GOLFWEEK STAFFAdams Golf reported record annual net sales of $94.6 million in 2007, a 24 percent increase fueled in part by growing exposure on professional tours and its popular hybrid clubs.
By comparison, the Plano, Texas-based club manufacturer generated net sales of $76 million in 2006. Net income for the most recent fiscal year was $9.4 million compared with $9 million in 2006.
“Over the last five years we have delivered a 20 percent compound average growth rate in revenues and consistent profitability, while simultaneously investing in our brand and organizational resources,” said Chip Brewer, CEO and president of Adams Golf, in a statement released March 11.
Citing Darrell Survey results, Brewer said the company’s hybrids have been the No. 1 hybrid in play “for two years running on the combined professional men’s tours, which include the PGA, Champions and Nationwide Tours.” The company’s recent marketing investments include the signing of PGA Tour players Aaron Baddeley and Rory Sabbatini as endorsers.
Posted: 3/17/2008
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