Home / Knowledge / News / Company / Ashworth reports record revenues up 18% for Q1

Ashworth reports record revenues up 18% for Q1

27
May '05
leading designer of golf-inspired lifestyle sportswear ashworth inc announced financial results for the second quarter ended april 30, 2005.during the quarter, the company experienced growth in revenues from its international golf channel, retail distribution channel, corporate distribution channel, its gekko brands headwear lines and its company-owned outlet stores.

- company grows in five of its six channels
- weather impacts company's core domestic golf distribution channel
- early success in cross channel selling from gekko acquisition

consolidated net revenue for the quarter ended april 30, 2005 rose 18% to $64.7 million compared to $54.7 million in the same quarter last year. revenues from the company's acquisition of gekko's brands provided 14% of the overall increase while net revenues from the company's ashworth and callaway golf apparel brands were collectively up 4% over the previous year.

net income for the second quarter was $4.8 million or $0.34 per diluted share compared to $5.7 million or $0.41 per diluted share for the same quarter last year. in february 2004, the company sold its existing distribution center facility located in carlsbad, california and recorded an after tax-gain on disposal of fixed assets of $1.0 million. without the gain on sale of fixed assets, the company would have reported consolidated net income of $4.7 million or $0.34 per diluted share for its second quarter fiscal 2004.

the company believes that excluding the effect of the gain on sale of fixed assets in the second quarter of fiscal 2004 provides useful information to investors in analyzing the impact the non-operational transaction had relative to the company's performance in fiscal 2005 as compared to fiscal 2004; and, the adjusted consolidated net income measure more closely reflects consolidated net income based on the company's operations.


Interviews View All

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search