{"id":772959,"date":"2023-07-27T06:29:34","date_gmt":"2023-07-27T10:29:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/"},"modified":"2023-07-27T06:29:34","modified_gmt":"2023-07-27T10:29:34","slug":"escalade-reports-second-quarter-2023-and-year-to-date-2023-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/","title":{"rendered":"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p>EVANSVILLE, Ind., July  27, 2023  (GLOBE NEWSWIRE) &#8212; Escalade, Inc. (NASDAQ: ESCA, or the \u201cCompany\u201d), a leading manufacturer and distributor of sporting goods and indoor\/outdoor recreational equipment, today announced second quarter and year to date results for 2023.<\/p>\n<p align=\"justify\">\n        <strong>SECOND QUARTER 2023 <\/strong><br \/>\n        <br \/>\n        <em>(As compared to the second quarter 2022)<\/em>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:5pt;text-align:justify\">Net sales were $67.8 million, a decline of 28.2%<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Operating income was $6.3 million, 23.6% below 2022<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">EBITDA totaled $7.7 million, a decline of 25.9%<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Net income of $3.6 million, or $0.26 per diluted share, a decline of $2.0 million<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Cash provided by operations of $8.4 million, an increase of $5.9 million<\/li>\n<\/ul>\n<p>\n        <strong>TWO QUARTERS ENDED JUNE 30, 2023<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>(As compared to the first half 2022)<\/em>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-bottom:5pt;text-align:justify\">Net sales decreased 25.2% to $124.7 million<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Gross margin declined 410 basis points, to 22.2%<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Operating income decreased 62.8% to $6.4 million<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Net income of $2.7 million, or $0.20 per diluted share vs. $12.3 million, or $0.91 per diluted share for 2022<\/li>\n<li style=\"margin-bottom:5pt;text-align:justify\">Cash provided by operations of $12.9 million vs. cash used of $0.3 million<\/li>\n<\/ul>\n<p align=\"justify\">For the second quarter ended June 30, 2023, Escalade reported net income of $3.6 million, or $0.26 per diluted share, versus net income of $5.7 million, or $0.42 per diluted share for the second quarter in 2022. Total net sales declined 28.2% on a year-over-year basis in the second quarter, due to a combination of reduced post-pandemic consumer demand across most product categories, together with 21 fewer days in the Company\u2019s new reporting calendar, when compared to the year-ago period. Excluding the impact of the change in the Company\u2019s reporting calendar, sales declined 9.5% on a year-over-year basis.<\/p>\n<p align=\"justify\">For the two quarters ended June 30, 2023, Escalade reported net income of $2.7 million, or $0.20 per diluted share, versus $12.3 million, or $0.91 per diluted share for the first half of 2022. Total net sales declined 25.2% on a year-over-year basis in the first half of 2023 due mainly to reduced post-pandemic demand, particularly in our archery, basketball, and indoor\/outdoor games categories as well as excess inventory levels in the retail channel.<\/p>\n<p align=\"justify\">Escalade reported second quarter gross margin of 24.6%, a decline of 50 basis points versus the prior-year quarter, primarily driven by higher-cost inventory, elevated inventory storage and handling costs, and lower operating leverage on a comparably lower revenue base partially offset by improved margins in several categories and expense reductions implemented through the second quarter.<\/p>\n<p align=\"justify\">The Company generated $8.4 million of cash flow from operations in the second quarter 2023, compared to $2.5 million for the same quarter in 2022. Earnings before interest, taxes, depreciation, and amortization (\u201cEBITDA\u201d) declined 25.9% to $7.7 million in the second quarter 2023, versus $10.3 million in the prior-year period.<\/p>\n<p align=\"justify\">As of June 30, 2023, the Company had total cash and equivalents of $0.6 million, together with $42.4 million of availability on its senior secured revolving credit facility maturing in 2027. At the end of the second quarter 2023, net debt (total debt less cash) was 4.0x trailing twelve-month EBITDA.<\/p>\n<p align=\"justify\">Escalade\u2019s Board of Directors has declared a quarterly dividend of $0.15 per share of common stock. The dividend is payable on September 5, 2023 to all shareholders of record at the close of business on August 29, 2023.<\/p>\n<p align=\"justify\">Effective January 1, 2023, Escalade transitioned to a conventional twelve-month reporting calendar. The second quarter 2023 had 91 operating days, versus 112 days in the prior year period. Please see the accompanying table in our footnotes for a comparison of the days in each quarter for 2022 and 2023.