CALY FY 2008 Earnings Report — Callaway Golf Company Revenue & Financial Results | Market Cap Arena

Callaway Golf CompanyCALY

FY 2008 Earnings

Reported December 30, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.1B	—	-0.7%
Op. Income	$88M	—	$86M	—	3.2%
Gross Margin	43.6%	—	43.9%	—	-0.3pp
Net Margin	5.9%	—	4.9%	—	1.1pp
EPS (Diluted)	$1.04	—	$0.81	—	28.4%
Free Cash Flow	-$9M	—	$119M	—	-107.8%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$630M
GROSS PROFIT	$487M
R&D Expenses	$29M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$369M
Other Expenses	$0
Operating Expenses	$398M
Cost & Expenses	$1.0B
OPERATING INCOME	$88M
Interest Income	$2M
Interest Expense	$5M
Other Income/Expenses	$13M
INCOME BEFORE TAX	$101M
Income Tax Expense	$35M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$38M
EBIT	$106M
EBITDA	$144M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$630M
GROSS PROFIT	$487M
R&D Expenses	$29M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$369M
Other Expenses	$0
Operating Expenses	$398M
Cost & Expenses	$1.0B
OPERATING INCOME	$88M
Interest Income	$2M
Interest Expense	$5M
Other Income/Expenses	$13M
INCOME BEFORE TAX	$101M
Income Tax Expense	$35M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$38M
EBIT	$106M
EBITDA	$144M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$38M
Stock-Based Compensation	$0
Deferred Income Tax	$14M
Other Non-Cash Items	-$13M
Change in Working Capital	-$63M
OPERATING CASH FLOW	$42M
Capital Expenditure	-$51M
Acquisitions (Net)	-$10M
Purchases of Investments	-$763.0K
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$62M
Net Debt Issuance	$53M
Common Stock Repurchased	-$24M
Common Dividends Paid	-$18M
Other Financing Activities	$307.0K
NET CASH FROM FINANCING	$17M
FREE CASH FLOW	-$9M
Net Change in Cash	-$12M

Balance Sheet

Item	Amount
Cash & Equivalents	$38M
Short-Term Investments	$0
Net Receivables	$136M
Inventory	$257M
Other Current Assets	$59M
TOTAL CURRENT ASSETS	$490M
PP&E (Net)	$142M
Goodwill	$30M
Intangible Assets	$147M
Long-Term Investments	$10M
Tax Assets	$6M
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$366M
TOTAL ASSETS	$855M
Account Payables	$42M
Short-Term Debt	$90M
Deferred Revenue	$0
Other Current Liabilities	$96M
TOTAL CURRENT LIABILITIES	$253M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$22M
TOTAL LIABILITIES	$275M
Common Stock	$663.0K
Additional Paid-In Capital	$102M
Retained Earnings	$519M
Treasury Stock	-$24M
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$578M
Minority Interest	$2M
TOTAL EQUITY	$580M
TOTAL LIABILITIES & EQUITY	$855M
Total Debt	$90M
Net Debt	$52M