* Q1 adj EPS $0.25 in line with Street
* Q1 sales up 11 pct
* Says Q2 will be a better indicator of recovery
* Says it will take more than 2010 for recovery
* Backs full-year view
April 29 Callaway Golf Co (ELY.N) reported a
quarterly profit in line with estimates and backed its outlook
for the current financial year, but the golf gear maker said
the second quarter would be a better indicator of the scale of
recovery in golfing markets.
The maker of Big Bertha clubs and balls, which saw sales
decline last year as American golfers scaled back spending on
the expensive sport amid the recession, still sees an adjusted
profit of 25 cent to 35 cents a share on sales of $990 million
to $1.05 billion for 2010.
Analysts on average were expecting the company to earn 30
cents a share on revenue of $1.02 billion, according to Thomson
Pent-up demand for equipment from golfers, who had reduced
spending on the sport, has begun to benefit golf gear makers
like Callaway, Fortune Brands Inc's FO.N Acushnet Co, Adidas
AG's ADSG.DE TaylorMade unit and Nike Inc's (NKE.N) golf
"It will take more than 2010 for the golf industry and our
business to recover fully," Callaway's Chief Executive George
Fellows said in a statement.
The company earlier this month pre-announced its
Sales rose 11 percent to $303 million, despite inclement
weather conditions delaying the opening of the golf season in
many of the company's key regions.
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Shares of Carlsbad, California-based Callaway closed at
$10.05 Thursday on the New York Stock Exchange.
(Reporting by Viraj Nair in Bangalore; Editing by Anne
Pallivathuckal) ((email@example.com; within U.S. +1
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