Callaway 2013 Annual Report Download - page 74
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F-4
CALLAWAY GOLF COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2013 2012 2011
Net sales............................................................................................................... $ 842,801 $ 834,065 $ 886,528
Cost of sales ......................................................................................................... 528,043 585,897 575,226
Gross profit ................................................................................................... 314,758 248,168 311,302
Selling expenses................................................................................................... 226,496 268,088 265,325
General and administrative expenses................................................................... 68,087 66,773 92,756
Research and development expenses................................................................... 30,937 29,542 34,309
Total operating expenses............................................................................... 325,520 364,403 392,390
Loss from operations............................................................................................ (10,762)(116,235)(81,088)
Interest income..................................................................................................... 558 550 546
Interest expense.................................................................................................... (9,123)(5,513)(1,618)
Other income (expense), net ................................................................................ 6,005 3,152 (8,101)
Loss before income taxes..................................................................................... (13,322)(118,046)(90,261)
Income tax provision............................................................................................ 5,599 4,900 81,559
Net loss................................................................................................................. (18,921)(122,946)(171,820)
Dividends on convertible preferred stock............................................................ 3,332 8,447 10,500
Net loss allocable to common shareholders......................................................... $(22,253)$
(131,393)$
(182,320)
Loss per common share:
Basic ............................................................................................................. $ (0.31)$ (1.96)$ (2.82)
Diluted .......................................................................................................... $ (0.31)$ (1.96)$ (2.82)
Weighted-average common shares outstanding:
Basic ............................................................................................................. 72,809 67,061 64,601
Diluted .......................................................................................................... 72,809 67,061 64,601
The accompanying notes are an integral part of these consolidated financial statements.