Titleist Makes Debuts

2009-08-14

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The Acushnet Company (Titleist, FootJoy, Cobra) will unveil new Titleist clubs to the media and public later this month. but some of the new Titleist irons made of their PGA Tour debuts.

For example, at the Buick Open earlier this month, Titleist staffer Greg Chalmers played a new set of yet-to-be introduced Titleist CB irons for his best finish of the season - a T2 with John Senden, who played a Titleist Pro V1 golf ball and Scotty Cameron Newport 2 putter, and Roland Thatcher (Pro V1x, Scotty Cameron putter).

Chalmers was among nine players who put Titleist’s new AP2, AP1, MB and CB irons into play at the Buick, the first time they were available for competition. The new irons will be available in the marketplace beginning Nov. 1.

Golfsmith (NASDAQ: GOLF) Chief Executive Officer Marty Hanaka mentioned the new Titleist product, as well as other soon-to-come clubs on a recent conference call with Wall Street analysts.

"Mizuno has got some forged product. Cobra has forged product and some new drivers. And at the TaylorMade, their new R9 irons are going to be spectacular. So, it’s great to see them coming out,'' Hanaka said.

No doubt. Golfsmith reported second quarter sales of $114.8 million compared to $130 million for Q2 of 2008. The company said net Q2 revenues reflect a 9.5 percent decrease in comparable store sales and a 28 percent decrease in net revenues from its direct-to-consumer channel.

Golfsmith reported its Q2 earnings at $6.8 versus $.6 million the same period a year ago.

The company's six-month sales were $183.6 million compared to $209.2 million for the same period in '08. Golfsmith said the decrease in total revenue was due to a 10.3 percent decrease in comparable store sales and a 26.7 percent decrease in net revenues from its direct-to-consumer channel.

Earnings for the six months were $1.7 million compared to $3.1 million the first six months of '08