Business Edge for Thursday April 26 2001
GOOD NEWS FOR ADAMSFINALLY: After getting bashed around in its last few earnings reports, Adams Golf found encouraging news on its income statement for the first quarter of 2001 ' including a net profit.
Adams net sales of nearly $20.7 million for the quarter ended March 31 is a 30 percent increase over the companys net sales of nearly $15.9 million in the first quarter of 2000. Trimmed operating expenses ($11.6 million in the latest quarter versus more than $15 million for Q1 2000) helped turn those sales into net income of $366,000 (2 cents per share). For the first quarter of 2000, Adams lost more than $2 million (9 cents per share).
Chairman and CEO Barney Adams attributes the turning tide to interest in his companys clubs that feature bimaterial shafts. The GT irons feature shafts with a graphite section on the bottom of the shaft that varies in length depending on the club; long irons have more graphite. Adams ST metalwoods use the True Temper BiMatrx shaft, which has a lower steel section and an upper graphite section. Mark Calcavecchia used the shaft with a Ping driver head to win the Phoenix Open.
NEW NIKE BALLS: Nike Golf is getting into the value segment of the golf ball market with three new models in its Power Distance series. The Ti-Velocity is aimed at high handicappers looking for a durable distance ball. The Feel-Speed is made for mid- to high handicappers who want extra feel and accuracy. The Hi-Launch is for mid- to high handicappers who seek extra carry and feel. All three models are two-piece, solid core balls.
Shipping will begin in June. Suggested retail price per dozen will be $19.99, but expect the street price to be around $16.
Lexi (wrist) WDs from Diamond Resorts Invitational
Lexi Thompson on Friday withdrew from the Diamond Resorts Invitational, citing inflammation in her wrist. Thompson, who teamed with Tony Finau to finish tied for fourth place in last week's QBE Shootout, said she is under strict doctor's order not to hit golf balls until mid-January.
The Diamond Resorts Invitational is scheduled Jan. 12-14 at Tranquilo Golf Club in Orlando, Fla. The field for te 54-hole event includes LPGA and PGA Tour Champions players, as well as celebrities from the worlds or sports and entertainment.
Rose leads halted Indonesian Masters; Snedeker WDs
JAKARTA, Indonesia - Justin Rose held a three-stroke lead at the Indonesian Masters when bad weather stopped play Friday during the second round.
The Englishman, who shot a 10-under 62 on Thursday, had completed 13 holes and was 5 under on the day at the Royale Jakarta Golf Club course.
Kiradech Aphibarnrat (64) was in second place.
Brandt Snedeker withdrew wit on the 11th hole at 2 under for the day after shooting an opening 72.
There was no reason given for his withdrawal, but the American has been affected by a rib-sternum injury for most of the season. Ranked 51st in the world, he flew to Jakarta looking to move inside the top 50 by the end of the year and ensure a spot in next year's Masters.
Newsmaker of the Year: No. 2, Donald Trump
Even away from the White House, President Donald Trump generated plenty of headlines this year.
Trump’s first year in office didn’t dim his enthusiasm for the game, as he made splashy appearances at two big events, tweeted about golf to his more than 44 million followers, teed it up with some of the sport’s biggest stars, including Tiger Woods, Rory McIlroy and Lexi Thompson, and fired a few eyebrow-raising scores. Logging more than 75 rounds since his inauguration, the 3-handicap has only bolstered his reputation as the best golfing president, particularly after his alleged 73 with Sen. Lindsey Graham.
None of his appearances created a bigger stir than when he attended the U.S. Women’s Open. Despite protests and calls for the USGA to move its premier women’s event from Trump Bedminster – the president reportedly threatened to sue – his weekend there went off without incident, as Trump watched the action and hosted players in his private box near the 15th green.
Despite his controversial rhetoric on a variety of national issues, Trump has remained a staunch supporter of women’s golf, and he became the first sitting president to attend the U.S. Women’s Open.
An honorary chairman of the Presidents Cup, Trump also flew to Liberty National for the biennial team event, where he presented the trophy to the U.S. team and dedicated the victory to the hurricane victims in Texas, Florida and Puerto Rico.
In late November, amid tweets about the national anthem, Turkey, Egypt and Time Magazine, Trump announced that he was playing a round in South Florida with Woods and world No. 1 Dustin Johnson.
Yes, that too became a headline, just like everything else Trump did in 2017.
Playing with the pros
Tiger, DJ and Faxon
President at the Presidents Cup
Purported round of 73 with Lindsey Graham
Cart on the green
Presence and protests at U.S. Women's Open
Trump golf properties
Reportedly fake TIME covers
Trump apologizes for voter-fraud story
Pros comment on the president
Newsmakers of the Year: Top 10 in 2017
GolfChannel.com is counting down the top 10 Newsmakers of the Year as voted on by Golf Channel’s writers, editors, reporters and producers. Check out the list below, including future release dates. And click here for the full collection of articles.
No. 1: Dec. 18