It feels good to report positive news in the golf business even if it does not spell long-term relief for the beleaguered sector. The better news is that of a U.S. company capitalizing on increased exports to build sales.
True Temper Sports shook off the global downturn in the economy and the golf market and looked to favorable currency exchange rates with its Japan and U.K. markets to post its third consecutive quarter of “improved sales and operating performance”.
True Temper Sports, Inc. saw Q1 sales increase 7.6% to $31.6 million, while net income rose 8.3% to $2.6 million for the quarter.
The company pointed to strength in the sales of its premium grade lightweight steel shaft and the expansion of performance sports revenues from sales of composite bicycle components, several new hockey stick shafts to hockey OEMs, and other recreational products within the segment as drivers for the sales increase.
The currency exchange benefit, coupled with increased shipments to China, drove a 45% jump in export sales.
In other news, TTS opened a new 14-acre test center in Mississippi located near the Cottonwoods golf Course at Grand Casino. The facility is focused on accelerating development of new steel and graphite shaft technology and design.
