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Article Date: February 2017
Word Count: 386

Callaway Improves in Q4, Looks Ahead to More Rational Market

Without including a net $141 million non-cash reversal of a deferred tax valuation allowance, ELY’s net loss would have improved to $17,343,000 from a loss of $30,452,000 on a 7% sales gain to 163,695,000 from $153,331,000 in the seasonally small quarter. Gross margin leapt 530 basis points to 38.6% on higher ASPs and a less promotional environment, along with improvements in operating efficiencies. For the full year, Callaway’s net income jumped on the tax reversal to $189,900,000 from $14,568,000 on 3% higher sales at $871,192,000 vs. $843,794,000 and a 180 basis point gain in gross margin to 44.2%. The bottom ... Log in to view full article.


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