Wasatch Fiber Group Inc., a provider of high performance graphite golf shafts manufactured under the name Carbon Fiber Products, had net income of $27,759 in the quarter ending Oct. 31 compared to a net income of $2,521 in the same period a year ago.
The company also reported that sales advanced 53 percent to $581,057 from $380,468 in the same quarter a year ago.Kurt Moore, director of investor relations, said the increase in sales was attributable to growth in all three market segments - original equipment manufacturers, custom club builders and pro shops.
"We're experiencing increased demand for our products across the board," Moore said.
Founded in 1986, Wasatch and its subsidiaries are headquartered in Ogden. The company's principal subsidiary, Carbon Fiber Products, manufactures custom and commercial graphite golf shafts for woods and irons.
Two of Carbon Fiber's largest customers in the fast-growing golf industry are clubmakers Wilson and Dunlop. Other customers include custom golf club builders and more than 1,200 pro shops throughout the United States.