Callaway Tops a Billion Dollars, Sees Gains in 2018
Net loss was $19,386,000 in the seasonally small final quarter against income of $123,271,000 last year that was boosted by a $156 million reversal of a tax valuation allowance as revenues gained 17% to $191,657,000 from $163,695,000. Excluding one-time items, which included a $3 million charge related to the 2017 tax legislation, the bottom line was a loss of $15.2 million against a loss of $8.6 million last year. Gross margin expanded 300 basis points to 41.6% on a mix shift towards profitable woods and overall higher ASPs. Retail trends continued to improve in Q4 as they have through 2017 ... Log in to view full article.