Asian sales were a bright spot in an otherwise subdued quarterly financial report from Callaway Golf Co.
But Callaway is being coy about who exactly is developing an interest in its products.
The Carlsbad-based maker of clubs, balls, clothing and accessories reported a net loss of $16 million on net sales of $191 million in the quarter ended Sept. 30. That compares to a smaller net loss — $7.4 million — on greater net sales of $213 million in the same quarter last year.
Callaway made those numbers public Oct. 29, when it also offered a look at sales broken out by geography.
For the just-ended quarter, sales in the United States slid 10 percent to $93 million. Sales in Japan — Callaway’s second largest market — fell 11 percent to $29 million.
But Asian countries outside of Japan registered a strong gain. Sales were $21 million, up 13 percent from the like period last year. Callaway did not name the Asian countries responsible for the growth spurt.
European sales were not quite as large as those in Japan: $27 million, down 19 percent. Other foreign countries were down 18 percent to $20 million.
Callaway offered a preliminary look at its earnings two weeks earlier. Its Oct. 15 release offered some comments from CEO George Fellows about foreign trade.
Good Things Ahead
Fellows sees good things in the International Olympic Committee’s October decision to make golf a part of the 2016 games in Rio de Janeiro, Brazil.
The decision will affect the golf industry globally, Fellows said, particularly in emerging markets such as China, India and Latin America. Countries will begin investing in golf programs, the executive said. A company publicist said governments will likely set up training facilities.
Fellows also said foreign currency exchange rates are becoming more favorable to the company.
Callaway’s public relations department says that in Asia, participation in golf is growing at a rate of 15 percent per year.
China got its first golf course in 1985, and now there are 300 courses in that country.
Callaway employs 2,700 people, including 1,500 in San Diego County.
It markets its products under the Callaway, Odyssey, Top-Flite, Ben Hogan and uPro brands.
Its stock, traded on the New York Stock Exchange as ELY, has had a 52-week range of $4.66 to $10.51. On Nov. 3, shares closed at $6.97.