Tuesday October 19, 4:34 pm Eastern Time
This is a couple weeks old, and I don't know if anyone is even following this stock anymore. FWIW, I am, and feel that these rock bottom prices are a bargain. They built and sold 1000 bikes in a quarter and a month of production this year. If they keep it up, 5000 isn't unreasonable for FY2000. I understand that would be about breakeven for the company. Comments?
Snodog
Company Press Release
Excelsior-Henderson Calls New Financing One of
Several Solid Steps in Growth Plan
Dealer Network Increasing, Costs Decreasing
BELLE PLAINE, Minn.--(BUSINESS WIRE)--Oct. 19, 1999-- Newest Model Well Received
Excelsior-Henderson Motorcycle Manufacturing Company (Nasdaq: BIGX - news) today provided a progress report on
recent steps taken to drive future company growth. The comments by company management were a reaction to yesterday's
announcement of the signing of a letter of intent for $4.5 million in additional financing from two of the company's initial
institutional investors.
``This new financing package not only shows investor confidence in our overall plan,' Jack Thornton, President and COO said,
``but reflects the significant improvement the company has experienced in the key areas of distribution, cost control and product
innovation. Best of all, our employees, dealers, suppliers and customers have accomplished solid progress in just six weeks.'
The company revealed that since its realigning effort was announced in early September, component cost of the bikes has been
lowered about five percent, the number of dealers has increased by approximately 20 percent, and that the current workforce
has had no difficulty meeting weekly unit shipping targets.
Co-Founders Dan, Dave and Jennie Hanlon pointed out that the improvements noted in manufacturing efficiency are a direct
result of employee dedication. ``The hard work, innovations and cost saving ideas of our team have enabled us to improve our
numbers and meet our production targets, without impacting the quality of our motorcycles. The spirit of Excelsior-Henderson
has never been better,' the Founders added.
The Company also announced that dealer and customer reactions to its new cruiser motorcycle model (Deadwood Special)
have been very good and that other innovations--both in performance and styling--are anticipated in the near future.
``We know more about our customers and our marketplace than at any time in our history,' the Founders said, ``and we will
begin targeted sales training programs and product development efforts to add to our success.'
``Further, and most significantly, we believe that yesterday's financing announcement underscores our aggressive plan, recent
improvements and rededication of the entire Excelsior-Henderson team to provide the momentum so vital to our bright future,'
Thornton added.
Excelsior-Henderson Motorcycle Manufacturing Company designs, manufactures, markets and sells a proprietary brand of
premium heavyweight American cruiser motorcycles, as well as related parts, apparel and accessories branded with a name that
evokes an authentic American motorcycling heritage and lifestyle. The Company distributes its products through a national
dealer network. Excelsior-Henderson is one of only two authentic American motorcycle companies exclusively committed to
the manufacture of motorcycles. For additional information, visit the Company's web site at www.excelsior-henderson.com.
Contact:
Excelsior Henderson, Belle Plaine
Jack Thornton
President
Excelsior-Henderson
(612) 873-7000 |
