Callaway announced the launch of the new Solaire line of golf clubs and golf balls for female golfers
Callaway announced that its new line of White Ice putters and Jaw wedges will be in stores November 15
Callaway's business suffered in Q3 of 2009, reporting a net loss of $16 million for the quarter. However, the company expects sales to pick up as the 2012 Olympics draw near. Another bright spot was its sales in Asia, as Asian nations outside of Japan registered $21 million in sales, a 13% increase from the year before
Callaway announced its Q3 2009 results, including $191 million in revenue and -$13.43 million in net income
Callaway, whose Q3 earnings projections fell short of both the firm's and Wall Street's expectations, and, as such, has been dropped to 'hold' status, although experts still believe Callaway has strong long-term prospects
Callaway's stock has fallen with news that the struggling company expects its Q3 earnings to produce a loss of nearly $16 million
Callaway expects its slow business to be helped by a slew of new products and the recent announcement that golf will be added back to the Olympics in 2016
KeyBanc reiterated a 'buy' rating for Callaway due to positive long-term effects such as the addition of golf to the 2016 Olympics, a strong 2010 product line, and the continuation of market share gains in several areas.
After struggling in the market for metal woods over the past couple of years, Callaway announced it is taking its FT IQ driver line off the market after only one year
Callaway Golf announced it had successfully completed its offering of 1.25 million shares of 7.5% series B preferred stock.
Callaway declared a dividend of $0.07 per share, payable April 29, 2009, to shareholders on record as of April 15, 2009.
Perry Ellis International will design, manufacture, and distribute Callaway golf and sportswear apparel in the U.S., Canada, Latin America and the Caribbean.
Callaway Golf global revenue declined 2% in Q4 of 2008. The company had a net loss of $3.2 million, compared with a loss of $16.2 million in Q4 2007.
ELY's sales during Q3 2008 dropped about 9.1% from a year earlier and reached $213.5 million. Additionally, the company reported a loss of $7.4 million because of costs associated with previous acquisitions and its slumping sales. However, the company beat most estimates and believes that its 2009 product line will help boost ELY's financial performance.
ELY laid off 154 employees, mainly because of improvements to its manufacturing processes as it seeks to improve its gross margin.
Callaway Golf Co expects to report profit for the third quarter of 2007. For Q3, the company expects earnings up to $0.02 per share while analysts expected a loss of $0.05 per share for the third quarter. Further, the company expects net sales of approximately $236 million, up 22% from $194 million last year, while the analysts have consensus revenue estimate of $199.12 million for the third quarter. The company also raised its financial outlook for fiscal 2007.
