Callaway Results Jump as It Raises Guidance, Buys Apparel Brand
Net income from operations more than doubled even though net income was down 8% to $34,443,000 from $34,105,000 as a result of its gain to $17.7 million on the sale of its investment in Topgolf for the quarter ended Jun. 30. Sales improved 24% to $304,548,000 from $245,594,000, led by an impressive 64% increase in wood sales from the success of the Epic driver to $89.3 million and a 74% increase in accessories to $59.5 million driven by the Ogio acquisition and the new JV for apparel in Japan. Iron sales and putter sales each fell 3% to $82.3 million ... Log in to view full article.