PRESTON, Wash., Oct. 19 /PRNewswire/ -- Ride, Inc. (Nasdaq: RIDE), a leading manufacturer and worldwide marketer of snowboards and related products, today reported record earnings and revenues for the third quarter of 1995. Revenues for the third quarter increased 179% to $31,896,437 from $11,400,388 in the third quarter of 1994. Revenues for the nine months ended September 30, 1995 increased 286 percent to $49,160,061 in 1995 from $12,726,096 in 1994. Net income for the third quarter increased to $3,577,712 ($0.33 per share) from $1,186,619 ($0.16 per share) in the same period of 1994. Net income for the nine months ended September 30, 1995 increased to $4,082,558 ($0.40 per share) from $752,579 ($0.12 per share) for the nine months ended September 30, 1994. "We are very pleased to announce another quarter of record growth and profitability for our company," said Roger Madison, chairman. "The continued strong growth in the worldwide snowboard market, coupled with retailer interest driven by consumer demand for Ride product lines, contributed to this quarter's results." "These results reflect significant contributions from Ride, Inc.'s recent acquisitions," added James Salter, Ride's chief executive officer. "Our August acquisitions of Thermal Snowboards and 5150 Snowboards have integrated well thus far. These acquisitions coupled with our August 1994 acquisition of C.A.A. Sports Int'l continue to produce substantial returns to our shareholders." RIDE, INC. FINANCIAL HIGHLIGHTS (Unaudited) STATEMENT OF INCOME DATA: Three months ended Sept. 30, Nine months ended Sept. 30, 1995 1994 1995 1994 Net sales $31,896,437 $11,400,388 $49,160,061 $12,726,096 Cost of goods sold 22,795,541 8,289,079 35,982,601 9,309,927 Gross profit 9,100,896 3,111,309 13,177,460 3,416,169 Selling, general and administrative expenses 3,525,217 1,299,208 6,953,568 2,281,426 Operating income 5,575,679 1,812,101 6,223,892 1,134,743 Interest income 114,633 33,618 275,866 53,336 Income before income taxes 5,690,312 1,845,719 6,499,758 1,188,079 Income tax expense 2,112,600 659,100 2,417,200 435,500 Net income $3,577,712 $1,186,619 $4,082,558 $752,579 Per share: Primary $0.34 $0.16 $0.42 $0.13 Fully diluted $0.33 $0.16 $0.40 $0.12 Weighted average common shares outstanding: Primary 10,548,737 7,190,052 9,549,889 5,788,886 Fully diluted 10,832,001 7,626,722 10,158,727 6,152,500 RIDE, INC. BALANCE SHEET DATA September 30, December 31, 1995 1994 Working capital $26,997,687 $7,850,819 Total assets $56,006,747 $15,718,315 Long term debt --- --- Total shareholders' equity $43,494,326 $11,523,846 The above results reflect the company's August 18, 1994 acquisition of C.A.S. Sports International and its September 1, 1995 acquisition of Thermal Snowboards and 5150 Snowboards from their respective acquisition dates. CO: Ride, Inc. ST: Washington IN: SU: ERN