11.01.2005 19:28:00
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Team Ashworth Member Stuart Appleby Comes from behind to Win Second Co
Business Editors/Sports Editors/Golf Writers
CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 11, 2005--Ashworth, Inc. (NASDAQ:ASHW), a leading designer of golf-inspired lifestyle sportswear and golf apparel, today announced that Team Ashworth member Stuart Appleby shot a 21-under-par 241 on the Plantation Course at Kapalua Resort in Hawaii for a one-shot, $1.06 million victory over Jonathan Kaye in Appleby's second consecutive win in the winners-only, PGA season-opening Mercedes Championship.
The Australian, ranked thirteenth in the world, then boarded a plane for Melbourne, where his wife is expecting their first child.
Appleby, 33, is a member of Team Ashworth, a roster of tour pros led by Team Captain and CBS broadcaster Jim Nantz and including Fred Couples, Chris DiMarco, Rich Beem, Blaine McCallister and Steve Flesch. Team Ashworth pros wear Ashworth(R) brand apparel.
The Australian played the final 55 holes without a bogey to rack up his sixth career victory. He is the first player in 22 years to successfully defend a Mercedes win.
"I just ran hard across the line and tried to get my nose in front," Appleby said. He was four strokes behind Vijay Singh at the start of the final round. Birdies at the par-four third and par-five fifth and an eagle at the par-four sixth were joined by birdies at the par-four twelfth and the par-four seventeenth to give him a 6-under-par 67 for the day, while miscues by Singh, Ernie Els and Jonathan Kaye ensured that Appleby received the winner's lei, trophy and sports car.
Randall L. Herrel, Sr., Chairman and Chief Executive Officer, commented, "Congratulations to Stuart from everyone at Ashworth on this victory. And our best hopes and wishes go to both Mr. and Mrs. Appleby as the birth of their first child approaches."
Ashworth, Inc. is a designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts, upscale department and specialty stores and to corporate customers. Ashworth products include three main brand extensions. Ashworth Collection(TM) is a range of upscale sportswear designed to be worn on and off course. Ashworth Authentics(TM) showcases popular items from the Ashworth line. Ashworth Weather Systems(R) utilizes technology to create a balance between fashion and function in a variety of climatic conditions. Callaway Golf is a trademark of Callaway Golf Company. Ashworth, Inc., 2765 Loker Avenue West, Carlsbad, CA 92008, is an Official Licensee of Callaway Golf Company.
In July 2004, Ashworth, Inc. acquired Gekko Brands, LLC ("Gekko"), a leading designer, producer and distributor of headwear and apparel under The Game(R) and Kudzu(R) brands. This strategic acquisition provides opportunity for additional growth in new three, quality channels of distribution for the Ashworth(R) and Callaway Golf apparel brands as well as further growth from The Game(R) and Kudzu(R) brands' sales into the Company's three current distribution channels. The Game(R) brand products are marketed primarily under licenses to over 1,000 colleges and universities, as well as to the PGA TOUR, resorts, entertainment complexes and sporting goods dealers that serve the high school and college markets. The Game(R) brand is one of the leading headwear brands in the College/Bookstore distribution channel. The Kudzu(R) brand products are sold into the NASCAR/racing markets and through outdoor sports distribution channels, including fishing and hunting.
To learn more, please visit our Web site at www.ashworthinc.com.
This press release contains forward-looking statements related to the Company's market position, finances, operating results, marketing plans and strategies. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no responsibility to publicly release the results of any revisions to these forward-looking statements that may arise from changing circumstances or unanticipated events. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the timely development and acceptance of new products, as well as strategic alliances, the integration of the Company's recent acquisition, the impact of competitive products and pricing, the success of the Callaway Golf apparel product line, the preliminary nature of bookings information, the ongoing risk of excess or obsolete inventory, the potential inadequacy of booked reserves, the timely completion and successful operation of the new distribution facility in Oceanside, CA, and other risks described in Ashworth, Inc.'s SEC reports, including the annual report on Form 10-K for the year ended October 31, 2003 and quarterly reports on Form 10-Q filed thereafter.
--30--HB/la*
CONTACT: Ashworth, Inc. Randall L. Herrel, Sr., 760-929-6142 Terence Tsang, 760-929-4611 or CCG Investor Relations and Strategic Communications Sean Collins, 818-789-0100, ext. 202 (Investor Relations)
KEYWORD: HAWAII CALIFORNIA AUSTRALIA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: CONSUMER/HOUSEHOLD APPAREL/TEXTILES RETAIL SPORTS SOURCE: Ashworth, Inc.
Copyright Business Wire 2005
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