October 18, 2006 |
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.
July 27, 2006 |
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.
April 12, 2006 |
Callaway Golf Co. warned that profit and revenue would miss Wall Street targets for the first quarter after the golf equipment maker delayed the release of products. The Carlsbad, Calif.-based company said it was expecting earnings per share excluding items of 34 cents to 36 cents on net sales of about $300 million. The company is scheduled to report first-quarter results April 26.
February 11, 2006 |
Callaway Golf Co. sued Fortune Brands Inc.'s Acushnet Co. unit over a patent for polyurethane covers on golf balls. Acushnet's Pro V1 golf balls infringe a patent for the covers on multilayer solid-core golf balls that have become the standard for balls used by professional golfers, Carlsbad, Calif.-based Callaway said in a lawsuit filed in federal court in Delaware. The suit seeks damages for lost profit and sales.
January 26, 2006 |
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.
December 21, 2005 |
Callaway Golf Co., the world's largest golf-club maker, signed 17-year-old Morgan Pressel to a multiyear endorsement agreement a day after she was granted full status on the LPGA Tour. Pressel, the winner of this year's U.S. Women's Amateur, will use Callaway's clubs and balls and carry a bag made by the Carlsbad, Calif.-based company. She'll also wear the company's logo on her visor when on the course, Callaway said in a news release. Financial terms weren't disclosed.
September 30, 2005 |
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.
August 4, 2005 |
A second bidder has teed up an offer for Callaway Golf Co., increasing the chances that the world's largest club manufacturer will be taken private, according to sources with knowledge of the situation. Bain Capital Inc., a Boston-based investment firm, and MacGregor Golf, one of the oldest names in golf equipment, put a joint, all-cash offer on the table a week ago that values Callaway, best known for its Big Bertha line of clubs, at as much as $1.24 billion, sources said.