Ashworth’s domestic revenues fall - sportstextiles: Lea SportsTextiles

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Ashworth’s domestic revenues fall

12/01/2007

California-based designer of men and women's golf-inspired sportswear Ashworth, Inc. has announced a fall of 9.3% in consolidated net revenue for the fourth quarter, ended October 31. Sales fell to $50.2 million from the $55.3 million reported for the same quarter in 2005. Net domestic revenue decreased 13.5% to $41 million, down from $47.4 million for the equivalent previous year period, whilst net international revenue increased 15.7% to $9.2 million, up from $7.9 million. Consolidated net loss for the fourth quarter was $4.4 million, compared with $2.2 million the year before. Revenues from Ashworth branded products decreased 15.7% to $26.6 million, down from $31.5 million in the same quarter in 2005; however, revenues from Callaway Golf apparel branded products increased 2.3% to $12 million.

For the full fiscal year, consolidated net revenue increased 2.4% to $209.6 million compared with $204.8 million in 2005. Net domestic revenue remained essentially flat and net international revenue increased 12.8% to $38.5 million. Consolidated net income was $1 million compared with a consolidated net loss of $0.7 million for 2005.


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