SAN DIEGO, Calif. (BRAIN) — Canyon Bicycles will be the title sponsor of the 2018 Belgian Waffle Ride, the seventh edition of the more-than-140-mile road and off-road event.

The next BWR will be held in North County San Diego on April 15, 2018. A shorter and half-as-painful Belgian Wafer Ride is also on tap, along with an expanded expo hosted by The Lost Abbey Brewery in San Marcos, California.

The full 235-kilometer course features 13,000 feet of undulating climbs and more than 40 miles of off-road terrain.

"We are excited to partner with Canyon on our manic event," said Michael Marckx, the creator of BWR and the CEO of Monuments of Cycling.

Blair Clark, Canyon U.S. president, said, "The Canyon Belgian Waffle Ride will be an ideal event for Canyon to showcase their variety of bikes perfect for the back roads of San Diego, or whatever twisted courses your heart may lead you on. The BWR, or 'Hell of the North County,' is not just an extraordinary race. It's a celebration of life, how much can be accomplished on a bike, and the magical connections that develop between people who suffer together (s)mile after (s)mile."

Returning sponsors include JL Velo, Lost Abbey, Wend Wax Works, Shimano, Source Endurance, CLIF BAR and Velofix.

The race day is preceded by an expo on Saturday, April 14. This year a King of the Canyon competition will be added in celebration of the event's new title sponsor, while the other categories will continue, including General Classification, King/Queen of the Mountain, King/Queen of the Dirt, King/Queen of the Sprints, Hardman/Hardwoman and the most spirited kUDOs award in honor of Udo Heinz.

Registration will open Dec. 1. Entry fee is $160 for the full Canyon Belgian Waffle Ride and $125 for the 68-mile Belgian Wafer Ride. Proceeds from registration fees will help support the Challenged Athletes Foundation, whose mission is to provide opportunities and support to people with physical challenges so they can pursue active lifestyles through physical fitness and competitive athletics.

More information at BelgianWaffleRide.Bike or Facebook.com/Belgianwaffleride.

Registration is at bikereg.com/canyonbwr.

COLORADO SPRINGS, Colo. (BRAIN) — Borealis Fat Bikes is the latest bike company to appear on a televised entrepreneurs show. Steve Kaczmarek, the brand's owner, appeared on CNBC's "Adventure Capitalists" during a prime-time episode Tuesday.

Show host Jeremy Bloom, a world champion skier and Boulder, Colorado, resident, offered Kaczmarek $250,000 for a 25 percent stake in the company. Negotiations are still underway.

Kaczmarek started Borealis Fat Bikes in 2013. Last year, sales reached $2.5 million.

"Appearing on 'Adventure Capitalists' was the highlight of the year," Kaczmarek said. "Borealis Fat Bikes was able to demonstrate the versatility of our products on national TV with superstars — and it was gratifying to have the investors recognize that our new bikes are even better and lighter than previous models. This entire experience was amazing from the start."

LONG BEACH, Calif. (BRAIN) — ACT Lab, an independent third-party accredited laboratory that conducts safety and compliance testing for consumer products, has retained SOAR Communications of Salt Lake City to manage its public relations, media relations, and corporate communications.

SOAR Communications is a full-service public relations firm, with a special focus on the sports and outdoor recreation channels, two of ACT Lab's key areas of expertise.

Michael Baker, head of ACT Lab's global sales and marketing, said, "We're happy to have SOAR on board. Our staff has doubled since we expanded to our Long Beach facility three years ago and opened our newest lab last year in Taichung, Taiwan. The increased focus on product quality and development, and the ever-changing global regulatory landscape have helped push demand for our services."

Among other tasks, SOAR will produce ACT Lab's e-newsletter, a summary of consumer safety standards that helps manufacturers and suppliers stay apprised of how global safety regulations affect them. 

SOAR's president, Chip Smith, said, "ACT Lab is a world-class product and chemical testing facility that provides critical services for consumers. Many of us in the industry don't realize what a huge role they have ensuring the safety of the products we buy and use. SOAR is going to help tell ACT Lab's story."

