Cycle Country Accessories Corp.’s (ATC) President Discusses Dismal Third Quarter Earnings and Plans for Change
QualityStocks (August 15th, 2008) Writes:
Cycle Country Accessories Corp. (AMEX: ATC), a manufacturer of ATV accessories including straight blades, plows, mowers, spreaders, sprayers and trailers, recently announced its financial results from the third quarter of the company’s fiscal year. Shares of Cycle Country’s stock plunged to a multi-year low late last week after the company reported a net loss of roughly $370,000 on revenues of approximately $3.5 million, or a loss of $0.06 per share for the third quarter.
During the third quarter of the fiscal year for 2007, Cycle Country recorded a loss of $0.05 per share on quarterly revenues of approximately $2.5 million. Due to the disappointing third quarter results and high material costs into the fourth quarter, the company realizes that previous year-end guidance is no longer feasible. The company’s revised earnings guidance for the full year is expected to be in the range of $0.10 per share to $0.14 per share.
...Cycle Country Accessories Corp., Jeffrey M. Tetzlaff, Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch, USD


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