Feel Golf Company Inc. (FEEL) Reports First Quarter Results

By @ibtimes on

Feel Golf Company Inc. is a leading innovator and manufacturer of high performance golf products. The company manufactures and markets golf clubs worldwide. It is the only golf company whose products are designed, built and backed by PGA members.

The company today announced its financial results for the first quarter ending March 31, 2011. Net sales for the quarter increased 247% to $235,131 compared with $67,618 for the same period last year. Gross margin increased 329%, or $124,490, as compared to the same period in 2010. However, the net loss increased from $184,307 last year to $420,049 this year.

Feel Golf though was pleased with the overall increase in sales in the first quarter, especially considering its Pro Line acquisition closed halfway through the quarter. Pro Line markets a patented golf ball retriever and has the number one selling brand in America. Sales from this business from the date of acquisition on February 11, 2011 totaled $180,011, or 76% of the company’s total sales.

The president and CEO of Feel Golf, Lee Miller, commented on his company’s results, “Our financial results for the first quarter showed strong improvement over prior periods. We look forward to the remainder of the year, especially the second quarter which will include a full quarter of sales of the combined companies.”

For more information about Feel Golf, please visit the company’s website at www.feelgolf.net

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