Callaway Golf’s profit rises 11%

Callaway Golf Co. said first-quarter profit rose as sales climbed 11%, and the company raised its outlook for the year.

The maker of golfing equipment said net income rose to $32.8 million, or 48 cents a share, from $22.9 million, or 33 cents, a year earlier. Sales rose to $334.6 million.

The company also raised its 2007 sales and earnings forecasts.

Callaway said it expected 2007 sales of $1.05 billion to $1.07 billion, up from its earlier forecast of $1.04 billion. Callaway also said it expected full-year earnings of 72 to 82 cents a share.

Shares of Carlsbad, Calif.-based Callaway rose a dime to $18.27.