains Manufacturing, Inc. (http://www.greatplainsmfg.com) is a privately owned company employing approximately 700 people throughout 7 manufacturing plants located primarily within the state of Kansas. Founded in 1976, Great Plains has established itself as a reputable worldwide manufacturing leader in the agricultural equipment industry through their dedication to innovative technology, quality workmanship and superior product performance. In 1983 the Company began exporting to nearly 40 countries and currently maintains distributor/dealer representation in over 20 countries. Great Plains Mfg. is made up of 4 divisions encompassing Great Plains, a manufacturer of heavy-duty agricultural planting, spraying and cultivating equipment; Land Pride, a manufacturer of a wide variety of landscaping products and an expanding number of utility vehicles; Great Plains Trucking, an over-the-road trucking company delivering Great Plains' products along with other companies products as well; and finally, Great Plains Acceptance Corporation, a wholly owned financing corporation.
The Director of Marketing for Land Pride, Mr. John Quinley, stated: "Land Pride is very committed to establishing our new Off-Road Light Utility Vehicles' "Runabout" and "Treker" series with every advantage to fulfill our customer's needs. Cycle Country's long history of customer satisfaction and high quality, guaranteed ATV accessory products, allowed us to make our decision for this exclusive relationship with complete confidence. We are truly excited about this valuable alliance and look forward to a rewarding future for both parties."
Cycle Country's CEO and President, Mr. Ron Hickman, commented: "It is indeed an historical day to have an industry leading company with the reputation and financial depth of Land Pride and Great Plains, select us as their official ATV accessory provider. All of us at Cycle Country view this as an opportunity to further the success of our friends at Land Pride while establishing our credible presence in the Lawn & Garden industry at the highest level."
About Cycle Country Accessories Corp.
Cycle Country, http://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. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures 9 heavy-duty equipment products for their utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com.
Cycle Country Accessories Corporation: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
CONTACT: Heritage First Capital & Equity Research Group, LLC
Heathrow, Fla.
Scott Gibson, 407/444-5959
24 hr: 407/620-1930
CYCY@heritagefirstcapital.com
http://www.heritagefirstcapital.com
Cycle Country's Revenues Increase Over 10% For January & February 2003
MILFORD, Iowa--(BUSINESS WIRE)--March 20, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the combined revenues for January and February 2003 totaled $1,723,426 compared to sales of $1,565,613 for the same two months last year. This represents an increase of 10.1% and does not factor in additional revenues from their wholly owned subsidiary Perf-form, Inc., acquired in March of 2002.
Although much of the increase can be attributed to greater sales of the Company's market leading snowplow blades from several winter storms that blanketed large areas of the Midwest and Northeast, this notable increase also reflects positive growth numbers from many of Cycle Country's ATV accessory products. Additionally, revenue numbers from Perf-form oil filters alone are already on pace to add 3% in revenue during fiscal 2003 from total 2002 revenues of $13.4 million.
Through the first 5-months of fiscal 2003 ending September 30th, management' s revenue projections remain on track. After meeting their revenue estimates of $4.4 million for the 1st quarter ended December 31, 2002, the Company remains confident in achieving 2nd quarter estimates of $2.6 million. The management of Cycle Country has projected total 2003 revenues of $15.6 million and earnings of $0.32 per share.
Developments in other key areas continue to show positive results. The Company's recently completed 28,000 square foot plant addition and subsequent move of Perf-form into the newly expanded facilities, has significantly increased manufacturing capacity for Perf-form while providing greater production efficiencies. Cycle Country's 16 distributors reaching over 8,000 motorcycle and ATV dealerships throughout North America, continue to increase their distribution orders from the Company's expanded production of a full line of oil filter products for most metric motorcycle and ATV makes. This is in addition to increased sales from Cycle Country's far greater distribution coverage for the popular Harley-Davidson replacement filters.
The CEO of Cycle Country, Mr. Ron Hickman, stated: "Our commitment last year to address seasonality issues, expand into new markets and strengthen current product sales has begun to positively impact the Company's revenue and earnings numbers. While increased production and sales of Perf-form will continue to fuel some of the Company's growth this year, our wholly owned subsidiary Weekend Warrior's heavy-duty garden tractor equipment is just now reaching the marketplace. We have also experienced new revenue growth during the first two quarters of fiscal 2003 from our October production start of 9 different lawn & garden attachments for John Deere's utility vehicles. Management fully expects strong growth momentum to continue throughout the two remaining fiscal quarters. In fact, further developments should come to light shortly that will reinforce expanded product availability coverage and Cycle Country's entrance into a whole new industry segment."
About Cycle Country Accessories Corp.
Cycle Country, http://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. Cycle Country has "Preferred Manufacturing Vendor" status with John Deere and currently manufactures 9 heavy-duty equipment products for John Deere utility vehicles.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
CONTACT: Heritage First Capital & Equity Research Group, LLC
Heathrow, Fla.
Scott A-B Gibson, 407/444-5959
24 hr: 407/620-1930
CYCY@heritagefirstcapital.com
http://www.heritagefirstcapital.com
.
Cycle Country Manufactures Lawn & Garden Products for John Deere and Begins Expanded Production of Their Perf-Form Oil Filter Product Line Amid Increased Distributor Demand
MILFORD, Iowa--(BUSINESS WIRE)--Feb. 5, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce the commencement of production for their Perf-form oil filter line of products out of the Company's recently completed 28,000 square foot expansion to their main facilities in northwest Iowa.
After acquiring Perf-form Products last year, the Company recently concluded the move of Perf-form from Big Lake, Minnesota to their manufacturing facilities in Milford, Iowa. The newly completed expansion increases plant operations by approximately 25% and significantly enhances the manufacturing capacity for Perf-form's products while reducing labor cost. Cycle Country's distribution network has significantly expanded Perf-form's U.S. coverage, which has lead to record breaking distributor demand from all geographical areas. The Company is also expanding production from the popular Harley-Davidson chrome replacement filters to a full line of oil filter products for most metric motorcycles and ATV makes.
In other news, Cycle Country continues to build a trusted and respected name in the lawn & garden industry. Since last fall, the Company has been manufacturing nine (9) newly developed products for Deere & Company after working in conjunction with them on all product designs. These heavy-duty attachments for lawn & garden tractors and other utility vehicles are being sold under the John Deere brand name. Cycle Country has recently attained the coveted "Preferred Manufacturing Vendor" status from John Deere and plans to continue as an OEM for this industry leader for many years. Additionally, the Company's own lawn & garden equipment products are now being sold throughout North America and some foreign countries under the brand name Cycle Country and Weekend Warrior.
Cycle Country's 1st quarter 10-QSB filing is due by February 15th, however the Company anticipates filing their quarterly financials no later than Friday, February 14th. Last month, Cycle Country management projected record revenues and earnings of $0.32 per share for fiscal 2003 ending September 30th.
Mr. Ron Hickman, president and CEO of Cycle Country, stated: "We are very pleased with how the first quarter numbers are coming in and expect to meet our stated projections throughout the remainder of our fiscal year. Although I have been involved with Cycle Country in one capacity or another for 20 years, this current period is perhaps the most exciting time in the Company's history. Much of this can be attributed to the individual sacrifices and corporate investments made over the last 24 months. All of us take great satisfaction with our growing relationship with John Deere, the smooth acclimation of both Perf-form and Weekend Warrior and finally, the successful completion of the sizable expansion to our manufacturing facilities."
You may review the complete financial projections stated during a conference call on January 21st over the Internet, which will be rebroadcast until May 1st. To listen to the webcast, please go to http://www.viavid.com and click-on the "Events" heading at top of page. Then scroll down and click-on Cycle Country Accessories Corp. Simply fill in the registration form where the only required info is your e-mail address and click "Register" to access the recorded call.
About Cycle Country Accessories Corp.
Cycle Country, http://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 by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 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 (OEM's) worldwide. Cycle Country sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for Garden Tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior.
For the complete 10-KSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407/444-5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800-841-2222.
CONTACT:
Heritage First Capital &
Equity Research Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
e-mail: CYCY@heritagefirstcapital.com
Cycle Country Announces Earnings Estimates For Fiscal 2003
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 23, 2003--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that management has issued financial projections for Cycle Country's fiscal year ending September 30, 2003.
