-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DzS/6Y+n76ZhA1HM5fM4f3Op72XidYs71YJKAvLsjxF6EY1bY7iM9zEo8gUIvdv3
 fsRFKWtD5tJpMalfvkMCRQ==

<SEC-DOCUMENT>0000950152-03-004141.txt : 20030411
<SEC-HEADER>0000950152-03-004141.hdr.sgml : 20030411
<ACCEPTANCE-DATETIME>20030411155804
ACCESSION NUMBER:		0000950152-03-004141
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20030411
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ESCALADE INC
		CENTRAL INDEX KEY:			0000033488
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				132739290
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1226

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06966
		FILM NUMBER:		03647190

	BUSINESS ADDRESS:	
		STREET 1:		817 MAXWELL AVE
		STREET 2:		P O BOX 899
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47717
		BUSINESS PHONE:		8124671200

	MAIL ADDRESS:	
		STREET 1:		PO BOX 889
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47706

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILLIAMS MANUFACTURING CO
		DATE OF NAME CHANGE:	19710504

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARTIN YALE INDUSTRIES INC
		DATE OF NAME CHANGE:	19720306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARTIN YALE BUSINESS MACHINES CORP
		DATE OF NAME CHANGE:	19820310
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l00224ae8vk.txt
<DESCRIPTION>ESCALADE, INCORPORATED | FORM 8-K
<TEXT>
<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of Report (Date of Earliest event reported): April 11, 2003
                                                          --------------

                             ESCALADE, INCORPORATED
             (Exact name of Registrant as specified in its charter)

          Indiana                       0-6966                 13-2739290
          -------                       ------                 ----------
(State or Other Jurisdiction   (Commission File Number)  (IRS Employer I.D. No.)
     of Incorporation)

                  817 Maxwell Avenue, Evansville, Indiana 47711
                    (Address of Principal Executive Offices)

       Registrant's telephone number, including area code: (812) 467-1200
                                                           --------------

ITEM 9. REGULATION FD DISCLOSURE

On April 11, 2003, Escalade, Incorporated ("Escalade") issued the press release
and quarterly message to shareholders attached hereto as Exhibits 99.1 and 99.2,
respectively. The issuances of the press release and quarterly message to
shareholders are required to be reported, and such public disclosure furnished,
on Form 8-K pursuant to Item 12. Disclosure of Results of Operations and
Financial Condition. Escalade is furnishing the required information on this
Form 8-K pursuant to Item 9 in accordance with the interim filing guidance
provided by the Securities and Exchange Commission in SEC Release No. 33-8216 on
March 27, 2003.


                                   SIGNATURES

Pursuant to the requirements of the Securities Act of 1934, Escalade,
Incorporated has duly caused this report to be signed on its behalf in
Evansville, Indiana by the undersigned hereunto duly authorized.


Date: April 11, 2003           ESCALADE, INCORPORATED
                               By: /s/ John R. Wilson
                                   ---------------------------------
                                   Vice President and Chief Financial Officer



<PAGE>



                                INDEX TO EXHIBITS

EXHIBIT
NUMBER        DESCRIPTION
- -------       -----------
99.1          Press release dated April 11, 2003.

99.2          Message to Shareholders dated April 11, 2003 for quarter ended
              March 22, 2003.







</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>l00224aexv99w1.txt
<DESCRIPTION>EX-99.1
<TEXT>
<PAGE>

                                                                  Exhibit 99.1


             ESCALADE, INCORPORATED ANNOUNCES FIRST QUARTER EARNINGS

                        FIRST QUARTER ENDED MARCH 22,2003


         Evansville, IN (April 11,2003) - - Escalade, Incorporated (NASDAQ:
ESCA)reports the companys seasonally slow first quarter got the year off to a
satisfactory start. Net sales increased 66% to $29,103,000 due primarily to the
inclusion of sales of Schleicher International AG, the German manufacturer and
distributor of paper shredders that we now have a 65% ownership interest in. Net
income inched up to a breakeven reflecting higher operating income partially
offset by higher interest costs.

