secwatch.observer — SEC 8-K summary
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Issuer:     ESCALADE INC (ESCA)
CIK:        0000033488
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0001437749-23-004069
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 2.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Escalade Q4 net income $2.7M ($0.20 EPS) vs $4.9M; plans to close Mexico plants
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- Q4 net sales $72.1M (-1.8% YoY); organic sales -14.4%; net income $2.7M ($0.20 diluted) vs $4.9M ($0.36) in Q4 2021.
- Full year 2022 net income $18.0M ($1.31 diluted) vs $24.4M ($1.76) in 2021; EBITDA $32.5M vs $36.9M.
- Board approved closure of Rosarito, Mexico facilities; expects $0.5M-$1.5M pre-tax costs, mostly cash, by Q2 2023.
- Quarterly dividend $0.15/share declared; payable March 20, 2023 to holders of record March 13, 2023.
- Inventory reduced $13M sequentially in Q4; net debt 2.8x trailing EBITDA; $35M credit facility available.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/33488/000143774923004069/0001437749-23-004069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/33488/000143774923004069/esca20230221_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-004069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer