Callaway Sales Dip Titleists Latest

By Adam BarrOctober 19, 2001, 4:00 pm
The latest:
 
CALLAWAY SALES DOWN IN THIRD QUARTER: It's too early to say whether the events of September 11 had anything to do with it. But Callaway Golf, seen by Wall Street analysts as an industry bellwether, reported declines in sales and net income for the third quarter, which ended 19 days after the terrorist attacks.
 
Net sales for the third quarter dipped 6 percent compared to the comparable quarter in 2000, from $208.1 million to $195.8 million. Net income dropped 67 percent over that time, from $20.1 million to $6.5 million. But there's an accounting proviso here: Callaway took a charge of $7.8 million to reflect its entry into a five-year energy contract as a hedge against the unstable electricity situation in California, where Callaway is located. With that charge backed out of the figures, net income for the third quarter was $14.3.
 
With the electricity contract charge figured in, earnings per share were 9 cents (compared with 29 cents for the third quarter of 2001), but without the charge, per-share earnings were 20 cents, a penny more than the amount Wall Street analysts predicted.
 
Sales for the nine months ended Sept. 30 were $710.9 million, up 2 percent from sales of $695.4 million for the first nine months of 2000.
 
Going into what is traditionally a soft quarter, Callaway's inventory number of $145.2 million is a little high, and the company has admitted it's monitoring the figure. But predictions are for annual sales of between $800 million and $820 million for 2001, with gross margins about half that figure.
 
TITLEIST RELEASES NEW DCI MODELS: Continuing with its mantra of serious clubs for serious golfers, Titleist & FootJoy Worldwide has brought out two new models.
 

The DCI 762 will replace the 990 series as the company's flagship iron. It features a thin face and a cavity insert made of carbon and metallized Mylar. The insert provides a muscled-up feel without adding extra mass in the cavity, Titleist says. Suggested retail per club will be $108 for steel shafts and $156 with Titleist's proprietary GAT graphite shaft.
 
The DCI 822OS, with its thin face and high-volume cavity, is designed for players of all skill levels who prefer an oversize, offset clubhead. Suggested retail per stick will be $108 for steel shafts and $130 for graphite.
 
SATIN FINISH FLATSTICKS FROM PING: That elegant non-shine finish never seems to go out of style on putters. On Nov. 1, Ping will release five new putters of 17-4 stainless steel with that popular finish.
 
The names are typical Ping, alternating between whimsical and scientific: PENGYO, PENGYO Isopur2, VSL, VSL Isopur2 and lil' b.
 
The PENGYO boasts a flange design that not only pleases the eye, but also keeps the club's center of gravity low, says Ping. (PENGYO means 'friend' in Mandarin.)
 
The VSL has ridges on the flange that throw shadows, which combine to form a sight line, Ping says.
 
Getty Images

Weather extends Barbasol to Monday finish

By Associated PressJuly 23, 2018, 12:25 am

NICHOLASVILLE, Ky. - A thunderstorm has suspended the fourth round of the PGA Tour's Barbasol Championship until Monday morning.

Sunday's third stoppage of play at Champions Trace at Keene Trace Golf Club came with the four leaders - Hunter Mahan, Robert Streb, Tom Lovelady and Troy Merritt at 18 under par - and four other contenders waiting to begin the round.

The tournament will resume at 7:30 a.m. on Monday. Lightning caused one delay, and play was stopped earlier in the afternoon to clear water that accumulated on the course following a morning of steady and sometimes-heavy rain.

Inclement weather has plagued the tournament throughout the weekend. The second round was completed Saturday morning after being suspended by thunderstorms late Friday afternoon.

The resumption will mark the PGA Tour's second Monday finish this season. Jason Day won the Farmers Insurance Open in January after darkness delayed the sixth playoff hole, and he needed just 13 minutes to claim the victory.

Getty Images

Watch: Spectator films as Woods' shot hits him

By Will GrayJuly 23, 2018, 12:07 am

It was a collision watched by millions of fans on television, and one that came at a pivotal juncture as Tiger Woods sought to win The Open. It also gave Colin Hauck the story of a lifetime.

Hauck was among dozens of fans situated along the left side of the 11th hole during the final round at Carnoustie as the pairing of Woods and Francesco Molinari hit their approach shots. After 10 holes of nearly flawless golf, Woods missed the fairway off the tee and then pulled his iron well left of the target.

The ball made square contact with Hauck, who hours later tweeted a video showing the entire sequence - even as he continued to record after Woods' shot sent him tumbling to the ground:

The bounce initially appeared fortuitous for Woods, as his ball bounded away from thicker rough and back toward the green. But an ambitious flop shot came up short, and he eventually made a double bogey to go from leading by a shot to trailing by one. He ultimately shot an even-par 71, tying for sixth two shots behind Molinari.

For his efforts as a human shield, Hauck received a signed glove and a handshake from Woods - not to mention a firsthand video account that will be sure to spark plenty of conversations in the coming years.

Getty Images

Molinari retirement plan: coffee, books and Twitter

By Will GrayJuly 22, 2018, 9:35 pm

After breaking through for his first career major, Francesco Molinari now has a five-year exemption on the PGA Tour, a 10-year exemption in Europe and has solidified his standing as one of the best players in the world.

But not too long ago, the 35-year-old Italian was apparently thinking about life after golf.

Shortly after Molinari rolled in a final birdie putt to close out a two-shot victory at The Open, fellow Tour player Wesley Bryan tweeted a picture of a note that he wrote after the two played together during the third round of the WGC-HSBC Champions in China in October. In it, Bryan shared Molinari's plans to retire as early as 2020 to hang out at cafes and "become a Twitter troll":

Molinari is active on the social media platform, with more than 5,600 tweets sent out to nearly 150,000 followers since joining in 2010. But after lifting the claret jug at Carnoustie, it appears one of the few downsides of Molinari's victory is that the golf world won't get to see the veteran turn into a caffeinated, well-read troll anytime soon.

Getty Images

Molinari had previously avoided Carnoustie on purpose

By Rex HoggardJuly 22, 2018, 9:17 pm

CARNOUSTIE, Scotland – Sometimes a course just fits a player’s eye. They can’t really describe why, but more often than not it leads to solid finishes.

Francesco Molinari’s relationship with Carnoustie isn’t like that.

The Italian played his first major at Carnoustie, widely considered the toughest of all The Open venues, in 2007, and his first impression hasn’t really changed.

“There was nothing comforting about it,” he said on Sunday following a final-round 69 that lifted him to a two-stroke victory.


Full-field scores from the 147th Open Championship

Full coverage of the 147th Open Championship


In fact, following that first exposure to the Angus coast brute, Molinari has tried to avoid Carnoustie, largely skipping the Dunhill Links Championship, one of the European Tour’s marquee events, throughout his career.

“To be completely honest, it's one of the reasons why I didn't play the Dunhill Links in the last few years, because I got beaten up around here a few times in the past,” he said. “I didn't particularly enjoy that feeling. It's a really tough course. You can try and play smart golf, but some shots, you just have to hit it straight. There's no way around it. You can't really hide.”

Molinari’s relative dislike for the layout makes his performance this week even more impressive considering he played his last 37 holes bogey-free.

“To play the weekend bogey-free, it's unthinkable, to be honest. So very proud of today,” he said.