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Escalade profit misses consensus by 21.5% in fiscal Q1

Escalade Inc. said its normalized net income for the fiscal first quarter ended March 19 came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS fell 50.9% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.5 million, a decrease of 50.8% from $3.1 million in the prior-year period.

The normalized profit margin declined to 4.4% from 9.2% in the year-earlier period.

Total revenue increased year over year to $34.6 million from $33.4 million, and total operating expenses climbed 10.2% year over year to $32.1 million from $29.1 million.

Reported net income decreased 51.9% from the prior-year period to $1.7 million, or 12 cents per share, from $3.6 million, or 25 cents per share.