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Home Daily Golf Briefs Daily Pulse for February 7, 2019

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Web Street Golf Daily Pulse
VOLUME 9, NUMBER 24                                                         
Thursday, February 7, 2019

ANY IDEA WHO SAID THIS? “We talked about maybe playing golf in the near future, and that would be exciting. I think anytime you can play with the current President or former President, I think that's truly an honor, and the fact that he wants to play golf with me is pretty cool.”

BRAIN TEASER: Can you name the last player to win the AT&T Pebble Beach Pro-Am title in consecutive years?

BUSINESS REMAINS STRONG: Callaway Golf put the finishing touches on another strong year. The company reported full year 2018 net sales of $1,243 million, a 19% increase compared to 2017. Callaway was able to increase its total revenues by $194 million last year. The TravisMathew acquisition, the company said, added incremental sales of approximately $60 million. Despite a fourth quarter net loss of $28.15 million on sales of $180.7 million, which was off $11 million from the fourth quarter of 2017, Callaway delivered net income of $105.3 million for the year.

Looking at a product sales breakdown, metal woods came in at $304.5 million, off $3.4 million form 2017. Iron sales were strong at $314.5 million, up $65.8 million. Putter sales were $96.4 million, up $11.8 million, while golf ball sales were $195.7 million, up $33.1 million from 2017. Gear/accessories/other had sales of $329.9 million, up $86.8 million over 2017.

American sales were $706.3 million for 2018, an increase of $141.7 million. European sales were $149.6 million, up $8.7 million, while Japan contributed $223.7 million in sales, up $24.3 million for the year.

With its acquisition of Jack Wolfskin, the company is forecasting annual sales in the range of $1,670 - $1,700 million for this year. Callaway is assuming that overall market conditions will be flat to slightly up in 2019 compared to 2018. It expects sales in its golf equipment business to grow faster than the market with low to mid-single digit growth (4% - 6%) and double digit sales growth in its OGIO and TravisMathew brands and with Jack Wolfskin performing consistent with the sales expectations the Company previously announced.

PUNTERS DELIGHT: The European Tour has announced a new partnership with IMG Arena, a sports betting and content hub, for the collection, distribution and licensing of its official scoring data. As part of the partnership, IMG Arena will also distribute and license the Tour’s official scoring data on an exclusive basis to worldwide media organizations and international regulated sports betting and gaming markets. IMG Arena agreed a similar deal with the PGA Tour in November last year. READ MORE>>>

WEB GEMS:

WAKE UP CALL: Brooks Koepka has publicly rebuked Sergio Garcia for a temper tantrum at the European Tour’s Saudi International on Saturday, and says it is time for the Spaniard to “grow up.” READ MORE>>>

CHANGE IS NEVER EASY: Six weeks into the new year and the new set of golf rules have their first change, this one on caddies standing behind their players. READ MORE>>>

ANSWERS: “We talked about maybe playing golf in the near future, and that would be exciting. I think anytime you can play with the current President or former President, I think that's truly an honor, and the fact that he wants to play golf with me is pretty cool.”--Brooks Koepka on meeting and potentially playing a round with former President Bill Clinton.

Dustin Johnson won the 2009 and 2010 AT&T Pebble Beach Pro-Am titles and became the first player in 20 years to win the event in consecutive years. The others are: Sam Snead (1937, 1938); Cary Middlecoff (1955, 1956); Jack Nicklaus (1972, 1973); Tom Watson (1977, 1978) and Mark O’Meara (1989, 1990).

THE INFORMATION CONTAINED IS BELIEVED TO BE RELIABLE, BUT IT IS NOT GUARANTEED. THE OPINION EXPRESSED IS THAT OF TERRY MCANDREW AND SHOULD NOT BE CONSIDERED A SOLICITATION TO BUY OR SELL SECURITIES IN ANY OF THE COMPANIES DISCUSSED WITHIN THIS NEWSLETTER. CONTENTS OF THIS NEWSLETTER MAY NOT BE REPRINTED OR REBROADCAST WITHOUT THE EXPRESSED WRITTEN CONSENT OF TMAC GOLF