Escalade, Incorporated announced that net income for the first quarter of 2012 was $1.6 million, or 12 cents per share, compared to net income of $1.2 million, or 9 cents, for the same quarter in 2011. Net revenues for the first quarter of 2012 were 9 percent higher than the same quarter last year. The company continues to focus on product innovation and brand marketing to drive product demand.
In the Sporting Goods segment, net revenue increased 15.8% in the first quarter of 2012 compared to the same quarter in 2011. An overall increase in consumer spending and demand for the Company's products was further aided by mild weather in parts of the U.S. which helped jump start sales in the basketball and playground categories. Management believes improved sales in the Sporting Goods segment will continue through the remainder of the year; however, the improvement may be less than that experienced in the first quarter.
Net revenue in the Information Security and Print Finishing segment decreased 5.2% in the first quarter 2012 compared to the same quarter in 2011. The decrease in sales is the result of the timing of certain shipments made in the first quarter of the prior year that were not repeated this year. The Company expects revenues for the remainder of the year to equal or exceed prior year.
“Growing demand for our product line, favorable weather and improved consumer spending trends have all contributed to excellent results for the first quarter,” stated Robert J. Keller, President and Chief Executive Officer of Escalade, Inc. “Our consumers are embracing the investments we are making in product innovation and brand marketing, resulting in new product placement and increased sell-through at retail.”
Escalade is a leading manufacturer and marketer of sporting goods and information security and print finishing products sold worldwide.
