Quarterly profit grows for Escalade
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Evansville-based sporting goods and recreational equipment manufacturer Escalade Inc. is reporting first-quarter net income of $2.6 million, up from $1.8 million during the same period last year.
Board Chairman Walt Glazer said the results are indicative of the company’s operational discipline initiatives even in times of softening consumer demand.
Net sales for the quarter saw a 3.2% drop to $55.5 million, primarily due to softer demand for basketball and table tennis products, the company said in a news release. The drop was partially offset by an increase in demand for archery and safety products.
Escalade said it was also able to reduce its year-over-year debt by more than half, totaling $23.8 million for the first quarter.
CEO Armin Boehm said the company’s strategic focus remains centered on operational excellence, prudent capital deployment and product innovation even in a time of heightened economic uncertainty.
“Operationally, we are actively managing the evolving global trade environment,” Boehm said. “We began to see the early effects of new tariffs on shipments of imported goods late in the first quarter and are evaluating all available options to mitigate the effect of these additional tariffs and potential supply chain disruptions. We are committed to maintaining a lean cost structure while meeting customer needs.”
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