EARNINGS ROUNDUP

* Big 5 Sporting Goods Corp. said its first-quarter profit tumbled 33% as consumers continued to pull back on spending. The retailer also lowered its quarterly dividend to a nickel from 9 cents.

The performance nevertheless beat Wall Street expectations and the company’s outlook also topped estimates. Shares of Big 5 rose 20 cents to $8.43 in after-hours trading, after closing up 14 cents at $8.23.

The El Segundo company said it earned $2.8 million, or 13 cents a share, compared with $4.1 million, or 19 cents, a year earlier. Sales fell to $210.3 million from $212.9 million.

* Golf equipment maker Callaway Golf Co. of Carlsbad said first-quarter profit fell 83% to miss Wall Street expectations as retailers stocked fewer of the company’s products amid the dismal economy.

Net income slid to $6.8 million, or 11 cents a share, from $39.7 million, or 61 cents, a year earlier. Revenue dropped 26% to $271.9 million.

Shares fell 11 cents to $7.55.

* Corinthian Colleges Inc. said quarterly profit more than doubled and beat Wall Street expectations as rising unemployment boosted enrollment.

The Santa Ana company earned $25 million, or 28 cents a share, compared with $11.8 million, or 14 cents, a year earlier. Earnings from continuing operations, which excludes results from businesses that have been or are in the process of being sold, were 29 cents a share.

Revenue increased 24% to $346.4 million. Total student population rose 18% to 84,722.

Analysts polled by Thomson Reuters were expecting profit of 23 cents a share and revenue of $333.2 million.

Corinthian announced that president and chief operating officer Peter Waller would replace Jack Massimino as chief executive. Massimino will transition to executive chairman.

Shares fell 43 cents to $15.40.

* Ingram Micro Inc. reported a higher-than-expected profit as cost cuts helped make up for a 21% slide in revenue.

The Santa Ana computer products distributor said net income fell to $27.5 million, or 17 cents a share, from $64.1 million, or 37 cents, a year earlier.

Excluding certain items, Ingram Micro posted a profit of 23 cents a share, well ahead of analyst estimates of 13 cents, Reuters Estimates said.

Revenue fell to $6.75 billion.

Shares rose 2 cents to $14.52.

* Watson Pharmaceuticals of Corona said first-quarter net income fell to $49.1 million, or 43 cents a share, from $50.6 million, or 45 cents, a year earlier.

Excluding special items, earnings were 58 cents a share, 9 cents ahead of analysts’ average forecast, according to Reuters Estimates.

Revenue increased 6.5% to $667.4 million.

Shares fell 20 cents to $30.94.