Callaway Golf have surpassed first quarter expectations by recording a 21 per cent growth in first quarter profit . Net income increased from $32.8 million to $39.7 million, whilst the company enjoyed a 10 per cent up turn in sales, with sales income up from $334.6 million to $366.5 million. The positive sales results were particularly driven by the sales of new fairway woods and new putters .
Callaway did warn, however, that full year results aren’t likely to continue at such a rate of growth, with revenue of between $1.15 billion and $1.17 billion forecast. Meanwhile, the California based company predicted earnings per share of between $1.08 and $1.18 per share.
Callaway’s cautious approach to their whole year predictions has been heavily influenced by the credit crunch, with Callaway bosses mindful of a slowdown in consumer spending which could harm sales.
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Callaway Golf Surpass Expectations Tue, 06 May 2008 Recommended linksGet New Golf ClubsTake Part in Golf Tournaments Top Sportswear Retailers Need New Golf Balls? Fancy a Golfing Holiday? Pilot Fined for Flying Over Open Golf Championship Marriott Aim for Greener Courses
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