ESCALADE, INCORPORATED AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF INCOME
(Unaudited, In Thousands Except Per Share Amounts)
3 Months Ended 12 Months Ended
---------------------- ----------------------
30 Dec 2006 31 Dec 2005 30 Dec 2006 31 Dec 2005
(Restated) (Restated)
---------- ---------- ---------- ----------
NET SALES $ 44,133 $ 42,425 $ 191,465 $ 183,315
OPERATING EXPENSES
Cost of goods sold 33,138 28,364 137,821 127,719
Selling and administrative 8,484 8,987 39,918 36,401
Restructuring Costs -- (631) -- (631)
---------- ---------- ---------- ----------
OPERATING INCOME 2,511 5,705 13,726 19,826
OTHER INCOME (EXPENSE)
Interest expense (711) (357) (2,637) (1,482)
Other income (expense) 937 283 372 915
---------- ---------- ---------- ----------
INCOME BEFORE INCOME TAXES 2,737 5,631 11,461 19,259
PROVISION FOR INCOME TAXES 146 2,248 2,966 6,343
---------- ---------- ---------- ----------
NET INCOME $ 2,591 $ 3,383 $ 8,495 $ 12,916
========== ========== ========== ==========
PER SHARE DATA
Basic earnings per share $ 0.20 $ 0.26 $ 0.65 $ 0.99
========== ========== ========== ==========
Diluted earnings per
share $ 0.20 $ 0.26 $ 0.65 $ 0.98
========== ========== ========== ==========
Average shares
outstanding 13,036 12,997 13,012 13,055
CONSOLIDATED CONDENSED BALANCE SHEET
(Unaudited, In Thousands)
30 December 2006 31 December 2005
---------------- ----------------
ASSETS
Current assets $ 74,470 $ 70,751
Property, Plant & Equipment - net 20,657 20,307
Other assets 30,561 16,645
Goodwill 25,027 17,157
---------------- ----------------
Total $ 150,715 $ 124,860
================ ================
Current liabilities $ 41,345 $ 28,401
Other liabilities 23,655 19,836
Stockholders equity 85,715 76,623
---------------- ----------------
Total $ 150,715 $ 124,860
================ ================
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.
Contact Information: Contact: Terry Frandsen Vice President and CFO 812/467-1334 or Dan Messmer President and Chief Executive Officer 812/467-4449 www.EscaladeInc.com