California based leading golf wear maker Ashworth Inc announced that it would delay its detailed earnings release by one week. The Company reiterated the guidance issued on November 29, 2005.
Net revenues for the fourth quarter of 2005 are expected to grow approximately 15 Percent to approximately $55 million, up from $48 million in net revenues for the same period a year ago. The Company anticipates a loss of approximately $2.1 million to $2.4 million or $0.15 to $0.17 per diluted share for the fourth quarter ended October 31, 2005.
The Company reported that the focus on implementation requirements for its first year of Sarbanes-Oxley Section 404 compliance caused the delay in its independent auditor's completion of the year-end audit. The Company expects to provide the detailed report on Thursday, December 22, 2005 shortly following the close of the market.
The Company also will file its annual report on Form 10-K as scheduled on or before January 17, 2006.
Conference Call and Webcast Ashworth management will conduct a conference call and webcast providing details on its fourth quarter results and outlook for fiscal 2006 on Thursday, December 22, 2005, at 4:30 p.m. ET (1:30 p.m. PT). The call will be broadcast live over the Internet at www.ashworthinc.com. Randall Herrel, Chairman and Chief Executive Officer, and Peter Case, Executive Vice President and Chief Financial Officer, will host the call.
An online archive of the broadcast will be available after the completion of the call and will be accessible on the Company's website until January 6, 2005. Additionally, a telephone replay will be accessible for 48 hours by calling 1-877-519-4471 or 1-973-341-3080 for international callers; enter conference ID 6777180.
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