FST Corp. Reports Significant Spike in Sales Following Tournament Wins in 2024
BOULDER, CO, May 08, 2025 (GLOBE NEWSWIRE) -- FST Corp. (NASDAQ:KBSX), a leading manufacturer and marketer of steel and graphite golf shafts and a provider of other golf-related services, today reported a positive correlation between professional golf tour wins by golfers using the company's golf shafts, and ensuing company revenue.
On the 2024 PGA Tour, golfers using clubs made with the company's KBS-branded shafts achieved wins in six tournaments – the Mexico Open, Valero Texas Open, Zurich Classic of New Orleans, Myrtle Beach Classic, Charles Schwab Challenge, and Rocket Mortgage Classic. In the two-week periods directly following these tournaments, the company achieved increases in sales of its golf shafts ranging from 9 to 102 percent compared to the identical 14-day periods in 2023.
Cumulatively, in the two-week periods immediately following these tour victories, FST achieved a 40.3 percent increase compared to the same 14-day periods in 2023.
During the 2024 LIV tour, golfers using clubs made with the company's shafts achieved wins in two tournaments -- the LIV Golf Las Vegas Event and the LIV Golf Miami Event. In the two-week periods directly following these tournaments, the company achieved cumulative increases in sales of its golf shafts of 47.0 percent compared to the identical 14-day periods in 2023.
The 2024 LPGA Tour featured eight victories by golfers using the company's shafts, with a cumulative 3.4 percent increase in two-week post-tournament shaft sales compared to the same 14-day periods in 2023.
Total two-week post-tournament sales improvements across all 16 tournaments in 2024 were 23.6 percent compared to the same period in 2023.
"This data, we believe, demonstrates a substantial correlation between the success of our shafts on the professional tour, and an improvement in revenue compared to the same year-ago periods," said FST chief executive David Chuang. "We further believe that the success of our shafts on the professional tour is largely the result of our R&D and manufacturing advances, which have produced demonstrable achievements in improved launch angle, superior control of golf ball trajectory, and enhanced shot distance without increased shaft weight."
Mr. Chuang said that the above-stated improvements in revenue are continuing to make "a strong contribution to the company's overall revenue performance."
Total revenue for 2024, he said, is projected to show an improvement of about 35 percent over 2023 levels.
From 2021 through 2024, the company's shafts achieved over 90 wins across the PGA Tour, LPGA, LIV, Korn Ferry Tour, and Presidents Cup Team.
About FST Corp.
Founded in 1992, FST Corp. manufactures and sells golf club shafts, along with other golf-related items, to golf equipment brands, OEMs, distributors, and consumers via the company's KBS Golf Experience retail outlets. FST's equipment, marketed under the KBS brand, is utilized by golfers at all levels, including many professional players participating in the PGA and other major golf associations. The company's product portfolio, retail presence, and golf-related services are part of a vertically integrated business model that has established the KBS brand on a global scale and created significant competitive advantages over peer brands. The company's growth strategies currently position it for expansion into the PRC and other under-tapped golf shaft markets.
Forward-Looking Statements
This press release contains forward-looking statements regarding future expectations, plans, and prospects, as well as statements that are not historical facts. These statements involve known and unknown risks, uncertainties, and assumptions based on the Company's current expectations about events that may impact its financial condition, results, strategy, and needs. Forward-looking statements can often be identified by terms such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely," and similar expressions.
The Company assumes no obligation to update or revise these statements to reflect new events or changes in expectations, except as required by law. While these statements reflect reasonable expectations, actual results may differ materially. Investors are encouraged to review the Company's registration statement and SEC filings for additional information on factors that may impact future results.
Company Contact:
FST Corp.
No. 3 Industrial First Road
Minxiong Township,
Chiayi County, Taiwan
Office: +886-5-221-2555
Email: [email protected]
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: [email protected]
