CAMARILLO, CA - NEWTON GOLF Company (NASDAQ:SPGC), known for its innovative golf equipment, has announced the availability of its Newton Motion shafts in Japan. Golfers in the country can now purchase these shafts at 50 of the largest golf retailers and through GDO, Japan's leading e-commerce platform.
The Newton Motion shafts feature four key technologies: Elongated Bend Profile, Kinetic Storage Construction, Newton Symmetry360 Design, and Variable Bend Profile. These designs are aimed at enhancing performance for golf enthusiasts and professional players alike.
Shige Okabe, Newton Golf’s Sales Representative for Japan, expressed confidence in the product's potential impact on the Japanese market, which is recognized as the second-largest golf market globally.
The shafts have already seen success in the United States, with prominent PGA TOUR Champions players using them. Doug Barron, for instance, won a major championship using a Newton Motion Shaft.
The Newton Motion shafts are sold ready to play, including a shaft adapter and a Lamkin Crossline 360 grip, with various adapter options available. They are manufactured in the company's facility in St. Joseph, Missouri.
This launch is part of NEWTON GOLF's strategic expansion, aiming to manufacture and assemble most of its products in the United States while also exploring growth into golf apparel and other related product lines. The company's products are available through resellers, its websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.
The information is based on a press release statement from NEWTON GOLF.
In other recent news, Newton Golf, a Sacks Parente company, has named Doug Samuelson as its new Chief Financial Officer, following the resignation of former CFO Steve Handy. Samuelson's appointment is part of the company's aggressive growth plans and he is expected to contribute to its continued revenue growth. In parallel, Sacks Parente Golf, Inc. has been making strategic moves, including regaining compliance with Nasdaq's minimum bid price requirement through a 1-for-10 reverse stock split.
The company also confirmed the appointment of Gregor Campbell as its Executive Chairman. Campbell, previously serving in an interim capacity, will receive an annual salary of $240,000 and has been granted an option to purchase 400,000 shares of the company's common stock. These recent developments demonstrate Sacks Parente Golf's commitment to providing value to its shareholders and strengthening its executive team.
The company is actively interviewing potential candidates to replace Handy, ensuring a smooth transition. These are recent developments in the company's journey, reflecting their commitment to maintaining their listing on a major stock exchange and providing value to its shareholders, while also strengthening its executive team.
InvestingPro Insights
As NEWTON GOLF (NASDAQ:SPGC) expands its presence in the Japanese market, investors should consider some key financial metrics and insights from InvestingPro. The company's revenue growth has been impressive, with a 530.73% increase in the last twelve months as of Q2 2024. This aligns with the company's strategic expansion and product launch in Japan, the world's second-largest golf market.
However, it's important to note that despite strong revenue growth, NEWTON GOLF is currently not profitable. An InvestingPro Tip indicates that analysts do not anticipate the company will be profitable this year. This suggests that the company is in a growth phase, investing heavily in expansion and product development.
The stock's recent performance has been challenging, with a significant price decline of 84.77% over the past year. An InvestingPro Tip points out that the stock is trading near its 52-week low, which could present an opportunity for investors who believe in the company's long-term potential.
For those interested in a deeper analysis, InvestingPro offers 18 additional tips for NEWTON GOLF, providing a comprehensive view of the company's financial health and market position.
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