Callaway 2008 Annual Report Download - page 6

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important opportunities for growth. In the
first 6 months of 2008, for the first time
in our Company’s history, more than 50
percent of our sales were generated from
outside the U.S. While our international
business will always be subject to currency
exchange fluctuations beyond our control,
this is a trend that should continue in the
future as golf’s popularity expands around
the world.
One initiative that we have backed is the effort by various governing
bodies around the world to get golf back into the Olympics, starting
with the 2016 Summer Games. We’re hopeful that golf’s inclusion would
help spread the game even farther around the globe, spurring growth in
markets that offer us enormous potential.
One of the most promising emerging markets is China. While our
presence there is in its infancy, China offers a wonderful opportunity
for us to grow our business. The same holds true for India. We are
currently developing an entry strategy and plan for the India market,
which, like China, represents tremendous potential for the Company.
Our solid financial footing has allowed us to search for appropriate
acquisition opportunities that can provide incremental growth
opportunities. This kind of forward-thinking led us to this year’s
acquisition of uPlay, LLC. The company is the developer of the state-
of-the-art uPro GPS device that gives golfers actual aerial imagery of
courses with precise distance measurements for better strategizing.
Its functionality and graphics are superior to anything else on the
market. We’re very excited about the possibilities this acquisition
provides us for future applications in product development that will
enhance the golfer’s experience on the course.
In 2008, we once again joined forces with the Callaway Golf Foundation
and the Entertainment Industry Foundation, one of North America’s
leading fund-raising organizations, in launching a multi-media awareness
campaign featuring Academy Award-winning actress Halle Berry to
raise money in support of treatments and finding a cure for ovarian
cancer. The 2nd Annual Callaway Golf Foundation Challenge, a celebrity
pro-am golf tournament, also helped raise funds and awareness for
the cause.
...for the first time in
our company’s history,
more than 50% of our
sales were generated
from outside the US.