Sportswear firm Ashworth Inc has posted a 9.5 per cent year-on-year increase in consolidated net revenue for the fourth quarter.

The Californian company, a licensee of Callaway Golf apparel, reported a rise in revenue to $32.2 million for the quarter, up from $29.4m in the same period last year.

Consolidated net income for the quarter, meanwhile, reached $877,000, compared to $550,000 in fourth quarter 2002.

According to CEO Randall Herrel, Ashworth's fourth quarter results represented a "significant improvement" on comparable periods.

"This performance is notable in light of a continuing weak industry and a challenging economic environment during the period," he said.