Golfsmith Reports Q4 EPS of $(0.35) vs. $(0.24)

Golfsmith International Holdings, Inc., GOLF today announced financial results for the fourth quarter. Net revenues increased 14.2% to $72.9 million as compared to $63.9 million in the fourth quarter of 2009. Comparable store sales increased 6.4% while sales from the Company's direct-to-consumer-channel increased 30.6%. Net loss for the fourth quarter of fiscal 2010 totaled $5.7 million or $0.35 per share. This compares to a net loss of $6.3 million or $0.39 per share for the fourth quarter of fiscal 2009. Excluding store closing, lease termination and asset impairment charges net loss was $4.6 million, or $0.28 per share.