Escalade Inc. reported that its Sporting Goods net sales declined 19.8%
and 16.6% in the second quarter and first half of fiscal 2009
respectively. The company expects Sporting Goods sales to be
approximately 20% lower in 2009 compared to 2008 and said it is
continuing to identify and implement cost saving initiatives and
product design enhancements to expand market share and improve the
division's profits.

Escalade sporting goods division makes pool tables, table tennis tables, game tables,
basketball systems and wood playsets, Its sports brands include:
Goalrilla, Goaliath, Silverback, Stiga, Mizerak, Murrey Billiards,
Mosconi Billiards, The Black Widow, ChildLife Harvard Game, Murrey
Game, Accudart, Bear Archery, Fred Bear, Jennings Archery, The Step and
US Weight. It also owns a home furnishings business.

Overall, Escalade reported net income reached $366,000, or 3 cents a share, in the second quarter, compared to a net loss of $704,000, or 6 cents, a year ago. Net sales for the second quarter and first half of fiscal 2009 declined 22.2% and 19.2%, respectively, compared to same periods last year. For the first half of 2009, the company said it has improved gross margins by 330 basis points and reduced selling, administrative and general expenses by 22%, mainly due to facility consolidation in the Sporting Goods segment and company-wide cost cutting measures implemented last year, resulting in improved Company profitability.

Compared to last year, Office Products sales declined 26.3% and 23.4% for the second quarter and first half of fiscal 2009, respectively. Sales declined 21.8% in the United States and 24.8% in Europe for the first half of 2009. The company expects sales declines for the remainder of 2009 to be relatively unchanged from the decline experienced in the first half of fiscal 2009.

“Although we continue to experience challenging conditions in the retail market, we are pleased to deliver improved earnings and cash flow during the second quarter,” said Robert J. Keller, President and Chief Executive Office of Escalade, Inc. “Our aggressive cost savings initiatives, including facility consolidation and operational streamlining, have resulted in improved gross margins and lower SG&A expenses. Our focus on working capital management has generated significant improvements in cash flow through the first half of 2009. In addition to streamlining our operation and reducing inventory levels, we are diligently focused on building our core brands through strategic marketing investments, innovative new products, and increased product distribution.”

                  ESCALADE, INCORPORATED AND SUBSIDIARIES
              CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
            (Unaudited, In Thousands Except Per Share Amounts)

                Three Months Ended   Six Months Ended   Twelve Months Ended
                ------------------  ------------------  ------------------
                11 July   12 July   11 July   12 July   11 July   12 July
                  2009      2008      2009      2008      2009      2008
                --------  --------  --------  --------  --------  --------
NET SALES       $ 35,641  $ 45,796  $ 60,599  $ 74,962  $134,323  $176,541

OPERATING
 EXPENSES
  Cost of goods
   sold           24,579    33,275    41,675    54,018    99,795   129,496
  Selling and
   administrative  8,748    12,578    16,771    21,620    35,034    39,069
  Long-lived
   asset
   impairment         --        --        --        --     2,623
                --------  --------  --------  --------
  Amortization       940       732     1,407     1,169     2,174     2,380
                --------  --------  --------  --------  --------  --------

OPERATING
 INCOME (LOSS)     1,374      (789)      746    (1,845)   (5,303)    5,596

OTHER INCOME
 (EXPENSE)
  Interest
   expense          (658)     (660)     (900)   (1,147)   (1,778)   (2,515)
  Other income
   (expense)          47        43       231       205      (235)    3,342
                --------  --------  --------  --------  --------  --------

INCOME (LOSS)
 BEFORE INCOME
 TAXES               763    (1,406)       77    (2,787)   (7,316)    6,423

PROVISION FOR
 INCOME TAXES        397       702       150     1,235    (1,299)   (2,252)
                --------  --------  --------  --------  --------  --------

NET INCOME
 (LOSS)         $    366  $   (704) $    (73) $ (1,552) $ (6,017) $  4,171
                ========  ========  ========  ========  ========  ========

PER SHARE DATA
  Basic
   earnings
   (loss) per
   share        $   0.03  $  (0.06) $  (0.01) $  (0.12) $  (0.48) $   0.33
                ========  ========  ========  ========  ========  ========
  Diluted
   earnings
   (loss) per
   share        $   0.03  $  (0.06) $  (0.01) $  (0.12) $  (0.46) $   0.33
                ========  ========  ========  ========  ========  ========
  Average
   shares
   outstanding    12,624    12,635    12,620    12,656    12,618    12,713