|
11.01.2007
07:43 pm (ET)
CARLSBAD, Calif. (AP) -- High-end golf club maker Callaway Golf Go. said Thursday it swung to a third-quarter profit, helped by higher sales of its new products. For the three months ended Sept. 30, net income rose to $1.3 million, or 2 cents per share, from a loss of $11.9 million, or 18 cents per share, during the same period last year. Excluding one-time items, net income for the most recent quarter was 6 cents per share. Revenue rose 22 percent to $235.5 million from $193.8 million last year. Analysts polled by Thomson Financial predicted a profit of 2 cents per share on revenue of $236 million. The company said sales of its 2007 products, including its Fusion drivers and X-series irons, as well as sales of its accessories and golf balls, drove results. Shares rose 12 cents to $16.39 in aftermarket electronic trading, after closing down $1.05 at $16.27. Copyright 2007 Associated Press. All rights reserved.
|
