Net income fell 41% to $28,894,000 from $48,647,000 in the first quarter on 14% lower sales of $442,276,000 against $516,197,000 including a 10% drop in golf equipment and a 22% decline in apparel, gear and other sales. ELY pre-announced the results in late April. While not providing sales or earnings guidance, Q2 is expected to be down significantly, and it expects about $6 million in one-time expenses in 2020 associated with the coronavirus pandemic. CapEx will be trimmed down to $33 to $38 million from $55 million last year. On May 4, Callaway completed its issuance of $259 million of ... Log in to view full article.