Classic Golf is a wholly-owned subsidiary of CEC Properties, Inc. of Newport Beach, CA and a 50% partner of Diamond Turf, a turf farm based in Cordele, GA. Classic Golf Management was contracted to re-sod the 7,000 yard course at St. Simons with Tif Eagle and Tif Dwarf grasses. Both Classic and Diamond Turf specialize in Bermuda sod for fairways and greens.
CEC officials say in a prepared statement the increase in orders comes as good news to the firm, which suffered a 41.3% loss in net revenue for the first quarter due to weather-related problems and a reduction in the number players.
CEC generated $368,921 in golf course revenue for the first quarter, compared with $427,607 for the same period last year. First quarter revenue from golf course construction management dropped 35% to $275,040 from $424,538 for the first quarter of 2000.
Classic Golf manages six daily fee golf courses, including four in Georgia. It presently retains the rights to the Hickory Stick golf course to be built in Atlanta.
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