Net loss at the high-end golf equipment maker was slashed by nearly a third to $2,395,000 from a loss of $8,340,000, as revenues more than doubled to $2,274,000 from $1,073,000 prior. Sales were primarily driven by strong demand for its Motion shaft and direct-to-consumer and professional club-fitting channels. Gross margin was 25.0%, down from 72.4%, due to inventory adjustments during the quarter, coupled with higher labor costs associated with meeting increased demand. Operating expenses grew 42%, with research and development gobbling up the lion’s share.

For the full year, net loss narrowed ... Log in to view full article.