HASTINGS-ON-HUDSON, N.Y., Oct. 9 /PRNewswire/ -- PTI Holding Inc. (Nasdaq: PTII) announced today that net sales for the third quarter will exceed $4 million. The third quarter's revenues will be in excess of 100% greater than the prior years revenues of $1,906,634 for the quarter ended September 30, 1995. While the company did not release an earnings estimate for the quarter as it could not be determined at this time, it expects earnings to increase significantly over the same period last year.
Warren Schaeffer, President of PTI stated: "We are extremely pleased with our sales performance during the third quarter. This years growth in the third quarter was due to increased sales in the accessory business as well as increases in helmet sales. New accessory items shipped for the first time in the second quarter have been selling through nicely. This has led retailers to give us significant reorders on our new product lines. The increasing role of accessory items has been quite dramatic in the growth of the company. Accessory items for 1996 will account for approximately 30% of sales, up from only 5% last year. Our growth has come from our ability to continue to develop new value oriented products that we can sell through our existing distribution channels. We see the growth rate in our non-helmet sales out- pacing the continued growth in helmets in 1997 as we expand and diversify our product lines."
PTI manufactures and distributes a full line of bicycle helmets and bicycle accessories as well as children's bicycle accessories sold under the Playskool(TM) brand name. PTI products are sold nationwide at Toys "R" Us, Target Stores, Sports Authority and Sam's Club.
SOURCE PTI Holding, Inc.
-0- 10/09/96
/CONTACT: Karl Foust, Financial Relations, 800-484-6552, pin #7071, or Meredith Birittella, CEO, 914-478-8200, or http://www.growth.com/MENU/PTII -- Internet, both of PTI/
(PTII)
CO: PTI Holding Inc. ST: New York IN: TEX SU: SLS
BS-LH -- NYW051 -- 2392 10/09/96 10:40 EDT http://www.prnewswire.com
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