Adams Golf, Inc. (ADGO.OB) reported net sales of $18.9 million for the third quarter ended September 30, 2007. Compared to $15.0 million of net sales in the third quarter of 2006, this represents an increase of 27%. The Company also reported a net loss of $0.3 million, or $0.01 per fully diluted share for the third quarter ended September 30, 2007, as compared to a net loss of $0.5 million, or $0.02 per fully diluted share for the comparable period of 2006.
“We were pleased with our revenue growth in Q3 and the perceived strengthening of both our brand and our organization,” stated Mr. Chip Brewer, President and CEO of Adams Golf. “We believe that these accomplishments, if sustained, will lead to long term improvements in profitability and shareholder value. The revenue growth was driven by the launch of our Idea a3 hybrid iron sets late in the second quarter and the launch of our Idea a3 OS hybrid iron sets late in the third quarter. Hybrid iron sets continue to grow as a percentage of total iron sets sold at retail, and we continue to enjoy a definitive leadership position in this category.”
Adams Golf will host a conference at 4:30 p.m. Eastern time on Wednesday, November 7th, 2007. Chip Brewer, CEO and President, and Eric Logan, Chief Financial Officer, will review Adams’ 2007 third quarter financial results. For telephone access to the conference call, dial (800) 374-0113 or (706) 758-9607 for international calls, and request connection to the Adams Golf conference call. The conference ID# is 23302872.
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