Escalade Inc. announced its second-quarter results for 2021, which ended July 10, 2021. The company posted quarterly revenue of $99.7 million, an increase of 19.3 percent over the prior year, posting another record for its second fiscal quarter. Quarterly earnings were down slightly.

“Second quarter results reflect strong demand for our products, offset by sharply higher raw material costs, increased wage pressure, and inventory handling costs. Global supply chain issues persist as our logistics team works to keep goods flowing to our customers. While gross margin declined in the quarter, price increases are beginning to work through the system and tight expense control allowed us to generate EBITDA above last year’s record second quarter,” said Walter P. Glazer, Jr., interim president and CEO, Escalade, Inc.

“Year to date sales are up 31.5 percent and net income has increased 27.3 percent,” continued Glazer. “We enter the back half of the year with ample inventory to serve our retail partners and meet consumer demand. While we expect cost pressures to remain in the near term, we continue to invest in our businesses to bring exciting and innovative products to market that offer superior performance and compelling value to our customers.”

Net sales for the second quarter of 2021 were $99.7 million compared to net sales of $83.5 million for the same quarter in 2020, an increase of $16.2 million or 19.3 percent.

Gross margin ratio for the second quarter of 2021 was 25.2 percent, compared to 27.8 percent for the same period in the prior year. Gross profit for the second quarter of 2021 was $25.1 million compared to gross profit of $23.2 million for the same quarter in 2020.

Selling, general and administrative expenses (SG&A) were $13.8 million for the quarter compared to $11.9 million for the same period in the prior year, an increase of $1.9 million or 15.8 percent. SG&A, as a percent of sales, for the second quarter of 2021 decreased to 13.9 percent from 14.3 percent reported for the same period the prior year.

Operating income for the second quarter of 2021 was $10.7 million compared to operating income of $10.9 million for the same period in the prior year.

Net income for the second quarter of 2021 was $8.1 million, or 58 cents diluted earnings per share compared to net income of $8.7 million, or 61 cents diluted earnings per share for the same quarter in 2020.

The company announced a quarterly dividend of $0.14 per share to be paid to all shareholders of record on September 7, 2021, and disbursed on September 14, 2021.

Escalade Sports’ brands include Bear Archery, Bear X, Trophy Ridge, Rocket, SIK, and Cajun Bowfishing archery equipment; STIGA and Ping-Pong table tennis; Accudart and Unicorn darting; Rave Sports water recreation products; Atomic, Victory Tailgate, Triumph Sports, Viva Sol, Zume Games recreational games; Dura and Onix pickleball equipment; Goalrilla, Goalsetter residential in-ground basketball systems, Goaliath and Silverback residential in-ground and portable basketball goals; Lifeline and the Step fitness products; Woodplay premium playsets; American Heritage Billiards; and Cue&Case.

Photo courtesy Escalade