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Ashworth, Inc. Announces a One Week Delay in Earnings Release and Reaffirms Previous Fourth Quarter Fiscal 2005 Guidance.


CARLSBAD, Calif. -- Ashworth, Inc. (Nasdaq:ASHW), a leading designer of golf-inspired lifestyle sportswear, today announced that it will delay its detailed earnings release by one week. The Company reiterated the guidance issued on November 29, 2005. Net revenues for the fourth quarter of 2005 are expected to grow approximately 15% to approximately $55 million, up from $48 million in net revenues for the same period a year ago. The Company anticipates a loss of approximately $2.1 million to $2.4 million or $0.15 to $0.17 per diluted di·lute  
tr.v. di·lut·ed, di·lut·ing, di·lutes
1. To make thinner or less concentrated by adding a liquid such as water.

2. To lessen the force, strength, purity, or brilliance of, especially by admixture.
 share for the fourth quarter ended October 31, 2005.

The Company reported that the focus on implementation requirements for its first year of Sarbanes-Oxley Section 404 compliance caused the delay in its independent auditor's completion of the year-end audit. The Company expects to provide the detailed report on Thursday, December 22, 2005 shortly following the close of the market.

The Company also will file its 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.
 as scheduled on or before January 17, 2006.

Conference Call and Webcast

Ashworth management will conduct a conference call and webcast providing details on its fourth quarter results and outlook for fiscal 2006 on Thursday, December 22, 2005, at 4:30 p.m. ET (1:30 p.m. PT). The call will be broadcast live over the Internet at www.ashworthinc.com. Randall Herrel, Chairman and Chief Executive Officer, and Peter Case, Executive Vice President and Chief Financial Officer, will host the call.

An online archive of the broadcast will be available after the completion of the call and will be accessible on the Company's website until January 6, 2005. Additionally, a telephone replay will be accessible for 48 hours by calling 1-877-519-4471 or 1-973-341-3080 for international callers; enter conference ID 6777180.

About Ashworth, Inc.

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 Noun 1. specialty store - a store that sells only one kind of merchandise
shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod"
 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) 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 licensee n. a person given a license by government or under private agreement. (See: license, licensor)


LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n.
 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 (kd`z), plant of the family Leguminosae (pulse family), native to Japan. (R) brands. This strategic acquisition provides opportunity for additional growth in three new, 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 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". , resorts, entertainment complexes and sporting goods Noun 1. sporting goods - sports equipment sold as a commodity
commodity, trade good, good - articles of commerce

sports equipment - equipment needed to participate in a particular sport
 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 forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 

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 integration of the Company's recent acquisition, 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, the successful operation of the new distribution facility in Oceanside, CA, and other risks described in Ashworth, Inc.'s SEC reports, including the report on Form 10-K for the year ended October 31, 2004 and Form 10-Q's filed thereafter. The Company undertakes no obligation to publicly release the results of any revision of the forward-looking statements.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Dec 13, 2005
Words:735
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