Last $9.10 USD
Change Today +0.27 / 3.06%
Volume 1.9M
ELY On Other Exchanges
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As of 8:04 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

callaway golf company (ELY) Snapshot

Open
$8.83
Previous Close
$8.83
Day High
$9.12
Day Low
$8.82
52 Week High
04/1/14 - $10.35
52 Week Low
08/30/13 - $6.76
Market Cap
705.5M
Average Volume 10 Days
1.0M
EPS TTM
$-0.10
Shares Outstanding
77.5M
EX-Date
05/30/14
P/E TM
--
Dividend
$0.04
Dividend Yield
0.44%
Current Stock Chart for CALLAWAY GOLF COMPANY (ELY)

callaway golf company (ELY) Related Businessweek News

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callaway golf company (ELY) Details

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and balls. It offers drivers, fairway woods, hybrids, irons, wedges, and putters. The company also designs and sells golf accessories, such as golf apparel and footwear, golf bags, golf gloves, headwear, towels, umbrellas, eyewear, and travel gear under the Callaway Golf, Odyssey, and Strata brand names. In addition, it licenses its trademarks and service marks for use on golf related accessories, including golf apparel and footwear, prescription eyewear, golf gloves, umbrellas, and practice aids. The company sells its products directly to golf retailers, sporting goods retailers, and mass merchants; and to third-party distributors in the United States, as well as in approximately 100 countries worldwide. It also sells pre-owned golf products through its Website callawaygolfpreowned.com; and Callaway Golf and Odyssey products directly to consumers online through its Websites callawaygolf.com and odysseygolf.com. The company was founded in 1982 and is based in Carlsbad, California.

1,700 Employees
Last Reported Date: 02/27/14
Founded in 1982

callaway golf company (ELY) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $700.0K
Chief Financial Officer and Senior Executive ...
Total Annual Compensation: $542.0K
Senior Vice President of Global Operations
Total Annual Compensation: $395.6K
President of East Asia and Managing Director ...
Total Annual Compensation: $417.9K
Senior Vice President of Research and Develop...
Total Annual Compensation: $342.0K
Compensation as of Fiscal Year 2013.

callaway golf company (ELY) Key Developments

Callaway Golf Company, Callaway Golf Sales Company, Callaway Golf Ball Operations, Inc., Callaway Golf Canada Ltd., Callaway Golf Europe Ltd. Enter into Third Amendment to the Second Amended and Restated Loan and Security Agreements

