VALENCIA, CA--(Marketwire - August 07, 2009) -
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Leatt Corp. |
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."
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 help prevent or lessen the severity of motor sport injuries to the neck. It sells its products through Internet and sales representatives worldwide.
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," "anticipates," "should," "expects," or similar
expressions, involve known and unknown risks and uncertainties. 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.
