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Home CREAM OF THE CROP:

It doesn’t seem many companies are having the start to the year they envisioned. As noted, Callaway Golf reported lower first quarter sales (-19%), yet a profit. The question is whether it can maintain that trajectory throughout the entire year on the bottom line and reverse it on the top. Its arch rival TaylorMade, via its parent company adidas, shared first quarter sales were off 9% on a currency neutral basis. The German owner company elected not to reveal how the bottom line fared in the quarter. Yesterday, Golf Galaxy reported its first quarter same store golf sales were down 11% from a year ago. While the sentiment may be somber, it doesn’t mean everyone is struggling to gain some traction in the early going.

The Acushnet Company, owner of Titleist and FootJoy, reported first quarter sales were $416.2 million, an increase of 1% from the first quarter of 2014. The company enjoyed an operating profit of $50.4 million and net income of $26 million during the first quarter. In the spirit of its not how much you make, rather what you keep, Acushnet’s bottom line grew by 46% from  a year ago despite a slight uptick in sales. The company proved its a case of managing from within given the market conditions and economic headwinds faced by all.