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Callaway Golf Co

BUSINESS
July 8, 2001 | James F. Peltz
Ely Callaway, a feisty, daring former textile executive and vintner who revolutionized golf for pros and duffers alike with oversized metal clubs and in the process built an $840-million company while in his 70s, died Thursday of pancreatic cancer. He was 82. Callaway, whose Big Bertha driver quickly became a staple in golfers' bags after its debut a decade ago, had retired as Callaway Golf Co.'s chief executive after the cancer was found in April but had remained chairman of the board.
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BUSINESS
May 16, 2001 | Associated Press
Ely Callaway, the 81-year-old founder of Callaway Golf Co., retired as chief executive and president, citing health problems. Ron Drapeau, senior executive vice president of manufacturing, was named to succeed him in those positions, effective immediately, the Calabasas-based company said. Callaway, who had planned to step down later this year, will remain as chairman. Last month, a tumor was discovered on his pancreas during surgery to remove his gall bladder.
BUSINESS
August 18, 1999 | A Times Staff Writer
Ely Callaway, the colorful founder of Callaway Golf Co., designated a successor to take over for him as chief executive of the golf club maker when he retires, which could be between now and next year. Chuck Yash, who has been president and chief executive of Callaway's subsidiary, Callaway Golf Ball Co., will serve as president of the Carlsbad-based parent in the meantime. Yash, 50, will also continue to head the golf ball unit, which will introduce its first product in January.
BUSINESS
October 27, 2005 | From Times Staff and Wire Services
Callaway Golf Co. on Wednesday posted a narrower third-quarter loss as a 72% jump in sales exceeded Wall Street expectations, but earnings were hampered by restructuring costs. Carlsbad-based Callaway said it lost $4.8 million, or 7 cents a share, compared with a loss of $35.9 million, or 53 cents, a year earlier. Revenue rose to $220.6 million.
BUSINESS
September 27, 2002 | From Reuters
Callaway Golf Co. appeared to be nearing the rough after warning Thursday that its third-quarter and full-year revenue and profit will fall short of targets. Sales of its new titanium driver, it said, may not offset softness in the golf equipment business. Citing weak consumer spending in the United States, Japan and elsewhere, Callaway sees third-quarter sales of $155 million to $160 million and earnings per diluted share of 13 cents to 15 cents.
BUSINESS
March 4, 1998 | Bloomberg News
A U.S. district judge denied a motion by Callaway Golf Co. to prevent Evenflo & Spalding Holding Corp.'s Spalding Sports Worldwide Inc. from selling golf balls in packaging that uses Callaway Golf's name. After a one-hour hearing, Judge Alicemarie Stotler in Santa Ana dismissed Callaway's lawsuit that sought a temporary injunction to prevent Spalding from shipping the Top-Flite Ball/Club System C golf ball, which it says is designed to match Callaway's clubs.
BUSINESS
March 4, 1998 | Bloomberg News
A U.S. District Court judge denied a motion by Callaway Golf Co. to prevent Evenflo & Spalding Holding Corp. from selling golf balls in packaging that uses Callaway Golf's name. After a one-hour hearing, U.S. District Judge Alicemarie Stotler dismissed a lawsuit by Carlsbad-based Callaway that sought a temporary injunction to prevent Spalding from shipping the Top-Flite Ball / Club System C golf ball, which it says is designed to match Callaway's clubs.
BUSINESS
July 27, 2006 | From the Associated Press
Callaway Golf Co. of Carlsbad, Calif., said second-quarter profit jumped 23% but fell short of Wall Street expectations. Callaway said it earned $22.5 million, or 33 cents a share, compared with $18.4 million, or 27 cents, a year earlier. Results include 3 cents a share in stock-option costs and 2 cents in one-time charges. Excluding items, Callaway earned 38 cents a share, less than the 45 cents expected by analysts polled by Thomson Financial. Revenue grew 5.8% to $341.8 million.
BUSINESS
May 2, 2008 | From Times Staff and Wire Reports
Callaway Golf Co. posted quarterly earnings that beat Wall Street estimates and said it now expected full-year profit at the low end of its forecast. The Carlsbad-based company, which has been cutting costs and making its operations more efficient, said first-quarter net income grew to $39.7 million, or 61 cents a share, from $32.8 million, or 48 cents, a year earlier. The results included a 1-cent-a-share charge related to margin improvement efforts. Analysts had been looking for 60 cents a share, according to Reuters Estimates.
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