Callaway Golf Co. closed out 2017 on a strong note, reporting net income of $40.8 million or 42 cents per share on net sales of $1.05 billion.
Net sales grew 20 percent from $871.2 million in 2016. Net income was $190 million that year.
Some of the growth was by acquisition. Callaway (NYSE: ELY) acquired Utah bag maker Ogio International Inc. in January and Huntington Beach apparel maker TravisMathew in August.
The Carlsbad maker of clubs, balls, bags and apparel said it expects more growth in 2018. Net sales are expected to be in the range of $1.12 billion to $1.14 billion. The business forecasted earnings of 64 cents to 70 cents per share.
In the fourth quarter of 2017, the company reported a net loss of $19.4 million on net sales of $191.7 million. The fourth quarter of 2016 brought net income of $123.2 million on net sales of $163.7 million — thanks in large part to an income tax provision of $137.2 million.