During a conference call with the financial community and public this past Tuesday January 21st, Mr. Ron Hickman, CEO and President of Cycle Country shared corporate management's revenue and earnings forecast for 2003. For the current fiscal year ending September 30, 2003, management expects total revenue to reach $15,618,310, up from $13,363,552 for 2002. Income from operations is expected to total $2,147,649 as compared to $713,661 for the 2002 fiscal year. Income before provision for income taxes is projected to be $1,962,368 or 12.6% as a percentage of sales in comparison to $486,244 for 2002. Net income is estimated to come in at $1,255,916 or $0.32 earnings per share for fiscal year ending Sept. 30, 2003 as compared to $308,841 for fiscal 2002.
Positively impacting the anticipated financial growth numbers include, the Company's entrance into the lawn & garden market. Specifically, Cycle Country has completed designs for nine (9) new products in conjunction with Deere & Company, to be sold under the brand name John Deere. These products are heavy-duty equipment attachments for lawn & garden tractors and other utility vehicles. The Company has recently attained "Preferred Vendor" status from John Deere and plans to continue this well-established relationship for many years to come. Additionally, Cycle Country's lawn & garden equipment products will be sold throughout North America and some foreign countries, under one of their own brands named Weekend Warrior.
Further earnings growth is projected from their expanded distribution of Perf-form's oil and cooler filter product lines. This division's recent move from Minnesota to the Company's main operations in Milford, Iowa should be completed by month end. They expect to begin production by February 3rd in Cycle Country's new 28,000 square foot addition to their facilities. The Company's sizable expansion to their plant operations should also provide several cost saving efficiencies including reduced labor cost.
Demand for the Company's market leading snowplow sales have already reached record levels and should continue through the harsh winter months in the U.S. and Canada. These developments and the elimination of several extraordinary items and one-time expenses during 2002 should provide the Company with record revenue and earnings for fiscal 2003 ending September 30, 2003.
This week's conference call has been recorded and is available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN # 5439 395).
The conference call is also available over the Internet and will be rebroadcast until May 1st. To listen to the webcast, please go to http://www.viavid.com and click-on the "Events" heading at top of page. Then scroll down and click-on Cycle Country Accessories Corp. Simply fill in the registration form where the only required info is your e-mail address and click "Register" to access the recorded call.
About Cycle Country Accessories Corp.
Cycle Country, http://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 by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 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 (OEM's) worldwide. Cycle Country sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for Garden Tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior.
For the complete 10-KSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or via e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 -- Milford, Iowa 51351 -- 800.841.2222.
CONTACT: Heritage First Capital & Equity Research
Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
.
Cycle Country Announces Reduced Manufacturing Costs and Increased Capacity for Perf-form Oil Filter Product Line
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 21, 2003--
Management has Scheduled a Conference Call With the Investment Community for Today At 4:15 p.m. Eastern Time...See Details Below
Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company is near completion for the 28,000 square foot expansion of their multi-operational facilities in Milford, Iowa. The new construction will expand all vital plant areas including manufacturing, production, shipping and warehouse operations.
On a related note, the Perf-form Products manufacturing plant located in Big Lake, Minnesota will shortly conclude their move into the newly expanded facilities in Milford. This strategic move will significantly increase manufacturing capacity while reducing manufacturing costs for the Perf-form oil filter and cooler product lines. Cycle Country expects to be in production with this new manufacturing alignment to their main operations by February 3, 2003.
To reiterate last week's press release, corporate management has scheduled a conference call with the investment community for today Tuesday January 21st at 4:15 p.m. (EST). The purpose for the conference call is to review Cycle Country's fiscal 2002 results, current operations and projections for fiscal 2003 ending September 30, 2003. Management will also address an open dialogue during a question and answer session.
Investment professionals and the general public may access the call by dialing toll free at 1-800/245-1683 prior to the start of the phone conference at 4:15 pm. The conference call will be recorded and available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN No. 5439 395).
The conference call will also be broadcast live over the Internet. To listen to the web cast real time, please go to http://www.viavid.com and click-on the "Events" heading at top of page. Then scroll down and click-on Cycle Country Accessories Corp. Simply fill in the registration form where the only required info is your e-mail address and click "Register" to access the conference call. If you do not have Windows Media Player, it is suggested that you access the site in advance to download and install any necessary audio software at no charge. ViaVid will provide the rebroadcast of this web cast until May 1st.
About Cycle Country Accessories Corp.
Cycle Country, http://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 by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Cycle Country sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Cycle Country also manufactures heavy-duty garden equipment attachments for Garden Tractors, ATVs and other utility vehicles within the Lawn & Garden industry under the brand name Weekend Warrior.
For the complete 10-KSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407/444-5959 or via e-mail to CYCY@heritagefirstcapital.com . Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 Milford, Iowa 51351 800/841-2222.
CONTACT: Heritage First Capital & Equity Research
Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
.
Cycle Country Announces Conference Call To Discuss Fiscal 2002 Results And Management's Expectations For 2003
MILFORD, Iowa--(BUSINESS WIRE)--Jan. 15, 2003--Cycle Country Accessories Corp. (OTCBB: CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that corporate management has scheduled a conference call with the investment community for Tuesday January 21st at 4:15 p.m. (EST). The purpose for the conference call is to review Cycle Country's fiscal 2002 results, current operations and projections for fiscal 2003 ending September 30th. Management will also address an open dialogue during a question and answer session.
Investment professionals and the general public may access the call by dialing toll free at 1.800.245.1683 prior to the start of the phone conference at 4:15 pm. The conference call will be recorded and available for replay listening through Friday January 31st by calling toll free at 1-800-839-6713 or toll at 402-220-2306 (replay PIN # 5439 395).
The conference call will also be broadcast live over the Internet. To listen to the web cast real time, please go to http://www.viavid.com and click-on the "Events" heading at top of page. Then scroll down and click-on Cycle Country Accessories Corp. Simply fill in the registration form where the only required info is your e-mail address and click "Register" to access the conference call. If you do not have Windows Media Player, it is suggested that you access the site enough in advance to download and install any necessary audio software at no charge. ViaVid will provide the rebroadcast of this web cast until May 1st.
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, 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 lawnmowers, snowplows, spreaders, sprayers, hitches and many other utility and recreational equipment items. The Company's products custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout North America by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers. Additionally, with Cycle Country's acquisition of Weekend Warrior and their heavy-duty agricultural equipment attachments for trailers and ATVs, they are now marketing heavy-duty farm equipment for the Lawn & Garden industry.
The Company has also developed 19 international distributors that are currently selling 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 (OEM's) worldwide. Cycle Country also sells high-performance premium oil filters and oil coolers for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For additional corporate information or replays of the forthcoming conference call, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group by calling 407.444.5959 or by e-mail to CYCY@heritagefirstcapital.com. Cycle Country Accessories Corp. Headquarters: 2188 Hwy.86 -- Milford, Iowa 51351 -- 800.841.2222.
CONTACT: Heritage First Capital & Equity Research
Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@heritagefirstcapital.com
.
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Cycle Country Announces Groundbreaking for New 28,000 Sq. Ft. Expansion to their Existing Plant Facilities in Iowa
MILFORD, Iowa--(BUSINESS WIRE)--Sept. 30, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company held the official groundbreaking ceremony for a new 28,000 square foot expansion of their multi-operational facilities on Friday, September 27, 2002. Several board members, the Company's executive management and all Cycle Country employees attended the event.
The new construction, which is slated for completion by January 1st, 2003, will expand all vital plant areas including manufacturing, production, shipping and warehouse operations. The Company has been experiencing nearly full capacity production levels throughout much of the last quarter. This has been attributed to stronger demand for Cycle Country's existing products, new product introductions and greater distribution for several products from the Company's two recent acquisitions.
The Company has sufficient land available for further expansion in the years ahead and plans to continue to take advantage of their strategic location for national distribution at the intersection of two major highways. The location at Highway 71 and 86 in Northwest Iowa facilitates the Company's complete operations including the executive offices and all manufacturing, production, shipping and warehouses. The recent groundbreaking for additional space follows their last construction expansion in January 1997.
