Callaway expects profit to rise 25%
From Times Wire Services
Callaway Golf Co. said it expected to post strong first-quarter results despite the uncertain economy.
Callaway, which will release quarterly results May 1, said it expected profit to rise 25% and sales to climb 10%.
For the three months that ended March 31, the Carlsbad, Calif., company expects to post earnings per share of 59 to 61 cents.
Sales for the first quarter should be about $366 million, compared with year-earlier sales of $335 million, Callaway said.
Analysts surveyed by Thomson Financial expect average earnings of 58 cents a share on revenue of $347.8 million.
