Ashworth, Inc. Signs Ryder Cup Agreement; Two Great Traditions Join Forces Once Again; Ashworth Named Lead Vendor to 2006 Ryder Cup Merchandise Pavilion; Launches Unique Ryder Cup Clothing Line.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 that it has signed an agreement with 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. Ltd. to become the Lead Vendor, as well as Official Licensee, at the September 2006 Ryder Cup to be held at the K Club in Ireland. This agreement extends the 14-year relationship between Ashworth, the market leading clothing brand in golf, and The Ryder Cup, the world's most celebrated golf event. Grahame Jenkins, Managing Director at Ashworth Europe, commented, "We are delighted to be involved with the prestigious Ryder Cup event once again. Ashworth has now had a continuous 14-year relationship with The Ryder Cup on both sides of the Atlantic, and has previously been The Ryder Cup's Lead Vendor at the Belfry belfry Bell tower, either freestanding or attached to another structure. More particularly it refers to the room, usually at the top of such a tower, where the bells and their supporting timberwork are hung. in 2002 and at Oakland Hills Oakland Hills is a common informal name for that section of the Berkeley Hills which extends along the eastern side of Oakland, California. In recent decades, it has become the more common popular term although it remains "officially" incorrect among geographers and gazetteers. , Detroit in 2004, "This is the perfect opportunity for Ashworth to showcase our industry-leading products, including our unique Ryder Cup clothing line, to one of the largest golf audiences at one of the most important golf events of 2006." As part of the Lead Vendor agreement, Ashworth will have the major presence in The 2006 Ryder Cup Merchandising Tent, making it the most prominent apparel company at this year's event. In addition to being named the Ryder Cup's Lead Vendor, Ashworth is also one of a select few companies to hold a License Agreement for the 2006 Ryder Cup. This entitles the Company to manufacture and sell Ryder Cup merchandise in 26 countries across Ashworth's European distribution network. As part of this agreement, Ashworth has designed a specific Ryder Cup clothing line. The new designs are based on the striking blue and gold colors of the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community flag, and each garment will feature The Ryder Cup logo. Ashworth's Ryder Cup clothing range will be available throughout Europe, and at the event itself. In connection with this agreement, Ashworth will also showcase its men's and women's Callaway Golf apparel lines in the 2006 Ryder Cup Merchandising Tent. In addition to the success in Europe, there exists opportunities within the U.S. for additional sales of Ashworth apparel bearing the official Ryder Cup logo. As a licensed vendor of the Professional Golfers Association Professional Golfers' Association, (with or without the apostrophe), is the usual term for a professional association in men's golf. It is often abbreviated to PGA. There are several PGAs around the world, including: (2) (Programmable Gate Array) See gate array and FPGA. of America), Ashworth is entitled to the use of the Ryder Cup Matches name and logo and as such will design, manufacture and distribute Ashworth product through the brand's vast network of accounts. 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, "For almost 20 years, Ashworth has had the privilege of being selected as an apparel sponsor for many of golf's major events. Our commitment to the PGA of America has historically been one of reflecting their dedication to quality and excellence in the products we make. The Ryder Cup presents a particularly exciting opportunity for us as it allows the Ashworth team to share in the competitive spirit between the U.S. and Europe equally as we are well represented on both sides of the pond." 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 and Kudzu brands' sales into the Company's three current 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 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. 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. 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 identification and evaluation of strategic alternatives, the actual or threatened proxy solicitation by third parties, 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, 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. |
|
||||||||||||||||

d`z
)
Printer friendly
Cite/link
Email
Feedback
Reader Opinion