Co-Founder of the Company to consult on brand development
Carlsbad, Calif. – January 25, 2007 – Ashworth, Inc. (NASDAQ: ASHW), a leading designer of on-course golf apparel and golf inspired lifestyle sportswear, today announced that John Ashworth will return to the company he co-founded twenty years ago to consult on all aspects of Ashworth brand development. The position is effective immediately as the Company prepares to introduce its Fall 2007 Collections and new trade show booth this morning at the PGA Show in Orlando, Florida.
"For the last several months, our new management team has been focused on improving operational efficiency, supply chain, product, and distribution. The return of John is a significant step towards this commitment," commented Peter Weil, Ashworth’s CEO.
Mr. Ashworth will be introduced in the Ashworth exhibit booth this morning from 7:30 – 8:30 am during the Company’s previously scheduled Global Media Event as well as during the Golf Digest Company’s presentation of the Ashworth Global Partnership Event this afternoon from 4:00 – 6:00 pm.
"It’s great to be back. There’s a positive energy in the new leadership of the Company. I look forward with excitement and optimism to the opportunity to add value to the brand and to the golf community once again," commented John Ashworth.
"I look forward to working closely with John to fully develop the lifestyle of the Ashworth brand," commented Gary Sims, Ashworth’s President. "His return to the company on its 20th Anniversary has energized the entire organization and 2007 promises to be a very exciting year for our brand and valued accounts around the world."
About Ashworth, Inc.
Ashworth, Inc. (NASDAQ: ASHW) – is a leading 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’s three market-leading brands include: Ashworth Collection â?¢, a range of upscale sportswear designed to be worn on and off course; Ashworth Authentics â?¢, which showcases popular items from the Ashworth line; and Ashworth Weather Systems®, a technical performance line. Ashworth is also an Official Apparel Licensee of Callaway Golf Company.
Ashworth is also a leading designer, producer and distributor of headwear and apparel under The Game® and Kudzu® brands. The Game is a leading headwear brand to collegiate bookstores and Kudzu products are sold into the NASCAR/racing markets and through outdoors sports distribution channels, including fishing and hunting. Ashworth is also the exclusive on-site event merchandiser for the Kentucky Derby.
For more information, please visit the Company’s Web site at www.ashworthinc.com.
Forward-Looking Statements
This press release contains forward-looking statements related to the Company’s market position, finances, operating results, marketing and business plans and strategies within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may contain the words "believes," "anticipates," "expects," "predicts," "estimates," "projects," "will be," "will continue," "will likely result," or other similar words and phrases. 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 obligation to update any forward-looking statements, whether as a result of new information, changed circumstances or unanticipated events unless required by law. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the uncertainties associated with implementing a successful transition in executive leadership, the evaluation of strategic alternatives that may be presented, timely development and acceptance of new products, as well as strategic alliances, the integration of the Company’s acquisition of Gekko Brands, LLC, 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 successful operation of the new distribution facility in Oceanside, CA, the successful implementation of the Company’s ERP system, and other risks described in Ashworth, Inc.’s SEC reports, including the annual report on Form 10-K for the year ended October 31, 2006, quarterly reports on Form 10-Q filed thereafter and amendments to any of the foregoing reports.
Contact:
James B. Hayes – Chairman
(760) 929-4644
Peter M. Weil – CEO
(760) 929-4509
Gary Sims – President
(760) 929-4514
