Callaway Golf Co Issues FY, H1 2013 Guidance; Earnings Guidance below Analysts' Estimates

Callaway Golf Co announced that for fiscal 2013, it expects net sales of approximately $850 million and non-GAAP pro-forma net income to be breakeven with a non-GAAP pro forma loss per share of $0.04. For first half of 2013, it expects to be approximately $555 million compared to $566 million in 2012. Non-GAAP pro forma net income to be approximately $28 million (an increase of 33% compared to $21 million for the same period last year) and that non-GAAP pro forma earnings per share to be approximately $0.33 per share as compared to $0.25 per share for the first half of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report $853 million net income of $2.8 million and EPS of $0.01 for fiscal 2013. revenue of $287 million for first quarter of 2013 and revenue of $283 million for second quarter of 2013; net income of $21 million for first quarter of 2013 and net income of $17 million for second quarter of 2013; EPS of $0.24 for first quarter of 2013 and EPS of $0.19 for second quarter of 2013.