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Ashworth reports record revenues up 18% for Q1
27 May '05
7 min read
net income in the second quarter was primarily impacted by sluggish golf sales and higher than anticipated operating expenses associated with the new embroidery and distribution center.
driving the overall 4% increase in net revenues from ashworth and callaway golf branded goods were increases in revenues from the company's international business, up 25% from the same quarter last year, the company's retail distribution channel, up 15% compared to the second quarter last year, its corporate distribution channel, up 6% from last year, and revenues from company-owned outlet stores, up 11%.
these increases were offset by a 6% decrease in net revenues from the domestic golf distribution channel, the company's largest distribution channel. the company attributed the decrease in domestic golf-related net revenues to poor weather and the resulting decline in rounds played.
the strength of the company's brands limited the effect of the weakness in u.s. rounds played. revenues from ashworth-branded goods overall increased by 3% for the quarter to $42.6 million from $41.4 million in the same quarter in 2004, and revenues from callaway golf apparel branded goods increased by 6% to $14.1 million from $13.3 million in the second quarter last year.
randall l. herrel, sr., chairman and chief executive officer, stated, "we are pleased to have maintained the forward momentum in our revenues despite sluggish 'on course' sales due to the weather.e quarter to $42.6 million from $41.4 million in the same quarter in 2004, and revenues from callaway golf apparel branded goods increased by 6% to $14.1 million from $13.3 million in the second quarter last year.
driving the overall 4% increase in net revenues from ashworth and callaway golf branded goods were increases in revenues from the company's international business, up 25% from the same quarter last year, the company's retail distribution channel, up 15% compared to the second quarter last year, its corporate distribution channel, up 6% from last year, and revenues from company-owned outlet stores, up 11%.
these increases were offset by a 6% decrease in net revenues from the domestic golf distribution channel, the company's largest distribution channel. the company attributed the decrease in domestic golf-related net revenues to poor weather and the resulting decline in rounds played.
the strength of the company's brands limited the effect of the weakness in u.s. rounds played. revenues from ashworth-branded goods overall increased by 3% for the quarter to $42.6 million from $41.4 million in the same quarter in 2004, and revenues from callaway golf apparel branded goods increased by 6% to $14.1 million from $13.3 million in the second quarter last year.
randall l. herrel, sr., chairman and chief executive officer, stated, "we are pleased to have maintained the forward momentum in our revenues despite sluggish 'on course' sales due to the weather.e quarter to $42.6 million from $41.4 million in the same quarter in 2004, and revenues from callaway golf apparel branded goods increased by 6% to $14.1 million from $13.3 million in the second quarter last year.
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