Wednesday, November 14, 2012
TaylorMade-Adidas Golf Reports Strong Financial Results
Excellent nine months growth creates momentum for strong final quarter
Herzogenaurach, Germany / Carlsbad, California (November 8, 2012) - Taylor Made Golf Company, Inc. d/b/a TaylorMade-adidas Golf Company (TMaG), the largest and most profitable golf company in the world, today announced strong Q3 results at $333 million, along with nine months sales of $1.34 billion exceeded prior year by +21% and sales in North America increased 13% currency-neutral in the third quarter.
Additionally, TMaG recorded significant currency-neutral, year-over-year growth in all categories for the first nine months of the year: metalwoods (+22%), irons (+16%), putters (+2%), balls (+8%), footwear (+18%), apparel (+6%) and bags (+69%).
TMaG's exceptional nine months was highlighted by continued enthusiasm in the marketplace about TaylorMade metalwoods, as the renowned RocketBallz fairway woods was the top-selling fairway wood model in the U.S. in both unit share and dollar share during the third quarter. TMaG likewise saw excellent product sell-through in the footwear category, particularly the new crossflex, a spikeless shoe that combines light weight with excellent cushioning and flexibility for long-lasting comfort. The crossflex was worn by TMaG Tour Staff professional Sergio Garcia in his victory in the Wyndham Championship on the PGA Tour.
TaylorMade expects continued growth in Q4, fueled in part by the October 23 launch of the innovative new RocketBladez irons. RocketBladez incorporates a "Speed Pocket" that promotes faster ball speed for more distance and a higher peak trajectory that lands on a steep, quick-stopping descent angle. Click here to watch the webcast introducing RocketBladez.
"The irons we're making now are so much more sophisticated than just a few years ago, with innovative technologies that allow us to enhance performance like never before," said Mark King, TMaG President and CEO. "Compare our RocketBladez irons to our competitors' and you'll find out very quickly how far we've advanced past all other brands."
About the adidas Group
The adidas Group is one of the global leaders within the sporting goods industry, offering a broad range of products around the core brands: adidas, Reebok, TaylorMade, Rockport and Reebok-CCM Hockey. Headquartered in Herzogenaurach, Germany, the Group has more than 46,000 employees and generated sales of over €13.3 billion in 2011.
About TaylorMade-adidas Golf
Headquartered in Carlsbad, California, TaylorMade-adidas Golf Company sells golf clubs, balls, clothing and accessories under the TaylorMade, adidas Golf, Adams Golf and Ashworth brands. TaylorMade-adidas Golf Company posted 2011 sales of over €1.0 billion.
About Adams Golf
Adams Golf designs, assembles, markets and distributes premium quality, technologically innovative golf clubs for all skill levels. Recently launched products include the Speedline Fast 12 drivers, Fast 12 LS drivers and the Speedline Fast 12 fairway woods, along with the Idea a12 OS irons and hybrids, Idea a12 hybrids, Idea Pro a12 irons and hybrids, Idea Tech V3 irons and hybrids, Redline irons, Idea a7 and a7 OS irons and hybrids, and Speedline 9088 UL drivers. Adams Golf also develops new products under the Yes! Putters, Women's Golf Unlimited, Lady Fairway and Square 2 brands. In 2011, net sales were approximately $ 97 million (€ 73 million).