         Sporting goods sales increased 5% to $11,179,000 as sales from prior
year acquisitions more than offset slower sales of products with high 2002 year
end retail inventories. The second quarter may continue to be a bit slow as our
customers continue to work off their inventories, then, our last half should
show the improvements of our increased product placement. We are continuing to
focus on product development for our new billiard brand names and on sporting
goods acquisitions that provide first year accretive earnings. Escalade Sports
was awarded a fourth consecutive Sears "Partners in Progress" award for its 2002
performance.

         Sales of office and graphic arts products increased 160% to $17,924,000
due entirely to the inclusion of Schleicher sales. Schleicher's net income
improved somewhat to a breakeven level while Martin Yale's net income declined
due primarily to lower sales, a $210,000 loss on the slower than expected
startup sales of the new photo frame and gift line, and increased interest
expense for the Schleicher acquisition. The sluggishness in the office products
segment continues. Martin Yale and Schleicher will continue their cooperative
product development to counter this downward trend.

         During the first quarter, we purchased 5,000 shares of our common
stock. We continue to have authorization from our Board of Directors to purchase
up to three million dollars of our stock in the open market or through privately
negotiated transactions, including shares already purchased, as a means of
enhancing shareholder value.




<PAGE>



(Escalade, Incorporated continued)

               (Unaudited, In Thousands, Except Per Share Figures)

<TABLE>
<CAPTION>
                                        THREE MONTHS ENDED             TWELVE MONTHS ENDED
                                     Mar. 22,       Mar. 23,          Mar. 22,      Mar. 23,
                                       2003           2002              2003          2002
                                     --------       --------          --------      --------
<S>                                  <C>            <C>               <C>           <C>
Net Sales                            $29,103        $17,505           $167,053      $147,862
Cost of Goods Sold                    18,659         12,334            117,489       106,546
Selling & Admin. Expense               9,932          4,982             31,279        22,771
Operating Income                         512            189             18,285        18,545
Interest Expense                        (448)          (121)            (1,277)       (1,163)
Goodwill                                  --             --                 --        (635)
Other Income (Expense)                   (51)          (175)                54          (438)
Income (Loss)Before Taxes
   and Minority Interest                  13           (107)            17,062        16,309
Provision (Benefit)for Taxes               4            (39)             5,847         5,872
Minority Interest Holders Share            2             --                  2            --
Net Income (Loss)                          7            (68)            11,213        10,437
Basic Earnings Per Share                 .00           (.01)              1.72          1.62
Diluted Earnings Per Share           $   .00        $  (.01)          $   1.68      $   1.57
Average Shares Outstanding             6,511          6,429              6,505         6,431
</TABLE>


<TABLE>
<CAPTION>
                              March 22, 2003        March 23, 2002
                              --------------        --------------
<S>                              <C>                   <C>
Current Assets                   $ 64,028              $ 34,988
Fixed Assets                       17,987                10,081
Other Assets                       12,468                12,416
Goodwill                           13,351                13,361
                                 --------              --------
Total                            $107,834              $ 70,846

Current Liabilities              $ 39,254              $ 17,277
Other Liabilities                  22,274                18,945
Shareholders' Equity               46,306                34,624
                                 --------              --------
Total                            $107,834              $ 70,846
</TABLE>


                           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 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.

Contact:   John R. Wilson, VP & CFO            812-467-1265
           C. W. (Bill) Reed, President & CEO  260-563-0621




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>l00224aexv99w2.txt
<DESCRIPTION>EX-99.2
<TEXT>
<PAGE>
                                                                   Exhibit 99.2

                             MESSAGE TO SHAREHOLDERS



         Your company's seasonally slow first quarter got our year off to a
satisfactory start. Net sales increased 66% to $29,103,000 due primarily to the
inclusion of sales of Schleicher International AG, the German manufacturer and
distributor of paper shredders that we now have a 65% ownership interest in. Net
income inched up to a breakeven reflecting higher operating income partially
offset by higher interest costs.

         Sporting goods sales increased 5% to $11,179,000 as sales from prior
year acquisitions more than offset slower sales of products with high 2002 year
end retail inventories. The second quarter may continue to be a bit slow as our
customers continue to work off their inventories, then, our last half should
show the improvements of our increased product placement. We are continuing to
focus on product development for our new billiard brand names and on sporting
goods acquisitions that provide first year accretive earnings. Escalade Sports
was awarded a fourth consecutive Sears "Partners in Progress" award for its 2002
performance.

