* Sees Q1 EPS about $0.24 vs est $0.25
* Sees Q1 sales $303 mln vs est $298.1 mln
April 15 Golf gear maker Callaway Golf Co
(ELY.N) forecast a first-quarter profit slightly below market
expectations, citing poor weather conditions that delayed the
start of the golf season, and said it was cautiously optimistic
The maker of Big Bertha clubs and balls projected a profit
of about 24 cents a share on sales of $303 million for the
Analysts on average were expecting the company to earn 25
cents a share, before items, on revenue of $298.1 million,
according to Thomson Reuters I/B/E/S.
"The pervasive discounting that occurred in 2009 has
subsided, retail inventory levels are healthy, and we have
received positive consumer feedback on our 2010 product line,"
Chief Executive George Fellows said in a statement.
Pent-up demand for equipment from golfers, who had reduced
spending on the expensive sport amid the recession, 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 division.
"We believe that golf spending will increase as weather
conditions improve and the golf season opens," Fellows said.
Shares of Carlsbad, California-based Callaway closed at
$10.14 Thursday on the New York Stock Exchange.
(Reporting by Vidya Lakshmi in Bangalore; Editing by Anne