Callaway Golf has raised its guidance for this year's earnings, predicting pre-tax income of between $19 million and $21 million, but repeats that sales will rise by 6 percent to about $890 million, indicating gains in market share. On the other hand, the company, which generates half of its turnover outside the U.S., has warned that the rising value of the U.S. dollar will have a significant impact on its 2015 results. The change in exchange rates in the last two months alone has reduced its sales projections for next year by $31 million and its profit forecast by 26 cents per share. If the foreign currency trends persist, Callaway may react by changing local market pricing, shifting sourcing and cost management.

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