Callaway 2003 Annual Report Download - page 79

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76 CALLAWAY GOLF COMPANY
Company’s independent auditors for 2002 and until otherwise
replaced. During the two fiscal years ended December 31, 2001,
and the subsequent interim period prior to the appointment of
Deloitte & Touche, the Company did not consult with Deloitte
& Touche regarding any of the matters set forth in Item
304(a)(2)(i) or (ii) of Regulation S-K. For a discussion of the
final accounting treatment of the warranty reserve reduction
and the effect on the Company’s financial statements if the
reduction had not been recorded in 2002, see “Item 7.
Management’s Discussion and Analysis of Financial Condition
and Results of Operations — Change in Accounting Estimate.”
Controls and Procedures
As of the end of the period covered by this report, the
Company carried out an evaluation, under the supervision and
with the participation of the Company’s management, including
the Company’s Chief Executive Officer and Chief Financial
Officer, of the effectiveness of the design and operation of the
Company’s disclosure controls and procedures (as defined in
Rule 13a-14(c) of the Securities Exchange Act of 1934). Based
upon that evaluation, the Chief Executive Officer and Chief
Financial Officer concluded that the Company’s disclosure
controls and procedures are effective in timely alerting them to
material information required to be included in the Company’s
periodic filings with the Commission.
There were no significant changes in the Company’s internal
controls over financial reporting or in other factors that could
significantly affect these internal controls subsequent to the
date of their most recent evaluation. Since there were no
significant deficiencies or material weaknesses identified in the
Company’s internal controls, the Company did not take any
corrective actions.
Market for Registrant’s Common
Equity, Related Stockholder Matters
and Issuer Purchases of Equity Securities
The Company’s Common Stock is listed, and principally
trad
ed, on the New York Stock Exchange (“NYSE”). The
Company’s symbol for its Common Stock is “ELY.” As of
February 27, 2004, the approximate number of holders of
record of the Company’s Common Stock was 9,000. The
fol
lowing table sets forth the range of high and low per share
sales prices of the Company’s Common Stock and per share
dividends for the periods indicated.
Years Ended December 31,
Period: 2003 High Low Dividend
First Quarter $ 13.88 $ 10.50 $ 0.07
Second Quarter $ 14.66 $ 11.83 $ 0.07
Third Quarter $ 15.89 $ 13.55 $ 0.07
Fourth Quarter $ 17.07 $ 14.85 $ 0.07
Period: 2002 High Low Dividend
First Quarter $ 20.40 $ 16.51 $ 0.07
Second Quarter $ 20.37 $ 15.55 $ 0.07
Third Quarter $ 16.10 $ 10.09 $ 0.07
Fourth Quarter $ 13.60 $ 9.55 $ 0.07