Q1 revenues fall at Ashworth
US-based golf apparel and golf-inspired lifestyle sportswear designer Ashworth, Inc. has reported a decline in revenues for its second quarter ended April 30.
Consolidated net revenue for the quarter decreased 9.3% to $59.9 million compared with $66 million for the second quarter of 2006. Net loss totalled $2.5 million compared with net income of $4.7 million for the prior-year period. This includes a tax charge of $2.9 million.
Net revenue for the domestic segment decreased 10.7% to $47.2 million from $52.8 million in the 2006 quarter, while revenue from the international segment decreased 3.7% to $12.7 million from $13.2 million.
Ashworth’s three leading brands are the Ashworth Collection, a range of high-end sportswear designed to be worn on and off-course, Ashworth Authentics and Ashworth Weather Systems, a technical performance line. The company is also an official apparel licensee of Callaway Golf Company.
