Callaway Golf Reports Strong Financial Results as Shares Rise

Callaway Golf Company has posted strong financial results and declared a regular quarterly cash dividend of $0.01 per share on its Common Stock.

That dividend is payable on December 16 of this year to shareholders who were on record by November 21, anabolics 2013.

On top of this, unhealthy Callaway also reported a regular quarterly cash dividend of $1.875 per share on its 7.50% Series B Cumulative Perpetual Convertible Preferred Stock.

CEO, President and Director, Chip Brewer said: “I’m happy to say we had a strong quarter, and I believe our results confirm our turnaround plan is on track and probably building momentum. I’d like to start by thanking the Callaway Golf team and employees for their hard work and commitment to turning this business around.

“In Q3, we delivered impressive revenue growth. On a constant currency continuing business basis, our year-over-year revenues increased 38% for Q3 and are up 13% for the first 9 months. We are confident this growth significantly outpaced our industry, which has experienced soft market conditions for the year in whole, especially in North America and Europe.”

The news prompted shares to jump, whilst the gross profit margin went to 34% from 21% in Q3 2012.