StubHub Goes Away From "All-In" Pricing Dalian Wanda Buys Ironman For $650M NYRA's Operating Loss Spikes Despite Triple Crown IMG College Buys TopShelf For Hospitality Adidas Seeking Buyer For Golf Brands Adidas Could Spin Off Golf Unit Adidas Buys Fitness App Runtastic For $239M Chime Sold To WPP, Providence Equity Callaway Golf Reports Mixed Q2 Results CDI Reports Record Quarterly Revenue
DESPITE INCREASE IN SALES, CALLAWAY'S 1Q EARNINGS DROP
Published April 24, 1998
Callaway Golf reported net sales of $176.9M for the first quarter ended March 31, 1998, an increase of 5% over 1Q '97. However, net income decreased 54% to $11.2M, and diluted earnings per share decreased 53% to $0.16 from %0.34 in '97 (Callaway Golf). Callaway Golf finished down 1 3/4 to 27 1/2 yesterday ("Nightly Business Report," PBS, 4/23). SWEDE VICTORY: Callaway announced the conclusion of successful litigation against Sportz & Golf, a Swedish company that had been selling counterfeit copies of Callaway's Big Bertha clubs in that country. Callaway received a court-approved settlement, which covered most of its prosecution costs (Callaway).