LEATT CORPORATION ANNOUNCES FIRST QUARTER FY2010 RESULTS
May 14, 2010

CAPE TOWN, SA: Leatt Corporation, a Nevada corporation (Symbol: LEAT.PK) (Company), and the developer of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced financial results for its fiscal 2010 first quarter ended March 31, 2010. The Company posted revenue of $ 2,953,380 and a net quarterly loss of $ 186,332. These results compare to revenue of $ 4,345,323 and net quarterly profit of $ 502,862 in the year-ago quarter. A summary of financial results is set forth below.

"The worldwide economic recession continues to negatively affect our revenues. We have reacted internally by refocusing our sales, marketing and product development efforts. In addition, we have embarked on a swift restructuring process that we hope will improve efficiency and results." said acting Chief Executive Officer Sean Macdonald.

Leatt Corporation: Since 2006, we have produced and sold worldwide a line of Neck Brace Systems for adults and children that are designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck) among motorcycle, ATV, Trikes and other motor vehicles. Our product line is set forth at our sales/product URL: http://www.leatt-brace.com. A financial summary of the Q1 FY2010 results appears below, which summary is qualified in its entirety by reference to the Q1 FY2010 financial results posted on http://www.leatt-corp.com.

The summary below is qualified in its entirety by reference to our posted financial statements and footnotes thereto at the aforesaid URL. One should not rely on the following summary as a complete presentation of financial results and condition.

The Summarized Consolidated Statements of Operations (unaudited) for the periods ending March 31, 2010 and 2009 are:

CONSOLIDATED STATEMENT OF OPERATIONS
       

 

 Three Moths Ended March 31      
  2010
Unaudited 		  2009
Unaudited 		 
         
 Revenues  $ 2, 953, 380  $ 4, 345, 323  
 Cost of Revenues 1, 151, 463 1, 376, 758  
         

 Gross Profit

 1, 801, 917 2, 968, 565  
 Operating Expenses 1, 987, 507 2, 176, 992  
         
 Income (Loss) from Operations (185, 590) 791, 573  
 Other Income (Expense) 1,658 15, 793  
         
 Income (Loss) Before Income Taxes (183, 932) 807, 366  
 Income Taxes 2, 400 304, 504  
 Net Income / (Loss) Available
 to Common Shareholders		 $ (186, 332) $ 502, 862  


NOTICE:

This press release may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors; on consumer and business buying decisions with respect to the Company’s products; the ability of the Company to deliver to the marketplace and stimulate customer demand for products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need from time to time to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; product quality control issues; the absence of a strong e-commerce website for products; the continued service and availability of key executives and employees; unfavorable results of legal proceedings, especially personal injury or product liability lawsuits or intellectual property rights lawsuits; and the Company’s dependency on the performance of distributors and other resellers of the Company’s products. More information on potential factors that could affect the Company’s financial results is included from time to time in the Company’s public disclosures at http:www.leatt-corp.com. The Company’s common stock quotes on The Pink OTC Market and said stock is a “penny stock” under SEC rules. As such, any investment in the common stock is highly risky. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates, unless applicable laws require otherwise. Neither any URL’s referenced herein nor their contents are incorporated herein or made a part of this press release.


Investor Relations Contact: 

PW Richter, Richmond, Virginia, USA
Tel: 804 644 2182
Fax: 804 644 2181
Email: prosage@comcast.net
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P.W. RICHTER, PLC
3901 Dominion Townes Circle
Richmond, VA 23223
(804) 644-2182
prosage@comcast.net
 
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Shareholder communication procedure:
The Board of Directors has established a procedure that enables stockholders to communicate in writing with members of the Board. Any such communication should be addressed to Paul Richter at 3901 Dominion Townes Circle, Richmond, VA 23223, Fax: (804) 644-2181; email: prosage@comcast.net. Any such communication must state, in a conspicuous manner, that it is intended for distribution to the entire Board of Directors. Under the procedures established by the Board, upon the Chairman of the Board's receipt of such communication, the Company's Secretary will send a copy of such communication to each member of the Board, identifying it as a communication received from a shareholder. Absent unusual circumstances, at the next regularly scheduled meeting of the Board held more than two days after such communication has been distributed, the Board will consider the substance of any such communication.