AUSTIN, Texas—Golfsmith International Holdings Inc., which sells golf gear and operates a golf school, on Wednesday posted a deeper loss in the first quarter, as golfers played fewer rounds amid the economic slowdown.
For the quarter ended March 29, the company lost $5.4 million, or 34 cents per share, compared with a loss of $4.9 million, or 31 cents per share, a year ago.
The company said its results included charges of $1.8 million, or 11 cents per share related to restructuring and severance costs.
Revenue grew 2 percent to $79.2 million from $77.7 million, in the year-ago period. Golfsmith said its results came in below its expectations due in part to a decline in rounds played and the challenging economic environment.
Analysts polled by Thomson Financial expected a loss of 26 cents per share on sales of $78.7 million.
Shares lost 4 cents to $2.56 in aftermarket trading, after ending the regular session up 27 cents at $2.60.
