Escalade, Incorporated reported that revenues for the
second quarter of 2012 improved largely on the strength of its Sporting Goods
business, offset by weakness in its Information Security and Print Finishing
business. Net sales for the quarter
ended July 14 totaled $42 million, up 3 percent over the same quarter last
year.
ESCA’s overall net income in fiscal Q2 was $1.1
million, or 8 cents per share, down from $1.5 million, or 11 cents, in the
comparable year-ago period.
“After favorable spring weather helped drive first
quarter sales, we experienced lower growth in the second quarter,” said
Robert J. Keller, president and CEO of Escalade, Inc. “The 5 percent sales growth and 13
percent 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.”
Sporting Goods business revenues were up 5.7 percent
for the quarter compared to same period last year. Management believes improved sales in the
Sporting Goods segment will continue through the remainder of the year as a
result of further new product placements and continued advertising and
marketing efforts.
Information Security and Print Finishing business revenues
declined 4.6 percent for the second quarter.
Excluding the effects of changes in the currency exchange rates,
revenues decreased 0.5 percent for the quarter.
Revenues in this business segment remained fairly flat to prior year,
and the company expects continued challenges in the international market due
partly to austerity measures, including some of the deepest public sector cuts
in decades in parts of Europe, undertaken in European and other governmental
channels.
