Net loss narrowed to $9,632,000 from $17,424,000 in the seasonally small third quarter on revenues that increased 4% to $332,353,000 from $319,868,000 as GOLF reported its first quarterly results since its IPO on Nov. 2. Adjusted EBITDA, which excludes equity compensation and other items, grew 9% to $27.0 million. Solid gains in clubs and softgoods were offset by lower ball sales impacted by the retail bankruptcies. Gross margin slipped 50 basis points to 48.7% from foreign currency effects. SG&A declined $5.5 million, or 330 b.p. overall with last year’s equity appreciation rights plan not recurring, but an increase this year ... Log in to view full article.