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CHARTER GOLF ANNOUNCES RECORD THIRD QUARTER RESULTS; NINE-MONTH NET INCOME ADVANCES 109 PERCENT ON 79 PERCENT SALES INCREASE

 CHARTER GOLF ANNOUNCES RECORD THIRD QUARTER RESULTS; NINE-MONTH
 NET INCOME ADVANCES 109 PERCENT ON 79 PERCENT SALES INCREASE
 CARLSBAD, Calif., Aug. 27 /PRNewswire/ -- Charter Golf Inc. (NASDAQ-NMS: CGOL), maker of ASHWORTH golf apparel, today announced results for its third quarter and nine-month period ended July 31, 1992.
 Sales for the third quarter advanced 71 percent to $7,790,479 compared to $4,554,450 in the same quarter a year ago. Net income for the quarter increased 72 percent to $529,534 vs. $307,085 last year. Earnings per share increased to 5 cents per share, up from 3 cents per share last year.
 Through nine months, sales were $22,247,559, up 79 percent from $12,429,099 in the same period a year ago. Nine-month net income increased 109 percent to $1,900,607 vs. $908,568 in the comparable period last year. Earnings per share increased to 18 cents per share up from 10 cents per share a year ago.
 Gerald W. Montiel, president and chief executive officer, stated, "We are pleased with our results and the growing popularity of our Ashworth products. We are on line to achieve analysts' estimates of $28 to $30 million in sales for the current fiscal year ending Oct. 31."
 CHARTER GOLF INC.
 Earnings Recap
 Three Months Ended Nine Months Ended
 July 31, July 31,
 1992 1991 1992 1991
 Net sales $7,790,479 $4,554,450 $22,247,559 $12,429,099
 Net income 529,534 307,085 1,900,607 908,568
 Weighted average
 number of shares
 outstanding-
 primary 11,514,859 9,464,885 10,750,662 9,270,715
 Net income per
 share-primary .05 .03 .18 .10
 Weighted average
 number of shares
 outstanding-
 fully diluted 11,415,434 9,535,364 10,641,314 9,440,938
 Net income per
 share-fully
 diluted .05 .03 .18 .10
 -0- 8/27/92 R
 /CONTACT: Gerald Montiel, president and CEO of Charter Golf, 619-438-6610/
 (CGOL) CO: Charter Golf Inc. ST: California IN: TEX SU: ERN


JB-KJ -- SD002 -- 3874 08/27/92 10:43 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
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