Cycle Country president, Ron Hickman stated: "The successful completion of this sizable expansion will allows us to maximize further growth plans and allow us to consider additional acquisitions too. Solid demand for our new or improved ATV accessory products should continue to keep us at high production levels. We continue to ramp-up production for lawn & garden products from our most recent acquisition of Weekend Warrior. Further, our Wheel Covers segment and premium oil filters from our Perf-form Products acquisition continue to show amazing growth."
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 mowers, plows, 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. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Cycle Country also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. With Cycle Country's most recent acquisition of Weekend Warrior and their superior garden equipment attachments for Trailers and ATVs, Cycle Country has begun marketing heavy-duty farm equipment for the Lawn & Garden market.
For the complete 10-QSB filing, go to the company's website at www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Heritage First Capital & Equity Research Group via e-mail to CYCY@veritascap.com or phone 407/444-5959 from 9 a.m. until 5 p.m. (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 - Milford, Iowa 51351 -- 800/841-2222.
CONTACT: Heritage First Capital & Equity Research Group
Scott Gibson, 407/444-5959
CYCY@veritascap.com
.
Cycle Country's Board Of Directors Buys 5% of the Company's Outstanding Stock in the Open Market
MILFORD, Iowa--(BUSINESS WIRE)--Sept. 17, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), is pleased to announce that several members of the Company' Board of Directors filed Form 4's on September 10, 2002 denoting a significant accumulation of the Company's outstanding shares. The recent filings also reflect that there have been no sales of CYCY stock from the Company's Board of Directors or Executive Management since Cycle Country went public last February.
The individual Form 4 filings show Board Director Mr. L.G. Hancher's wife buying 35,000 shares during the month of August with the aggregate amount of stock bought in the market to date totaling 138,000 shares. Board Director Mr. Rod Simonson also bought 13,400 shares during August with his total stock position now standing at 33,000 shares. Cycle Country founder and Board Chairman, Mr. Jim Danbom personally bought 10,000 during the month of August as well. This accumulation of CYCY stock in the open market totals 181,000 shares and represents 5% of all outstanding shares.
Board Director Rod Simonson stated: "Obviously, our continuing stock purchases reflect a very strong belief in Cycle Country's current value and anticipated value. Market conditions not withstanding, we are convinced that this fundamentally sound company represents one of the most undervalued equity investments in the market today."
About Cycle Country Accessories Corp.
Cycle Country, http://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 all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout North America by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
Cycle Country also sells premium oil filters for ATVs and motorcycles through the brand name Perf-form Products. Additionally, the Company now offers ATV and heavy-duty tractor garden equipment nationwide through the brand name Weekend Warrior.
For further information, you may e-mail your request to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group by calling 407/444-5959 from 9am until 5pm (EST) or via CYCY@veritascap.com. Cycle Country Headquarters: 2188 Highway 86, Milford, Iowa 51351 - 800/841-2222
CONTACT:
Veritas Capital Group, Heathrow, Fla.
Scott Gibson, 407/444-5959
CYCY@veritascap.com
or
Cycle Country Accessories Corp.
800/841-2222
.
Cycle Country Announces Full Capacity Production Levels During The 4th Quarter And Expands On Recent 3rd Quarter 10-QSB Filing
MILFORD, Iowa--(BUSINESS WIRE)--Aug. 29, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce that manufacturing and production operations at their plant facilities in Iowa are running at near full capacity during the Company's fiscal 4th quarter ending September 30, 2002. This impressive capacity achievement reflects full production mode or ramp-up activities from all division categories. Regarding the Company's ATV accessories, key distributors' consistent strong order demand for the popular snowplow blades are leading the way. The increase in orders is expected to continue through calendar year-end, as low inventory levels must be replenished for the coming winter season.
The Company's acquisition of Perf-form Products in March 2002 is also pushing production levels higher to fulfill record demand from motorcycle and ATV dealers throughout North America. With Cycle Country's much greater distribution network to over 8,000 dealerships, increased orders for Perf-form's premium oil filters has already surpassed last year's production numbers for this time period. The Company is addressing additional production capacity as new orders from dealers continue to arrive from all geographical areas of the U.S.
With Cycle Country also targeting the Lawn & Garden market, the Company has increased their production operations. The recent acquisition of Weekend Warrior in June has added several well-established heavy-duty garden equipment products to the production mix. These high quality garden equipment attachments will augment several new and re-engineered accessory products developed by Cycle Country for garden trailers and ATVs.
Some of the Company's other ATV accessories and Wheel Cover sales to OEMs continue to show quarter-to-quarter increases. Additionally, the Company's Wheel Cover segment should produce greater profit margins through gains in labor efficiency and better manufacturing processes. Overall, Cycle Country anticipates significant revenue increases for the 4th quarter of fiscal 2002 as compared to the previously reported 3rd and 2nd quarters, respectively.
Cycle Country president, Ron Hickman stated: "The stronger than anticipated order flow for Perf-Form's high-performance motorcycle and ATV oil filters has been a pleasant surprise. With continuous new orders coming in from our distributors nationwide, the successful completion of acquiring them has been that much more rewarding. This is a very exciting time for Cycle Country as we continue to ramp-up production for lawn & garden products from our most recent acquisition of Weekend Warrior. Solid demand for our Wheel Covers from OEMs worldwide and our introduction of new or improved ATV accessory products continue to keep us at high production levels."
Mr. Hickman further commented: "In fact, we have already addressed the need for expansion of our production and manufacturing facilities here in northwest Iowa. The management and employees deserve an awful lot of credit. Their work ethic, commitment to the customer and production of the highest quality products continue to make our Company grow and prosper. For the fourth quarter, we expect greater revenues and stronger earnings. With our fiscal 2003 beginning on October 1st, we all have very high expectations with the addition of two solid acquisitions contributing to our profitability during all four quarters."
As announced earlier, revenues for the three-month period ending June 30, 2002 totaled $2,286,391. This represented a 1.8% increase compared with revenues of $2,246,879 for the same period in 2001. Gross profit of $797,791 equaled a 30% increase for the third quarter compared to $611,430 in gross profit for the same period in 2001. Income from operations for the 3rd quarter totaled $197,344 as compared to $58,641 during the corresponding period last year. Net income after taxes from the most recent quarter totaled $91,214, which represents a 56% increase from the net income of $58,588 for the 3rd quarter of 2001. Fully diluted earnings per share (EPS) for the quarter ending June 30, 2002 were $0.03 compared with EPS of $0.01 for the same quarter in 2001.
For further financial review, please see accompanying notes to the condensed consolidated financial statements associated with the Company's Form 10-QSB filing with the S.E.C. for the most recent quarter ending June 30th.
The results of operations for the interim periods (3-months & 9-months respectively) ended June 30, 2002 and 2001 are not necessarily indicative of the results to be expected for the full year. These interim consolidated financial statements should be read in conjunction with the September 30, 2001 consolidated financial statements and related notes included in the Company's Annual Report on Form 10-KSB for the year ended September 30, 2001.
About Cycle Country Accessories Corp.
Cycle Country, http://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 mowers, plows, 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. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Cycle Country also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. With Cycle Country's most recent acquisition of Weekend Warrior and their superior garden equipment attachments for Trailers and ATVs, Cycle Country has begun marketing heavy-duty farm equipment for the Lawn & Garden market.
For the complete 10-QSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407.772.7723 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86 - Milford, Iowa 51351 - 800.841.2222.
Cycle Country Accessories Corp. and Subsidiaries
Condensed Consolidated Statements of Income
Three Months Ended June 30,
2002 2001
---------- ---------
(Unaudited) (Unaudited)
Revenues:
Net sales $ 2,256,472 $ 2,222,460
Freight income 29,919 24,420
-------------- -----------
Total revenues 2,286,391 2,246,880
-------------- -----------
Cost of goods sold (1,488,600) (1,635,450)
-------------- -----------
Gross profit 797,791 611,430
-------------- -----------
Selling, general, and administrative
expenses (600,447) (552,789)
-------------- -----------
Income from operations 197,344 58,641
-------------- -----------
Other Income (Expense):
Interest expense (64,741) -
Interest income 724 6,221
Miscellaneous 6,101 (6,274)
-------------- -----------
Total other expense (57,916) (53)
-------------- -----------
Income before provision
for income taxes 139,428 58,588
-------------- -----------
Provision for income taxes as a
C corporation (48,214) -
-------------- -----------
Net income $ 91,214 $ 58,588
============== ===========
Weighted average shares outstanding:
Basic 3,704,019 3,698,250
============== ===========
Diluted 3,704,019 4,098,250
============== ===========
Earnings per share:
Basic $ 0.03 $ 0.02
============== ===========
Diluted $ 0.03 $ 0.01
============== ===========
CONTACT: Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/772-7723
CYCY@veritascap.com
or
Cycle Country Accessories Corporation, 800/841-2222
.
