-----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,
 LjZXscP460WWDXO3jZTT4SeXCDoMi3c6vDmtLT/wb8qkNXTEJOW45d2yjVwU7H++
 nAUDcoQOdhVG8yRD0X3D1Q==

<SEC-DOCUMENT>0001019056-05-000194.txt : 20050211
<SEC-HEADER>0001019056-05-000194.hdr.sgml : 20050211
<ACCEPTANCE-DATETIME>20050211093955
ACCESSION NUMBER:		0001019056-05-000194
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050211
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050211
DATE AS OF CHANGE:		20050211

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:		05595290

	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:	MARTIN YALE BUSINESS MACHINES CORP
		DATE OF NAME CHANGE:	19820310

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILLIAMS MANUFACTURING CO
		DATE OF NAME CHANGE:	19710504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>escalade_8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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)      February 11, 2005
                                                       -------------------------

                              ESCALADE, INCORPRATED
- --------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

                                     Indiana
- --------------------------------------------------------------------------------
                 (State or Other Jurisdiction of Incorporation)

                0-6996                                 13-2739290
- --------------------------------------------------------------------------------
       (Commission File Number)             (IRS Employer Identification No.)


         251 Wedcor Avenue, Wabash, Indiana 46992                    46992
- --------------------------------------------------------------------------------
         (Address of Principal Executive Offices)                  (Zip Code)

                                 (260) 569-7208
- --------------------------------------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


- --------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

   Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

   [ ]  Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR 230.425)

   [ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
        (17 CFR 240.14a-12)

   [ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR 240.14d-2(b))

   [ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
        Exchange Act (17 CFR 240.13e-4(c))
<PAGE>

Section 2 - Financial Information

Item 2.02   Results of Operations and Financial Condition.

         On February 11, 2005, Escalade, Incorporated ("Escalade") issued the
press release attached hereto as Exhibit 99.1 announcing financial information
regarding Escalade's completed fourth quarter and 2004 fiscal year. The
information hereunder shall not be deemed to be "filed" for the purposes of
Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or
otherwise subject to the liabilities of that section, nor shall it be
incorporated by reference into a filing under the Securities Act of 1933 or the
Exchange Act, except as shall be expressly set forth by specific reference in
such a filing.


Section 9 - Financial Statements and Exhibits

Item 9.01   Financial Statements and Exhibits

         (c)      Exhibits


            EXHIBIT
             NUMBER          DESCRIPTION
               99.1          Press release dated February 11, 2005


                                   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 Wabash,
Indiana by the undersigned hereunto duly authorized.

Date:  February 11, 2005                ESCALADE, INCORPORATED

                                        By: /s/ TERRY D. FRANDSEN
                                            ------------------------------------
                                            Vice President and Chief Financial
                                             Officer

                                       2
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                  EXHIBIT 99.1

PRESS RELEASE

ESCALADE ANNOUNCES FOURTH QUARTER AND FISCAL 2004 RESULTS

Wabash, IN (February 11, 2005) Escalade, Incorporated (NASDAQ: ESCA) announced
today that Fourth quarter net sales declined 15% to $57,588,000 due primarily to
a shift in timing in sporting goods sales, however, full year net sales
increased to a record $220,709,000, a 2% gain over the comparable year ago
period. Fourth quarter net income declined 85% to $946,000 due to $5,206,000 of
non-cash expenses recorded to recognize excess inventory, investment write
downs, and additional restructuring charges including severance and legal fees,
all within the Martin Yale Group's office products operations. Full year net
income declined 47% to $7,827,000 or sixty cents per share. Both the quarter and
the full year results were significantly affected by higher effective tax rates
and costs associated with compliance with Sarbanes-Oxley legislation. During the
year, bank debt was reduced nearly $10,000,000 after using cash of $1,721,000
for dividends and stock repurchases; reflecting cash flow well above net income.

As in the past, the highly seasonal nature of the sporting goods business makes
quarter to quarter comparisons difficult. Escalade Sports' net sales of sporting
goods products declined 19% to $37,316,000 for the quarter, however, full year
net sales increased to $141,644,000, a 5% gain over the prior year's comparable
period. Net income was down 13% for the quarter, but up 11% for the year.
Substantial progress continues to be made in our ongoing operations cost
reduction program. Our customers' inventories are at relatively overall normal
levels so the first half of 2005 may not see gains similar to 2004 when their
inventory levels were lower, however, our improved product offerings and
expanding customer base make us cautiously optimistic that 2005 will be another
good year for sporting goods. Escalade Sports was once again awarded the coveted
Sears Partners in Progress Award for the sixth straight year for its stellar
2004 performance.

