Callaway Reports First Quarter Rise in Sales

Carlsbad-based Callaway Golf Co. announced first quarter net income of $42 million, or 47 cents per diluted share, compared to $32 million or 37 cents per share in the same period last year.

The improvement came despite unfavorable exchange rates for international sales and last year's divesting of the Top-Flite and Ben Hogan brands. Poor exchange rates and inclement weather in the U.S. and Europe that kept golfers off courses could result in slowing sales, but last year's streamlining moves should protect the company's net income, Callaway executives said.

–City News Service