Golf equipment sales slumping

If Callaway's third quarter report is an indication, the slumping economy is taking its toll on golf equipment manufacturers. Callaway posted lower sales and a loss for the three months ending Sept. 30. The Carlsbad, Calif.-based company generated net sales of $213.5 million, down 9.3 percent compared with a record $235.5 million a year ago. Callaway reported a net loss of $7.5 million compared with net income of nearly $1.4 million a year ago. Company officials cited the economic downturn for its performance, which included substantial international sales. The company said sales in Japan through the first nine months of the year are up 37 percent from last year.