Callaway golf club, ball sales fall
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Callaway Golf Co., the maker of Big Bertha drivers, reported a wider fourth-quarter loss as sales of wood clubs and golf balls fell.
The loss was $16.2 million, or 25 cents a share, compared with $10.2 million, or 15 cents, a year earlier, Carlsbad-based Callaway said.
Sales of $174.4 million beat the average $164 million estimate among eight analysts surveyed by Bloomberg.
Gains in sales of accessories and putters couldn’t offset declines in the wood club and golf ball units.
The company sold $32.3 million in woods, a decrease of 18% from the previous year’s $39.3 million. Golf ball sales fell 20% to $38.1 million.
Callaway forecast 2008 sales of $1.15 billion to $1.17 billion, with earnings of $1.08 to $1.18 a share.
Callaway shares gained $1.24, or 7.4%, to $17.99.
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