Adams Golf (OTCBB:ADGO) has significantly invested in its tour strategy for 2008. In 2007, nine Adams Golf tour staff pros combined to win 12 times on the Champions, Nationwide and LPGA Tours. Adams Golf also achieved another year of hybrid dominance on tour as its hybrids were played by more pros on the PGA, Champions and Nationwide Tours, combined, than any other manufacturer’s hybrids. Additionally, Adams Golf sustained its leadership position on the Champions Tour, arguably the keystone of the company’s strategy over the last six years.
In 2008, the Adams Golf brand is expected to get a boost in exposure on the PGA Tour with the signings of Rory Sabbatini and Aaron Baddeley, the 11th and 18th-ranked players in the world, respectively. Also representing Adams Golf on the PGA Tour are Tommy “Two Gloves” Gainey and Brad Elder. After bursting onto the LPGA scene last season with Brittany Lincicome winning the Ginn Open, the company continues building its women’s tour staff with Brittany Lang, Lindsey Wright and Taylor Leon.
The Champions Tour continues to be an area of priority with 10 tour pros representing the brand including the legendary Tom Watson and two-time Masters Champion, Bernhard Langer. Rounding out the Champions Tour staff will be Brad Bryant, Scott Hoch, Dana Quigley, Allen Doyle, Jerry Pate, D.A. Weibring, R.W. Eaks and Des Smyth.
Last but not least, to expand its international reach and to support future growth in its European business, Adams Golf has hired a tour representative and will be putting a tour trailer on the European Tour for the 2008 season.
“We’re extremely proud of our 2008 tour staff and believe these players will deliver valuable exposure and represent our brand admirably,” said Chip Brewer, Adams Golf president and CEO. “It’s a big step for us but it also seems like a sound and natural decision based on the company’s growth over the last 5 years. These investments are consistent with our stated strategy of reinvesting aggressively in our brand in order to drive long-term earnings potential and shareholder value. We recognize that these investments may have a negative impact on profitability in the short term or until we are able to generate sufficient revenue growth to cover them. It’s our belief that this is a good long-term strategic decision and that any short-term setback will be made up for in long-term value.”
This press release contains "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The statements include, but are not limited to statements regarding our ability to continue manufacturing products that are commercially acceptable to consumers and statements using terminology such as "may," "will," "expect," “seems,” "intend," "estimate," "anticipate," "plan," "seek," “belief” or "believe." Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions related to certain factors including, without limitation, the following: inability to generate sufficient revenue growth to cover tour branding strategy investments; product development difficulties; assembly difficulties; product approval and conformity to governing body regulations; competing product introductions; patent infringement risks; the ability to protect intellectual property rights; market demand and acceptance of products; the impact of changing economic conditions; the success of our marketing strategy; our dependence on a limited number of customers; business conditions in the golf industry; reliance on third parties, including suppliers; actions of competitors, including pricing, advertising and competing product; the management of sales channels and re-distribution; and one-time events and other factors detailed under "Risk Factors" in our 10-K's, 10-Q's and other Securities and Exchange Commission filings. These filings can be obtained by contacting Adams Golf Investor Relations.
Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the expectations may prove to be incorrect. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Except as required by federal securities laws, Adams Golf undertakes no obligation to publicly update or revise any written or oral forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this press release. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the applicable cautionary statements.