Ashworth, Inc. Enters 2006 Golf Season with Strong Presentations at USGA Open Championships.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 and golf apparel, marks a banner year in terms of its standing as an authentic golf brand. For the 2006 season Ashworth has extended their contracts and posted a complete sweep as the lead merchandise vendor and merchandise pavilion custom retail fixture designer for the U.S. Open The term U.S. Open is applied to "open" United States national championships in a particular sport, in which anybody, amateur or professional, American or non-American may compete. These include:
USGA Uhren & Schmuck Gassner (Germany) USGA US Global Nanospace Inc. (stock symbol) USGA Undergraduate Student Government Association sanctioned Championships. Ashworth has also extended its contracts with key 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". events. Ashworth has gained significant momentum in the tournament / event business as it continues to grow their presence in the golf industry. These agreements extend relationships originally established in prior years, while others extend beyond the 2006 season. Ashworth is the only merchandise vendor that has achieved such a comprehensive scope of premier vendor agreements from golf's governing bodies and host clubs. Internationally, Ashworth has been chosen by the Royal and Ancient and Royal Liverpool Golf Club as a preferred supplier providing major event merchandise and services for the 2006 Open Championship, held at the Royal Liverpool Golf Club. Ashworth was also selected as the lead vendor and premier apparel supplier for the 2006 Ryder Cup Ryder Cup Biennial team golf event first held in 1927. It was originally played between teams of golfers from the U.S. and Britain; since 1979 players opposing the U.S. have been chosen from all of Europe. The trophy was donated by the British seed merchant Samuel Ryder. matches being held at The K Club in Straffan, Co. Kildare, Ireland. Details of Ashworth's premier and preferred vendor designations includes: 2006 thru 2009 US Opens Lead merchandise vendor and merchandise tent fixture designer and supplier as well as the volunteer uniform supplier for over 5,000 volunteers. 2006 US Senior Open Agreement with Prairie Dunes Golf Club to be the premier apparel vendor and merchandise pavilion designers and provider. As well as the official volunteer uniform provider for over 2,000 volunteers. 2006 US Women's Open A continuation of the unprecedented long-term agreement signed with BET in 2004 giving Ashworth premier vendor status includes: official vendor for merchandise and merchandise tent fixtures and sole supplier of the official volunteer uniforms for over 2,500 volunteers. 2006 Open Championship Preferred supplier under contract with Royal and Ancient and Royal Liverpool Golf Club. For each event covered under these agreements, Ashworth will provide upscale merchandise tent fixtures for merchandise pavilions spanning up to 38,000 square feet, and all official volunteer uniforms for each event. The pavilions feature professionally designed interiors and amenities such as air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. , carpeting, video displays and luxurious wood fixtures to rival the most upscale retail department store environments. By the end of Ashworth's contract with the USGA in 2009, it will have held lead fixture and merchandise vendor status with the USGA for nine years. Randall L Herrel, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ashworth, Inc., commented, "In recent years, Ashworth's tournament division has gained great momentum, with the results that Ashworth has become the brand of choice for major tournaments. Being chosen as the premier preferred vendor for nearly every major tournament in the U.S. and Britain testifies to our heritage as a company authentically rooted in the game of golf. We plan to continue setting the very highest standards in providing vendor services to the various tournaments throughout 2006 season and beyond, both men's and women's events, both 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. and in the United Kingdom." 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) 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(R) and
Kudzu(R) brands' sales into the Company's three current
distribution channels. The Game(R) 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 Noun 1. sporting goods - sports equipment sold as a commoditycommodity, 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(R) brand is one of the leading headwear brands in the College/Bookstore distribution channel. The Kudzu(R) 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. 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. The Company undertakes no responsibility to publicly release the results of any revisions to these forward-looking statements that may arise from changing circumstances or unanticipated events. 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. , the potential inadequacy of booked reserves, the timely completion and successful operation of the new distribution facility in Oceanside, CA, 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, 2003 and quarterly reports on Form 10-Q Form 10-Q See 10-Q. filed thereafter. |
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