CAPE TOWN, SOUTH AFRICA--(Marketwire - April 14, 2009) -
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Leatt Corp. |
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.
Safe Harbor Statement
This release may contain certain "forward-looking statements" relating to
the business of Leatt Corporation and its subsidiary companies
(collectively, the "Company"). All statements, other than statements of
historical fact included herein are "forward-looking statements," including
statements regarding: the Company's ability to achieve its commercial
objectives; the business strategy, plans and objectives of the Company; and
any other statements of non-historical information. These forward-looking
statements are often identified by the use of forward-looking terminology
such as "believes," "expects," "anticipates," "seeks," "intends," or
"projects" or similar expressions, involve known and unknown risks and
uncertainties. Historical financial results are not, under current
economic conditions, indicative of possible future results. Although the
Company believes that the expectations reflected in these forward-looking
statements are reasonable as of the date made, they do involve assumptions,
risks and uncertainties, many of which are beyond the Company's control or
ability to predict, and these expectations may prove to be incorrect or
vary significantly from actual results. Investors should not place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of a variety of factors. All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly qualified in
their entirety by these factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.
