Callaway Golf Inc., the maker of Big Bertha clubs as well as other golf equipment, reported on Oct. 23 that it had a net loss of $1 million on net sales of $169 million during its third quarter. The company cut its loss from $21 million in the year-ago quarter, when net sales were $178 million.
For the first nine months of the year, Callaway (NYSE: ELY) reported net income of $58 million on net sales of $752 million, outpacing the first nine months of 2013, when the company reported net income of $31 million on net sales of $716 million.
The company estimated that net sales for the entire year should come in at $890 million. Hitting that mark would give the company 6 percent growth over its 2013 net sales. Earnings per share should be in the range of 15 cents to 18 cents, the company said, up from the previous forecast of 12 cents to 16 cents.