Ashworth, Inc. Announces EZ-TECH, An Exciting New Breakthrough in Fabric Innovation; The Next Generation in 100% Cotton.Business Editors CARLSBAD, Calif.--(BUSINESS WIRE)--Oct. 30, 2002 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 sportswear and golf apparel, today announced its launch of a new fabric innovation to be used in golf inspired sportswear: EZ-TECH(TM), redefining the union between EZ care and TECHnology. This treatment, exclusive to 100% cotton, is initially being used on selected garments in the Ashworth Collection(TM) and makes these products the "next generation" with respect to performance, comfort and care. EZ-TECH excels in its ability to combine the inherent attributes of 100% cotton (comfortable and breathable breath·a·ble adj. 1. Suitable or pleasant for breathing: breathable air. 2. Permitting air to pass through: a breathable fabric. ) with all the performance technology (lightweight, moisture wicking wicking Infectious disease Enhanced penetration of liquids, and small pathogens, through minute holes in latex membranes–eg, surgical gloves, which may develop when washed with surfactants, an effect that militates against the re-use of certain materials and ease of care) available in today's action sports fabrications. This new fabric treatment enables the garment to resist shrinking, pilling, fading and wrinkles wrinkles See bells and whistles. while remaining breathable. EZ-TECH also maintains a very soft hand throughout the life of the garment. Playing in a recent tournament, Ashworth 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". Pro, Stuart Appleby Stuart Appleby (born May 1 1971) is an Australian golfer. He was born in Cohuna, Victoria. Career summary Appleby is from Cohuna in rural northern Victoria. Appleby practiced by hitting balls from paddock to paddock. , experienced the feel of EZ-TECH and had this to say, "Great look and fit ... cotton is very comfortable. EZ-TECH is lightweight and non-restrictive making it easy to play in." Current performance fabrications dedicate a portion of the fiber content to treated polyester. While improving the ease of care and moisture wicking properties of these garments, the polyester inhibits the breathability, causes pilling and is significantly less desirable in warmer/humid climates. EZ-TECH will play an integral part in the exciting new wave of innovation due out from Ashworth beginning with the Spring/Summer 2003 line. The launch of this product innovation will commence in November in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . This "next generation" will be launched in approximately 1500 doors in the Company's core market and has already achieved $1 million in pre-book sales to date. Marketing support of the EZ-TECH line will include special hang tags, point of purchase and selected consumer advertising. Ashworth, Inc. is a designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts and upscale department and specialty stores. Ashworth products include four main brand extensions. Ashworth Collection(TM) is a range of upscale sportswear designed to be worn on and off course. Ashworth Authentics(TM) showcases the most popular items from the Ashworth line. Ashworth Weather Systems(R) utilizes technology to create a balance between fashion and function in any climatic condition. Ashworth 7(TM) addresses the demand for business casual sportswear. 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. To learn more, please visit our Web site at www.ashworthinc.com. This press release contains forward-looking statements related to the Company's market position, finances, operating results, marketing plans and strategies. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the timely development and acceptance of new products, as well as strategic alliances, 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. , potential inadequacy of booked reserves and other risks described in Ashworth, Inc.'s SEC reports, including the 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, 2001 and Form 10-Q's filed thereafter. |
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