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Callaway Golf Co

BUSINESS
October 18, 2006 | From the Associated Press
Shares of Callaway Golf Co. slumped Tuesday after the maker of golf equipment and apparel said it expected to post a wider third-quarter loss because of slow sales of its Top-Flite and Hogan brand products. Preliminary results indicate that the company widened its loss to 17 cents to 19 cents a share in the third quarter from 7 cents a year earlier. Excluding stock option expenses and other charges, Callaway said it expected to post a per-share loss of 12 cents to 14 cents.
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BUSINESS
October 28, 1999
Carlsbad-based golf club maker Callaway Golf Co. reported sharply higher third-quarter earnings of $17.6 million, or 25 cents per share, compared with $5.8 million, or 8 cents, a year ago. Analysts' consensus was 22 cents, according to First Call/Thomson Financial. Sales rose 6% to $183.3 million from $172.9 million. The company said U.S. sales fell 7% to $103.6 million and international sales climbed 30% to $79.7 million, with sales in Japan exceeding expectations.
BUSINESS
October 22, 1998 | From Bloomberg News
Callaway Golf Co. said Wednesday that third-quarter profit fell 84% as demand for its golf clubs waned and prices fell because of stiffer competition. Carlsbad-based Callaway also said its directors are meeting to discuss a restructuring plan to be unveiled possibly as soon as next week. The plan will include taking charges against fourth-quarter earnings and may also include layoffs. Net income fell to $5.84 million, or 8 cents a share, from $37 million, or 52 cents, a year earlier.
BUSINESS
January 26, 2006 | From Reuters
Callaway Golf Co. posted a narrower loss in its fourth quarter, beating Wall Street estimates, as the company continued restructuring efforts and sales improved. The company said its net loss was $18.7 million, or 27 cents a share, compared with a loss of $28.5 million, or 42 cents, a year earlier. The results include a charge of 5 cents a share related to the integration of the company's Top-Flite operations and ongoing restructuring.
BUSINESS
May 14, 1998 | From Bloomberg News
Shares of Callaway Golf Co. fell about 10% on Wednesday after the golf club maker said currency turmoil in Asia and increased price competition could cut its second-quarter earnings to about 50% below analysts' estimates. President and Chief Executive Donald H. Dye said Callaway's earnings could be as much as 30 cents a diluted share less than analyst expectations.
BUSINESS
December 31, 1996 | KIMBERLY SANCHEZ, TIMES STAFF WRITER
Callaway Golf Co. said Monday that it has won a preliminary injunction against Impression Golf of Huntington Beach preventing Impression from purchasing, advertising or selling clubs that Callaway alleges are illegal knock-offs of its popular Big Bertha models. Carlsbad-based Callaway said illegal copies of its stainless steel Big Bertha clubs--legitimate versions of which retail for about $285 each--as well as its other models, cost it several million dollars a year in lost sales.
BUSINESS
September 30, 2005 | Greg Johnson, Times Staff Writer
Callaway Golf Co. said Thursday that it would cut 500 jobs as it consolidates manufacturing, trims its sales force and squeezes costs from other parts of its operations. The restructuring, expected to stretch into 2007, aims to reduce annual operating costs by $70 million. Fifty employees were let go Thursday at the company's headquarters in Carlsbad in San Diego County.
BUSINESS
July 1, 2003 | James F. Peltz, Times Staff Writer
Callaway Golf Co. agreed Monday to buy ailing club and ball maker Top-Flite Golf Co. for about $125 million. Callaway, the Carlsbad, Calif.-based maker of Big Bertha drivers and other high-end clubs, said the proposed deal was part of a Chapter 11 bankruptcy filing by privately held Top-Flite, based in Chicopee, Mass. Formerly known as Spalding Sports World, it changed its name after selling the Spalding line to Russell Corp. in April.
BUSINESS
July 22, 2003 | Karen Robinson-Jacobs, Times Staff Writer
A Delaware bankruptcy judge is expected to decide Wednesday whether Callaway Golf Co. is entitled to preferred status in its bid to acquire bankrupt Top-Flite Golf Co. Callaway, the Carlsbad, Calif.-based maker of Big Bertha drivers and other golf clubs, said last month that it had agreed to buy the golf club and ball maker for about $125 million as part of a Chapter 11 bankruptcy filing by privately held Top-Flite.
NEWS
August 3, 1999 | From Reuters
Callaway Golf Co., which took the golf world by storm by proving that casual players will pay hundreds of dollars for a club made of space-age materials, is taking a swing at golf balls. But the Carlsbad-based company is expecting a more modest reaction to its entry next year into the highly competitive market for premium-priced golf balls.
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