It’s been a very good year for the leading provider of Wi-Fi GPS systems for golf facilities, resorts and residential communities.
Their resurgence is accentuated by second quarter financial and operating results. “We have experienced a dramatic increase in sales over the same period last year. Sales for the first half of 2008 have nearly matched total sales in 2007,” stated GPSI vice president, Kevin Carpenter.
The rejuvenation has been buoyed by some key factors. The mid-June appointment of David Chessler as CEO and his immediate success with a refinancing plan has significantly improved the company’s liquidity and generated new sales initiatives.
“David’s experience in this industry, his success in asset based lending and his management skills identified him as the ideal choice for the company’s CEO,” said company director, Bart Collins. “Confidence in GPSI’s superior technology, quality personnel, customer support and established infrastructure is further evidenced by reinvestment from Greg Norman’s Great White Shark Enterprises and Dubai based Leisurecorp LLC.”
“Having been involved in the GPS golf industry for 14 years, I‘m very excited to join the GPSI team. I believe the company has the best products, patent portfolio and now the appropriate capital structure required to achieve its full potential. I look forward to working with the GPSI team to become the dominant player in this market,” said David Chessler.
“Our participation in Las Vegas at the recent PGA Expo was very successful. The reception from owners, managers and golf professionals was invigorating. The acknowledgement and affirmation of our product, new team, and re-emerging company as the major player in the GPS industry was especially gratifying,” added Carpenter.
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