Callaway Golf Q2 Profit Rises

(RTTNews) - Callaway Golf Co. (CALY) on Tuesday reported an increase in profit for the second quarter.

Net income increased to $75.2 million or $0.40 per share from $20.3 million or $0.11 per share a year ago.

Quarterly net sales rose 2.0 percent to $612.2 million from $600.4 million last year, driven by a 4.5 percent increase in the Golf Equipment segment, partially offset by a 3.6 percent decline in the Apparel, Gear and Other segment.

Adjusted earnings from continuing operations rose to $0.39 per share from $0.20 per share.

Looking ahead, Callaway Golf now expects full-year net sales of $2.045 billion to $2.070 billion, compared with its previous outlook of $2.015 billion to $2.070 billion.