Callaway Golf narrows loss for 4th quarter
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Callaway Golf Co. reported a narrower fourth-quarter loss, attributing it to restructuring initiatives.
For the three months ended Dec. 31, the Carlsbad, Calif., maker of golf clubs and balls posted a loss of $10.2 million, or 15 cents a share, compared with a loss of $18.7 million, or 27 cents, a year earlier. Revenue increased 6.4% to $179.9 million.
Excluding one-time items, Callaway posted a loss of 11 cents a share, compared with a loss of 22 cents a year earlier.
Analysts surveyed by Thomson Financial had expected a loss of 13 cents a share on revenue of $173.3 million.
Callaway shares fell 1 cent to $16.76 in extended trading after gaining 9 cents to close at $16.77.
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