More bad news for Carlsbad’s little white ball business. If it’s not TaylorMade battling Callaway over patents, it’s Ashworth Golf Company reporting numbers for the third quarter ending July 31: down 6.4 percent over last year with a consolidated net loss of $5.7 million on net revenue of $49.5 million.
In the third quarter of fiscal 2007, the Company’s consolidated gross margin decreased 270 basis points to 38.2% as compared to 40.9% in the third quarter of fiscal 2006. The decrease in consolidated gross margin was driven significantly by a decrease in revenue without a commensurate decrease in overhead expenses being applied to cost of sales.
Guess letting people keep their jobs when sales are down is bad for business. But we don’t golf, so what do we know.
[Link: Businesswire]
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