Adams Golf has reported record net sales of $37.8 million for the three months ended March 31, 2012, as compared to $30.2 million for the three months ended March 31, 2011, an increase of 25% year-over-year.
Adams Golf recorded a net profit of $5.4 million, or $0.66 per fullydiluted share, for the three months ended March 31, 2012, as compared to $4.0 million, or $0.50 per fully diluted share, for the comparable period of 2011.
“We are excited about our strong start to 2012 and the continued brand momentum,” said Mr. Barney Adams, Interim CEO of Adams Golf. “Our Q1 results benefited from our ability to grow our brand and our business, both domestically and internationally, our great product offering and technology especially Velocity Slot technology in our fairway woods and hybrids.”
“During the first quarter we were particulary encouraged with the market response to our current product offerings, especially the Speedline Fast 12 woods, the XTD fairway and Super XTD hybrid along with the Idea a12OS iron product lines, all of which are experiencing success in the marketplace.”
“Our continued success with the Velocity Slot technology incorporated into our 2012 fairway woods and hybrids is yielding market share growth.”
“In summary, we are encouraged with our Q1 results and our progress on brand and business development. We are excited about the many opportunities of future growth for the company,” concluded Mr. Adams.