Dorian Hargrove 1:30 p.m., May 3
Golf Clothes Maker Ashworth May Sell Company; Stock Plunges 21.6 Percent
Carlsbad golf clothing maker Ashworth Inc. announced late yesterday afternoon (Sept. 9) that it is "exploring strategic alternatives, including the sale of the company" -- generally, an announcement that a company is fishing for a buyer. The stock is now sharply cheaper for anyone thinking of a purchase. It is down 21.6 percent this morning (Sept. 10) to $3.13. The company announced yesterday afternoon that for its third quarter it lost $9.6 million, or 65 cents a share, down from a loss of $5.6 million or 39 cents a share a year earlier. Revenue declined 9 percent to $45.2 million.