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AJAY SPORTS, INC. REPORTS YEAR-END RESULTS

 DELAVAN, Wis., April 19 /PRNewswire/ -- Ajay Sports, Inc. (Ajay) (NASDAQ: AJAY) said today that for the year ended Dec. 31, 1992 it had revenues of $21 million and net income of $381,000 or $.02 per share compared to 1991 revenues of $20 million and a net loss of $2,121,000 or $.26 per share. The company recorded a one-time, nonrecurring gain on its disposition of investment in MacGregor Sports and Fitness, Inc. (MacGregor) of $275,000 in 1992. The company had previously recorded a one-time, nonrecurring writedown of its investment in MacGregor of $2,014,000 in 1991.
 "We want to emphasize the progress that has been made during the past year," said L. Dean Cassell, Ajay Leisure president. "There was improvement at the operating level in both revenues and profits as compared to 1991. Ajay's marketing strategy of offering pro shop designs, quality and features emphasizing value pricing for the sports retailer and mass merchandise market segments is being widely accepted," said Cassell. Mr. Cassell also added the company is developing new products and recently introduced a line of instructional videos and golf training devices under the "Private Pro" brand. The company is also introducing in April a unique light weight pull cart with an on-board computer.
 The company recently reported an extension of its Spalding license agreement through June 1996, based on Ajay attaining certain minimum sales goals during this period. Ajay has the exclusive right to use the "Spalding" name on golf carts, golf bags, golf gloves and golf accessories for the mass merchandise and sporting goods dealer trade channels.
 Ajay Sports, Inc. through its 100 percent wholly owned subsidiary, Ajay Leisure Products, Inc. is one of the largest distributors of golf accessories as well as one of the nation's largest manufacturers of retail golf bags.
 -0- 4/16/93
 /CONTACT: Dennis L. Carnes, vice president of Ajay Sports, Inc., 414-728-5521/
 (AJAY)


CO: Ajay Sports, Inc. ST: Wisconsin IN: SU: ERN

TS-OS -- NY015 -- 6638 04/16/93 09:47 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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