FAIRHAVEN, Mass. (AP) _ Acushnet Holdings Corp. (GOLF) on Thursday reported fourth-quarter net income of $21.6 million.

The Fairhaven, Massachusetts-based company said it had profit of 29 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to 39 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The golf products maker posted revenue of $420.5 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $358.8 million.

For the year, the company reported profit of $96 million, or $1.28 per share. Revenue was reported as $1.61 billion.

Acushnet shares have increased 8.5% since the beginning of the year. The stock has increased 55% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOLF at https://www.zacks.com/ap/GOLF

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