by The Editors on June 21, 2007
Carlsbad-based Colantotte International Inc. (doing business as Trion:Z) is claiming that their magnetic/ionic bracelet helped US Open winner “Ivan Lendl” (we think they mean Angel Cabrera, but that’s what it says on Worldgolf.com) become the first Argentine golfer to win a Major.
Trion:Z Vice President of Sales, Bob Gotfredson had a spare blue/white Trion:Z bracelet and presented it to the Champion and his caddy on Sunday morning, assuring him that the Trion:Z bracelet would help with his focus and concentration. . . the bracelets and necklaces are made of a fabric with minus-ion producing minerals woven into the fabric. Minus ions counteract the positive ions which build up from physical activity, exposure to UV Rays, and prolonged exposure to electronic equipment.
I wonder if these things would help us type better? Probably couldn’t hurt, especially if they helped Ivan Lendl win a US Open.
[Link: World Golf]
by The Editors on June 18, 2007
Ashworth, Inc. the Carlsbad based “on-course” golf apparel and sportwear line reported their second quarter 2007 financials today and the news was bad in pretty much every quarter. Net revenue was down $7 million, the net loss for the quarter was $2.5 million and their consolidated gross margin decreased “650 basis points” to 38.8 percent. But CEO Peter Weil is optimistic of course:
Throughout the second quarter, we continued to execute on the strategic initiatives our Board and management team identified during the second half of 2006. While we continue to face challenges, we believe the initiatives being implemented will help better position the Company for sustainable and profitable growth,” he said in the press release. “Despite the challenges in the second quarter, we are excited about the future of Ashworth. We have taken a number of steps that are designed to build a more efficient and effective organization, including the recently announced personnel changes.”
Spin, Peter, spin.
[Link:Business Wire]
by The Editors on June 15, 2007
TaylorMade-adidas recently cut 41 employees and more than half of those were from the Carlsbad office.
Scott Leightman, a company spokesman, said the layoffs were relatively minor for a company the size of TaylorMade-adidas, which has more than 1,400 employees worldwide.
According to golf industry watchers the industry is currently not growing. “TaylorMade-adidas appears to be properly cautious. The golf industry is not growing, said McAndrew, editor of Web Street Golf Report, and the company is being careful not to overextend itself.”
[Link: North County Times]
by The Editors on June 14, 2007
Maybe we should start golfing. Seems like all the business news in Carlsbad is balls deep. Check this:
Callaway Golf Co., the sports equipment-maker that sued a subsidiary of Deerfield-based Fortune Brands Inc. last year for infringing four of its golf ball patents, filed a second lawsuit against its rival, this time over five of its patents for clubs.
Balls and clubs. . . oh, yeah. One more thing: According to Forbes, Last Thursday Steven C. McCracken, the chief administrative officer, senior executive vice president and secretary of Callaway exercised 40,700 options at $16.56 then sold them for $18.60 for a nice $83,028.
[Link: Chicago Tribune]
by The Editors on June 5, 2007
Callaway Golf Company has announced that it plans to buy back up to $100 million dollars of common stock on the open market.
The Company will assess market conditions and buying opportunities from time to time and will make strategic repurchases as appropriate. The repurchases will be made consistent with the terms of the Company’s credit facility which defines the amount of stock that can be repurchased in any one year.
The board of directors also mentioned a $.07 dividend payable July 5, 2007. Happy 5th of July stockholders.
[Link: Canada NewsWire]
by The Editors on June 4, 2007
It’s been a rocky time for Ashworth Inc. workers lately. According to the San Diego Business Journal they’ve fired President Gary Schneiderman, lost an EVP, and cut 16 other positions in last month.
Ashworth’s upheaval may be what the doctor ordered, or could further compound the company’s disappointing financial results. . . . For the first quarter, Ashworth lost $2.5 million on revenue of $38.3 million, compared with a net loss of $50,000 on revenue of $40.6 million for the first quarter of 2006.
[Link: San Diego Business Journal]
by The Editors on June 4, 2007
Carlsbad-based Colantotte International Inc. (doing business as Trion:Z) is claiming that their magnetic/ionic bracelet helped US Open winner “Ivan Lendl” (we think they mean Angel Cabrera, but that’s what it says on Worldgolf.com) become the first Argentine golfer to win a Major.
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