Leatt Corporation Posts Audited Financial Statements for Year Ended December 31, 2008
Marketwire
Posted: 2009-04-14 10:16:00
CAPE TOWN, SOUTH AFRICA -- (Marketwire) -- 04/14/09 -- Leatt Corporation (PINKSHEETS: LEAT), a Nevada, USA Corporation headquartered in Cape Town, South Africa, the developer of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), announced today that its audited Consolidated Financial Statements for the year ended December 31, 2008 ("FY 2008") have been posted on the Company's corporate web-site: www.leatt-corp.com.
Leatt Corporation and its subsidiaries ("LC" or "Company") today announced financial results for its fiscal year ending December 31, 2008. LC posted gross revenues of $18,778,412 and a net income of $1,967,486. These results compare to gross revenues of $18,317,382 and net income of $1,984,900 for the fiscal year ended December 31, 2007. Our full financial results for Fiscal Year 2008 are set forth on the Company's web site and shareholders should review those statements to more fully understand our financial results for Fiscal Year 2008.
Dr. Chris Leatt, designer of the Leatt-Brace® and Chief Executive Officer of Leatt Corporation, stated, "The Fiscal Year 2008 financial results are encouraging to LC management given the economic slowdown during 2008; we see a softening of sales of our product as the slowdown widens in the motor sports industry in late 2008 and in 2009. Our goal is to comply with the financial requirements necessary to achieve greater liquidity and exposure for the Company's common stock."
About Leatt Corporation
Leatt Corporation engages in the design and development of cervical spine protection equipment for various forms of motor sports. The Company offers Leatt-Brace®, a neck brace to prevent or lessen the severity of motor sport injuries to the neck. It sells its products through Internet and sales representatives worldwide. The Company was incorporated in March 2005. |
