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Callaway returns to profit

Callaway returned to profitability last year for the first time since 2008, with 2014 full year sales increased by five percent to $887 million, compared to $843 million for 2013; income from operations increased to $31 million, compared to a loss of $11 million in 2013; earnings per share increased to $0.20, compared to a loss per share of $0.31 in 2013.

The company saw growth in most major product category sales including woods up eight percent; irons up twelve percent; and golf balls up four percent. The increase in woods and irons was led by a strategic change in product launch timing resulting in the fourth quarter release of the Big Bertha 815 family of woods and Big Bertha Beta irons and hybrids compared to no similar product launches in 2013.

Callaway also achieved growth in all geographic regions: United States up five percent; Europe up eleven percent; Japan up three percent; and the rest of Asia up seven percent. The company says the positive results were achieved despite challenging trading conditions that beset the golf industry for much of 2014, including unfavourable weather and changes in foreign currency exchange rates.