(Nasdaq: RIDE - news). Ride Announces 26% Increase in Preseason Orders PRESTON, Wash., June 2 /PRNewswire/ -- More good news from a resurgent Ride, Inc. (Nasdaq: RIDE - news). Buoyed by its very positive showing during the just-completed industry tradeshow circuit, Ride announced today its preseason orders for the 1999-2000 product-line increased 26% in the aggregate. As the following chart demonstrates, orders are up substantially from '98 - '99 sales levels across the spectrum of products (US$ in 000's):
Product 1999 1998 % Change
Snowboards $16,994 $14,296 19% Boots 8,748 6,357 38 Bindings 11,367 8,551 33 Apparel & Acces. 5,333 3,367 58 (excluding SMP) OEM, wake, other 1,426 2,380 (40) Total $43,868 $34,954 26%
''I was cautiously optimistic about next year's sales following the tradeshows in Canada, Europe and Japan,'' stated Robert Marcovitch, President and CEO of Ride. ''But I was reserving judgment until after the figures from the SnowSports Industries America tradeshow in Las Vegas were in.''
The numbers are clearly cause for optimism at Ride. ''We exceeded our forecasts,'' noted Marcovitch. ''Orders are up in all product categories across the board, from our national accounts to the all-important core shops.'' Indeed, the only place where the company saw a drop in orders is in the OEM, wake and other category which reflects its decision to forego certain OEM opportunities that did not fit in with Ride's strategic direction. The company believes this year's orders are a reflection of growing consumer demand for Ride products. ''Quality-conscious and image-oriented consumers alike are asking for Ride products,'' noted Mark Brasier, Ride's Vice President of Sales. ''If our preseason results are any indication, retailers are listening.''
Established in 1992, Ride is headquartered at the foothills of the Cascade Mountains, in Preston, Washington. For passionate action sports enthusiasts of all ages, Ride represents an uncompromised approach to fun and provides superior product and lifestyle experiences under the brand names: Ride, Liquid, 5150, Fulltilt, and Smiley Hats.
Preseason orders in the wintersports industry are subject to revision or cancellation by retailers. To the extent this Press Release discusses financial projections, information or expectations about Ride, Inc.'s products or markets, or otherwise makes statements about the future, such statements are forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from statements made. Factors which could cause actual results to differ materially include, but are not limited to, those set forth in the ''Risk Factors'' section of the Company's 1998 10-K, as well as any additional disclosures in the Company's most recent quarterly report on Form 10-Q, each as filed with the Securities and Exchange Commission.
CONTACT: Ride, Inc. Public Relations Department, 425-222-6015, ext. 258.
|