Escalade, Inc.
 earned $1.1 million, or 9 cents a share, in the fourth quarter ended Dec. 26, compared with a loss of $4.6 million a year ago. Revenues declined 11.8% to $29 million from $32.9 million.Sporting Goods net revenues for the quarter and year ended December
26, 2009 were down 11.3%.

For the year, net income increased to $1.7 million or 13
cents per share compared to a loss of $7.5 million, or 59 cents, a year ago. Net income for the year
includes a one-time benefit from the sale of equity investments which
resulted in a gain of $432,000. The gain is a partial recovery
of an asset impairment recorded in the prior year. Without this
one-time benefit, net income for the year would be $1.2 million or 10 cents per share.

Net revenue for the year was down 21.9% to $116 million from $148.7 million; however, the Company has improved
gross margins year to date to 29.1%, compared with 24.6% for the
prior year. In addition, the Company has reduced selling,
administrative and general expenses by 26.1%, mainly due to facility
consolidation in the Sporting Goods segment and company-wide cost
cutting measures implemented over the past year, which resulted in
improved company profitability.

The company’s operating income for the fourth quarter and fiscal year
was $0.6 million and $2.0 million,
respectively, compared to operating losses of $6.4 million and $8.1
million for the same periods last year.

Sporting Goods net revenues for the quarter and year ended December
26, 2009 were down 11.3% and 21.7%, respectively, compared with same
periods last year. The declines are reflective of the general
slowdown in the economy and tightening of credit availability which
has slowed customer spending.

Office Products experienced a similar decline in net revenue for the
quarter and year ended December 26, 2009 showing a decline of 13.0%
and 22.6%, respectively, compared with same periods last year. For
the year, net revenue declined 21.8% in the United States and 23.4%
in Europe. Excluding the effect of changes in foreign currency rates,
year to date net revenue for the Office Products group declined 19.5%
compared with prior year.

The  ompany anticipates net revenue to remain relatively stable for
2010 with slight improvement to operating income resulting from
increased efforts to reduce costs and expand product offerings.

“We are committed to build on our progress achieved in 2009 as we go
forward,” said Robert J. Keller, president and CEO of Escalade, Inc. “Not only are we dedicated to improving
our operations through cost savings initiatives, but we also are
focused on developing and introducing a steady stream of new products
in each of our categories. For example, our all-new line of bows
from Bear Archery, including the top-of-the-line Attack model, have
achieved strong marketplace acceptance and demonstrates our ability
to deliver cutting-edge technology and consumer value.”