Callaway Golf has reported a 63 percent increase in net profit to $36,639,000 for the 2nd quarter ended June 30 on 11 percent higher revenues of $380,017,000. The gross margin rose by 25 percent, going up from 41 to 46 percent as compared to one year ago, thanks to inventory reductions and various other margin-enhancement initiatives announced last November. The weak dollar partly boosted European revenues, which jumped by 29 percent to $70.3 million. U.S. sales improved by 10 percent to $204.4 million, with strong revenue and market share increases in Top-Flite golf balls. Sales declined by 1 percent to $33.8 percent in Japan, and they were flat throughout the rest of Asia at $25.6 million. Among the various product groups, the largest gain was recorded in woods, whose sales rose by 30 percent to $111.9 million, fueled by strong demand for FT-5 and FT-1 drivers. Irons were off by 8 percent to $95.4 million and putters were flat at $37.5 million. Sales of golf balls went up by 4 percent to $72/1 million. Callaway’s improved outlook for the full fiscal year calls for net sales of $1.070 to $1.080 billion and net profit of $54-57 million.