True Temper, ubiquitous maker of steel golf shafts reported a loss of $170 million in 2008.
Weirdly, it also reported that it reached a sales record of $123 million in the same year.
Not sure how you pull that one off.
Thanks to reader Martin for the tip.
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I am an IT guy now, but Finance was my major in college. I am going to have to review the filings, because for the life of me, I can’t recall what “goodwill impairment” charges might be.
Definition of goodwill impairment here:
http://www.appraisaleconomics.com/goodwill-impairment.htm
Maybe I’m wrong but it sound like True Temper has a large amount of goodwill, but with golf overall getting taking an economic hit, its goodwill isn’t worth as much.