Rochester, NY 8/28/2009 9:36:44 AM
Escalade issue a statement of a profit broke a trend of losses in the recent time
Escalade, Inc.
Escalade Inc. reported a profit for the second quarter of 2009.Last week, Escalade said it had a profit of $366,000, or 3 cents a share, in its 2009 second quarter, which ended July 11. For the same period a year ago, the Evansville company had reported a loss of $704,000, or 6 cents a share.
The results fell below the estimates of analysts polled who predicted Escalade would have a profit of 10 cents a share in the quarter. Yet the report of a profit broke a trend of losses in recent times. In all of 2008, Escalade lost about $7.5 million. That was followed by a loss of $628,000 for the first quarter of 2009.For the second quarter, Escalade reported decreased sales in both of its product categories: sporting goods and office supplies. Its sales of sporting goods fell to $23.4 million, or by 19.8 percent below the same period a year ago. Escalade’s sales of office supplies fell by 26.3 percent, to $12.2 million.
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