Sacks Parente Golf Reports Q1 Earnings Loss

by | May 1, 2024 | Business

Sacks ParenteSacks Parente Golf (NASDAQ: SPGC) recorded a loss of $1.193 million on revenue of $350,00 in Q1 of 2024.   The company, which manufactures putters and Newton shafts, had Q1 2023 sales of $90,000 and a loss of $897,000.

Despite the loss to the bottom line,  SPGC Executive Chairman Scott Campbell put forward a positive spin.

“Our marketing efforts – especially through paid social advertising – over the last six months for both our premium line of putters and our advanced Newton Motion replacement shafts are helping to build brand awareness and accelerate our revenue growth,” he said.  “The launch of the Newton Motion Driver shaft in November has been met with very positive early adoption, including from some professionals, which gives us confidence that the recent launch of the Newton Motion Fairway Wood shaft will be met with similar success.’’

Much of  the company’s e-revenue growth in the first quarter,  Campbell said, was tied to traction from the Newton Motion Driver shaft introduction.

“We expect this momentum to continue, as April will be a record revenue month for us and we see second quarter revenue doubling that from the first quarter,’’ Campbell said. “We are entering the seasonally stronger golf season throughout the U.S., and along with our continued traction in key international markets, we look forward to continued brand building and revenue growth.”

sacksparente.com

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<a href="https://golfonemedia.com/author/steve_pike/" target="_self">Steve Pike</a>

Steve Pike

Steve “Spike” Pike is a lifelong journalist whose career covers Major League Baseball, the NFL, and college basketball. For the past 26 years, Spike has been one of the more respected voices in the golf and travel industries, working for such publications as Golfweek, Golf World, and Golf Digest for The New York Times Magazine Group. In 1998, Spike helped launch the PGA.com website for the PGA of America. As a freelance travel and golf writer, Spike’s travels have taken him around the world. He has played golf from Pebble Beach to St. Andrews, walked the Great Wall of China, climbed an active volcano in the Canary Islands, been on safari in South Africa, and dived with sharks off Guadalupe, Baja California.