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CALLAWAY SALES FEELING EFFECTS OF EL NINO WEATHER PATTERN
Published March 2, 1998
Callaway Golf said Friday that its U.S. sales "are getting drenched by El Nino" and the impact could "drag earnings" 70% below analysts' first-quarter estimates, according to Bruce Bigelow of the SAN DIEGO UNION-TRIBUNE. The CA-based company, which was "expected" to report earnings of $.36 per share, said that unusually bad weather patterns caused by El Nino "has discouraged winter sales" of its golf clubs in FL and CA. Callaway President Donald Dye said earnings could be "as much as" $.25 below estimates if weather conditions "continue unabated through the remainder of the quarter" (SAN DIEGO UNION-TRIBUNE, 2/28).