Ashworth Inc. Announces the Return of John Ashworth.Co-Founder of the Company to Consult on Brand Development 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 on-course golf apparel and golf inspired lifestyle sportswear, today announced that John Ashworth will return to the company he co-founded twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. ago to consult on all aspects of Ashworth brand development. The position is effective immediately as the Company prepares to introduce its Fall 2007 Collections and new trade show booth this morning at the PGA (1) (Professional Graphics Adapter) An early IBM PC display standard for 3D processing with 640x480x256 resolution. It was not widely used. (2) (Programmable Gate Array) See gate array and FPGA. Show in Orlando, Florida. "For the last several months, our new management team has been focused on improving operational efficiency, supply chain, product, and distribution. The return of John is a significant step towards this commitment," commented Peter Weil, Ashworth's 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. . Mr. Ashworth will be introduced in the Ashworth exhibit booth this morning from 7:30 -- 8:30 am during the Company's previously scheduled Global Media Event as well as during the Golf Digest Company's presentation of the Ashworth Global Partnership Event this afternoon from 4:00 -- 6:00 pm. "It's great to be back. There's a positive energy in the new leadership of the Company. I look forward with excitement and optimism to the opportunity to add value to the brand and to the golf community once again," commented John Ashworth. "I look forward to working closely with John to fully develop the lifestyle of the Ashworth brand," commented Gary Sims, Ashworth's President. "His return to the company on its 20th Anniversary has energized the entire organization and 2007 promises to be a very exciting year for our brand and valued accounts around the world." About Ashworth, Inc. Ashworth, Inc. (NASDAQ:ASHW) -- is a leading 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's three market-leading brands include: Ashworth Collection [TM], a range of upscale sportswear designed to be worn on and off course; Ashworth Authentics [TM], which showcases popular items from the Ashworth line; and Ashworth Weather Systems[R], a technical performance line. Ashworth is also an Official Apparel Licensee 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 is also 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. The Game is a leading headwear brand to collegiate bookstores and Kudzu products are sold into the NASCAR/racing markets and through outdoors sports distribution channels, including fishing and hunting. Ashworth is also the exclusive on-site event merchandiser for the Kentucky Derby. For more information, please visit the Company's Web site at www.ashworthinc.com. Forward-Looking Statements 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. These forward-looking statements may contain the words "believes," "anticipates," "expects," "predicts," "estimates," "projects," "will be," "will continue," "will likely result," or other similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . 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 uncertainties associated with implementing a successful transition in executive leadership, the evaluation of strategic alternatives that may be presented, timely development and acceptance of new products, as well as strategic alliances, the integration of the Company's acquisition of Gekko Brands, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , 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, the successful implementation of the Company's ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system, 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, 2006, quarterly reports on Form 10-Q filed thereafter and amendments to any of the foregoing reports. |
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