Ashworth enjoys revenue increase in Q3

08/09/2006

Golf-inspired lifestyle sportswear designer Ashworth, Inc. has posted improved financial results for its third quarter and first nine months ended July 31.

Consolidated net revenue for the third quarter increased 9.3% to $52.8 million compared with $48.3 million for the third quarter of 2005. Net income was $0.7 million compared with a net loss of $3.4 million for the same quarter of the prior year.

Net revenue for the domestic segment increased 7% to $42.8 million for the third quarter from $40 million and revenue from the international segment increased 20.8% to $10 million from $8.3 million for the same period in 2005.

Consolidated net revenue for the first nine months ended July 31 increased by 6.7% to $159.4 million compared with $149.5 million for the first nine months of 2005. Net income of $5.3 million for the nine-month period compared with $1.5 million for the same period of the prior year.

Net revenue for the domestic segment increased 5.1% to $130.4 million from $124 million for the nine-month period in 2005. Net revenue from the international segment increased 14.1% to $29 million.