SOAR's current and past clients include Bergans of Norway, Bike Utah, Focus Bicycles USA, Haibike, IZIP, Interbike, Kalkhoff, Kinetic Trainers, Nordica, Outdoor Retailer, Popticals, RockyMounts, SealSkinz, TravelChair, and Trips for Kids.

NOVATO, Calif. (BRAIN) — Marin Mountain Bikes Inc. has hired industry veteran Chuck Sikora to represent the brand in Minnesota, Wisconsin, North Dakota, South Dakota and Iowa.

Sikora comes to Marin with over 40 years of industry experience, including a 33-year stint with Schwinn Cycling & Fitness, having started at the company as a wheel builder in their Chicago factory. Post-Schwinn, he was a regional sales manager for Nautilus Fitness.

As an independent territory manager, Sikora currently reps for Serfas, Sigma, Nutcase Helmets, ProTec Helmets, Six Six One, Lizard Skins, North American Cycling, and Feedback Sports.

"I am super excited to be a part of the Marin team," said Sikora. "I feel that the company and model lineup are going in the right direction, and I look forward to growing the line in my territory."

Tom Jackson, Marin's national sales manager, said, "We're really looking forward to having Chuck grow our sales and awareness in the upper Midwest. With his lifelong experience working with the dealers in the region, there's nobody who better knows what these shops want and need. Welcome aboard, Chuck."

Sikora will be contacting current and prospective Marin dealers in the coming weeks, and can be reached at cubschwinn@aol.com or 612-750-1324. 

SANTA ROSA, Calif. (BRAIN) — World Champion Peter Sagan will participate in a Nov. 28 ride to raise funds for the survivors of the Sonoma County wildfires. 

The event is being sponsored by Osmo Nutrition, Bike Monkey, Sonoma Pride, and Trail House Santa Rosa. For more info, or to register, go to bikemonkey.net/saganrides.

The ride will raise money through the Sonoma Pride and the King Ridge Foundation. There will be two ride distances: 38 miles with 1650 feet of elevation gain, and 31 miles with 1100 feet of elevation gain. California Highway Patrol, police, on-bike marshals, moto officials and SAG will provide basic rider support.

After the ride, participants will head to Trail House Santa Rosa for food and drink Purchases of Sonoma Pride beers on tap at Trail House will support the #SonomaPride fundraising effort by King Ridge Foundation. 

More information on Sonoma Pride can be found at sonomapride.com.

WEST HILLS, Calif. (BRAIN) — Longtime cycling industry photographer Chris Hatounian was severely injured in a mountain bike accident last month while riding at Mt. Pinos, just north of Los Angeles.

According to industry consultant Brian Hemsworth, who was riding with him at the time, Hatounian sustained significant injuries, including a punctured lung, five broken ribs, a cracked sternum, and a torn rotator cuff.

"Chris was ahead of us, and when we came around the corner, Chris was down," said Hemsworth. "Chris was conscious, but not very responsive, and his breathing was very labored. We checked his limbs and torso and couldn't find any breaks or obvious injuries, but his breaths were short and inconsistent, so we were pretty sure there was some chest and lung injuries."

"We had radios, but the distance to the shuttle cars was too far, so we sent a rider for help, and others stayed with him," Hemsworth continued. "We carefully got him from the trail to a nearby road, where we put him in a van, and rendezvoused with the EMTs. They took over from there."

Hatounian was later transported to Henry Mayo Newhall Hospital where he spent the better part of a week in intensive care, and was transferred to the Kaiser Permanente Hospital in Woodland Hills.

Cycling journalist and friend Dan Koeppel has started a GoFundMe campaign to help Hatounian and his family with expenses not covered by insurance during his convalescence. Donations can be made at gofundme.com/MTBchris. 

DETROIT (BRAIN) — The Detroit Fitness Foundation has announced that Lexus has paid for naming rights at its indoor multi-sport complex, which includes a 166-meter velodrome. The complex is officially named the Lexus Velodrome and is set to open to the public in January.

"Lexus is committed to giving back to the local community and we are proud to be the naming rights sponsor of the complex," said Mark Nazario, general manager of Lexus Central Area. "We look forward to being a part of the positive impact the complex will have on community members and metro Detroit."

The $4 million complex is owned and operated by the nonprofit organization DFF.

