PLANO, Texas, June 19, 2008 (PRIME NEWSWIRE) -- Adams Golf, Inc. (Nasdaq:ADGF) has now won the hybrid count at both major championships in 2008, after accounting for over one-third of all hybrids in play at the 108th U.S. Open. By winning the hybrid count at a majority of the year's PGA Tour events, including both the Masters and U.S. Open, as well as all of this year's Nationwide and Champions tour events, Adams Golf has made significant strides in brand presence and equipment preference on tour.
"By leading the hybrid category at the U.S. Open and the Masters, as well as week to week on the PGA, Champions and Nationwide Tours, we believe it shows that our brand is stronger than ever and that we're continuing to develop world-class product that the best players in the world can put their trust in," said Tim Reed, Adams Golf Vice President of R&D. "The challenging course configurations and the added length of Torrey Pines last week required greater precision, more distance and extra forgiveness -- all benefits that our hybrids are designed to offer. And the fact that we were the hybrid of choice is something we're very proud of."
According to the Darrell Survey, there were 13 more Idea hybrids, including the new Idea Pro Gold, in play last week at Torrey Pines than the next closest competitor. Additionally, there were 11 different hybrid brands played among the field of 156 golfers, with Adams Golf being the top brand of choice.
Along with having the most hybrids in play at the two major championships, there have been a total of 682 Idea hybrids played on the PGA Tour in 2008, making it the top brand on tour. Furthermore, four different tournament champions in 2008 played Idea hybrids en route to their victories. Adams Golf has also won every hybrid count on the Champions Tour dating back to the end of the 2005 season, and every hybrid count on the Nationwide Tour since August 2006.
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 using terminology such as "may," "will," "expect," "forward," "future," "intend," "estimate," "anticipate," "plan," "seek" or "believe," and "belief." 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: the ability to maintain historical growth in revenue and profitability; the ability to generate sufficient revenue to cover our investments; retail inventory levels and their effect on future orders; the ability to generate shareholder value; product development difficulties; product approval and conformity to governing body regulations; assembly difficulties; competing product introductions; patent infringement risks; uncertainty of 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; the success of our tour strategy; our dependence on a limited number of customers; business conditions in the golf industry; reliance on third parties, including suppliers; the actions of competitors, including pricing, advertising and product development risks concerning future technology; the management of sales channels and re-distribution; investor audience, interest or valuation; and events and other factors detailed under "Risk Factors" in our Securities and Exchange Commission filings. These filings can be obtained by visiting the corporate governance section of our website at www.adamsgolf.com or by contacting Adams Golf Investor Relations at InvestorInfo@adamsgolf.com.
Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. 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.
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