Cycle Country Accessories Corp. posted a revenue increase for a positive fiscal 2008 first quarter, according to a press release from the company Feb. 15.
Revenue was $5 million for the company’s recently completed quarter, up from $4.7 million in the first quarter of 2007. Total revenue for the ATV Accessories segment grew to $4.2M, compared to $3.8 million in fiscal year 2007.
Net Income increased nearly 100 percent to $734,600 in the current quarter as compared to $368,600 in the same quarter of 2007. Operating Profit increased 24 percent for the ATV Accessories division.
The company attributes the strong results to the introduction of new products, having brought out more than 80 in the past 12 months; a focus on a reduction of costs, as realized with investments made in a new ERP system in October 2006; and the amount, breath and frequency of snow in the Snow Belt.
“Our sales efforts with our valued distributors are paying off, as the distributors now include in their catalogs our full line of new and existing products that cover all seasons, not just snow plows,” said Randy Kempf, Cycle Country president and CEO.