Titan Motorcycle Reports Record 3Q Results
4 November 1998Titan Motorcycle Reports Record 3Q Results
PHOENIX, Nov. 4 -- Titan Motorcycle Co. of America (OTC Bulletin Board: TMOT) announced today record results for the third quarter and first nine months of 1998. For the three months ended October 3, 1998, the company posted net income of $206,600 or $0.01 per share on revenue of $8.17 million (up 121 percent) versus a net loss of $551,700 or $0.04 per share on revenue of $3.7 million for the third quarter of 1997. Net income for the first nine months of 1998 was $526,160 or $0.03 per share on record revenue of $21 million (up 125 percent) compared to a net loss of $1.1 million or $0.07 per share on revenue of $9.4 million for the first nine months of 1997. "We are encouraged by the continued year-to-year improvements in sales and net profit that the Titan team is achieving, and we are optimistic about our ability to continue to grow profitably in the future," said Frank Keery, chief executive officer. Founded in 1994, Titan Motorcycle Co. of America is a premier designer, manufacturer and distributor of high-end, American-made, V-twin engine motorcycles marketed under various Titan trademarks. Titan's unique, hand-built configurations, including the Gecko(TM), Roadrunner(TM), Sidewinder(TM), Scorpion(TM), and Coyote(TM), represent the finest available in custom-designed, volume-produced, performance motorcycles. Manufactured at the company's corporate headquarters and manufacturing facility, and available with a variety of customized options and designs, Titan large displacement motorcycles are sold through a network of over 80 domestic and international dealers. NOTE: Any statements released by Titan Motorcycle Co. of America that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the company's filings with the Securities and Exchange Commission.