Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (11493)	7/15/1998 7:01:00 PM
From: John J H Kim	Respond to of 120523

This came out from ASHW ceo after close: Maybe those trades were someone wanting to get out of their positions? Ashworth, Inc. Fiscal 1998 Third Quarter Operating Results Will Be Impacted By Quality and Timeliness of Goods From Offshore Sources CARLSBAD, Calif., July 15 /PRNewswire/ -- Randall L. Herrel, Sr., President and Chief Executive Officer of Ashworth, Inc. (Nasdaq: ASHW - news), announced today that the quality and timeliness of a few key styles of the Company's popular basics line received from offshore sources in the third quarter of 1998, had fallen short of the Company's quality expectations and standards. In keeping with the Company's ongoing commitment to premium quality and customer satisfaction, the lower quality goods were not shipped to customers and the problem is being corrected. As a result of these production-related issues, the Company's sales in the third quarter will be affected by approximately $2.0 to $3.0 million but will still result in strong improvement over the corresponding quarter of fiscal 1997. Mr. Herrel further stated that, due to this problem, third quarter net income will equal or be slightly above last year and may also slightly impact net earnings in the fourth quarter of the current fiscal year. Ashworth, Inc. is a Southern California-based designer and manufacturer of golf-inspired lifestyle for men, women and young men sportswear distributed domestically and internationally in golf pro shops, resorts and upscale department and specialty stores. The statements in this release are forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include the possibility of further quality, timeliness and related production problems could be encountered and the timely development and acceptance of new products, the impact of competitive products and pricing, future bookings and other risks detailed frequently in Ashworth, Inc. SEC reports, including the report on Form 10-K for the year ended October 31, 1997.