Ashworth Announces Signing of a Major Champion Golfer.Business/Sports Editors CARLSBAD, Calif.--(BUSINESS WIRE)--Dec. 2, 2002 Ashworth Inc. (Nasdaq:ASHW), a leading designer of sportswear and golf apparel, today announced it has expanded the Ashworth team of 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". professionals with the addition of Rich Beem Richard Michael Beem (born August 24, 1970) is an American golfer who plays on the PGA Tour. Beem was born in Phoenix, Arizona, grew up in El Paso, Texas, and played golf at New Mexico State University in Las Cruces, New Mexico. He turned professional in 1994. . The signing of Rich Beem, three-time winner on the PGA Tour including back-to-back wins in 2002 with The International and The PGA Championship The PGA Championship (often referred to as the U.S. PGA Championship outside of North America) is an annual golf tournament conducted by the Professional Golfers Association of America as part of the PGA Tour. , enhances and strengthens Ashworth's presence on the PGA Tour. Rich Beem is clearly one of the most sought-after players on tour this year. As the everyday man's golfer, Rich's rise to popularity is attributed to his work ethic work ethic n. A set of values based on the moral virtues of hard work and diligence. work ethic Noun a belief in the moral value of work and accessibility; the Beemer's highly publicized pub·li·cize tr.v. pub·li·cized, pub·li·ciz·ing, pub·li·ciz·es To give publicity to. Adj. 1. publicized - made known; especially made widely known publicised hard work and dedication for achieving his goals are legendary with his colorful and aggressive style of play. "I am pleased to announce Rich Beem joining the Ashworth Team," commented Randall L. Herrel, chairman and chief executive officer. "The Ashworth brand has a long history as the leading golf inspired sportswear brand. By partnering with a world-renowned championship golfer, we continue building on that heritage and authenticity. The Ashworth sportswear line combines fashion with function by incorporating technical fabrics to enhance performance on course and provide style off course. Like our products, Rich represents the essence of our brand-rich heritage, commitment to excellence and innovation, and passion for life. Always authentic." 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., 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 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. 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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