Adams Golf reported record net sales of $30.2 million for the first quarter ended March 31, up 35.0 percent from sales of $22.4 million in the year-ago period. The company recorded net income of $4.0 million for the quarter, up from $1.7 million in Q1 2010.  Company President and CEO Chip Brewer attributed growth to improving market conditions and the companys brand presence domestically and internationally.


The companys International sales, which comprised roughly 17 percent of total sales, improved 26.5 percent to $5.2 million in Q1 from $4.1 million in the prior-year period. International growth continues to be a key objective for our company and we perceive this as an area of strong future growth potential, said Brewer. We continue to focus resources towards the development of this business, including but not limited to, establishing a third party distribution center to better service and develop the European market, which became fully functional during this quarter.


By product segment, Irons, which is the companys largest business segment at about 61 percent of total sales, were up 27.8 percent to $18.4 million from $14.4 million a year ago. Drivers and Fairway Woods improved 7.7 percent and 63.0 percent, respectively. Margins for the quarter improved 190 basis points to 46.9 percent compared to 45.0 percent a year-ago.


According to Golf Datatech LLC, for the first quarter of 2011, in the combined On and Off Course Channels, Adams Golfs U.S. iron dollar share was 12.0%, flat versus Q1 2010 and up 8.4% versus Q4 2010. Woods dollar share in the same channels was 6.7%, up 2.1% over Q1 2010 and up 11.9% over Q4 2010. Adams said the results continue a long term growth trend that has extended over several years now.