Golf Clubs - Adams Golf - New record Q1 sales for Adams Golf

Reporting their first quarter net sales of 2008, Adams Golf have reported net sales of $28m, up 1% compared to the same period in 2007.

Q1 results are the highest reported in Adams’ history since becoming a public limited company in 1998. In the period up to 31st March, 2008 – the golf manufacturer recorded net income of $800,000 compared to $3.8m in Q1, 2007. This decline was attributed to various ‘reinvestments’ in the company, such as increased Marketing spend on increasing awareness and establishing creditability of its brand on major high profile events such as the PGA Tour.

Adams Golf believe that such an investment will deliver long term growth and provide additional shareholder value. This investment was initially expected to negatively affect its earnings, until the point at which sufficient growth in revenue amounted to enough to cover the initial outlay.

The CEO reported increased sales of fairway woods and drivers accounting for 19% and 4% of total growth – compared to the similar period in 2007. Additional growth in its Insight XTD lines and Idea Hybrids had also contributed to increased net sales in Q1, 2008. Adams Golf did report a decline in sales of its Irons – down 5% in 2008.

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