Sportswear and golf apparel designer Ashworth Inc on Thursday reported a 116.4 per cent hike in fourth-quarter net income to $1.9m or $0.14 per diluted share. This compares to a profit of $877,000 or $0.07 per diluted share in the same quarter of last year.

For the fourth quarter ended 31 October 2004, consolidated net revenue rose 49.3 per cent to a record $48.3 million, from $32.3m for the fourth quarter of fiscal 2003.

Domestic sales increased 48.2 per cent to $41.1m from $27.7m reported the same quarter of the prior year.

Net revenue from the international segment increased 56.1 per cent to $7.2m from $4.6m in the same period of the previous year.

Fourth-quarter revenue from Ashworth branded merchandise increased 9.1 per cent to $27.6m and revenue from Callaway Golf apparel increased 49.9 per cent to $10.5m during the quarter.

For fiscal 2004, consolidated net revenue increased 15.8 per cent to a record $173.1m compared to $149.4m for fiscal 2003.

Consolidated net income for fiscal 2004 was $8.2m or $0.60 per diluted share, up from $7.3m or $0.56 per diluted share in fiscal 2003.

Randall Herrel Sr, chairman and chief executive officer said: "Adding new brands and three new distribution channels to our multi-brand, multi-channel growth strategy has given us record results for this fiscal year and sets the stage for an even stronger fiscal 2005 performance."