Callaway Q1 Tumbles, But Avers Golf Will Bounce Back
ELY preannounced its results for the first quarter, and expects net income to come in at $0.27 - $0.31 per share, down from $0.50 last year, on sales of $438 - $443 million against $516 million. EBITDAS, which backs out interest, taxes, depreciation and amortization, and stock compensation, is forecast to be $55 - $59 million against $79 million last year, and ELY said it will end the quarter with about $167 million in cash with net debt of about $631 million. Operating expenses and CapEx have been reduced by about 20% by cutting discretionary and infrastructure spending, as well ... Log in to view full article.