SALEM, Ohio, Aug. 31 /PRNewswire-FirstCall/ -- Giant Motorsports, Inc. (OTCBulletinBoard:GMOS) (the 'Company'), a leading retailer of Motorcycles, ATV's and powersports accessories announced its financial results on August 14, 2007 for six months ended June 30, 2007 in its 10-Q. Giant has been implementing a BIG-BOX retail strategy in an attempt to present a solid business model and corporate management structure for consolidating the Motorcycle industry.
In an analysis of the 6 month financial results for the period ended June 30, 2007, despite revenues easing by 2.7% from $57,760,063 in 2006 to $56,213,047 in 2007; income from operations grew a significant 56.6% from $1,348,299 in 2006 to $2,111,434 for the same period in 2007.
"Our industry consolidation strategy continues to show its legitimacy, more so this year than ever before." "We've managed to continually wring out the costs associated with doing business, without significantly reducing our total revenues and this has always been the foundation of our business model. Giant has created 'economies of scale' while reducing costs, bringing significant earnings growth to our shareholders, even within the 'softer' retail economy," said Giant's President, Greg Haehn.
"We are very pleased with the way the business model is playing out," continued Mr. Haehn. "I think the abundant growth of our operating income should be seen as a real catalyst for a wider implementation of our strategy." Giant Motorsports, Inc. www.giantcorporate.com is a retailer of new and used motorcycles, all-terrain vehicles (ATVs), accessories, extended service contracts, and aftermarket motorcycle products. The Company's two superstores, which are located in Chicago, Illinois and Salem, Ohio, also include service departments and arrange financing for customers. The "Big Box" locations draw customers from neighboring cities and states. Its long- term plan is to consolidate the fragmented power sports industry through acquisitions. The Chicago store operates under the name Chicago Cycle and the Salem store operates under the name Andrews Cycles.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: sales of the Company's motorcycle and power sports products; the implementation and expansion of the Company's business strategies; competition and the timing of projects and trends in future operating performance, and other risks discussed in the Company's periodic report filings with the Securities and Exchange Commission.
Source: Giant Motorsports, Inc.