Cycle Country's International ATV Accessory Sales Escalate From Surprising Foreign Demand Of All-Terrain Vehicles
MILFORD, Iowa--Aug. 5, 2003--| Domestically, Cycle Country Rolls-Out Multiple ATV Accessory Products For Land Pride's New All-Terrain Treker and Runabout Series Vehicles |
Cycle Country Accessories Corp. (AMEX:ATC), the outright leader in developing and manufacturing several custom-fitting accessories for the all-terrain vehicle (ATV), is pleased to announce that the Company's international sales of ATV accessories continue to show strong growth. International sales from the ATV accessories division, has exceeded last years revenue numbers by 16% through the first ten fiscal months ended July 31, 2003. One notable contributing factor for this positive increase is greater new ATV unit sales from the leading ATV manufacturers, including Polaris, Honda and Yamaha amongst others.
Recently, Polaris Industries announced that their overall ATV sales grew 24% with sales outside of North America increasing by a stunning 80 percent during the second quarter ended June 30, 2003 compared to the same period last year. The significant ATV sales growth both internationally and domestically, has put Cycle Country and their leading ATV accessories products in an enviable position. The Company offers custom-fitting accessories for literally every ATV make including all Polaris ATV models.
In other news, Cycle Country is continuing to build revenues by establishing additional original equipment manufacturing (OEM) business with strong brand market leaders. As the official accessories manufacturer for Land Pride's brand new product category of utility vehicles, the Company has recently begun shipping truckloads of various all-terrain vehicle accessory products. The newly designed custom-fitting accessories include front and rear racks, brush guards and rear screens for three of Land Pride's models from their All-Terrain Runabout (ATR) and Treker series of off-road utility vehicles.
Cycle Country CEO and President, Mr. Ron Hickman commented: "With well over seventy five percent of the annual all-terrain vehicle sales coming from customers right here in North America, the whole industry has tremendous opportunities for international expansion. Our Company has nineteen foreign distributors in place, selling products in thirty-five countries throughout Europe, Asia and South and Central America. As major ATV manufacturers continue to deliver amazing new unit sales increases overseas, we couldn't ask for a better environment to harness a greater amount of business from our established ATV accessory products. Coupled with significant new OEM business with market leaders like Land Pride, the next fiscal year is shaping up to be our most impressive ever. Cycle Country shareholders should be delighted to know that the current fourth quarter is on track to be the strongest one in the Company's current fiscal year ending September 30, 2003."
About Land Pride
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 with over 25 product groups with manufacturing plants in four communities in Kansas and a fifth location 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.
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.
Additionally, Cycle Country dominates the worldwide golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to OEMs globally. Further, the Company sells premium oil filters for motorcycles and ATVs under the brand name Perf-form Products. They also manufacture heavy-duty garden equipment attachments for garden tractors and other utility vehicles under the brand name Weekend Warrior.
For all news releases and the latest corporate filings simply 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 e-mail ATC@heritagefirstcapital.com.
Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351 Tel. 800/841-2222.