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Branded products revenues drive Ashworth's Q3 sales
02 Sep '05
5 min read
Net revenue from the international segment increased 21.2 percent to $26.0 million for the first nine months of fiscal 2005 from $21.4 million for the same period of fiscal 2004.
Click here to see the whole report:
Consolidated net income for the nine-month period ended July 31, 2005 was $1.5 million or $0.11 per diluted share compared to consolidated net income of $6.3 million or $0.46 per diluted share for the same period of fiscal 2004.
For the nine-month period ended July 31, 2004, net income was impacted by the aforementioned pre-tax charge related to the settlement of a class action lawsuit and the one-time gain on sale of fixed assets recorded in the second quarter of fiscal 2004. Excluding these two items, the Company would have reported consolidated net income of $7.2 million or $0.52 per diluted share for the nine-month period ended July 31, 2004.
Embroidery and Distribution Center (EDC):
Inefficiencies at the Company's EDC accounted for approximately $1.0 million of the decrease in gross margin. Management believes that both the Company and its vendors were too aggressive when the original implementation plan was put in place.
During the implementation of the new EDC, the Company has experienced a longer than anticipated learning curve and the expected operational efficiencies have not yet been fully realized. Most of the difficulties were related to bringing on-line the automation programs, as well as the installation of the mechanical system and slower than anticipated improvements in operator efficiency.
Click here to see the whole report:
Consolidated net income for the nine-month period ended July 31, 2005 was $1.5 million or $0.11 per diluted share compared to consolidated net income of $6.3 million or $0.46 per diluted share for the same period of fiscal 2004.
For the nine-month period ended July 31, 2004, net income was impacted by the aforementioned pre-tax charge related to the settlement of a class action lawsuit and the one-time gain on sale of fixed assets recorded in the second quarter of fiscal 2004. Excluding these two items, the Company would have reported consolidated net income of $7.2 million or $0.52 per diluted share for the nine-month period ended July 31, 2004.
Embroidery and Distribution Center (EDC):
Inefficiencies at the Company's EDC accounted for approximately $1.0 million of the decrease in gross margin. Management believes that both the Company and its vendors were too aggressive when the original implementation plan was put in place.
During the implementation of the new EDC, the Company has experienced a longer than anticipated learning curve and the expected operational efficiencies have not yet been fully realized. Most of the difficulties were related to bringing on-line the automation programs, as well as the installation of the mechanical system and slower than anticipated improvements in operator efficiency.
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