Escalade(ESCA)2024-10-24 10:03Financial Performance - Net sales for Q3 2024 were 8.0 million in Q3 2024 from 5.7 million, or 4.3 million, or 187.6 million, a decline of 5.3% year-over-year[3] - Net income for the three months ended September 2024 was 4,275,000 in the same period last year[11] - EBITDA for the nine months ended September 2024 increased to 17,103,000 for the same period in 2023[11] Cash Flow and Assets - The company generated 14.8 million in Q3 2023[4] - Cash and cash equivalents decreased significantly to 919,000 in September 2023, a drop of 53.7%[10] - Total current assets decreased to 146,831,000 in December 2023, a decline of 1%[10] - Total assets decreased to 253,005,000 in December 2023, a decline of 3.2%[10] Debt and Liabilities - Total debt at the end of Q3 2024 was 72.0 million at the end of Q3 2023[4] - Total liabilities decreased to 88,426,000 in December 2023, a reduction of 15.3%[10] - Current liabilities increased to 33,264,000 in December 2023, an increase of 26.2%[10] - Interest expense for the three months ended September 2024 was 1,325,000 in the same period last year[11] Inventory and Retained Earnings - Inventories decreased to 92,462,000 in December 2023, a decline of 7.5%[10] - Retained earnings increased to 160,099,000 in December 2023, a growth of 2.6%[10] Dividends and Other Announcements - Escalade announced a quarterly dividend of 2.7 million in non-recurring expenses related to ongoing asset and cost rationalization programs during the first nine months of 2024[6] - International sales grew by over 13% year-over-year, and owned e-commerce sales increased by 29%[6] Gross Margin - Gross margin for Q3 2024 was 24.8%, an increase of 10 basis points from the prior year[3]