FST Gets $3M Buyback Authorization as 2Q Revenue Grows

Dow Jones07-29

FST said its board authorized a $3 million stock buyback program after the company reported higher revenue in the second quarter.

The company, which makes shafts for golf clubs and provides other golf-related services, reported a second-quarter loss of $1 million, or 2 cents a share, compared with a loss of $3 million, or 7 cents a share, a year earlier.

Revenue rose 9.7% to $12.6 million, driven by higher aftermarket sales in the company's steel and graphite lines.

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