Ashworth, Inc., the Carlsbad apparel-maker, hit a new 52-week low in trading Sept. 2 following the release of quarterly earnings and an updated earnings forecast.
The stock, which trades on the Nasdaq under the symbol ASHW, opened at $6.84 Sept. 2 and was trading as low as $5.95 that morning.
The company reported a loss of $3.4 million on net revenue of $48.3 million during the quarter ended July 31. One year ago, Ashworth reported net quarterly income of $508,000 on net revenue of $42.8 million.
The company said it expected “continued softness” in the current quarter, which is its fourth quarter, and yearly revenue in the $200 million to $204 million range. For fiscal 2006, the company said it expected $210 million to $220 million in revenue.
Brad Graves
