March 15, 2005 – Independent golf industry information and insight provider Pellucid Corp. (www.pellucidcorp.com) continued its revenue and client base growth in 2004.
Continuing its steady march of progress since entering the golf industry in 2001, Pellucid President Jim Koppenhaver reported a doubling of the company’s revenue for the most recent calendar year and healthy growth in the client base to over 125 unique clients currently purchasing products and services.
Explaining the positive progress, Koppenhaver stated, “While no one will accuse us of being an overnight sensation, the combination of solid revenue growth, expanding our client base and the 90%+ renewal rates on our recurring services indicate that we’re providing fresh insight that delivers value for clients needing consistent, unbiased analysis from which better-informed business decisions can be made.”
Revenue growth came through a combination of expanded adoption of existing services (such as the Golf Local Market Analyzer and Outside The Ropes newsletter) as well as new reports and services introduced during the year (Golf Consumer Franchise Health Report and Weather Impact Analysis):
• Outside The Ropes grew the paid subscriber base to over 400 in only its 2nd year
• The Golf Local Market Analyzer (annual licenses and ad hoc project work) was used as the information foundation in over 250 facility or market analyses and is now the tool of choice for 5 of the top 10 service providers in this field
• The Golf Consumer Franchise Health report saw modest but healthy initial distribution and provided the factual basis for myth-busting on the female golfer base, growth in Junior Golf as well as continuing to document sizeable impact of annual golfer attrition in excess of 2MM golfers per year
• The revolutionary Weather Impact Analysis providing Playable Hours, Capacity Rounds and % Utilization from individual facility to national level generated positive net income in only 2 months also quantifying for the first time the aggregate impact of weather (nationally 2004 was up 2-3% vs. 2003)
Significant progress was also made against the objective of having the Top 5 in every key industry discipline as part of the client base:
• Equipment manufacturers – 2 of the Big Four are current clients
• Facility owner/operators – 3 of the Top 5 are current clients
• Lenders – 2 of the Top 5 are current clients
• Developers – 2 of the Top 5 are current clients
• Consultants & Appraisers – 4 of the Top 5 are current clients
• Facility equipment suppliers – 3 of the Top 5 are current clients
Koppenhaver concludes, “While the industry special interest groups and power brokers would like to paint a picture of Pellucid playing outside the mainstream, progressive industry thinkers are increasingly voting with their wallets and collaborative efforts to reroute the entire river of golf’s business culture and paradigms.”
Based on continued momentum evidenced in Q1 2005 results, it would appear that an increasing share of golf’s relatively meager budgets for information and insight will migrate to independent analysis and recommendations on the key business issues impacting golf’s stakeholders in this challenging environment.
More information on Pellucid, its products and services can be obtained at www.pellucidcorp.com.