Cycle Country Records Positive 3rd Quarter Numbers with Increases in Revenues, Gross Profits and Net Profits
MILFORD, Iowa--(BUSINESS WIRE)--Aug. 15, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), is pleased to announce revenues of $2,286,391 for the three-month period ending June 30, 2002. This represents a 1.8% increase compared with record revenues of $2,246,879 for the same period in 2001. Gross profit as a percentage of revenues was 34.9% for the third quarter compared to 27.2% for the same period in 2001. The increase of 7.7% in gross profit is primarily the result of lower material costs and manufacturing input cost realized in the Wheel Cover segment through greater gains in labor efficiency and better manufacturing processes.
An increase in ATV accessory and Wheel Cover sales to OEMs and sales of the recently acquired Perf-Form premium oil products offset a decrease in Snowplow Blade and Mower unit sales during the 3rd quarter. The company anticipates further revenue increases for the 4th quarter of fiscal 2002 ending September 30th.
The seasonality of one of Cycle Country's most popular products, the snowplow blade, was negatively impacted due to distributors already meeting their quotas. This past spring, distributors did not need to order more products to achieve rebate program goals or certain quotas as they did last year. This did not occur because most distributors had already achieved rebate incentive levels during the regular retail-selling season. This bodes well for the Company since distributor inventory levels are much lower going into the prime dealer ordering season, which historically leads to increased orders and sales activity over the next two quarters.
The Company foresees the selling, general and administrative expenses to remain consistent or to decrease slightly as a percent of revenues during the remainder of calendar 2002. This will be achieved from the increased production of new and existing products from the current manufacturing capacity available at their operating facilities.
Cycle Country president, Ron Hickman stated: "Other key factors contributing to increased revenues during the 3rd quarter and anticipated revenue increases for the 4th quarter include the continuing success of our new product introductions and the re-engineering of our mainstay products. Additionally, the successful completion of acquiring Perf-Form Products and their premium motorcycle and ATV oil filters should begin to have a more positive impact to earnings going forward." Mr. Hickman further commented: "We will continue to address the seasonality of any products by a focus on untapped geographical locations, expansion into the Lawn & Garden market and increased sales and marketing efforts. Our long established tradition of success continues as Cycle Country will record its 21st year of sustained profitability with our fiscal year ending next month on September 30, 2002."
About Cycle Country Accessories Corp.
Cycle Country, http://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 mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Cycle Country also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. Through Cycle Country's most recent acquisition of Weekend Warrior and their superior farm equipment attachments for Trailers and ATVs, Cycle Country has begun marketing heavy-duty farm equipment for the Lawn & Garden market.
For the complete 10-QSB filing, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Scott Gibson at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407/772-7723 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222.
CONTACT:
Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/772-7723
CYCY@veritascap.com
or
Cycle Country Accessories Corporation, 800/841-2222
.
Cycle Country Takes The Lead In Complying With The SEC's New Order Requiring Sworn Written Statements By Corporate Officers
MILFORD, Iowa--(BUSINESS WIRE)--July 9, 2002--Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company is taking the initiative with regard to the historical new order decree by The Securities and Exchange Commission (SEC).
On June 28, 2002 the SEC published a list of 945 companies whose chief executive and chief financial officers are now required to personally certify in writing and under oath that their most recent reports filed with the Commission are both complete and accurate. The order is intended to assure the investing public and the SEC that corporate disclosure in reports previously filed this year, is in compliance with all federal securities laws.
The SEC's order applies to companies with reported annual revenues in excess of $1.2 billion. The order requires the principal executive and financial officers of SEC registered companies to file a sworn written statement to personally attest that the company's most recent periodic reports are materially truthful and complete or explain why such a statement would be incorrect. Officers who make false certifications will face personal liability.
In the June 28th announcement from Washington D.C., SEC Chairman Harvey L. Pitt said: "This is an unprecedented step to help restore investor confidence. We are demanding that CEOs and CFOs swear that the numbers they've reported in their financial reports are correct and that they have left nothing out."
In response to the SEC announcement, Cycle Country president Ron Hickman stated: "Even though we are not required to file these sworn written statements as noted by the SEC's order, we strongly welcome an environment of truth and accountability. Prior to joining Cycle Country in 1996, my accounting firm provided the fairness opinions and signed-off on the Company's books for 15 years. As the former CFO of Cycle Country and current President, I will continue to sign-off on all financial filings along with our current CFO, Dave Davis. Further, both Mr. Davis and myself will adhere to the new certification order decree by the SEC even though it does not apply to us. As a public company, we believe that investor and shareholder confidence is essential to our existence and we will go to any lengths to insure the public's continued trust."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
With the Company's recent acquisitions, Cycle Country also sells premium oil filters for ATVs and motorcycles through the brand name Perf-form Products and ATV and tractor farming equipment attachments nationwide through the brand name Weekend Warrior.
For further information forward your e-mail request to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407.774-3028 from 9am until 5pm (EDT). Cycle Country Headquarters: 2188 Highway 86 - Milford, Iowa 51351 - 800-841-2222.
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.
CONTACT: Veritas Capital Group, Altamonte Springs, Fla.
Scott Gibson, 407/774-3028
CYCY@veritascap.com
Park your Sub at the iHub - Bub; ....the experience might just "...float your boat..." !!
Cycle Country Finalizes Acquisition of Weekend Warrior Inc. To Conclude Second Acquisition In 75 Days
MILFORD, Iowa, Jun 13, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the utility all-terrain vehicle (ATV), announced today that the Company has finalized the purchase agreement terms to acquire Weekend Warrior, Inc. The acquisition of this profitable company with a well-established brand name will expedite Cycle Country's entrance into the Lawn & Garden market. The Company anticipates reflecting the acquisition value in the next 10-QSB filing for Cycle Country's third quarter ending June 30, 2002.
Since 1992, Weekend Warrior, Inc., headquartered in Lubbock, Texas, has designed and manufactured a full line of heavy-duty agricultural equipment for Utility ATV's and Garden Tractors. The Company's highly acclaimed farming products require no three point hitches for easy hook-up to all ATV and tractor makes. These premium quality products with the recognizable Weekend Warrior brand name will accelerate Cycle Country's new product introductions for the Lawn & Garden industry. Weekend Warrior's products will also allow the attachment of many of Cycle Country's existing products to Lawn & Garden vehicles.
Ronald Hickman, President of Cycle Country, commented: "Everyone at Cycle Country is determined to deliver double-digit annual earnings growth. We will continue to seek acquisitions of profitable companies with compatible products offering strong brand name recognition. This timely acquisition will strengthen Cycle Country's entrance into the lucrative Lawn & Garden market. Weekend Warrior has a superb reputation for quality farming equipment and we are delighted to have them among Cycle Country's expanding family of products. We intend to fully capitalize on our greater distribution channels to significantly enhance this already profitable acquisition."
The Founder of Weekend Warrior, Inc., Donald Pigg, stated: "This is truly an historic event for Weekend Warrior. We have produced some of the finest farming equipment in the United States for over 10 years. With Cycle Country's immense distribution network throughout North America and 40 countries, we have reached the ultimate position of being able to distribute our products worldwide. We all look forward to a very successful relationship with Cycle Country and the chance to help make a far greater number of farmers more efficient."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the utility all-terrain vehicle. Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Yamaha, Polaris, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's products are distributed by 16 distributors, which sell their products to virtually all ATV and motorcycle dealers in North America.
