March 25, 2020 / 9:15 PM / 14 days ago

BRIEF-Callaway Golf Says Business Being Materially Impacted To Various Degrees Due to COVID-19

March 25 (Reuters) - Callaway Golf Co:

* CALLAWAY GOLF - AS COVID-19 CONTINUES TO SPREAD AROUND WORLD, BUSINESS IS BEING MATERIALLY IMPACTED TO VARIOUS DEGREES

* CALLAWAY GOLF CO - BUSINESS IN ASIA, INCLUDING LARGE PORTION OF SUPPLY CHAIN, SAW SIGNIFICANT NEGATIVE IMPACTS EARLIER IN QUARTER

* CALLAWAY GOLF CO - BUSINESS IN ASIA HAS NOW BEGUN TO SHOW EARLY SIGNS OF STABILITY AND APPEARS TO BE ON A PATH TO RETURNING TO NORMAL OPERATIONS

* CALLAWAY GOLF CO - U.S. AND EUROPEAN BUSINESSES HAVE ONLY RECENTLY STARTED TO REALIZE SIGNIFICANT NEGATIVE IMPACTS

* CALLAWAY GOLF CO - EXPECT TO REALIZE SOME DELAYS IN SHIPMENT AS LOCAL GOVERNMENT REGULATIONS CAUSE TEMPORARY SHUTDOWN OF CERTAIN WAREHOUSES

* CALLAWAY GOLF CO - NO LONGER EXPECT TO ACHIEVE FINANCIAL GUIDANCE PROVIDED ON FEBRUARY 10, 2020

* CALLAWAY GOLF CO - UNABLE TO PROVIDE FURTHER GUIDANCE AT THIS TIME

* CALLAWAY GOLF CO - PROACTIVELY TAKING ACTIONS TO SIGNIFICANTLY REDUCE COSTS AND CONSERVE CASH

* CALLAWAY GOLF CO - BELIEVE COMPANY HAS ADEQUATE CASH ON HAND AND BORROWING CAPACITY UNDER ITS CREDIT FACILITIES

* CALLAWAY GOLF CO - TAKING SIGNIFICANT STEPS TO REDUCE DISCRETIONARY SPENDING AND INFRASTRUCTURE COSTS Source : (bit.ly/2JdTOS3) Further company coverage:

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