"We are thrilled and honored to have Lexus as a partner," said Dale Hughes, DFF's executive director. "Their commitment now and in the years ahead supports both the DFF mission and the City of Detroit's plans to invest in its parks, its neighborhoods and its people, especially youth"

Besides the velodrome, the facility has four flat lanes for running, walking and skating; a multipurpose infield for exercise classes and special events, and a café with light food and drinks. More information at lexusvelodrome.com.

JULIAN, Calif. (BRAIN) — Clear Bicycle Company, the latest endeavor by industry veteran Skip Hess, has hired Steve Boehmke for sales and marketing support.

Clear offers a $699 bike, called the One, as well as components and softgoods. The company said it offers IBD "seriously profitable margins."

"When I saw the bike and accessory designs, I just asked Skip, 'how can I help?'" said Boehmke. "He replied 'do what you do!' which is to get the word out and connect with the right dealers and media across the country."

The One model has 29x 40 mm Kenda micro-knob tires, Avid disc brakes, SRAM 9-speed shifting, a two-piece chromoly spindled crank set, microfiber padded saddle, and a full pressure-formed 6061 aluminum frame design exclusive to Clear. 

Designed for commuting and campus use, the One also has bolt-on axles for theft protection. 

More information at Facebook.com/clearbicyclecompany.

NEVERS, France (BRAIN) — Look Cycle Group has hired industry veteran Mike Gann as vice president of sales and marketing in the United States. Gann brings more than 25 years of experience spanning several facets of the business of cycling.

Gann has held several executive positions within the industry, working for American Bicycle Group, Titus Cycles, and Advanced Sports Inc. Most recently he was president of Niner Bikes for the past two years; he was with Niner for a total of six years.

"Mike's experience in so many areas of the bicycle business make him a natural fit to lead our efforts in North America as we seek to grow the Look Cycle and Corima brands globally," said Federico Musi, the CEO of Look Cycle Group. "We feel like the time is right to invest in the USA market with Look and Corima, and are confident that Mike will build a team to help retailers succeed with our brands moving forward."

Gann's primary role will be to work with Hawley-Lambert to grow the Look dealer base through an evolving IBD support/education program, to include retail merchandising support, in-store product and brand education, customer loyalty programs, MAP pricing enforcement and more. Independent of his work with Hawley-Lambert, he will work to establish a U.S. sales and support network for the Corima brand.

"I couldn't be more pleased to join the team at Look Cycle Group," said Gann. "I've always had a great deal of respect for the Look and Corima brands and look forward to helping to increase its presence here in the States."

Gann will be based out of Bradenton, Florida, and can be reached at mgann@lookcycle.fr or mg@corima.com.

RANCHO SANTA MARGARITA, Calif. (BRAIN) — Felt Bicycles has made a series of changes under its new ownership, Rossignol Group.

"We're starting chapter three in the history of the company," Bill Duehring, president of Felt, told BRAIN. "Chapter one was when Jim [Felt] founded the company, built his first frame. He sold those frames with the help of Answer Products. After Answer was sold, Jim needed a new set of partners. Jim and I got together with Michael Mullmann to start the second chapter. That chapter was almost 19 years long. We took a company known for high-quality framesets and turned it into a global bike brand. Now in April, Rossignol purchased Felt and we've been working on a plan to relaunch Felt."

Felt announced earlier this month that Jim Felt was leaving the company. It announced last week that Jake Duehring would lead the company's sports marketing efforts, a task previously handled by Jim Felt. 

As part of this relaunch, Felt is transitioning inside sales to Rossignol's inside sales group in Park City, Utah. Those jobs will be moving from Buffalo, New York, and California. Approximately five people are affected by these changes, and Duehring said sales staff were offered opportunities to relocate to Park City. There are no changes, however, to Felt's outside sales. John Georger, longtime national sales manager at Felt, will depart at the end of January.

The company announced the changes to its retailers last week in a dealer letter.

Georger had been with the company 14 years. He and Duehring had worked together nearly 30 years, dating back to their days working for GT Bicycles.

"John's contribution to Felt cannot be summarized in only a few words," said Bill Duehring. "He has been a spectacular contributor to Felt's success from the early beginnings and his industry knowledge, business insight and personal connections will be greatly missed."

