True Temper Sports, Inc. announced net sales for the third quarter increased 19.8%, to $25.5 million from the $21.3 million last year. Golf shaft sales increased 18.9% to $23.8 million compared to the $20.0 million posted in the year-ago period, driven by a favorable shift in the mix of steel golf shafts sold towards more premium, branded products and an increase in unit sales volume for the companys branded and OEM proprietary graphite golf shafts. Performance sports sales increased 32.9%, to $1.7 million in the third quarter from $1.3 million last year. This increase in revenue was driven primarily by unit volume improvements in both the hockey and bike categories. International sales increased 22.0% to $10.0 million from $8.2 million in Q3 2004.
Gross profit as a percentage of net sales increased 160 bps to 40.9% in the third quarter of 2005 from 39.3% in the year-ago quarter, driven primarily by increased selling prices for golf shaft products. Net Income for the third quarter decreased $1.4 million to a net loss of $0.7 million from net income of $0.7 million.