         Sales of office and graphic arts products increased 160% to $17,924,000
due entirely to the inclusion of Schleicher sales. Schleicher's net income
improved somewhat to a breakeven level while Martin Yale's net income declined
due primarily to lower sales, a $210,000 loss on the slower than expected
startup sales of the new photo frame and gift line, and increased interest
expense for the Schleicher acquisition. The sluggishness in the office products
segment continues. Martin Yale and Schleicher will continue their cooperative
product development to counter this downward trend.

         During the first quarter, we purchased 5,000 shares of our common
stock. We continue to have authorization from our Board of Directors to purchase
up to three million dollars of our stock in the open market or through privately
negotiated transactions, including shares already purchased, as a means of
enhancing shareholder value.

Respectfully,
C.W. Reed
President and Chief Executive Officer
April 11, 2003
<PAGE>
                     ESCALADE, INCORPORATED AND SUBSIDIARIES
                   CONSOLIDATED CONDENSED STATEMENTS OF INCOME
               (UNAUDITED, IN THOUSANDS, EXCEPT PER SHARE FIGURES)


<TABLE>
<CAPTION>
                                                                  3 MONTHS ENDED                       12 MONTHS ENDED
                                                              --------------------------          --------------------------
                                                              MAR. 22,          MAR. 23,          MAR. 22,          MAR. 23,
                                                                2003              2002              2003              2002
                                                              --------          --------          --------          --------
<S>                                                          <C>               <C>               <C>               <C>
NET SALES ...........................................        $  29,103         $  17,505         $ 167,053         $ 147,862

COST AND EXPENSES
         Cost of goods sold .........................           18,659            12,334           117,489           106,546
         Selling and administrative expenses ........            9,932             4,982            31,279            22,771

                Total operating expenses ............           28,591            17,316           148,768           129,317

OPERATING INCOME ....................................              512               189            18,285            18,545
OTHER INCOME (EXPENSE)
         Interest expense ...........................             (448)             (121)           (1,277)           (1,163)
         Other income (expense) .....................              (51)             (175)               54              (438)
         Amortization of goodwill ...................               --                --                --              (635)

                Total other income (expense) ........             (499)             (296)           (1,223)           (2,236)


INCOME (LOSS) BEFORE INCOME TAXES & MINORITY
  INTEREST ..........................................               13              (107)           17,062            16,309
PROVISION (BENEFIT) FOR INCOME TAXES ................                4               (39)            5,847             5,872
MINORITY INTEREST HOLDERS SHARE .....................                2                --                 2                --

NET INCOME (LOSS) ...................................        $       7          $    (68)        $  11,213         $  10,437

PER SHARE DATA:

BASIC EARNINGS PER SHARE ............................        $    0.00          $  (0.01)        $    1.72         $    1.62
DILUTED EARNINGS PER SHARE ..........................        $    0.00          $  (0.01)        $    1.68         $    1.57

AVERAGE SHARES OUTSTANDING ..........................            6,511             6,429             6,505             6,431

</TABLE>

                      CONSOLIDATED CONDENSED BALANCE SHEETS
                            (UNAUDITED, IN THOUSANDS)
<TABLE>
<CAPTION>
                                                              MAR. 22,          MAR. 23,                            DEC. 28,
                                                                2003              2002                                2002
                                                              --------          --------                            --------
<S>                                                          <C>               <C>                                 <C>
ASSETS
         Current assets .............................         $ 64,028          $ 34,988                            $ 59,417
         Property, plant and equipment - net ........           17,987            10,081                               9,060
         Other assets ...............................           12,468            12,416                              14,960
         Goodwill ...................................           13,351            13,361                              13,351
                                                              --------          --------                            --------
                 TOTAL ..............................         $107,834          $ 70,846                            $ 96,788
                                                              ========          ========                            ========
LIABILITIES AND STOCKHOLDERS' EQUITY
         Current liabilities ........................         $ 39,254          $ 17,277                            $ 32,376
         Other liabilities ..........................           22,274            18,945                              18,537
         Stockholders' equity .......................           46,306            34,624                              45,875
                                                              --------          --------                            --------
                 TOTAL ..............................         $107,834          $ 70,846                            $ 96,788
                                                              ========          ========                            ========
</TABLE>






</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