Rossignol's inside sales staff will sell Time, Rossignol and Felt brands. Nine people will sell both ski and bike products.

Felt's accounting/finance group also will transition to Park City in May. The change began several months ago when Rossignol's Park City location began handling all credit management for Felt.

"This is to control overhead and grow the company efficiently," Duehring said. "We looked at synergies between Rossignol, Felt and Time."

In addition to these changes, Felt recently completed a move into a new, larger facility in Southern California that will become its global headquarters. The new facility in Rancho Santa Margarita is nearly 50 percent larger than its Irvine offices and has a showroom where Felt will be able to host national sales meetings, distributor meetings or retailer training. The new building also has an expanded shop and R&D department.

"We can work faster at making prototypes and we've invested in equipment, so that's a big step up from a facility standpoint for the brand," Duehring said.

The Southern California headquarters will continue to handle product development, engineering, marketing, creative and international sales. And Felt's warehouse will remain in Ontario along with dealer support.

Felt is also moving its German offices from Edewecht to Munich, where it will share space with Rossignol. Duehring said Munich is easy to get to from Los Angeles and also for anyone traveling there from other parts in Europe. He also said it puts the company closer to the bike industry in the region. The move should be completed by the end of the year.

The Munich office will handle sales and marketing for Europe.

"Felt's done a lot of amazing things but the bicycle industry is under pressure and we have to take a step back and redesign the company so we can move forward," Duehring told BRAIN. "That's what we've done with Rossignol over these past weeks and months to prepare for this.

"Why did we make these changes and tough decisions?" Duehring added. "Because we want to be a better supplier to our dealers. We're going to be a stronger company so we can help that dealer network."

SANTA CRUZ, Calif. (BRAIN) — Ibis Cycles has introduced a new version of its long-standing cyclocross model, the Hakkalügi. The new models is called the Hakka MX and is intended as a cyclocross/gravel road bike that can be run with 700c or 27.5-inch wheels.

The new frame is 150 grams lighter than the Hakkalügi, has 142mm through axle rear dropout spacing, a T47 threaded bottom bracket, internal cable routing, and is internal dropper post compatible. It has fneder mounts and is compatible with 1x or 2x drivetrains.

The frame will fit 700c x 40 mm tires or 27.5x2.

It will be available the last week of November.

The frameset with Enve CX disc fork retails for $1,999. A complete bike with SRAM Rival 1 buildkit is $3,299; a complete bike with Ultegra Di2 is $6,499. 

More information: ibiscycles.com/bikes/hakka_mx.

TAICHUNG, Taiwan (BRAIN)  — It's been a tough year so far for Giant Manufacturing, and its third-quarter results have shown little improvement in its global position as the world's leading bicycle maker.

But despite a 5.3 percent decline in revenue since January, the company is planning no changes in its overall strategy, Giant officials said.

First, the numbers: Overall revenue through the third quarter ended in September was $1.45 billion, compared with $1.46 billion year-to-date in 2016. Profit before taxes was $87.5 million, down 22.2 percent from $106.9 million, while after-tax profits fell 20.3 percent to $63.3 million.

However, Giant has seen a mild upsurge recently in its stock price, trading at $5.27 per share on the Taiwan Stock Exchange. Still, that's off some 22 percent since January, when it was trading at $6.79 per share.

Most of Giant's woes can be pinned to its position in China. "China's market performance remains soft as it continues to be affected by a slow economy and bike share programs," officials said in a statement.

The company has significant investments in retail stores and manufacturing in China, but the nation's fascination with bike share has robbed sales from its retail partners, particularly for midrange to high-end bikes. But help may be on the way as a variety of Chinese cities crackdown on what some refer to as a bubble economy in bike sharing programs.

"Nevertheless, Giant's strategy remains unchanged as we continue to strengthen our mid- to high-level product portfolio, improve distribution channel health, and organize cycling activities and events," the company stated.

Bolstering Giant's confidence in the future has been a strong performance in European markets thanks to the popularity of e-bikes and more favorable currency rates. "E-bikes continue to be the key growing segment in Europe, and this trend has continued through the first half of this year," the company stated.

