Carlsbad-based Callaway Golf Co.’s strong sales led to better-than-expected quarter three earnings.
The golf equipment provider reported revenue of $244 million, a 30 percent increase over the $188 million for the same quarter last year.
Further, Callaway said operating income was $6 million, an $11 million increase compared to the $5 million operating loss in the same period of the prior year.
“Our third quarter results continue what has been a tremendous year for Callaway,” Chip Brewer, president and CEO of Callaway, said in a statement.
He also said sales and gross margins have increased.
Callaway also revised its full-year revenue forecast, now anticipating sales of $1.03 billion to $1.04 billion, an increase from prior estimates of $980 million to $995 million.
“We also continue to be cautiously optimistic about the golf industry overall, thanks to what we believe are improving fundamentals,” Brewer said.