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Callaway Golf Expects Improved First Quarter

Shares of Callaway Golf Co. were trading more than 7 percent higher April 17, after the company offered an estimate of its first-quarter earnings. Callaway plans to report its earnings May 3.

In a statement, the Carlsbad-based company said it expected net sales for the first quarter to be in the range of $330 million to $335 million. Earnings were estimated to range from 46 cents to 48 cents per share.

The company reported net sales of $302 million and earnings of 33 cents per share in the first quarter of 2006.

Shares of Callaway, which uses the symbol ELY on the New York Stock Exchange, stood at $18.33 in afternoon trading April 17, up 7.7 percent from the previous day’s close.

, Brad Graves

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