secwatch / observer
8-K filed February 22, 2023, 6:59 PM ET ticker ESCA CIK 0000033488
earnings confidence high sentiment negative materiality 0.75

ESCALADE INC (ESCA): restructuring charge — Escalade Q4 net income $2.7M ($0.20 EPS) vs $4.9M; plans to close Mexico plants

ESCALADE INC

2022-FY EPS reported $1.31 revenue$313,757,000

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESCALADE INC reported FULL YEAR 2022 (As compared to full year 2021) results: revenue Net Sales were up to prior year at $313.8 million, net income Net income of $18.0 million, or $1.31 per diluted share vs. $24.4 million, or $1.76 per diluted share for 2021, EPS $1.31 per diluted share.

Period
FULL YEAR 2022 (As compared to full year 2021)
Revenue
Net Sales were up to prior year at $313.8 million
Net income
Net income of $18.0 million, or $1.31 per diluted share vs. $24.4 million, or $1.76 per diluted share for 2021
EPS
$1.31 per diluted share
Result
reported results
Exact text from the filing
Net Sales were up to prior year at $313.8 million
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESCALADE INC reported FOURTH QUARTER 2022 (As compared to the fourth quarter 2021) results: revenue Net Sales decreased 1.8% to $72.1 million, net income Net income of $2.7 million, or $0.20 per diluted share vs. $4.9 million, or $0.36 per share for Q4 2021, EPS $0.20 per diluted share.

Period
FOURTH QUARTER 2022 (As compared to the fourth quarter 2021)
Revenue
Net Sales decreased 1.8% to $72.1 million
Net income
Net income of $2.7 million, or $0.20 per diluted share vs. $4.9 million, or $0.36 per share for Q4 2021
EPS
$0.20 per diluted share
Result
reported results
Exact text from the filing
FOURTH QUARTER 2022 (As compared to the fourth quarter 2021) ● Net Sales decreased 1.8% to $72.1 million ● Organic sales, excluding acquisition contributions, declined 14.4% ● Gross margin increased 19 basis points, to 22.4% ● Operating income decreased 23.8% to $4.9 million ● Net income of $2.7 million, or $0.20 per diluted share vs.
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ESCALADE INC announced a restructuring with charges of approximately $0.5 million to $1.5 million affecting manufacturing facilities in Rosarito, Mexico.

Type
restructuring
Charge
approximately $0.5 million to $1.5 million
Affected area
manufacturing facilities in Rosarito, Mexico
Exact text from the filing
operational efficiencies. The Company expects to incur aggregate pre-tax legal expenses, employee severance costs, transportation and other closure expenditures of approximately $0.5 million to $1.5 million in connection with winding down its Mexican operations and disposing of the real estate, building, equipment and other related assets located at these facilities.
View on SEC.gov

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Source: SEC EDGAR
accession 0001437749-23-004069
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