As for the U.S. market, Giant officials are upbeat about the market, noting that it has experienced healthy growth and its July introduction of new models as well as its expanded Liv line are supporting that growth.

SANTA CLARA, Calif. (BRAIN) — Vintage Electric Bicycles is donating a custom-painted fire engine themed bicycle to North Bay wildfire relief effort. Vintage Electric joins the San Jose Sharks, Bell Helmets, GoPro, Timbuk2 and dozens of other contributors donating items will be auctioned at a charity dinner hosted by Black Sheep Brasserie on Monday.

"As Californians, we're deeply moved by this tragedy that affects so many and hits so close to home," said Vintage Electric founder Andrew Davidge. "The bike we've created allows us to contribute in a way that's both personal and meaningful to all of us – we hope that proceeds from it will provide a small bit of relief to those who've lost everything."

Event proceeds benefit the Direct Impact Fund which are then immediately distributed to individual GoFundMe victim accounts. The organization said 95 percent of the ticket cost and 100 percent of the silent auction proceeds are to be donated directly to fire victims. Individuals wishing to help, but unable to attend the event are encouraged to donate directly to the event's GoFundMe page.

PORTLAND, Ore. (BRAIN) — Urban Arrow, a Dutch cargo bike maker, has appointed Ed Rae of Portland its U.S. agent.

"We see the U.S. rapidly accepting and accommodating use of the bicycle in a much broader context than sport, race and recreation," said Henning Thomas, the company's international sales manager. Urban Arrow bikes are designed from inception as e-bikes, as opposed to electric conversions, the company said. 

Rae is a bike industry veteran who was the North American agent for Brompton for 8 years.

Rae said, "While there may still be controversy about e-bikes for some applications and locales I think we all agree for cargo and transit, such as a parent moving children and a batch of groceries, or a business delivering product, or tradesman appearing at worksite and more, the additional power and range is welcome or even essential."

"The growth we all want and need isn't going to come from yet another wheel size or shock design for off road, nor from another added cog or further 50 gram reduction in road bikes," he said. He said for bike retailing to survive the industry must "bring into stores some of the 90 percent of people who never darken the door of bike shops.

"Imagine if we brought in just 10 or 20 percent more of the population into our IBD's - we'd easily double our volume and current woes would be very diminished. This will require more than a few tweaks - it means re-envisioning the role of the bicycle in our culture. We're still a long way from the embrace of bikes the Dutch have, but some regions here are making great strides in citizen cycling and everyday use of bikes in the broader culture. This is not only great to witness but essential for IBD's to survive in the changed economy we now face, and Urban Arrow is at the forefront of this shift."

Rae can be reached at ed@urbanarrow.com and 503-703-7626. More information at urbanarrow.com.

BOULDER, Colo. (BRAIN) — Martha Roskowski, PeopleForBikes' vice president for local innovation, has left the organization after six years. Roskowski oversaw the launch of three major programs at PeopleForBikes: the Green Lane Project to standardize protected bike lanes across the country; the Big Jump Project to do the same for low-stress biking networks; and PlacesForBikes, which helps cities quickly build better places to ride and measures the benefits.

"Martha brought a unique mix of experience and talent here," said PeopleForBikes' president, Tim Blumenthal. "I think you have to point to the Green Lane Project as a tremendous success — and a quick success. It's remarkable that the concept of protected bike lanes has gone from novelty to almost universal acceptance in what, five or six years?"

Roskowski will be succeeded by Kyle Wagenschutz, who currently manages the Big Jump program.

"We're going to continue to build on the good work and legacy Martha gave us," said Wagenschutz, who credited Roskowski for helping him develop his career when he came to PeopleForBikes after managing a fast-growing bicycle and pedestrian program in Memphis, Tennessee. "Martha has a unique ability to sift through the noise."

PeopleForBikes posted a "public exit interview" with Roskowski on its website. In it. Roskowski said she will be looking for a new position that uses her skills, not necessarily in the bike industry. "For the past 25 years I have gone from job to job in the bike world with no break. So I kind of feel like right now it’s a time to take a breath and talk to people I know, check in with the universe and see what’s a great fit for my skill set and what needs to be done in the world," she said.

