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Earnings Roundup

Callaway Golf profit up 10%

July 31, 2008|From Times Wire Services

Callaway Golf Co. of Carlsbad said its second-quarter profit jumped 10% largely because of growth overseas.

Net income increased to $37.1 million, or 58 cents a share, up from $36.6 million, or 53 cents, a year earlier.

The company's revenue dropped to $366 million, down from $380 million in the second quarter of last year.

The results exceeded Wall Street expectations. Analysts polled by Thomson Financial expected the company to earn 25 cents a share for the quarter.

Shares of Callaway fell 4 cents to $13.63.

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