Carlsbad’s Callaway Golf Co. Thursday announced first quarter net income of $26 million, or 27 cents per share, compared with net income of $38 million, or 40 cents per share, in the same period last year.
Callaway said it made $35 million more in sales during the first three months of the year than in the first quarter of 2016, up to $309 million.
The revenue gain was offset by an increase in expenses and tax considerations from a joint venture on apparel in Japan and acquisition of the sports bag maker Ogio International.
“Sales of our new products, including the Epic driver and new Chrome Soft X golf ball, have exceeded our expectations,” said President and CEO Chip Brewer. “Business around the globe remains very strong with all major regions reporting sales growth and market share gains.”
Brewer said he was “cautiously optimistic” about the rest of 2017.
— City News Service
