The net loss was $34,880,000 compared to a loss of $18,180,000 for the final period ended Dec. 31 as revenues were basically flat at $185,528,000 against $185,852,000 last year. This year’s results included an impairment charge of $7.5 million related to Top-Flite’s intangible assets, as ELY sees the shift of premium balls into the sporting goods channel a more permanent phenomenon than it expected earlier. ELY saw its gross margins fall by 137 basis points to 39.93%, partly because of $6 million spent this year on charges related to its efforts to expand gross margin against $2 million spent last ... Log in to view full article.