Escalade, Inc. announced that net income for the first quarter of 2014 was $2.3 million, or 16 cents per share compared to net income of $1.6 million, or 12 cents, for the same quarter in 2013. Consolidated net sales for the first quarter of 2014 were 7 percent higher than the same quarter last year. Net sales for the Sporting Goods segment increased by 10 percent while quarterly net sales in the Information Security and Print Finishing segment declined 3 percent compared with the same period last year.
The increase in net income for the quarter was driven by cost cutting measures implemented last year in the Information Security and Print Finishing segment and sales increases in the Sporting Goods segment attributable to new product development, brand marketing and product expansion which have increased consumer demand for our products.
“We are pleased with achieving earnings per share growth of 33 percent for the first quarter of 2014,” stated Robert J. Keller, President and Chief Executive Officer of Escalade, Inc. “In spite of modest growth in the broader retail market, we experienced double digit sales growth in our Sporting Goods segment. Additionally, actions taken over the past year in our Information Security and Print Finishing segment have resulted in substantial improvements in the financial results for this business.”
Escalade is a leading manufacturer and marketer of sporting goods and information security and print finishing products sold worldwide.