Home / Knowledge / News / Apparel/Garments / Callaway Golf H1 figures indicate return to profitability
Callaway Golf H1 figures indicate return to profitability
25
Jul '14
Callaway Golf Company announced its first half and second quarter 2014 financial results, demonstrating its turnaround is well underway and positioning it for a return to profitability for the full year. 

Despite softer than expected market conditions, Callaway reported for the first half of 2014 a 9% increase in sales driven by growth in all product categories:  woods (+8%), irons (+14%), putters (+9%), golf balls (+7%) and accessories and other (+5%). 

Additionally, income from operations increased 40% to $72 million and fully diluted earnings per share increased 12% to $0.66. These increases were driven by the increased sales and improvements in gross margins of 170 basis points, which more than offset a planned increase of $9 million in operating expenses and a $14 million decrease in other income due to adverse changes in foreign currency contract values.

The 2014 results also benefitted from a $9 million decrease in pre-tax charges related to the cost reduction initiatives that were completed in 2013.

For the second quarter, the Company had previously provided guidance that its sales and earnings would show a decrease versus the second quarter of 2013 as a result of a late start to the 2014 golf season, high retail inventory industry wide, and anticipated promotional activity during the second quarter.

The Company's second quarter results reflect those market conditions with sales being down 7%, slightly more than the Company's prior guidance of flat to down 5%, and with earnings declining to $0.04 per diluted share compared to $0.12 per diluted share in 2013, which was slightly better than the Company's prior guidance of breakeven to slightly profitable.

These second quarter results were consistent with the Company's prior full year guidance and the Company today has confirmed its full year guidance, estimating full year net sales of $880 to $900 million and diluted earnings per share of $0.12 to $0.16.

Click here to view more.

Callaway Golf


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search