2014

Escalade Incorporated Announces Second Quarter Results

    EVANSVILLE, Ind., Aug. 2 /PRNewswire-FirstCall/ -- Escalade, Incorporated
 (Nasdaq:   ESCA) reports that the company's record setting second quarter
 earnings and sales more than offset the first quarter's slow start.  Second
 quarter net sales rose 16% to $32,202,000 bringing year to date net sales to
 $49,707,000, 7.5% ahead of last year.  Net income for the quarter increased
 65% to $2,603,000 or forty cents (40c) per share vs. twenty-four cents
 (24 cents) per share last year.
     Escalade Sports continues to provide all the sales growth.  For the
 quarter, net sales increased 25% to $23,335,000, pushing net income up 76%.
 During the quarter, Escalade Sports acquired the assets of Murrey and Sons
 premium line of indoor and outdoor billiard and soccer tables.  The major
 sporting goods focus for the balance of this year will be to integrate the
 recent acquisitions and develop products for the new brand names recently
 acquired. Our customers continue to plan increased promotions and to provide
 us with forecasts that indicate another growth year for sporting goods.
     Martin Yale's net sales declined 2.2% for the quarter to $8,867,000, while
 net income rose 33%.  During the quarter, Martin Yale completed its relocation
 of West Coast distribution to Tijuana and closed on the sale of one of its two
 Los Angeles properties, resulting in a gain of $423,000.  The sale of the
 second Los Angeles property is currently scheduled for closing in August.
 Martin Yale is continuing to evaluate the opportunity to exclusively market a
 promising and unique patented line of photo frame/desk accessories with a pop
 out front matte and high quality finish.  During the quarter, $232,000 was
 expensed on this project.  If the evaluation continues until year-end, the
 project may require up to $1,000,000 of total expenses, at which time a final
 decision will have been made.  John MacWherter, recently the General Manager
 of a Martin Yale division, has been appointed President and Chief Operating
 Officer of Martin Yale, allowing for full-time management focus on this
 business segment.
     Overall, the outlook for the year continues to be favorable and we
 continue to review acquisition opportunities and other means of enhancing
 shareholder value.
 
 
     (Escalade, Incorporated continued)
 
               (Unaudited in thousands, except per share figures)
 
                      3 Months Ended    6 Months Ended      12 Months Ended
                    July 13,  July 14, July 13, July 14,  July 13,    July 14,
                       2002     2001     2002     2001      2002       2001
 
     Net Sales       $32,202  $27,759  $49,707  $46,255   $152,305   $120,726
     Cost of
       Goods Sold     21,579   18,799   33,913   31,509    109,325     83,405
     Selling & Admin.
       Expense         6,635    5,646   11,617    9,706     23,761     20,809
     Operating Income  3,988    3,314    4,177    5,040     19,219     16,512
     Interest Expense   (246)    (406)    (367)    (723)    (1,003)    (1,944)
     Goodwill            ---     (303)     ---     (530)      (332)      (863)
     Other Income
       (Expense)         326      (50)     151     (217)       (62)      (363)
     Income Before
       Taxes           4,068    2,555    3,961    3,570     17,822     13,342
     Provision for
       Taxes           1,465      977    1,426    1,358      6,360      5,122
     Net Income        2,603    1,578    2,535    2,212     11,462      8,220
     Basic Earnings
       Per Share         .40      .24      .39      .34       1.78       1.27
     Diluted Earnings
       Per Share        $.40     $.24     $.39     $.34      $1.76      $1.26
     Average Shares
       Outstanding     6,495    6,447    6,467    6,468      6,446      6,483
 
 
                                                  July 13, 2002  July 14, 2001
 
     Current Assets                                  $ 52,379       $ 42,524
     Fixed Assets                                      10,017          9,131
     Other Assets                                      12,323          6,157
     Goodwill                                          13,351         10,369
     Total                                           $ 88,070       $ 68,181
 
     Current Liabilities                             $ 31,211       $ 25,712
     Other Liabilities                                 19,516         16,918
     Shareholders' Equity                              37,343         25,551
     Total                                           $ 88,070       $ 68,181
 
 
                           Forward Looking Statements
     This report contains forward-looking statements relating to present or
 future trends or factors that are subject to risks and uncertainties. These
 risks include, but are not limited to, the impact of competitive products and
 pricing, product demand and market acceptance, Escalade's ability to
 successfully integrate the operations of acquired assets and businesses, new
 product development, the continuation and development of key customer and
 supplier relationships, Escalade's ability to control costs, general economic
 conditions, fluctuations in operating results, changes in the securities
 markets and other risks detailed from time to time in Escalade's filings with
 the Securities and Exchange Commission.  Escalade's future financial
 performance could differ materially from the expectations of management
 contained herein.  Escalade undertakes no obligation to update these forward-
 looking statements after the date of this report.
 
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SOURCE Escalade, Inc.

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