The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Ultra Motorcycle Co. Reports 2nd Quarter Financial Results and Record 6 Month Revenues

7 August 2000

Ultra Motorcycle Co. Reports Second Quarter Financial Results and Record Six Month Revenues

    MIRA LOMA, Calif. - Bikers Dream Inc., which does business under the name Ultra Motorcycle Co. , Monday reported:

    Revenues were $9,502,000 for the quarter ended June 30, 2000, compared with $6,386,000 for the same period in 1999, representing an increase of $3,116,000 or 49 percent. The company shipped 500 units in the quarter ended June 30, 2000, as compared with 412 units shipped in the second quarter a year earlier.

    The company attributes a large portion of the increase in revenues and unit sales to the demand for the popular "Fat Pounder" model, which was introduced for the 2000 model year.

    Net income from continuing operations was $679,000 for the quarter ended June 20, 2000, compared with $562,000 for the same period in 1999.

    After recording other income and expenses, the results of discontinued operations and preferred dividends, the net income available to common stockholders for the period ended June 30, 2000, was $1,474,000 ($0.17 per share) as compared with $167,000 ($0.03 per share) for the comparable period in 1999.

    Included in other income for the quarter ended June 30, 2000, were one-time gains on the settlement of litigation and extinguished debt.

    Revenues for the six months ended June 30, 2000, were $16,214,000, compared with $12,310,000 for the same period a year earlier, representing an increase of 32 percent. Units shipped for the six-month period ended June 30, 2000, increased to 874, from 764 in the period ended June 30, 1999, representing a 14 percent increase.

    Net income from continuing operations was $176,000 for the six months ended June 20, 2000, compared with $1,059,000 for the comparable period a year earlier.

    As described in Footnote 14 of the company's Annual Report on Form 10-KSB dated Dec. 31, 1999, the company recognized an aggregate of $969,000 in charges to cost of goods sold during the fourth quarter of 1999, which may have been attributed to prior quarters in 1999.

    After recording other income and expenses, the results of discontinued operations and preferred dividends, the net income available to common stockholders for the six-month period ended June 30, 2000, was $665,000 ($0.08 per share), as compared with a net loss of $28,000 ($0.01 per share) for the comparable period in 1999.

    The company anticipates filing its report on Form 10-QSB for the second quarter ended June 30, 2000, with the SEC on or before Aug. 15.

    Ultra Motorcycle Co. is a manufacturer and distributor of quality-built American heavyweight cruiser motorcycles. Corporate headquarters and manufacturing operations are located in Mira Loma.