House & Home
Tue, May 26, 2009Mon, May 25, 2009Fri, May 22, 2009Thu, May 21, 2009Wed, May 20, 2009Tue, May 19, 2009Mon, May 18, 2009Sun, May 17, 2009Fri, May 15, 2009Thu, May 14, 2009Wed, May 13, 2009Tue, May 12, 2009Mon, May 11, 2009Fri, May 8, 2009Thu, May 7, 2009Fri, May 1, 2009Thu, April 16, 2009Wed, April 15, 2009Tue, April 14, 2009Mon, April 13, 2009Thu, April 9, 2009Wed, April 8, 2009Tue, April 7, 2009Mon, April 6, 2009Fri, April 3, 2009Thu, April 2, 2009Wed, April 1, 2009Tue, March 31, 2009Mon, March 30, 2009Fri, March 27, 2009Thu, March 26, 2009Wed, March 25, 2009Tue, March 24, 2009Mon, March 23, 2009Fri, March 20, 2009Thu, March 19, 2009Wed, March 18, 2009Tue, March 17, 2009Mon, March 16, 2009Fri, March 13, 2009Thu, March 12, 2009Wed, March 11, 2009Tue, March 10, 2009Mon, March 9, 2009Fri, March 6, 2009Thu, March 5, 2009Wed, March 4, 2009Tue, March 3, 2009Mon, March 2, 2009Fri, February 27, 2009Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Mon, February 23, 2009Fri, February 20, 2009Escalade, Inc.: Escalade, Inc. Announces New Loan Commitment With JP Morgan Chase
//house-home.news-articles.net/content/2009/03/2 .. es-new-loan-commitment-with-jp-morgan-chase.html
Published in House and Home on Wednesday, March 25th 2009 at 7:53 GMT, Last Modified on 2009-03-25 07:54:27 by Market WireEVANSVILLE, IN--(Marketwire - March 25, 2009) - Escalade, Incorporated (
"We are pleased to have signed a new loan commitment with JP Morgan Chase," stated Robert J. Keller, President and Chief Executive Officer of Escalade, Inc. "We are also making progress on many fronts to streamline our business and expand market opportunities."
The Company has implemented a series of profit improvement initiatives designed to generate improved financial results. These actions include:
- Closing of two manufacturing facilities (Evansville, Indiana and Reynosa, Mexico).
- Consolidating table tennis production into the Rosarito, Mexico facility.
- Reduced headcount by over 20%.
- Reduced officer salaries by 10%.
- Reduced director fees by 10%.
- Reduced 401k company-matched contributions.
- Suspended salary increases for all employees.
- Reduced overall SG&A by 20%.
Escalade is a leading manufacturer and marketer of sporting goods and office products sold worldwide. To obtain more information on the Company and its products, visit our website at: [ www.EscaladeInc.com ] or contact Deborah Meinert, Vice President and CFO at 812/467-1251.
FORWARD LOOKING STATEMENTS
This report contains forward-looking statements relating to present or future trends or factors that are subject to risks and uncertainties. These risks, include, but are not limited to, the impact of competitive products and pricing, product demand and market acceptance, Escalade's ability to successfully integrate the operations of acquired assets and businesses, new product development, the continuation and development of key customer and supplier relationships, Escalade's ability to control costs, general economic conditions, fluctuations in operating results, changes in the securities markets, Escalade's ability to obtain financing and to maintain compliance with the terms of such financing, and other risks detailed from time to time in Escalade's filings with the Securities and Exchange Commission. Escalade's future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to update these forward-looking statements after the date of this report.