The Company has also developed arraignments with 19 international distributors that have sold Cycle Country products in 40 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 OEMs worldwide. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407/774-3028 from 9am until 5pm (EST). Cycle Country Accessories headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222
Cycle Country Becomes Aware of FBI's Pursuit of Illegal Stock Seller in CYCY Stock
MILFORD, Iowa, Jun 11, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announced today that the Company has become aware that there are 360,000 shares of CYCY stock, which have been sold without the rightful owners approval. The rightful owner, an investor, is seeking all legal relief, including, but not limited to restitution via return of the fraudulently liquidated stock through open market purchases.
The investor has worked closely with the Federal Bureau of Investigation (F.B.I.). They continue to give the F.B.I. information on such illegal financial tactics as contacting CYCY shareholders and misrepresenting themselves to induce the selling of CYCY stock. Multiple firms, brokers and individuals have been contacted, whereby they were told that there are large blocks of CYCY shares for sale at a discount to the market. As a stipulation for discount block consideration, they were told to "short" the stock until delivery could be made as per their illegal arraignment.
The name of the person representing the loan is David Weinrib, who has already pleaded guilty to a previous loan scheme in 1999. Weinrib admitted and plead guilty in federal court that he falsely portrayed himself to a California company as a private client services broker by making fraudulent guarantees. The brokerage of record, Donald & Company had to repurchase 389,400 shares in the open market. Since the stock price had risen, Donald & Co. took a loss of between $800,000 and $1.5 million according to court documents.
In that scheme, David Weinrib, who remains free on a $20,000 bond, is presently awaiting sentencing before the United States District Court in Trenton, New Jersey. Weinrib repaid the money, but still faces up to five years in federal prison and a $250,000 fine when sentenced July 16, 2002 on a single count of mail fraud.
In the Company's case, as collateral for a loan, David Weinrib received certificates for 360,000 shares of Cycle Country's stock from the investor to be held in safekeeping. Almost immediately, the stock began to be liquidated into the market without the approval or awareness of the investor. The stock was sold within two weeks of the loan funding date of March 28, 2002. A letter was sent by the investor's attorney requesting that Weinrib cease and desist the selling of any further shares of CYCY stock, albeit after the stock had already been sold.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market. The ATV accessories are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide. Cycle Country also sells premium oil filters for motorcycles and ATVs in the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407.774.3028 from 9am until 5pm (EDT). Cycle Country Headquarters: 2188 Highway 86 -- Milford, Iowa 51351 -- 800-841-2222.
Cycle Country's Sponsorship Of Indy Racer Jeff Ward Pays Dividends With Ward's Sensational Victory At Boomtown 500 IRL Race
MILFORD, Iowa, Jun 10, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), is extremely pleased to announce an historical racing victory for Jeff Ward in the Boomtown 500 race at the Texas Motor Speedway in Ft. Worth on Saturday. Jeff Ward passed Al Unser Jr. at the finish line in the closest finish in Indy Racing League (IRL) history. This exciting victory for race fans everywhere, comes less than four months after Cycle Country became an official corporate sponsor for Mr. Ward. The Cycle Country name and logo receive wide exposure at every IRL race featuring Jeff Ward and were prominently displayed on national television during the congratulatory celebration in the Boomtown 500 winner's circle.
Jeff Ward, a 40-year-old Californian and 7-Time AMA National Motocross Champion, led only one lap, which was the 200th and final circuit around the 1.5-mile oval. No driver in IRL history had ever won a race by leading just the last lap. Driving the No. 9 Chip Ganassi TARGET Racing G Force/Chevrolet/Firestone, Ward said: "That was great. We hung in. With two laps to go, they told me P2 (2nd place), and I couldn't believe it." Ward made his move for the front in Turn 3, driving on the outside of the 24-degree banking to edge even with Unser exiting Turn 4 with the checkered flag flying in sight. Ward commented: "I don't know how I did that around the outside, I hadn't done it all night." The pair drag-raced down the front straightaway with a crowd of more than 80,000 on their feet. Ward beat Unser at the line by about a foot.
Al Unser, Jr. stated: "Wardy had the draft around me and he came around me. I could have tried some bad stuff on the back straightaway, but it ain't worth it. We just came up short. Congrats to the Target team and Jeff Ward. He earned it, for sure."
About Jeff Ward
Turning professional in Motocross in 1977, Jeff Ward retired in 1992 after posting 20 career Supercross wins and 54 career national Motocross victories. Named AMA "Sportsman of the Year" in 1992 and "Athlete of the Year" in 1990, Mr. Ward won the AMA National 500cc Motocross Championship in 1989 to become the first rider to win every major AMA National title. Jeff Ward enjoyed one of the most prolific racing careers in Motocross history. Immediately after retiring from Motocross, Mr. Ward began his Indy Racing League career and quickly surpassed $3 million in IRL career earnings by 2000. Awarded the 1997 Indianapolis 500 Bank One "Rookie of the Year" and place second at the 1999 Indianapolis 500. Racing fans everywhere can get the latest update on Jeff Ward by visiting his official web site at http://www.jeffward.com.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market. The ATV accessories are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide. Cycle Country also sells premium oil filters for motorcycles and ATVs in the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, at Veritas Capital Group via CYCY@veritascap.com or call 407.774.3028 from 9am until 5pm (EST). Cycle Country Headquarters: 2188 Highway 86 -- Milford, Iowa 51351 -- 800-841-2222.
Corporate Profile for Cycle Country Accessories Corp., dated May 31, 2002
May 31, 2002 (BUSINESS WIRE) -- The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services.
Published Date: May 31, 2002 Company Name: Cycle Country Accessories Corp.
Address: 2188 Hwy. 86 Milford, Iowa, 51351
Main Telephone Number: 800/841-2222
Internet Home Page Address (URL) http://www.cyclecountry.com
Chief Executive Officer: Ronald Hickman
Chief Financial Officer: David Davis
Investor Relations Contact: Scott Gibson
Business number: 407/772-7723
E-mail address: cycy@veritascap.com
Public Relations Contact: Scott Gibson
Business number: 407/772-7723
E-mail address: cycy@veritascap.com
Industry: Misc. Capital Goods Trading Symbol/ Exchange: CYCY/OTCBB
Market Makers:
ALEX/ALPS/ALWC/BLOW/FLTT/FRAN/GVRC/HILL/IFSC/ISRC
LTCO/MHMY/MLNJ/NITE/PGON/PRGM/PUGS/SCHB/STRE/VFIN
WIEN/WSEI
Company Description: Cycle Country Accessories Corp., http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of high quality, custom fitting accessories for the utility all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Yamaha, Polaris, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's products are distributed by 16 distributors who sell their products to virtually all ATV and motorcycle dealers in North America.
The Company has also developed arrangements with 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
CONTACT: Cycle Country Accessories Corp
Cycle Country Signs Purchase Agreement With Weekend Warrior Inc. to Shortly Conclude Their Second Acquisition Since March 2002
MILFORD, Iowa, May 28, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announced today that the Company has entered into a definitive purchase agreement to acquire Weekend Warrior, Inc. The purchase is subject to certain closing conditions, including inventory evaluation of Weekend Warrior. The Company anticipates the acquisition to be completed before the end of Cycle Country's third quarter on June 30, 2002.
Since 1992, Weekend Warrior, Inc., headquartered in Lubbock, Texas, has designed and manufactured a full line of heavy-duty agricultural equipment for Utility ATV's and Garden Tractors. The Company's established farming plow models require no three point hitches for easy hook-up to all ATV and Tractor makes. These renowned quality products with the well-recognized Weekend Warrior brand name, will further Cycle Country's new product development in the Lawn & Garden industry. Additionally, Weekend Warrior's products will allow the attachment of many of Cycle Country's existing products to Lawn & Garden vehicles.
In making this announcement, Ronald Hickman, President of Cycle Country, stated: "The management team at Cycle Country is committed to building greater shareholder value through product and market expansion. As such, we will continue to seek established profitable companies with compatible product lines providing new markets and new product sector opportunities. This timely acquisition will strengthen Cycle Country's entrance into the lucrative Lawn & Garden market. Weekend Warrior's long-standing reputation for quality and strong brand recognition reflects two of our key consideration parameters. We believe we can fully capitalize on our strong distribution channels to enhance this already profitable division and further both companies new product growth and market share."
