Adams Golf posted record net sales for the first quarter of $27.8 million, improving 25% over $22.3 million in the year-ago quarter. The companys $27.8 million in net sales for the first quarter represents its largest first quarter net sales figure since the company went public in 1998. The company reported net income of $3.8 million, or 12 cents fully diluted per share for the quarter, up 15.2% from net income of $3.3 million, or 12 cents fully diluted per share for the comparable period of 2006.
“Im very pleased with the companys continued sales and earnings growth,” said Mr. Chip Brewer, CEO and President of Adams Golf. “Our growth continues to be driven by our Idea hybrid iron sets. Additionally, our individual hybrids have become the #1 hybrid played by professionals on the combined professional mens tours (PGA, Champions and Nationwide) for the first quarter of 2007, according to results from the Darrell Survey. We continue to invest in our brand, our overall organization, particularly our R&D organization, and our positions on the competitive professional tours.”