Escalade reports Q3 EPS 40c vs. 31c last year

Reports Q3 revenue $67.74M vs. $73.36M last year. “During a transitional period in consumer demand, we continue to position Escalade (ESCA) for long-term value creation through a combination of portfolio optimization, operational rigor, and fixed cost reductions, along with continued product innovation and brand building investments,” stated Walter Glazer, Jr., president and CEO of Escalade. “During the third quarter, we delivered solid margins across key product lines despite lower sales and non-recurring expenses to reduce our operational footprint as part of an ongoing cost rationalization program. This program encompasses a series of initiatives, including the sale of our Mexico facility, optimization of our Eagan, Minnesota operations, and the wind down of our Orlando, Florida operations which we expect to complete by year end.”