Ashworth, Inc. Announces 2007 PGA Show Plans, and In-Store Visual Initiative.CARLSBAD, Calif. -- Ashworth, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASHW), a leading designer of golf-inspired lifestyle sportswear, today announced plans to enhance its participation in the 2007 PGA (1) (Professional Graphics Adapter) An early IBM PC display standard for 3D processing with 640x480x256 resolution. It was not widely used. (2) (Programmable Gate Array) See gate array and FPGA. Show & Convention, with new exhibits in the apparel hall for both Ashworth[R] and Callaway Golf apparel. Ashworth also unveiled plans to launch its new 2007 in-store visual initiative that is expected to bring a renewed vitality to many of its premiere accounts throughout the country. Ashworth has been a strong supporter and participant in the PGA Show for 20 years and recently renewed the Company's commitment to the future success of the show by announcing the design and construction of two new exhibit booths for both Ashworth and Callaway Golf apparel brands that will premiere in the January 2007 PGA Show. "As we enter our 20th year as golf's leader in apparel, our commitment to the PGA Show and the PGA Professional is a very important area of support for the golf industry. As the original global golf apparel brand that was founded on the formation of strong partnerships with the PGA Professionals and the golf courses throughout the country, it is imperative that we show the same support and maintain our leadership role by bringing a strong presence to the show in 2007 and beyond," commented Jim Dougherty
James E. (Jim) Dougherty (born March 8, 1968 in Brentwood, New York) is a former middle reliever in Major League Baseball who played between 1995 and 1999 for the Houston Astros (1995-1996), , Sr. Director of Sales for Ashworth. Another key initiative in 2007 will be to enhance and broaden support and presence at the shop level. An exciting new in-store visual initiative has been planned for 2007 with two accounts already underway with completion expected by the end of 2006. "We are very excited about the opportunity to better assist our golf partners by increasing sales in their shops through a much stronger in-store presentation of the Ashworth and Callaway Golf apparel brands," commented Ashworth's newly appointed President, Gary Sims. The in-store visual initiative is designed to provide state of the art in-store enhancements to the majority of our premiere partners over the course of the next 2 years. The process has already begun at the PGA West The PGA West Stadium Course located in La Quinta, California was designed by Pete Dye has been called the "Western Home of Golf." The course was designed to be Dye's answer to the TPC at Sawgrass. Stadium Course in La Quinta, CA. and The PGA Tour The PGA Tour is an organization that operates the USA's main professional golf tours. It is headquartered in Ponte Vedra Beach, Florida, USA. Its name is officially rendered in all caps as “PGA TOUR". Stop in St. Augustine, FL. Five additional accounts; Carl's Golfland in Bloomfield, MI.; Point O' Woods CC in Benton Harbor, MI.; The Courses at Andrews Air Force Base Andrews Air Force Base, U.S. military installation, 4,279 acres (1,732 hectares), central Md., est. 1943. It is the chief military airport of Washington, D.C., as well as the headquarters for the air force's high-priority airlift command. in Maryland; Doral in Miami, FL.; Kingwood CC in Kingwood, TX. are all scheduled for newly designed Ashworth shop installs beginning as early as January, 2007. Ashworth's President, Gary Sims, noted in closing, "This initiative represents a major commitment to our core business to insure the future success of our brands within our key accounts throughout the U.S. Our entire team is focused towards deepening its commitment to the PGA Golf Professional and the core Golf channel. Our increased involvement with the PGA Show as well as our initiative to improve our support at point of sale are the just beginning of a series of moves towards this commitment. Additionally, we are repositioning our Sales Management team in the Golf Channel to provide more attention and service to the channel. Peter Holmberg will now serve as EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition of Golf Sales for both Ashworth and Callaway Golf apparel. Reporting to Peter will be Jim Dougherty as Sr. Director of Sales for Ashworth, Tim Urlocker as Director of Sales for Callaway Golf apparel, and Kim Weiss as Director of Sales National Accounts for both brands." Ashworth, Inc. is a designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts, upscale department and specialty stores and to corporate customers. Ashworth products include three main brand extensions. Ashworth Collection(TM) is a range of upscale sportswear designed to be worn on and off course. Ashworth Authentics(TM) showcases popular items from the Ashworth line. Ashworth Weather Systems([R]) and AWS AWS Amazon Web Services AWS American Welding Society AWS Advanced Warning System AWS Advanced Wireless Services AWS Automatic Weather Station AWS Alien Workshop (skateboard company) AWS Austria Wirtschaftsservice GmbH (TM) utilizes technology to create a balance between fashion and function in a variety of climatic conditions. Callaway Golf is a trademark of Callaway Golf Company Callaway Golf Company is an American golf company based in Carlsbad, California. They manufacture woods, irons, wedges, putters and golf balls and license its name for apparel, footwear, timepieces and accessories. . Ashworth, Inc., 2765 Loker Avenue West, Carlsbad, CA 92008 is an Official Licensee of Callaway Golf Company. In July 2004, Ashworth, Inc. acquired Gekko Brands, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Gekko"), a leading designer, producer and distributor of headwear head·wear n. A hat or other covering for the head. and apparel under The Game[R] and Kudzu kudzu (k d`z ), plant of the family Leguminosae (pulse family), native to Japan. [R] brands. This strategic acquisition provides opportunity for additional growth in new three, quality channels of distribution for the Ashworth[R] and Callaway Golf apparel brands as well as further growth from The Game and Kudzu brands' sales into the Company's three traditional distribution channels. The Game brand products are marketed primarily under licenses to over 1,000 colleges and universities, as well as to the PGA TOUR, resorts, entertainment complexes and sporting goods dealers that serve the high school and college markets. The Game brand is one of the leading headwear brands in the College/Bookstore distribution channel. The Kudzu brand products are sold into the NASCAR/racing markets and through outdoor sports distribution channels, including fishing and hunting. To learn more, please visit our Web site at www.ashworthinc.com. Forward-Looking Statements This press release contains forward-looking statements related to the Company's market position, finances, operating results, marketing and business plans and strategies within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may contain the words "believes," "anticipates," "expects," "predicts," "estimates," "projects," "will be," "will continue," "will likely result," or other similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, changed circumstances or unanticipated events unless required by law. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the uncertainties associated with implementing a successful transition in executive leadership, the evaluation of strategic alternatives that may be presented, timely development and acceptance of new products, as well as strategic alliances, the integration of the Company's acquisition of Gekko Brands, LLC, the impact of competitive products and pricing, the success of the Callaway Golf apparel product line, the preliminary nature of bookings information, the ongoing risk of excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. , the potential inadequacy of booked reserves, the successful operation of the new distribution facility in Oceanside, CA, the successful implementation of the Company's ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system, and other risks described in Ashworth, Inc.'s SEC reports, including the annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October 31, 2005, quarterly reports on Form 10-Q Form 10-Q See 10-Q. filed thereafter and amendments to any of the foregoing reports, including the Form 10-K/A for the year ended October 31, 2005. |
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