Callaway reported fourth quarter revenue of $164 million, a seven per cent increase from the same quarter the year before.
In addition to sales growth, the Company also significantly improved its profitability and cash flows for full year 2016, including a 64 per cent increase in income from operations and a 154 per cent increase in cash provided by operations.
“2016 was an exciting and pivotal year for Callaway Golf,” commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. We demonstrated continued ability to grow market share and top line revenue throughout the year by introducing engaging product with exceptional performance, while at the same time realizing operational efficiencies and judiciously capitalizing on investment opportunities.
“Specifically, we demonstrated our commitment to strategically investing in the core business through the acquisition of Toulon Design and the hiring of Rock Ishii, a highly respected innovator in the golf ball category. Looking ahead to 2017, we are encouraged by the early enthusiasm surrounding the EPIC driver with Jailbreak Technology and the newest addition to our Chrome Soft platform, Chrome Soft X.”