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Acushnet Holdings Corp. Announces
Fourth Quarter and Full Year 2016 Financial Results,
Commences Quarterly Cash Dividend
Fourth Quarter and Full Year 2016 Financial Results(1)
· Fourth quarter net sales of $329.8 million, up 3.0% year over year, or 1.3% in constant currency
· Full year net sales of $1,572.3 million, up 4.6% year over year, or 4.5% in constant currency
· Fourth quarter net loss attributable to Acushnet Holdings Corp. of $0.2 million, up $20.3 million year over year
· Full year net income attributable to Acushnet Holdings Corp. of $45.0 million, up $46.0 million year over year
· Fourth quarter Adjusted EBITDA of $38.1 million, up 28.9% year over year
· Full year Adjusted EBITDA of $228.4 million, up 6.4% year over year
Quarterly Cash Dividend
· Declares first quarterly cash dividend of $0.12 per share; $8.9 million on an aggregate quarterly basis
FAIRHAVEN, MA March 22, 2017 Acushnet Holdings Corp. (NYSE: GOLF) (Acushnet), a global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the three and twelve months ended December 31, 2016.
Wally Uihlein, Acushnet President and CEO, said, 2016 was a good year for Acushnet Holdings as we continued to execute on our proven strategy and strengthen our relationships with dedicated golfers and trade partners. We are pleased with how our team delivered solid revenue and Adjusted EBITDA growth in a year highlighted by industry right-sizing. We are also encouraged by indications that the industry long-term metrics appear to be stabilizing. Looking forward, we feel very good about our market position and opportunity for continued success.
Uihlein continued, We are confident in our strategy and ability to execute into the future. Our Board of Directors shares this confidence and today declared our first quarterly cash dividend of $0.12 per share.
The following information was filed by Acushnet Holdings Corp. (GOLF) on Wednesday, March 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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