MILFORD, Iowa, March 2, 2004 (PRIMEZONE) -- Cycle Country Accessories Corp. (AMEX:ATC), the outright leader in developing and manufacturing select custom-fitting accessories for the all-terrain vehicle (ATV) and other diversified industry products, will be operating at full capacity production through the end of July building snowplow blades, push tubes, and lift kits right alongside mowers, spreaders, sprayers, 3pt implements and other summer products. Powersports Business estimated a $2.7 billion increase in the powersports industry in 2003 over the same 12-month period in 2002.
Labor saving ATV's and their specialty attachments are the ideal solution for the necessary maneuverability and power needed in farm and garden chores. Cycle Country's specially designed moldboard plows, disc harrows, furrowers, cultivators, row planters, and seeders enable an ATV to do the work of a full-sized tractor. Work and play are often confused when an ATV and Cycle Country's attachments are utilized. Winch mounts, chains, plastic cargo boxes, and gun racks convert any ATV into the perfect working toy for popular outdoor activities.
"Our target market of sportsmen and large landowners represent about 45% of the $7.7 billion ATV industry," said Mr. Ron Hickman, CEO and President of Cycle Country Accessories. "We are encouraged by the continued growth in sales of utility ATVs and the growing demand for our products that is keeping us at full production capacity."
Powersports Business reported an 8% growth in the U.S. powersports industry last year. The powersports industry, which includes motorcycles, ATVs, snowmobiles, personal water crafts, and utility vehicles, has the attention of Wall Street investment bankers and groups. It is the opinion of Powersports Business that the "movement of money and control into powersports probably will continue and may well increase."
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.
The Company has 16 domestic and 19 international distributors that sell Cycle Country products in 37 countries throughout North America, Asia, Europe, Central and South America. Additionally, Cycle Country dominates the golf car wheel cover market by manufacturing approximately 90% of all wheel covers sold to original equipment manufacturers worldwide. The Company sells high-performance premium oil filters for motorcycles and ATVs throughout the U.S. under the brand name Perf-form Products. They also manufacture heavy-duty garden equipment attachments for garden tractors, ATVs and other utility vehicles within the Lawn & Garden industry under their brand name Weekend Warrior.
For the latest SEC filings or past news releases, go to the company's website at http://www.cyclecountry.com and click on the Investor Relations heading. Please direct any financial questions to Todd Doom at Magellan Financial Media Group, LLC. (317) 867-2839.
Cycle Country Accessories Corp: 2188 Hwy. 86, Milford, Iowa 51351, (800) 841-2222.
Forward-looking statements: This press release and other statements by Cycle Country may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."