The following information is available for Callaway Golf Company for the years 2004 and 2003. (Dollars are in thousands, except share information.)

2004 Net sales $934,564 Net income (loss) (10,103)

Total assets 735,737 Share information Shares outstanding at year-end 69,111,349 Preferred dividends =()=

There were 65,676,326 shares outstanding at the end of 2002.

Instructions

(a) What was the company’s earnings per share for each year?

2003

$814,032 45,523 748,566 66,862,850

-H-

(b) Based on your findings above, how did the company’s profitability change from 2003 to 2004?