Callaway Golf (CALY) FY2014 results: revenue $887 million, up 5.2% on the year
Callaway Golf Co. (CALY) reported revenue of $887 million for fiscal 2014, the year ended 31 December 2014, up 5.2% on the year before. Net income was $16 million, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2015.
Revenue
$887 million
+5.2% on the year
FY2009FY2014
Operating margin
3.5%
-1.3% a year earlier
FY2009FY2014
Net income
$16 million
FY2009FY2014
Diluted EPS
$0.20
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
887
843
834
+5.2%
Cost of revenue
529
528
586
+0.2%
Gross profit
358
315
248
+13.7%
Gross margin
40.4%
37.3%
29.8%
Research and development
31.3
30.9
29.5
+1.1%
Operating income
30.7
-10.8
-116
Operating margin
3.5%
-1.3%
-13.9%
Interest expense
9.5
9.1
5.5
+4.1%
Pre-tax income
21.6
-13.3
-118
Income tax
5.6
5.6
4.9
+0.6%
Effective tax rate
26.0%
n/a
n/a
Net income
16.0
-18.9
-123
Net margin
1.8%
-2.2%
-14.7%
Diluted EPS
$0.20
-$0.31
-$1.96
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
36.9
-8.9
-28.8
Capital expenditure
10.8
13.0
18.4
-17.5%
Free cash flow
26.1
-22.0
-47.2
Free cash flow margin
2.9%
-2.6%
-5.7%
Cash from investing
-25.1
-22.5
5.5
Cash from financing
-12.9
21.3
32.1
Depreciation and amortisation
21.2
25.5
34.4
-16.9%
Share-based compensation
5.7
3.5
3.1
+62.5%
Buybacks
1.0
0.0
n/a
Dividends paid
3.1
5.6
11.0
-44.5%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
78m
73m
67m
+7.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
292
285
319
+2.4%
Non-controlling interest
n/a
0.0
2.7
Debt
124
133
107
-7.3%
Other liabilities
209
246
209
-14.8%
Total liabilities and equity
625
664
638
-5.9%
Fixed assets
58.1
71.3
89.1
-18.6%
Goodwill
27.8
29.2
29.0
-4.8%
Intangible assets
88.8
88.9
89.2
-0.1%
Cash and equivalents
37.6
36.8
52.0
+2.3%
Receivables
110
92.2
91.1
+19.1%
Inventory
207
263
212
-21.4%
Other assets
95.4
81.9
75.5
+16.4%
Total assets
625
664
638
-5.9%
10-K for the year ended 31 December 2014, filed 3 March 2015: the filing.