Callaway Golf Co. (ELY) reported a net loss for the fourth quarter of $72.8 million or $1.03 per share, compared to a net loss of $65.6 million or $1.01 per share for the year-ago quarter.
Excluding items, pro forma loss for the fourth quarter was $0.49 per share, compared to a pro forma loss of $0.41 per share in the prior year quarter.
Net sales for the fourth quarter fell to $117.88 million from $153.87 million a year ago.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.49 per share on revenue of $124.08 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward, the company forecast full year 2013 net sales of about $850 million. The company estimates that 2013 full year pro-forma net income will be breakeven with a pro forma loss per share of $0.04 due to the impact of dividends paid on the company's outstanding convertible preferred stock
Analysts currently expect the company to earn $0.01 per share on revenue of $853.57 million for the full year 2013.
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