On June 23, 2014, Callaway Golf Company entered into a Third Amendment to the Second Amended and Restated Loan and Security Agreement among the Company, Callaway Golf Sales Company, Callaway Golf Ball Operations, Inc., Callaway Golf Canada Ltd., Callaway Golf Europe Ltd., Callaway Golf Interactive, Inc. and Callaway Golf International Sales Company and Callaway Golf European Holding Company Limited., Bank of America, N.A., as administrative agent and security trustee and certain financial institutions as lenders. The ABL Facility provides a senior secured asset-based revolving credit facility of up to $230 million, comprising a $160 million U.S. facility (of which $20 million is available for letters of credit), a $25 million Canadian facility (of which $5 million is available for letters of credit) and a $45 million U.K. facility (of which $2 million is available for letters of credit), in each case subject to borrowing base availability under the applicable facility. The interest rate applicable from time to time to outstanding loans under the ABL Facility is, at the company’s option, equal to: (a) a base rate for loans under the U.S. facility equal to the sum of (i) the greater of (A) the prime rate announced by Bank of America from time to time, (B) the Federal Funds Rate, plus 0.50% or (C) LIBOR for a 30-day interest period, plus 1%, plus (ii) an applicable margin ranging from 0.75% to 1.25% depending on the company’s ‘availability ratio’; (b) a prime rate for U.S. dollar-denominated loans under the Canadian facility equal to the sum of (i) the greater of (A) the prime rate announced by Bank of America (Canada) from time to time, (B) the rate of interest charged by the Bank of Canada on one-day loans to financial institutions, plus 0.50% or (C) the average rate applicable to Canadian Dollar Bankers’ Acceptances with a one-month interest period displayed on the “CDOR Page” of Reuter Monitor Money Rates Service, plus 1.05%, plus (ii) an applicable margin ranging from 0.75% to 1.25% depending on the company’s ‘availability ratio’; (c) a base rate for Canadian dollar-denominated loans under the Canadian facility equal to the sum of (i) the base rate announced by Bank of America (Canada) in Toronto, Ontario from time to time, plus (ii) an applicable margin ranging from 0.75% to 1.25% depending on the company’s ‘availability ratio’; (d) a BA rate for Canadian dollar-denominated loans under the Canadian facility equal to the sum of (i) the average rate applicable to Canadian Dollar Bankers’ Acceptances with a one-month interest period displayed on the “CDOR Page” of Reuter Monitor Money Rates Service, plus 0.05%, plus (ii) an applicable margin ranging from 1.75% to 2.25% depending on the company’s ‘availability ratio’; (e) a LIBOR rate for loans under the U.S. facility or U.S. dollar-denominated loans under the Canadian facility equal to the sum of (i) (A) the London interbank offered rate administered by ICE Benchmark Administration Limited for U.S. dollars and the relevant period displayed on pages LIBOR01 or LIBOR02 of the Reuters screen or (B) if such rate is not available, the interest rate at which U.S. dollar deposits in the approximately equivalent amount would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market, in either case rounded up to the nearest 1/16th of a percent, plus (ii) an applicable margin ranging from 1.75% to 2.25% depending on the company’s ‘availability ratio’ If the Board of Governors imposes a reserve percentage with respect to LIBOR deposits, then the rate will be divided by 1 minus the reserve percentage; or (f) a base rate for U.S. dollar-denominated loans under the U.K. facility equal to the sum of (i) the base rate with respect to U.S. dollars announced by Bank of America from time to time in the jurisdiction in which such currency is funded plus (ii) an applicable margin ranging from 1.75% to 2.25% depending on the company’s ‘availability ratio’. In addition, the ABL Facility provides for monthly fees ranging from 0.25% to 0.375% of the unused portion of the ABL Facility, depending on the monthly average daily balance of revolver loans and stated amount of letters of credit relative to lenders’ commitments. Amounts borrowed under the ABL Facility may be repaid and reborrowed from time to time. The entire outstanding principal amount (if any) is due and payable at maturity on either (a) the date that is six months prior to the maturity of the Company’s 3.75% Convertible Senior Notes due 2019, maturing August 15, 2019 or (b), if a qualifying refinancing of the Company’s 3.75% Convertible Senior Notes due 2019 has occurred at least six months prior to their maturity, then June 23, 2019. The ABL Facility provides that the Company has the right at any time to request up to $150 million of incremental commitments under the ABL Facility. The lenders under the ABL Facility are not obliged to provide any such incremental commitments and any such increase in commitments will be subject to certain other customary conditions precedent. The Company’s ability to obtain extensions of credit under these incremental commitments is also subject to the same conditions as extensions of credit under the ABL Facility. The company will be subject to compliance with a fixed charge coverage ratio covenant evaluated on a month-end basis during, and continuing 30 days after, any period in which: (x) the difference between (a) availability under the ABL Facility, minus (b) trade payables of borrowers and guarantors that are more than 60 days past due and book overdrafts of borrowers and guarantors in excess of historical practices; is less than: (y) 10% of the sum of all commitments under the ABL Facility.

Callaway Golf Apparel Introduces Opti-Series

Callaway Golf Apparel, a division of Perry Ellis International Inc. has introduced a new line of features, known as Opti-Series. Designed to offer golfers of all levels the comfort and performance they crave, Opti-Series features employ advancements that infuse Callaway Apparel with an optimal balance of technology and design aesthetic. Each individual feature is designed to give golfers the optimum in golf performance. Opti-Dri technology transfers moisture away from the body to aid in rapid evaporation, thereby allowing the garment to dry faster and stay drier longer. Opti-Cool utilizes cooling factors in the fabric to transfer heat away from the body, keeping the golfer cool. Opti-Shield technology offers golfers a layer of UPF protection from the sun's harmful rays woven directly into the fabric. Opti-Stretch technology features interwoven layers of flexible fabrics, which provide unhindered range of motion, allowing golfers maximum comfort through the full range of their swing. Opti-Vent fabrics feature engineered ventilation to provide a garment with maximum breathability for optimized comfort in warmer weather. Opti-Genic antimicrobial treatment is a finish that reduces odor and maintains a garment's durability over time. Opti-Repel creates a barrier of protection from inclement weather that is resistant to both wind and water, and Opti-Therm fabrics provide golfers a thermal layer designed to help withstand cold in all elements. Callaway Opti-Series is the result of coordinated research, planning and design efforts.

Callaway Golf Co. Declares Quarterly Dividend, Payable on June 24, 2014

Callaway Golf Co. declared a regular quarterly cash dividend of $0.01 per share on its Common Stock. The dividend is payable on June 24, 2014 to shareholders of record at the close of business on June 3, 2014.

 

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