Interviews
News Flash
Ashworth reports record revenues up 18% for Q1
27 May '05
7 min read
terence tsang, executive vice president and chief financial officer, commented on the company's financial position at the end of the quarter: "dsos were 72 days compared to 79 days at the end of the second quarter last year. inventory has increased to $53.9 million compared to $43.5 million at the end of the second quarter last year.
this increase is partly due to the addition of gekko, and partly due to the planned earlier receipt of basics inventory to mitigate the expected logistics bottleneck resulting from lifting of some quotas on chinese goods by the u.s. we believe our financial condition continues to be strong. as of april 30, 2005, our debt, net of cash, is $42.5 million and shareholder equity is $107.8 million."
the company also revised its guidance for the full fiscal year ended october 31, 2005. revenues are expected to be between $207 and $212 million compared to its previous guidance of $207 to $215 million, and earnings per share are expected to be in the range of $0.72 to $0.76 compared to previous guidance range to $0.76 to $0.82.
summing up, mr. herrel continued, "the first half of this fiscal year proved more challenging than we expected, mainly due to the weather and the start up of our new u.s. embroidery and distribution center, but we remain optimistic about the remainder of the year and the prospects for 2006. overall, we expect to meet the challenges set for us this year and emerge stronger. we are encouraged wected, mainly due to the weather and the start up of our new u.s. embroidery and distribution center, but we remain optimistic about the remainder of the year and the prospects for 2006. overall, we expect to meet the challenges set for us this year and emerge stronger. we are encouraged with the success of our diversified business model as five of our six distribution channels continued to grow and we continue to be excited about the cross-selling potential of our various distribution channels."
this increase is partly due to the addition of gekko, and partly due to the planned earlier receipt of basics inventory to mitigate the expected logistics bottleneck resulting from lifting of some quotas on chinese goods by the u.s. we believe our financial condition continues to be strong. as of april 30, 2005, our debt, net of cash, is $42.5 million and shareholder equity is $107.8 million."
the company also revised its guidance for the full fiscal year ended october 31, 2005. revenues are expected to be between $207 and $212 million compared to its previous guidance of $207 to $215 million, and earnings per share are expected to be in the range of $0.72 to $0.76 compared to previous guidance range to $0.76 to $0.82.
summing up, mr. herrel continued, "the first half of this fiscal year proved more challenging than we expected, mainly due to the weather and the start up of our new u.s. embroidery and distribution center, but we remain optimistic about the remainder of the year and the prospects for 2006. overall, we expect to meet the challenges set for us this year and emerge stronger. we are encouraged wected, mainly due to the weather and the start up of our new u.s. embroidery and distribution center, but we remain optimistic about the remainder of the year and the prospects for 2006. overall, we expect to meet the challenges set for us this year and emerge stronger. we are encouraged with the success of our diversified business model as five of our six distribution channels continued to grow and we continue to be excited about the cross-selling potential of our various distribution channels."
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
