Business news : Escalade's Q2 Sporting Good Revenues Rise 5.7 Percent

Escalade, Incorporated reported that revenues for the second quarter of 2012 were up 3 percent over the same quarter last year. Year to date revenues have increased more than 5 percent over the same period last year.  

The company generated net income for the quarter of $1.1 million, or 8 cents per share, down from $1.5 million or 11 cents a year ago.  For the first half of 2012, net income is $2.7 million or $0.20 basic and diluted earnings per share, while the first half of 2011 also showed net income of $2.7 million with $0.21 basic and $0.20 diluted earnings per share.   

Revenues from the Sporting Goods business were up 5.7 percent for the quarter and 9.6 percent for the first half of 2012, compared to the same periods prior year.  Management believes improved sales in the Sporting Goods segment will continue through the remainder of the year as the company builds on new product placements and expanded brand-building activity.

Revenues from the Information Security and Print Finishing business decreased 4.6 percent and 4.9 percent for the second quarter and first half of 2012, respectively, compared to last year. Excluding the effects of changes in the currency exchange rates, revenues decreased 0.5 percent and 1.7 percent, for the second quarter and first half of 2012, respectively.  Revenues in this business segment remain fairly flat to prior year and the company expects continued challenges in the international market due partly to austerity measures taken in European and other governmental channels.

"After favorable spring weather helped drive first quarter sales, we experienced lower growth in the second quarter," stated Robert J. Keller, President and Chief Executive Officer of Escalade, Inc.  "The 5% sales growth and 13% operating income growth in the first half are reflective of the overall improvement in the business.  While it appears consumers will be more cautious with spending in the second half of 2012, we anticipate continued growth through new product placements and expanded brand-building activity."

Escalade is a manufacturer and marketer of sporting goods and information security/print finishing products sold worldwide. Its sporting goods brands include Bear Archery, Trophy Ridge, Whisker Biscuit, STIGA, Ping-Pong, Goalrilla, Goaliath, Silverback, Woodplay, Childlife, The STEP, USWeight, Harvard Game, Atomic, Accudart, Mosconi, and Mizerak.

(SportsOneSource Media)