Escalade, Inc. said a continued focus on product innovation and brand marketing along with notable strength from its sporting good segment doubled earnings for the fiscal fourth quarter ended Dec. 25.
Management for the Evansville, IN-based manufacturer and marketer of sporting goods and information security/print finishing products said pared-down debt has allowed the company to focus more on product innovation and other growth initiatives.
“The Escalade team has a passion for driving top line growth through a balanced strategy of product innovation and brand marketing,” said President and CEO Robert Keller. “Our goal is to be the market leader in each of our categories.”
For the year, Sporting Goods division revenues increased 11.7% to $85.8 million from $76.8 million in the prior year. Operating income jumped 98.9% to $9.2 million from $4.6 million in the prior year, and net income surged 261% to $4.6 million for the year from $1.3 million in fiscal 2009. Sporting Goods sales represented 71% of total company revenues in fiscal 2010, compared to 66% in the 2009 year.
Escalade recorded a fourth quarter revenues of $31.2 million, up 7.4% from sales of $29.0 million in the prior-year quarter. Net income for the quarter was $2.2 million, or 17 cents per diluted share, compared to earnings of $1.1 million, or 8 cents per diluted share, in the year-ago period. The company’s Sporting Goods segment saw net revenues climb 11.7% from the year-ago period on growth from most channels.
Regarding the Sporting Goods segment, the company said it will continue to “aggressively pursue opportunities to increase revenue through introduction of new products, expansion of product distribution, and increased investment in consumer marketing.”
