Golf-inspired sports firm Ashworth reported a 52% dive in fourth-quarter earnings but announced a higher full-year profit.

Quarterly loss was US$4.4m compared to last year's loss of $2.2m. Net revenue, meanwhile, dipped 9.3% to $50.2m compared to $55.3m previously.

Full-year net income was $1m compared to a loss of $0.7m a year before. At the same time, revenue grew 12.8% to $38.5m from $34.1m.

Ashworth CEO Peter M Weil said: "During the past several months, our board and new management team have thoroughly reviewed the company's businesses and strategic priorities.

"Our team is making progress in a number of key areas, such as supply chain efficiencies and implementing a management information system."