AUSTIN, Texas (BRAIN) — The Professional Bicycle Mechanics Association is teaming up with USA Cycling to produce a four-day clinic for aspiring race mechanics.

The class continues the tradition started in the 1980s by national team mechanic Bill Woodul. USA Cycing has produced the class in-house every year for many years. 

"USA Cycling is excited to partner with the PBMA to bring real world skills and experience to aspiring race mechanics," said Chuck Hodge, USAC's VP of operations.

PBMA vice president Jeff Rowe said, "Everyone on the board of directors at the PBMA has attended the clinic, a number of them actually having also been instructors, with our emphasis as the PBMA on education this is a natural fit as advanced mechanics training."

The workshop starts Jan. 24 in Colorado Springs, Colorado. The registration cost of $775 includes ground transportation, meals, lodging, and all clinic materials.

Participants will walk away with new skills for use in and out of the workplace, and after successfully completing a skills and knowledge test, a USA Cycling Category 3 Race Mechanics License.

For more information visit: probma.org/race-mechanic. To register visit: usacycling.org/register/2018-15.

LOS ANGELES, Calif. (BRAIN) — In a legal motion that contains more A-list names than a TMZ episode, Trek Bicycle's lawyers have responded to a trademark infringement case filed by a company that claims to own the rights to the late actor Chris Farley's name. The company, Make Him Smile Inc., objects to the name of a Trek fat bike model, the Farley. Make Him Smile's president is the late Chris Farley's brother, Kevin Farley.

Trek says the suit is groundless and in a motion filed Monday in the U.S. District Court in Los Angeles, asked that it be dismissed at the next scheduled court hearing, on Dec. 18.

Not surprising for a motion filed in L.A. that revolves around the rights of a public figure, the motion cites cases involving well-known names from Marilyn Monroe to Béla Lugosi, Tom Waits to Princess Diana, Vanna White to Bob Marley.

Trek's motion first claims that Make Him Smile has no standing under California law. It notes that in a 1966 case, Lugosi v. Universal Pictures, California's Supreme Court ruled that a dead person has no right to their likeness, and that any rights that existed did not pass to his heirs. The California Legislature later passed a "Right of Publicity" act allowing descendants of dead celebrities to retain rights, but, Trek pointed out, the law only applies to California residents and Chris Farley lived in Illinois at the time of his death in 1997. Trek noted that in 2005, the estate of Marilyn Monroe was unsuccessful in using this law to stop a company from marketing images of Monroe, because the actress, although she died in California, was a legal resident of New York. Trek also notes that Illinois did not have a right of publicity statute at the time of Farley's death, although the state enacted such a law in 1999.

Trek's motion also argues that Make Him Smile cannot claim that the bike company used "a distinctive attribute" of Chris Farley in naming or marketing the fat bike. The federal Lanham Act prohibits misuse of a celebrity's persona to suggest an endorsement. Musician Tom Waits won a landmark case against Frito-Lay, which had used a jingle sung by a Waits imitator in a commercial. "Wheel of Fortune" hostess Vanna White used a similar argument in a case where Samsung used a robot that imitated White in an ad. The company that owns rights to Bob Marley's image was able to shut down a competing T-shirt brand under the same precedent.

But Trek said its bike did not borrow any distinctive attribute of Chris Farley.

"Plaintiff is unable to identify any such distinctive attribute that could support its claim. Plaintiff does not allege that Trek used the name "Chris Farley," his likeness, or anything unique to his career. Plaintiff also does not allege that any attribute of Chris Farley appears on Trek's bikes or in advertising in a manner that suggests Chris Farley's endorsement. That explains why Plaintiff chose not to include any visual representations of Trek's fat bike or promotional material in its complaint," the motion reads.

Trek never used the actor's first name in any marketing. Indeed, the company's lawyers noted that when Trek tried to trademark the bike model name, the United States Patent and Trademark Office rejected the application, saying "the applied-for mark is primarily a surname." Trek did register Farley as a trademark on the USPTO's Supplemental Register, which doesn't afford as much protection.

