The Colonel's Reports Sales
16 April 1998
The Colonel's Sets Record in Sales and Earnings for '97
MILAN, Mich., April 16 -- The Colonel's International, Inc.
, a manufacturer, distributor and retailer of automotive and
light truck parts and accessories, recorded higher revenues and net income in
its fiscal year ending December 31.
Revenues, fueled in part by acquisitions, rose 15 percent to $46.4 million
last years compared with $40.3 million in 1996.
Net income, despite the cost of a number of acquisitions completed during
the year, increased 35 percent to $3.4 million or 14 cents a share compared
with $2.5 million or 10 cents a share in the previous year.
According to a Company spokesperson, "1997 was really a new beginning for
the company, highlighted by a significant, and apparently successful,
broadening of our business.
"We clearly have found a small 'niche' in servicing the needs of the
sports-utility vehicle and light truck markets, which today is, numerically,
the largest sector of the automotive market, accounting for probably half of
the vehicles being sold.
"During the year we began implementation of our plan to become a fully
vertical integrated company by developing warehouse and retail outlets."
As of April 13, 1998, the Company had a total of 24 distribution, and
retail outlets.
The Company's fourth quarter ended December 31 showed a 16 percent gain in
sales to $12.3 million and, despite the cost of acquisitions, profits rose to
$1,266,616 compared with income of $920,484 in the same quarter a year
earlier.
The spokesperson continued that "our goal is to manufacture many of the
products that we sell at retail, particularly those among the fifteen most
demanded items, and to be a significant national retailer." Currently, The
Colonel's has outlets in 13 states. Manufactured products sold through
Company owned distribution now include bedliners, tonneau covers, caps and
shells. It is also the nation's largest manufacturer of replacement auto
bumpers.
Looking ahead at the current year, the spokesperson indicated that "we are
expecting 1998 to be another terrific year as we continue our program of
expansion."
The Colonel's International is a holding company for three wholly owned
subsidiaries. The Colonel's, Inc., based in Milan, MI, manufactures and
distributes replacement bumpers and facias. The Colonel's Truck Accessories,
Inc., based in Owosso, MI, manufacturers bedliners, caps, tonneau covers and
other truck accessories. Brainerd International Raceway, Inc. owns and
operates a multi-purpose motor sports facility in Brainerd, MN.
This news release includes certain statements that may be considered
forward-looking under the Private Securities Litigation Reform Act of 1995.
These statements are subject to a number of important risks and uncertainties
that could cause the contemplated transactions not to occur.
THE COLONEL'S INTERNATIONAL INC.
For the fourth quarter ended December 31
1997 1996
Sales $12,271,056 $10,608,096
Net Income 1,266,616 920,484
Earnings Per Share 7 cents 3 cents
Shares Outstanding 24,177,805 24,177,805
For the Year ended December 31
1997 1996
Sales $46,350,114 $40,263,082
Net Income 3,408,759 2,521,986
Earnings Per Share 14 cents 10 cents
Shares Outstanding 24,177,805 24,177,805
SOURCE The Colonel's International, Inc.