Callaway’s Second Quarter Below Forecasts

Reuters is reporting that Callaway Golf’s second quarter was below forecasts. Callaway, however,  says that

There apparently are several issues here: one, related to the purchase of Top Flite, and the other:

The maker of the Big Bertha line of clubs is struggling to regain market share from its rivals like Adidas-Salomon’s (ADSG.DE: Quote, Profile, Research) TaylorMade, whose lower-priced models have cut into Callaway’s profits.