Callaway Golf Company.
Callaway Golf is the leading designer, developer, manufacturer, and marketer of high quality, premium-priced, innovative golf clubs and balls. Some of its key products are: Big Bertha ERC II, Forged Titanium drivers, Big Bertha Hawkeye, and Stealhead X-14 irons. Golf clubs accounted for 64% of net sales in 2004; golf balls accounted for 24% and the rest in accessories. The company has about 3000 employees and its partially owned by Arrowhead Trust INC., 12.9%; Wellington Management, 10.6%; Officers & directors own 5.0% of common shares. Callaway Golf was founded in 1982 by CEO Emeritus Ely R. Callaway. Sales were relatively modest until the early 1990's when it introduced a radically improved club head design, eliminating the hosel and building a longer-hitting, more forgiving oversize club. In February, 1992, the company completed an initial public offering underwritten by Merrill Lynch. 2.6 million shares were sold to the public at $20 each. The stock has......
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Approximate Pages: 2 (260 words per double-spaced page) |