(Spencer)– Cycle Country Accessories Corporation today (Monday) announced some changes have been made to the company’s board of directors that were effective Friday (Aug. 21st).
Members of the board elected Dan Thralow to fill a director seat previously occupied by F.L. Miller who served the company since 2001, most recently as Chairman of the Board.
Thralow is founder and CEO of Thralow, Inc., a holding company of over 30 internet-based retail sites including binoculars-dot-com, telescopes-dot-com and peepers-dot-com.
Robert Davis was elected to fell a director seat previously occupied by Rod Simonsen, who served the company since 2001. Davis is an outside consultant and serves as Cycle Country’s Interim Chief Financial Officer.
L.G. Hancher, Jr. was elected Chairman of the company’s board.
On a related note, Cycle Country announced last week a net loss of a little more than a dollar per share for the three months ended June 30th, 2009. That compares to a gain of six cents a share a year ago the same time.
For the previous nine months, the company reports a decline in Cycle Country ATV Accessories of slightly more than 39 percent. Two other divisions also posted declines–Plazco of nearly 63 percent and Imdyne of nearly 48 percent.
The company expects to return to profitability in 2010 by reducing operating overhead and reviewing manufacturing costs and management processes.
