Escalade reports developments tied to its sporting goods, safety, fitness, and indoor/outdoor recreation equipment business. The company designs, manufactures, and sells branded products such as Goalrilla basketball hoops, STIGA table tennis, Bear Archery equipment, Brunswick Billiards tables, Accudart darts, ONIX pickleball products, Lifeline fitness products, RAVE Sports water recreation products, Victory Tailgate games, and related recreation brands sold online and through retailers.
Recurring news includes quarterly and full-year results, gross margin and cash-flow commentary, dividend actions, capital allocation, and additions to the product portfolio through completed acquisitions such as Gold Tip, Bee Stinger, and AllCornhole. Corporate updates also cover executive appointments, board actions, and scheduled earnings conference calls.
Escalade, Incorporated (NASDAQ: ESCA) reported a remarkable 70.6% year-over-year revenue increase for Q3 2020, totaling $78.1 million—a record for the quarter. Diluted earnings per share reached $0.71, a 306.7% rise from last year. The gross margin expanded to 30.1%, an 820 basis point improvement. Net income surged to $10.2 million compared to $2.5 million in 2019. The company attributes this growth to product innovation, increased demand, and effective supply chain management. Escalade also aims to enhance shareholder value through strategic investments and potential acquisitions.
On October 16, 2020, Escalade Sports announced the acquisition of American Heritage Billiards' assets, expanding their portfolio in recreational equipment. The deal was valued at $1.55 million, paid in cash at closing. This strategic acquisition allows Escalade to combine the American Heritage brand with its existing Cue & Case product line, enhancing its competitive edge in the billiards market. The integration is expected to leverage Escalade's manufacturing expertise and distribution relationships, aiming to accelerate growth and value creation in the billiards industry.
Escalade Sports announced the launch of its new Goalsetter Launch® series basketball hoops, designed for custom courts. The series features telescopic poles allowing smooth height adjustments from 7.5’ to 10’. Customers can easily assemble hoops within 45 minutes. The hoops include a 6” x 6” square steel pole and a corrosion-resistant paint process. Each purchase comes with a basketball net and options for four rim styles. The Launch series is backed by a lifetime warranty and is made entirely in the USA.
Escalade, Incorporated (NASDAQ: ESCA) reported a remarkable second quarter, with net sales reaching $83.5 million, a 50.1% increase from 2019. Diluted EPS surged to $0.61 from $0.13 last year. The solid performance was attributed to strong demand for outdoor and fitness products, despite COVID-19 challenges. The gross margin improved by 450 basis points, reaching 27.8%. The Board approved a 12% increase in the quarterly dividend, raising it from $0.125 to $0.14 per share, set for payment on September 21, 2020. Escalade's financial position allows for strategic growth and shareholder value return.