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Callaway Golf Company

Callaway Golf charting a course out of the rough

Callaway Golf charting a course out of the rough

After a long time in the rough, Callaway Golf Co. may be back on the putting green.

The Carlsbad, Calif., maker of golf clubs, golf balls and related accessories recently reported strong first-quarter results, but Callaway Chief Executive Oliver G. "Chip" Brewer III knows there is more convincing to do among current and potential investors.

Brewer, 50, recently told a group of investors that Callaway "is clearly a historical brand. It's been a leader in the business, and yet, at this point, it is a turnaround story."

Callaway has long been a giant in the golf industry. It's a global brand, with 52% of its sales overseas, mostly in Japan and Europe....