Weekend Warrior, Inc. founder Donald Pigg, said: "All of us at Weekend Warrior are very excited about the chance to join Cycle Country. We have worked diligently over the last 10 years to make premium products and to establish Weekend Warrior as a respected name in the industry. With Cycle Country's immense distribution network, it is extremely gratifying to have the opportunity to see our products available to consumers worldwide."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the utility all-terrain vehicle. Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Yamaha, Polaris, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's products are distributed by 16 distributors who sell their products to virtually all ATV and motorcycle dealers in North America.
The Company has also developed arrangements with 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via CYCY@veritascap.com or call 407.772.7723 from 9am until 5pm (EST). Cycle Country Accessories headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222
CONTACT: Veritas Capital Group, Heathrow, Fla. Scott Gibson, 407/772-7723 CYCY@veritascap.com
Cycle Country Generates Over $7 Million in Revenues for the First Six Months of Fiscal 2002
MILFORD, Ia., May 16, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitted accessories for the all-terrain vehicle (ATV), announces revenues of $7,034,823 for the six-month period ending March 31, 2002. This represents a 5.8% decrease compared with record revenues of $7,447,973 for the same period in 2001. Gross profit for the first and second quarter totaled $1,992,772 verses $2,152,095 for the comparable period in 2001. The Company reported net income from operations of $584,004 compared to $882,465 for the corresponding period last year.
The seasonality of one of Cycle Country's most popular products, the snowplow blade, was significantly impacted due to one of the mildest winters on record. Additionally, during the second quarter of last year the Company had unusually high sales of blade products as their distributors ordered late in the quarter to achieve rebate program goals. This did not occur in the second quarter of this year since most distributors had already achieved rebate program incentive levels. This bodes well for the Company's next two quarters since less product needs to be sold at retail before dealer ordering begins in earnest during the summer and fall.
The Company foresees the selling, general and administrative expenses to remain consistent or to decrease slightly as a percent of revenues during the remainder of fiscal 2002 ending September 30, 2002. This will be achieved from the increased production of new and existing products from the current manufacturing capacity available at their operating facilities in Iowa.
The president of Cycle Country, Ron Hickman stated: "Even though the company experienced decreased sales from the seasonal plow business, sales from new product introductions nearly bridged the gap." Mr. Hickman continued: "Going forward, we anticipate our revenues to increase during the third and fourth quarters, because product inventories within our distribution network are relatively low, which historically leads to increased orders and sales activity. Other key factors contributing to our projection of increased revenues for the remainder of fiscal 2002 include the early success of our new product introductions and the re-engineering of our mainstay products. Additionally, the successful completion of acquiring Perf-Form Products and their premium motorcycle and ATV oil filters should begin to have a positive impact to earnings from our substantially greater distribution channels throughout North America."
On a final note, Mr. Hickman added: "We will continue to address the seasonality of any of our products by continuing our new product expansion efforts while developing several exciting new markets including the lucrative Lawn & Garden category. Cycle Country will record its twenty first year of sustained profitability and our projection for double-digit earnings growth again for 2002 is very much anticipated."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, 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 mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Through a recent acquisition, Cycle Country also sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407/772-7719 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222.
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."
CONTACT: Veritas Capital Group, Heathrow, Fla. Scott Gibson, 407/772-7719 CYCY@veritascap.com URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.
Cycle Country Receives Outstanding Business Performance Award Along With American Honda, Harley-Davidson, and Polaris Industries
MILFORD, Ia., May 9, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in developing and manufacturing custom-fitting accessories for the utility all-terrain vehicle (ATV), is pleased to announce that Mr. Ron Hickman, president of Cycle Country, has been selected as one of the "Top Five Powersports Industry Leaders for 2001." Ehlert's Powersports Business Magazine bestows this prestigious award annually. The five notable corporate leaders were selected for their outstanding business performance and industry leadership during 2001.
The recipients for this honor include Jeff Bleustein, chairman and CEO of Harley-Davidson Motorcycle Company (HDI), Ray Black, vice president for American Honda Motor Company (HMC), Roger Marshall, founder and CEO of Marshall Distributing, Inc., Tom Tiller, president and CEO of Polaris Industries, Inc. (PII) and Ron Hickman, president of Cycle Country Accessories Corporation (CYCY).
Mr. Hickman joined Cycle Country as general manager in 1996 while accepting all corporate financial responsibilities as well. Concurrently, he sold his CPA firm, which had handled the Company's books for over 15 years. This career move was the first step in assuming the leadership at Cycle Country from founders, Jim and Jan Danbom. Ron Hickman officially became president of the Company on August 1, 2001.
Acknowledging this coveted industry leadership award, Ron Hickman stated: "It is certainly humbling to be included with this select group of top corporate leaders. My congratulations go out to Ray Blank, vice president of American Honda for receiving the highest honor of `2001 Executive of the Year.' The other award recipients are truly icons of industry representing corporate achievement at the highest level. I sincerely believe that Cycle Country's emerging global recognition will continue to propel us to the next level of corporate success and beyond."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, 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 mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market. Cycle Country's ATV accessories are distributed throughout the U.S. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that have sold Cycle Country products in 40 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 (OEM's) worldwide. Through a recent acquisition, Cycle Country also sells premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407/772-7719 from 9am until 5pm (EST). Cycle Country Accessories Corporation Headquarters: 2188 Highway 86, Milford, Iowa 51351, 800/841-2222.
CONTACT: Veritas Capital Group, Heathrow, Fla. Scott Gibson, 407/772-7719 CYCY@veritascap.com
Record All-Terrain Vehicle - ATV - Sales In U.S. Deliver Double-Digit Growth Again
Cycle Country States Strong ATV Sales Trend Has Continued Over Nine Of The Last Ten Years
MILFORD, Iowa, Apr 30, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB: CYCY), the recognized leader in the development and manufacturing of custom-fitting accessories for the utility all-terrain vehicle (ATV), announced today that ATV industry figures for U.S. ATV unit sales during 2001 showed an 12.4% increase with total ATV sales exceeding 700,000 units as noted by ATV Magazine. This growth followed a 19.2% increase in 2000, the year in which total ATV sales surpassed total motorcycle sales for the first time.
In an issue of the highly regarded industry publication for motorcycle & ATV dealers, Dealernews Magazine, a feature article noted: "ATV's may represent the largest untapped, money-making opportunity for dealerships. First, 50% of the average dealership's sales come from ATV's. Second, ATV's have more room for accessories than motorcycles. Third, most ATV's are used for multiple activities which require multiple accessories." Additionally, ATV's are a year-round product unlike the seasonality of snowmobiles, personal watercraft and motorcycles.
Cycle Country President, Ronald Hickman stated: "Historically, ATV sales have continued growing through economic cycles in large part because of the work-related applications inherent to Utility ATVs. Undoubtedly, this has helped sustain our industry growth during slower economic periods as is evidenced by Cycle Country's 15% earnings growth for fiscal 2001 and 22.4% revenue growth during the first quarter of 2002. We continue to expect our annual earnings to grow at a double-digit rate."
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, 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 mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide. With the recently announced acquisition, Cycle Country also sells premium high performance oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com.
Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407.772.7719 from 9a.m.until 5p.m. (EST). Cycle Country Accessories Corporation
Headquarters: 2188 Highway 86 - Milford, Iowa 51351 - (800) 841-2222.
Cycle Country Accessories Secures Double-Digit Earnings Growth By Acquiring Perf-form Products, Inc.
MILFORD, Iowa, Mar 27, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp.
(OTCBB: CYCY), the recognized leader in the development and manufacturing of high
quality accessories for the all-terrain vehicle (ATV), announced today that the
Company has finalized the purchase agreement terms to acquire Perf-form
Products, Inc. Perf-form's motorcycle and ATV oil filter products generated
revenues of approximately $538,000 for calendar year 2001. It is expected that
the positive effect on earnings for Cycle Country will be approximately $ .03
cents per fully diluted share. Cycle Country anticipates reflecting the
acquisition value in the next 10-QSB filing for the Company's second quarter
ending March 31, 2002.
Ronald Hickman, President of Cycle Country, stated: "Cycle Country's
relationship with essentially all motorcycle dealers in North America will
provide considerably greater exposure for Perf-form's premium products. Further,
our Company's growing distribution in 35 foreign countries will provide an
additional platform for significant growth. With Perf-form's long-standing
reputation for quality products, we fully expect to capitalize on our strong
distribution network to maximize earnings from this historically profitable
company."
