Electric Scooter Sales from ZAP Rise 87 Percent for DecemberSEBASTOPOL, Calif.--Jan. 10, 2001--Electric scooter maker ZAPWORLD.COM today reported December sales were up 87 percent.
According to ZAPWORLD (ZAP) CEO Gary Starr, sales for December 2000, not counting its subsidiaries, were $1,256,341, up $585,108 or 87 percent from December 1999 sales of $671,233. Starr attributes the increase to unprecedented holiday demand for ZAP's electric scooters, bicycles and other personal electric transportation and recreational vehicles. Last month, ZAP reported that sales for the month of November were up 152 percent to $1.65 million from $654,000 a year earlier.
"We are proud to report an 87 percent sales increase in December, considering the sales falloff reported by many sporting good retailers over the holidays," said Starr. "This underscores the growth opportunity in electric transportation and we hope this is an indication of the kind of changes that are happening worldwide caused by energy, population and environmental concerns. ZAP is the kind of company that can grow with the new world economy."
ZAP also reported that revenues for 2000 have surpassed earlier projections. Sales through the third quarter ended Sept. 30, 2000 were $8.1 million, surpassing sales of $6.4 million for all of 1999. With record November and December sales, ZAP CEO Gary Starr now projects sales to surpass $11.5 million for 2000, almost double over last year.
ZAPWORLD.COM designs, assembles, manufactures and distributes electric bicycles, electric land and sea scooters, electric motorcycles and other personal electric transportation vehicles. ZAP is publicly owned with stock trading under the symbol ZAPP on the Nasdaq Small Cap market. For further information, visit ZAP's website at http://www.zapworld.com, or call 800/251-4555.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.