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.