<ARTICLE> 5
<LEGEND>
THE FINANCIAL DATA SCHEDULE HAS BEEN RESTATED TO REFLECT THE COMPANY'S ADOPTION
OF STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 128, "EARNINGS PER SHARE."
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CALLAWAY
GOLF COMPANY CONSOLIDATED CONDENSED BALANCE SHEET (UNAUDITED) AND CONSOLIDATED
CONDENSED STATEMENT OF INCOME (UNAUDITED) AT MARCH 31, 1997 AND 1996 AND FOR THE
THREE MONTH PERIODS THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO 
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED> 
       
                                                  
<PERIOD-TYPE>                   3-MOS                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1996
<PERIOD-END>                               MAR-31-1997             MAR-31-1996
<CASH>                                         113,623                  63,396
<SECURITIES>                                         0                       0
<RECEIVABLES>                                  103,669                  91,240
<ALLOWANCES>                                     6,360                   6,387
<INVENTORY>                                    101,395                  72,021
<CURRENT-ASSETS>                               342,368                 241,854
<PP&E>                                         136,637                  96,359
<DEPRECIATION>                                  37,277                  24,174
<TOTAL-ASSETS>                                 466,230                 326,606
<CURRENT-LIABILITIES>                           89,208                  71,945
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                              728                       0
<PREFERRED>                                          0                       0
<COMMON>                                             0                     718
<OTHER-SE>                                     370,545                 251,515
<TOTAL-LIABILITY-AND-EQUITY>                   466,230                 326,606
<SALES>                                        169,073                 135,138
<TOTAL-REVENUES>                               169,073                 135,138
<CGS>                                           82,071                  66,506
<TOTAL-COSTS>                                   82,071                  66,506
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                                   3                       0
<INCOME-PRETAX>                                 39,599                  30,997
<INCOME-TAX>                                    15,133                  11,542
<INCOME-CONTINUING>                             24,466                  19,455
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                    24,466                  19,455
<EPS-PRIMARY>                                    $0.36                   $0.29
<EPS-DILUTED>                                    $0.34                   $0.28