Golf shaft specialist Aldila, Inc. said sales gains in both of its major categories boosted sales 14% for the third quarter and helped the company swing to a profit from a year-ago period that suffered from an overall weak market.
Sales improved to $12.2 million in Q3 from $10.7 million a year ago while net income reached $1.3 million, or 24 cents per share, compared to a loss of $571,000, or 11 cents per share, in the year-ago period.
Management said golf shaft sales increased by 6% for the quarter on strength from new products, unit sales increased by 15% and average selling price declined by 8%. All the while, sales in the company’s Composite Materials division rose 61%.
“The golf industry and golf equipment sales in particular have suffered through several years of tough conditions with declines in sales in the key categories of woods and irons during 2008, 2009 and year to date 2010,” offered Aldila Peter R. Mathewson, chairman and CEO.
However, in light of Aldila’s third quarter uptick, it seems the golf industry is responding in a positive manner as discretionary funds loosen and consumers become more confident.