Doug Koelfgen, Founder of Perf-form Products said: "Everyone agrees with the
significant opportunity offered by joining the Cycle Country family of products.
We have worked hard over the last 20 years to make high quality replacement oil
filters for motorcycle and ATV dealers throughout much of the country. By
utilizing Cycle Country's vast distribution channels, we are extremely excited
about making our high-end products available to consumers worldwide."
About Perf-form Products
Perf-form Products, Inc., http://www.perf-form.com, headquartered in Big Lake,
Minnesota, has been in the business of designing and manufacturing premium
quality motorcycle and ATV oil filters since 1981. The Company's largest product
line is a chrome replacement filter for Harley-Davidson Motorcycles. The Company
also manufactures oil filters for other popular makes including Honda, Kawasaki,
Suzuki, Yamaha and several other major brands. Perf-form Products' existence has
been predicated on producing the best motorcycle and ATV oil filters in the
world. By using premium quality materials, the Company's oil filter products
prolong engine life and performance for the most discriminating motorcycle and
ATV enthusiast. The high performance Perf-form product features cannot be found
in any other motorcycle/ATV oil filters on the market.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide
market, is the industry leader in the design, engineering and manufacturing of
custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle
Country has developed an extensive line of branded products of mowers, plows,
spreaders, sprayers, hitches and many other utility equipment items along with
accessories for the recreational user. The Company's accessories custom fit
virtually every brand of ATV on the market including all models from Honda,
Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's
ATV accessory products are distributed throughout the U.S.A. and Canada by a
group of 16 distributors who sell their products to essentially all ATV and
motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international
distributors that sell Cycle Country products in Asia, Europe, Central and South
America. Current distribution agreements are in effect in 35 countries.
Additionally, Cycle Country dominates the golf car wheel cover market by
manufacturing approximately 90% of all wheel covers sold to original equipment
manufacturers (OEM's) worldwide.
For further information, visit Cycle Country's website at
http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any
financial questions to Scott Gibson, Managing Principal at Veritas Capital Group
via e-mail to CYCY@veritascap.com or phone 407.562.1900 from 9 a.m.until 5p.m.
(EST). Cycle Country Accessories Corp.'s headquarters is located at 2188 Highway
86 - Milford, Iowa 51351 - 800-841-2222.
CONTACT: Financial: Veritas Capital Group, Heathrow, Fla.
Scott Gibson 407/562-1900 9 a.m. - 5 p.m. (EST)
e-mail: CYCY@veritascap.com
or
Cycle Country Accessories Corporation
800/841-2222
e-mail: IR@cyclecountry.com
http://www.cyclecountry.com
Cycle Country Accessories Corp. Signs Purchase Agreement To Acquire Perf-form Products, Inc.
MILFORD, Iowa, Feb 20, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announced today that the Company has entered into a definitive purchase agreement to acquire Perf-form Products, Inc. The purchase is subject to certain closing conditions, including inventory evaluation of Perf-form. The Company anticipates the purchase to be completed before the end of Cycle Country's second quarter on March 31, 2002.
Perf-form Products, Inc. had revenues of approximately $538,000 for 2001 with profitable operating results. It is expected that the positive effect on earnings for Cycle Country will be approximately $.02 to $.03 cents per share fully diluted. Perf-form's products are complimentary to those of Cycle Country and are available in many motorcycle and ATV shops and dealers across the country. Both Cycle Country and Perf-form's products are sold through most of the same distributors.
In light of this announcement, Ronald Hickman, President of Cycle Country, stated: "We are very enthusiastic about the synergies between our two companies. The long-standing reputation and quality of Perf-form's motorcycle and ATV oil filter products make this acquisition a natural fit. We have received resounding positive feedback from our distributors and have identified numerous compatibilities for further growth together. Additionally, we fully expect to capitalize on Cycle Country's strong distribution network to maximize earnings from Perf-form's historically profitable company."
Perf-form Products founder Doug Koelfgen said: "Everyone agrees with the significant opportunity offered by joining the Cycle Country family of products. We have worked hard over the last 15 years to make high quality replacement oil filters for motorcycle and ATV dealers throughout much of the country. By utilizing Cycle Country's vast distribution channels, we are extremely excited about making our products available to consumers worldwide."
About Perf-form Products
Perf-form Products, Inc., http://www.perf-form.com, headquartered in Big Lake, Minnesota, has been in the business of designing and manufacturing premium quality motorcycle and ATV oil filters since 1981. The Company's largest product line is a chrome replacement filter for Harley-Davidson Motorcycles along with manufacturing oil filters for other popular makes including Honda, Kawasaki, Suzuki, Yamaha and additional major brands of cycles now available. Perf-form Products' existence has been predicated on producing the best motorcycle and ATV oil filters in the world. By using premium quality materials including prime Tin-Plated steel end cups, special high temperature plastisol and Microglass / Synthetic enhanced saturated filter media, Perf-form oil filter products prolong engine life and performance for the most discriminating motorcycle and ATV enthusiast. The high performance Perf-form product features cannot be found in any other motorcycle/ATV oil filters on the market. About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail toIR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via CYCY@veritascap.com or call 407/562-1900 from 9A.M. until 5P.M. (EST). Cycle Country Corporate Headquarters: 2188 Highway 86, Milford, Iowa 51351, 1-800/841-2222
CONTACT: Veritas Capital Group, Heathrow, Fla. Financial contact: Scott Gibson, 407/562-1900 email: CYCY@veritascap.c
.
Cycle Country Accessories Secures Double-Digit Earnings Growth By Acquiring Perf-form Products, Inc.
MILFORD, Iowa, Mar 27, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announced today that the Company has finalized the purchase agreement terms to acquire Perf-form Products, Inc. Perf-form's motorcycle and ATV oil filter products generated revenues of approximately $538,000 for calendar year 2001. It is expected that the positive effect on earnings for Cycle Country will be approximately $ .03 cents per fully diluted share. Cycle Country anticipates reflecting the acquisition value in the next 10-QSB filing for the Company's second quarter ending March 31, 2002.
Ronald Hickman, President of Cycle Country, stated: "Cycle Country's relationship with essentially all motorcycle dealers in North America will provide considerably greater exposure for Perf-form's premium products. Further, our Company's growing distribution in 35 foreign countries will provide an additional platform for significant growth. With Perf-form's long-standing reputation for quality products, we fully expect to capitalize on our strong distribution network to maximize earnings from this historically profitable company."
Doug Koelfgen, Founder of Perf-form Products said: "Everyone agrees with the significant opportunity offered by joining the Cycle Country family of products. We have worked hard over the last 20 years to make high quality replacement oil filters for motorcycle and ATV dealers throughout much of the country. By utilizing Cycle Country's vast distribution channels, we are extremely excited about making our high-end products available to consumers worldwide."
About Perf-form Products
Perf-form Products, Inc., http://www.perf-form.com, headquartered in Big Lake, Minnesota, has been in the business of designing and manufacturing premium quality motorcycle and ATV oil filters since 1981. The Company's largest product line is a chrome replacement filter for Harley-Davidson Motorcycles. The Company also manufactures oil filters for other popular makes including Honda, Kawasaki, Suzuki, Yamaha and several other major brands. Perf-form Products' existence has been predicated on producing the best motorcycle and ATV oil filters in the world. By using premium quality materials, the Company's oil filter products prolong engine life and performance for the most discriminating motorcycle and ATV enthusiast. The high performance Perf-form product features cannot be found in any other motorcycle/ATV oil filters on the market.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via e-mail to CYCY@veritascap.com or phone 407.562.1900 from 9 a.m.until 5p.m. (EST). Cycle Country Accessories Corp.'s headquarters is located at 2188 Highway 86 - Milford, Iowa 51351 - 800-841-2222.
CONTACT: Financial: Veritas Capital Group, Heathrow, Fla. Scott Gibson 407/562-1900 9 a.m. - 5 p.m. (EST) e-mail: CYCY@veritascap.com or Cycle Country Accessories Corporation 800/841-2222 e-mail: IR@cyclecountry.com http://www.cyclecountry.com
.