Martin Yale's net sales of office products dipped 6% for the quarter to
$20,272,000 resulting in full year net sales of $79,065,000 a decline of 3%
against the comparable year ago period. Net income declined 182% for the quarter
resulting in a loss due to the one time pretax charges of $5,206,000 discussed
above. This coupled with the $2,724,000 of restructuring charges and goodwill
impairment loss recorded in the third quarter put the full year net income down
136%, also a loss. The entire decline in profitability is within the European
operations as the U.S. net income increased during the quarter and for the full
year. The product rationalization that has occurred throughout the year will
make it difficult to achieve a sales increase in 2005, however, the results of
the cost cutting, restructuring, and consolidation efforts should put us in a
more competitive position and provide substantial improved profitability for
2005.

Our European (50% owned) sporting goods joint ventures, Stiga and Escalade
International continued to contribute to earnings, collectively providing $.06
per share for the full year.

We are continuing to evaluate acquisition opportunities in the sporting goods
industry, along with other means of enhancing shareholder value.

Escalade is a quality manufacturer and marketer of sporting goods and
office/graphic arts products sold worldwide. To obtain more information on the
Company and its products, visit our website at: www.EscaladeInc.com or contact
Terry Frandsen Vice President and CFO at 260/569-7208 or C.W. (Bill) Reed,
President and CEO at 260/569-7233.

                                       3
<PAGE>

                     ESCALADE, INCORPORATED AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

               (Unaudited, In Thousands Except Per Share Amounts)
<TABLE>
<CAPTION>

                                                       3 Months Ended                 12 Months Ended
                                                ----------------------------    ----------------------------
                                                 25 Dec 2004     27 Dec 2003     25 Dec 2004     27 Dec 2003
                                                ------------    ------------    ------------    ------------
<S>                                             <C>             <C>             <C>             <C>
NET SALES ...................................   $     57,588    $     67,341    $    220,709    $    216,268

OPERATING EXPENSES
      Cost of goods sold ....................         40,010          50,994         158,391         154,365
      Selling and administrative ............         12,656           8,639          43,070          40,907
      Restructuring Costs ...................            954              --           2,366              --
      Goodwill impairment loss ..............             --              --           1,312              --
                                                ------------    ------------    ------------    ------------

OPERATING INCOME ............................          3,968           7,708          15,570          20,996

OTHER INCOME (EXPENSE)
      Interest expense ......................           (345)           (482)         (1,772)         (2,282)
      Other income (expense) ................           (527)          1,425              19           2,509
                                                ------------    ------------    ------------    ------------

INCOME BEFORE INCOME TAXES ..................          3,096           8,651          13,817          21,223

PROVISION (BENEFIT) FOR INCOME TAXES ........          2,150           2,186           5,990           6,373
                                                ------------    ------------    ------------    ------------

NET INCOME ..................................   $        946    $      6,465    $      7,827    $     14,850
                                                ============    ============    ============    ============

PER SHARE DATA
      Basic earnings per share ..............   $       0.07    $       0.50    $       0.60    $       1.15
                                                ============    ============    ============    ============
      Diluted earnings per share ............   $       0.07    $       0.49    $       0.59    $       1.13
                                                ============    ============    ============    ============
      Average shares outstanding ............         13,031          12,850          12,980          12,937
</TABLE>



CONSOLIDATED CONDENSED BALANCE SHEET

                            (Unaudited, In Thousands)

                                           25 December 2004   27 December 2003
                                           ----------------   ----------------
ASSETS
     Current assets ....................   $         83,402   $         79,619
     Property, Plant & Equipment - net..             16,498             17,537
     Other assets ......................             17,311             18,504
     Goodwill ..........................             17,888             18,777
                                           ----------------   ----------------
        Total ..........................   $        135,099   $        134,437
                                           ================   ================

     Current liabilities ...............   $         47,606   $         54,962
     Other liabilities .................             17,515             18,192
     Stockholders' equity ..............             69,978             61,283
                                           ----------------   ----------------
        Total ..........................   $        135,099   $        134,437
                                           ================   ================

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.

                                       4
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
