Callaway Golf Feels Economic Headwinds (ELY)
Posted on October 31st, 2008 by Carl Vanderpal
Callaway Golf (ELY) reported a wider loss on EPS than head been expected, as sales fell 9 percent to $213.5 million. The company is warning that full-year profit would be lower than expected due to softening of its U.S. and international businesses. Management is citing the global economic downturn that is reducing demand for the company’s golf clubs, balls and accessories. The company is expecting a wide EPS profit range of 92 cents per share to $1.02 per share. The consensus is for a profit
Filed under: Golf Clubs, Golfing News