Callaway Golf registered net sales of $118 million for the fourth quarter, consistent with the company's latest guidance, against $154 million in the same period of 2011. Net sales for the full financial year were $832 million, down from $887 million. The net loss for 2012 was of $124 million, down from $171 million in 2011.Net sales related to the company's continuing brands and business totaled $772 million in 2012. During 2012, the California-based company sold the Top-Flite and Ben Hogan brands, licensed its footwear and apparel businesses, began transitioning its GPS business to a third party model, restructured its Americas and European sales organizations, improved its manufacturing and supply chains, and made some key additions to its management team. These and other changes are expected to provide the cultural and behavioral changes at Callaway that should help its turnaround, says the management. On a macroeconomic basis, the company anticipates a slow but steady market recovery in the U.S. as well as growth opportunities in Asia. During the second half of 2012, it saw a stabilization of its overall market share and lower retail inventories as a result of improved sell-throughs in most of its key markets. Additionally, it received an encouraging early response to its 2013 product line and marketing message. For 2013, the company estimates that its net sales should increase to around $850 million, with an increase of 7 percent in the first half for continuing brands and businesses.