Cycle Country Announces Record Revenues With Sales Up 22.4% During the 1st Quarter Of 2002
MILFORD, Iowa, Feb 19, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), announces record revenues of $5,064,472 for the first quarter ending December 31, 2001. This represents a 22.4% increase compared with record revenues of $4,136,145 for the first quarter of the previous year. Gross profit for the first quarter ending 12/31/01 totaled $1,538,451 verses $1,269,605 for the comparable quarter in 2000. The Company reported net income from operations of $593,777 compared to $493,828 for the same quarter last year. Net income before taxes totaled $533,885 as compared to $533,346 for the corresponding period ending December 31, 2000.
Cycle Country President, Ron Hickman stated: "Significant to note is that all profit and net income numbers increased, although the Company incurred the substantial one time expenses of going public and other extraordinary items from increased new product development and a greater ramp-up of the sales and marketing force." Mr. Hickman continued; "Going forward, we are committed to strong growth and will continue to expand marketing efforts for our established ATV accessory products along with some brand new products while developing several exciting new markets."
About Cycle Country Accessories Corp.: Cycle Country (http://www.cyclecountry.com), with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, three-point hitches, winch kits and many other utility equipment items along with an expanding line of accessories for recreational use. The Company's accessories custom fit virtually all brands of ATV's on the market today including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell Cycle Country products to essentially every ATV and motorcycle dealer in North America.
Additionally, Cycle Country dominates the manufacturing of wheel covers for original equipment manufacturers (OEM's) with approximately 90% of the worldwide market and 80% of after-market wheel cover sales, respectively. The Company has strategic arrangements with 19 international distributors providing product sales in Asia, Europe, Central and South America. Current international distribution agreements are in effect in 35 countries. Cycle Country also subcontracts the manufacturing of many original equipment product and product components for local, regional and national vendors.
Complete financials from the Cycle Country 10-Q filing is posted on http://www.sec.gov or on the Company's website at http://www.cyclecountry.com under the heading "Investor Relations." For further information, e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via e-mail to CYCY@veritascap.com or call 407.562.1900 from 9 am to 5 pm (EST). Cycle Country Corporate Headquarters - 2188 Hwy. 86 - Milford, IA 51351 - 800-841-2222
CONTACT: Veritas Capital Group, Heathrow, Fla. Financial contact: Scott Gibson, 407/562-1900 email: CYCY@veritascap.com
.
Cycle Country Sponsors Motocross Legend And Indy Racer Jeff Ward And Signs Him To A Multi-Year Contract As Company Spokesperson
MILFORD, Iowa, Feb 14, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY), the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), is pleased to announce the signing of a multi-year agreement with Jeff Ward, known worldwide for his legendary achievements in Motocross and fast tracking a name for himself in the world of Indy racing. Cycle Country has now become an official race sponsor for Jeff Ward with full exposure of the Cycle Country corporate name and logos during all Indy Racing League (IRL) events featuring Jeff Ward. Additionally, Mr. Ward will actively represent Cycle Country as their national spokesperson both on and off the IRL tour. This weekend Saturday February 16th, Jeff Ward will be representing the Company at the largest annual National ATV Industry Convention in Indianapolis, Indiana.
Speaking about the long-term agreement with Cycle Country, Jeff Ward said: "I have been a big fan of Cycle Country's accessory products for some time. And with personally knowing a number of individuals connected to the Company, it is indeed a pleasure to do business with a great company and valued friends." Cycle Country President Ron Hickman commented: "Jeff Ward is one of the most recognizable and respected Indy race car drivers in the world. However, when you also note that he was one of the most successful riders in Motocross history coupled with the fact that we deal with literally every motorcycle dealer in North America, it is truly an honor for Cycle Country to be associated with this racing legend."
About Jeff Ward
Turning professional in Motocross in 1977, Jeff Ward retired in 1992 after posting 20 career Supercross wins and 54 career national Motocross victories. Named AMA "Sportsman of the Year" in 1992 and "Athlete of the Year" in 1990, Mr. Ward won the AMA National 500cc Motocross Championship in 1989 to become the first rider to win every major AMA National title. Jeff Ward enjoyed one of the most prolific racing careers in Motocross history. Immediately after retiring from Motocross, Mr. Ward began his Indy Racing League career and quickly surpassed $3 million in IRL career earnings by 2000. Racing fans everywhere can get the latest update on Jeff Ward by visiting his official web site at http://www.jeffward.com.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, hitches and many other utility equipment items along with accessories for the recreational user. The Company's accessories custom fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat and Bombardier. Cycle Country's ATV accessory products are distributed throughout the U.S.A. and Canada by a group of 16 distributors who sell their products to essentially all ATV and motorcycle dealers in North America.
The Company has also developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current distribution agreements are in effect in 35 countries. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers (OEM's) worldwide.
For further information, visit Cycle Country's website at http://www.cyclecountry.com or e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via CYCY@veritascap.com or call 407.562.1900 from 9A.M. until 5P.M. (EST). Cycle Country Corporate Headquarters: 2188 Highway 86 - Milford, Iowa 51351 - 1-800-841-2222
CONTACT: Veritas Capital Group, Heathrow, Fla. Scott Gibson, 407/562-1900 CYCY@veritascap.com
.
Cycle Country Accessories Corp. Goes Public Today As An Industry Leader With 20 Years Of Profitability
MILFORD, Iowa, Feb 4, 2002 (BUSINESS WIRE) -- Cycle Country Accessories Corp. (OTCBB:CYCY): After 20 years of sustained profitability and as the recognized leader in the development and manufacturing of high quality accessories for the all-terrain vehicle (ATV), the Company is pleased to announce the initial public trading of Cycle Country common stock today. The shares will initially trade on the NASD OTC Bulletin Board under the stock symbol "CYCY". The Company has a total of 3,625,000 shares outstanding.
About Cycle Country Accessories Corp.
Cycle Country, http://www.cyclecountry.com, with over 50% of the worldwide market, is the industry leader in the design, engineering and manufacturing of custom-fitting accessories for the all-terrain vehicle (ATV). Since 1981, Cycle Country has developed an extensive line of branded products of mowers, plows, spreaders, sprayers, three-point hitches, winch kits and many other utility equipment items along with an expanding line of accessories for the recreational user. The Company's accessories custom-fit virtually every brand of ATV on the market including all models from Honda, Polaris, Yamaha, Kawasaki, Suzuki, Arctic Cat, Bombardier and many other less major brands. Cycle Country's ATV accessory products are distributed throughout the United States and Canada by a group of 16 distributors who sell Cycle Country products to essentially all ATV and motorcycle dealers in North America.
Since first establishing global expansion in 1996, Cycle Country has developed strategic arrangements with 19 international distributors that sell Cycle Country products in Asia, Europe, Central and South America. Current international distribution agreements are in effect in 35 countries.
Additionally, Cycle Country dominates the golf car wheel cover market worldwide. The Company provides approximately 90% of all wheel covers sold to golf car manufacturers. Sales to the golf car OEMs are made directly by the Company's sales force. Cycle Country also sells their wheel covers to golf courses and golf car dealers through a network of golf equipment distributors. This allows the Company to achieve approximately 80% of the after-market wheel cover sales market. Cycle Country also subcontracts the manufacturing of many original equipment product and product components for local and national vendors.
Complete financials are available from the Company's SB-2/A filing listed on http://www.sec.gov or the Company's web site http://www.cyclecountry.com under the heading "Investor Relations." For further information, e-mail to IR@cyclecountry.com. Please direct any financial questions to Scott Gibson, Managing Principal at Veritas Capital Group via e-mail to CYCY@veritascap.com or call 407.562.1900 from 9am until 5pm (EST).
Cycle Country Accessories Corp. - 2188 Highway 86 - Milford, Iowa 51351 - 800-841-2222
If you want to see a slick HTML trick - click on "Products" on their webpage......
http://www.cyclecountry.com/
John
"..Have you hugged your Grandkiddies today.."??
.
"......It's alive, .........IT'S .......A-L-I-V-E........."!!!!
http://www.otcbb.com/dailylist/history/bbdl_02012002.stm
Tee hee.
John
"..Have you hugged your Grandkiddies today.."??
.
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