WASHINGTON, Mo., June 23 /PRNewswire-FirstCall/ -- Challenger Powerboats, Inc. ("Challenger") (BULLETIN BOARD: CPWB) today announced that it has received orders for 36 Sugar Sand and 17 Gekko boats, some of which are in the process of being shipped. The Company's Sugar Sand line of jet driven boats, which uses the same propulsion techniques as jet fighters, range from the 14 foot Sting model to the 23 foot Oasis model, and are all designed for extreme water sports, speed or just leisure cruising. And because of their water jet engineering, the boats can be used in shallow water ways and are highly maneuverable, bringing their sports capabilities to the extreme. Challenger's Gekko innovative line of boats, engineered with the most advanced engineered aerospace technology and exceptional strength, range from 20 feet two inches to 23 feet three inches and offer Mercury powered, 315 horse powered engines (standard). Gekko's superior handling and performance are empowered by its patented keel-forward hull design that tames rough water.
Challenger's Sugar Sand line of boats includes the Sting (14 feet), the Tango Xtreme and the Tango Super Sport (both 16.5 feet), the Mirage and Mirage Fun and Fish (both 18 feet), the Calais (19.5 feet) and the Oasis (23 feet). Its jet-powered propulsion consumes less fuel, has no outdrive or transmission, resulting in 100% of the power going directly to driving velocity, minimal maintenance and easy operation.
Challenger's Gekko boats are a line of world class tow boats, built to deliver the smoothest ride and produce symmetrical wakes that are essential for water sports. Using its patented deep forward keel design, Gekko boats slice through the roughest water to eliminate spray and promote acceleration. The 2006 World Barefoot Championships chose Gekko as its pull boat, while its Gekko Rev 6.7 has become the standard for wakesurfing testing. Challenger's Gekko line includes the Revo 7.1 (23.25 feet), Revo 6.7 (22.17 feet), Revo 6.7i (22.17 feet), GTX22, GTR22 and GTO 22 (all 21.58 feet), and the GTS (20.17 feet), which all come with a 310 horse power PCM.
Challenger's president and CEO, Laurie Phillips, stated, "The market is beginning to recognize the quality of our boats and their competitive price points. Our increased distribution effort is starting to have a positive impact on sales volume, and interest in our boat lines is growing both here and overseas." Ms. Phillips, added, "The Company's marketing advantages include quality, leading-edge engineering, and competitive cost of ownership. We believe these attributes are paramount to securing a critical mass in market share. Concurrent with our increased marketing and sales effort, we are in the process of heightening our cost management discipline in an attempt to maximize gross margins. In addition to increasing sales, we intend to expand gross margin to further our drive to profitability."
About Challenger Powerboats, Inc.
Challenger Powerboats, Inc. designs and manufactures high performance 'go fast' offshore racing boats, family sport cruisers, jet boats and water ski tow boats under the brands 'Challenger Powerboats', 'Sugar Sand' and 'Gekko', which target the recreational boating market. Proven world-class technology is incorporated into the manufacturing of our award winning boats at the Company's 65,000 sq. ft. facility located on our 12 acre complex in Washington, Missouri and 80,000 sq. ft facility in Fargo, North Dakota. The Company's boats are sold through our dealer network in the United States, Canada, Mexico, Europe, Australia, the Middle East and Japan. In 2006, Gekko was selected as an official tow boat for the World Barefooting Championships, and the European Barefooting Championships in 2005.
To find out more about Challenger Powerboats, Inc. (BULLETIN BOARD: CPWB) please visit http://www.challengerpowerboats.com/, http://www.sugarsand.com/, http://www.gekkosports.com/ or http://www.sec.gov/ to view the Company's public financial information and filings.
Forward-Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
Contact: Michael Novielli, Chairman, Challenger Powerboats, +1-845-575-6770
