Leatt Corp. Projects Decrease in Gross Sales for Fiscal Quarter Ending June 30, 2009
Marketwire
VALENCIA, CA -- (Marketwire) -- 08/07/09 -- Leatt Corporation, a Nevada corporation (PINKSHEETS: LEAT) (Company), announced today that its sales in quarter two will be lower than expected due to production delay in the factory of approximately 7,850 braces.
A major factor in the decreased gross sales was the aforesaid temporary, now remedied, technical issue with the production process of the neck braces in our outsourced factories.
Dr. Chris Leatt, CEO of the Company, said, "We take the manufacturing processes of our brace products very seriously, in order to produce the finest neck brace products possible. The revision of production process is intended to enhance our overall delivery of quality products. The delay in the neck brace orders has been rectified and we are confident the new production process will further enhance our ability to deliver quality products in the future. While this order would have greatly improved our quarterly results if shipped before June 30, 2009, we expect to recoup these revenues next quarter." Further production delays are not envisaged.
Dr. Leatt also said, "We are still experiencing a worldwide recession but we are increasing our sales efforts at the dealer level to capture more sales at the initial sales point as well as expanding our marketing campaigns to increase the public visibility of our products in the U.S., Europe and 'Rest of World.' This effort will also dovetail with our planned introduction of new products scheduled for early 2010." |
