FAIRHAVEN, Mass. (AP) — FAIRHAVEN, Mass. (AP) — Acushnet Holdings Corp. (GOLF) on Thursday reported a loss of $34.9 million in its fourth quarter.
On a per-share basis, the Fairhaven, Massachusetts-based company said it had a loss of 58 cents. Losses, adjusted to extinguish debt, came to 30 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The golf products maker posted revenue of $477.2 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $453.8 million.
For the year, the company reported profit of $188.5 million, or $3.11 per share. Revenue was reported as $2.56 billion.
Acushnet expects full-year revenue in the range of $2.63 billion to $2.68 billion.
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