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Golfers choose Ashworth time and time again

Two recent surveys show many golfers don Ashworth clothing

Ashworth Inc., a Carlsbad-based golf lifestyle sportswear company, has been ranked as the top golf brand in shirt usage among golf consumers. This is the sixth consecutive year that Ashworth has been ranked No. 1 by the Darrell Survey.

Conducted annually, the survey ranked Ashworth (Nasdaq: ASHW) with the largest usage among golfers with a 12.6 percent market share -- nearly double that of the next closest brand.

"We believe our market share is a testament to our brand strength and our ability to provide consumers with functional and performance sportswear for use on course and yet fashionable for off-course wear as well," said Randall L. Herrel, Ashworth chairman and CEO. "Our leading market share among consumers ... confirms our brand building strategies are working."

In addition to this honor, the 2000 Golf World Subscriber Study named Ashworth the top brand of golf apparel currently owned by subscribers of Golf World.

Specifically, this study found that 58 percent of the magazine's subscribers own Ashworth, and 50 percent of subscribers have purchased the brand within the last 12 months.

"It is an honor for Ashworth and one which is particularly gratifying as it is based on the feedback of our consumers," Herrel said.

"Also noteworthy, the survey indicated that over 60 percent of the respondents wear their golf apparel on other occasions, thereby reinforcing the fact, we believe, that Ashworth and other brands have a strong lifestyle appeal."

According to the company's financial results for the first quarter of 2002, consolidated net revenue for the first quarter 2002 was $19.8 million as compared to $27.7 million for the first quarter of 2001. The company reported a first quarter net loss of $966,000 or $0.07 per diluted share compared to consolidated net income of $381,000 or $0.03 per diluted share in the same quarter of the prior year. Net revenue for the domestic segment decreased 27 percent to $17.6 million from $24.1 million in the same period of the prior year. Net revenue for the international segment decreased almost 40 percent to $2.2 million from $3.6 million in the same period of the prior year.

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