Trek's final argument is that its use of the Farley model name is protected under "nominative fair use." Under nominative fair use, a company is allowed to reference a trademarked name or brand if there is no implied endorsement or sponsorship and where the trademarked name is being used in a way that is incidental to the description of the product for sale. So Trek claims that it's only using Farley as a descriptor, while the Trek brand on the bike is what the company is really selling. Trek cited a case brought by New Kids on the Block, who objected to a newspaper's use of the band's name in a telephone poll asking which band member was most popular. The court found that the newspaper reasonably used the New Kids name to communicate its message, without suggesting an endorsement. The paper wasn't selling New Kids or suggesting a New Kids' endorsement: it was simply using the trademarked name to communicate its message about the poll.

CAPE TOWN, South Africa (BRAIN) — Protective brand Leatt Corporation saw a 17.8 percent sales increase in its third quarter, which ended Sept. 30, as well as an increase in revenues in the year to date.

For the third quarter, revenues were $5.5 million, with net income of $293,289, or $0.05 per share, as compared to revenues of $4.6 million, with net income of $39,256, or $0.01 per share, for the 2016 third quarter.

For the nine months revenues were $14.8 million, with net income of $344,186, or $0.06 per share, as compared to revenues of $13.2 million, with net income of $140,780, or $0.03 per share, for the same period in 2016.

"We are very pleased by the results of the third quarter and the promise and potential that they represent for our future," said CEO Sean Macdonald. "Our global revenues in the third quarter were up 18% and our EBIDTA increased by 231%. Our new 2018 line of products that started shipping in the third quarter (is) being enthusiastically received by industry media and by our customers worldwide."

Macdonald continued, "We are especially encouraged by the market acceptance of our 2018 apparel line for bicycle and off-road motorcycle use. Apparel sales not only add revenue but are valuable in the promotion and visibility of the Leatt brand moving forward."

He said the company will begin to ship its Leatt 3.5 Neck Brace in the first quarter of 2018. The lightweight neck brace for bicycle use was introduced and won awards at Eurobike and Interbike this year. 

Leatt, based in South Africa, is trade on the OTCQB market under the LEAT symbol. The stock was trading up at $2.10 midday Tuesday. 

MIDDLETON, Wis. (BRAIN) — Wheel & Sprocket has purchased the assets and inventory of Middleton Cycle from its longtime owner, Dan Fass, and will reopen the store as Wheel & Sprocket's ninth location.

The 5,200-square-foot bike shop is located at 6641 University Avenue in Middleton, a suburb of Madison. The store will mark its last day of business on Sunday, Nov. 26 and then undergo an interior and exterior remodel and reopen in the spring. Fass will continue to own the real estate and the two companies have agreed to a five-year lease.

"We're excited to be coming to Middleton," said Noel Kegel, the president of Wheel & Sprocket. "We believe in sharing the power of bicycling with everyone, whatever their ability or motivation. We hope to inspire many more people to ride and to help make Middleton and Greater Madison even more bicycle friendly."

Amelia Kegel, the co-owner of Wheel & Sprocet, said, "We are committed to supporting the local bicycle community by delivering compelling products, through bicycle advocacy, education and partnering with statewide organizations to put on great events."

Fass said, "I had many options of who to do business with in this space. In the end, I felt strongly that it should remain a bicycle store. I've chosen a partner in whom I have confidence, that will make me proud, and most importantly will take care of the bicycle community I've had the pleasure to serve for the past 45 years." Fass said. 

FRYEBURG, Maine (BRAIN) — Downeast Bicycle Specialists is slipping over the border into New Hampshire after 22 years in its location here. The distributor, owned by Hans Johnsen Company since 2013, said the new space is significantly larger and less remote.

"We've outgrown the offices and warehouse that have served us so well in Vacationland for many years and though we hate to say goodbye to our quiet, somewhat remote spot we are excited to have more space (and better internet access!!) in The Granite State," the company said.

The new location is in the Hobbs Street Industrial Park off Route 16 in Conway, New Hampshire.

"It will be a new experience for us being in the center of a busy industrial park, for certain, but we are confident this move enables us to better serve our client base," the company said Tuesday.

The Downeast warehouse crew has begun to teardown and move storage fixtures where possible without interrupting regular operations. The bulk of the move is planned for the first week of December, and the company expects to be up and running full force directly after that.