Escalade Sport reported sales for the third quarter increased 13.3% to $61.5 million from $54.3 million in the year-ago period, an increase the company said was due primarily to earlier shipments. Escalade Sports saw net income increase 11% for the quarter. The earlier shipments in Q3 are expected to result in a softer fourth quarter versus last year. ESCA still expects the full year for Escalade Sports to be “another good year and end ahead of last year.”
ESCA management said they are “continuing to actively evaluate acquisition opportunities in the sporting goods industry.”
Total Escalade Inc. net sales increased 6.6% to $78.5 million. Operating income for the third quarter decreased 4% compared to the same period last year. However, if non-recurring restructuring costs are excluded, operating income for the quarter increased a healthy 10% compared to last year. Net income fell 29.3% to $4.3 million, or 33 cents per diluted share, versus $6.1 million, or 47 cents per diluted share, in third quarter last year.