<\/p>\n<p>\n        <strong>MANAGEMENT COMMENTARY<\/strong>\n      <\/p>\n<p align=\"justify\">&#8220;Recovering from a challenging start to the year and our disappointing first quarter, I am proud that our team demonstrated resilience and delivered strong second quarter results highlighted by substantial growth in cash provided by operations, significant inventory and long-term debt reductions, EBITDA margin expansion, thoughtful expense reductions, and a return to profitability,\u201d stated Walter P. Glazer, Jr., President and CEO of Escalade. \u201cWhile US retail sales of sporting goods are soft and consumer confidence remains dampened by inflationary headwinds, higher interest rates and a mixed employment outlook, we believe our diverse portfolio of leading recreational brands will continue to resonate with consumers. As we look into the second half of the year, we anticipate continued normalization of wholesale channel inventories which should position us to capitalize on restocking opportunities with our retail partners as we move into the holiday season. Continuing with our strategic direction, we remain highly focused on a combination of cost control, improved working capital management, and balance sheet optimization including the divestiture of our owned facility in Rosarito, Mexico.\u201d<\/p>\n<p align=\"justify\">\u201cSales strengthened relative to our first quarter as we continued to gain momentum through the second quarter,\u201d continued Glazer. \u201cNotably, direct to consumer (DTC) sales have continued to accelerate, with DTC sales up more than 60% versus the comparable April to June period in 2022, driven by a combination of effective marketing campaigns and successful new product launches. In the second quarter, we also continued with strong sales growth in the pickleball category versus year-ago second quarter, despite 19% fewer days this year, driven by growing consumer demand for our Onix brand and leading assortment of innovative paddles, balls, and accessories.\u201d<\/p>\n<p align=\"justify\">\u201cSecond quarter gross margin declined on a year-over-year basis, but improved significantly compared to the first quarter, due to expense reductions, factory absorption, price discipline, and a more favorable product mix,\u201d continued Glazer. \u201cLooking to the second half of the year, we anticipate margin expansion opportunities as we expect to continue those favorable trends from the second quarter and work through our higher-cost inventory.\u201d<\/p>\n<p align=\"justify\">\u201cWe remain highly focused on reducing net leverage to within our targeted range of 1.5x to 2.5x,\u201d stated Glazer. \u201cOver the near-term, we will prioritize debt reduction, consistent with our previously stated strategy. During the second half of the year, we expect to materially reduce inventory levels, while closely managing our capital expenditures, thereby positioning us to further reduce net leverage and maintain our stable quarterly cash dividend while supporting our customers and continuing to build our market-leading portfolio of high-quality and beloved brands for our loyal consumer base.\u201d<\/p>\n<p>\n        <strong>CONFERENCE CALL<\/strong>\n      <\/p>\n<p align=\"justify\">A conference call will be held Thursday, July 27, 2023, at 11:00 a.m. ET to review the Company\u2019s financial results, discuss recent events and conduct a question-and-answer session.<\/p>\n<p align=\"justify\">A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of Escalade\u2019s website at www.escaladeinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.<\/p>\n<p align=\"justify\">To participate in the live teleconference:<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:20%;width:20%;min-width:20%\">\n            <strong>Domestic Live:<\/strong>\u00a0\u00a0<\/td>\n<td style=\"max-width:80%;width:80%;min-width:80%\">1-877-407-0792<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>International Live:<\/strong>\u00a0 \u00a0<\/td>\n<td>\u00a01-201-689-8263<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">To listen to a replay of the teleconference, which subsequently will be available through August 10, 2023:<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:20%;width:20%;min-width:20%\">\n            <strong>Domestic Replay:<\/strong>\n          <\/td>\n<td style=\"max-width:80%;width:80%;min-width:80%\">1-844-512-2921<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>International Replay:<\/strong>\n          <\/td>\n<td>1-412-317-6671<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Conference ID:<\/strong>\n          <\/td>\n<td>13740128<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>USE OF NON-GAAP FINANCIAL MEASURES<\/strong>\n      <\/p>\n<p align=\"justify\">In addition to disclosing financial statements in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d), this release contains the non-GAAP financial measure known as \u201cEBITDA.\u201d A reconciliation of this non-GAAP financial measure is contained at the end of this press release. EBITDA is a non-GAAP financial measure that Escalade uses to facilitate comparisons of operating performance across periods. Escalade believes the disclosure of EBITDA provides useful information to investors regarding its financial condition and results of operations. Non-GAAP measures should be viewed as a supplement to and not a substitute for the Company\u2019s U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated.\u00a0Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of the Company\u2019s results as reported under U.S. GAAP and should be evaluated only on a supplementary basis.<\/p>\n<p>\n        <strong>ABOUT ESCALADE <\/strong>\n      <\/p>\n<p align=\"justify\">Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, fitness, and indoor\/outdoor recreation equipment. \u00a0Our mission is to connect family and friends creating lasting memories. Leaders in our respective categories, Escalade\u2019s brands include Brunswick Billiards\u00ae; STIGA\u00ae table tennis; Accudart\u00ae; RAVE Sports\u00ae water recreation; Victory Tailgate\u00ae custom games; Onix\u00ae pickleball; Goalrilla\u2122 basketball; Lifeline\u00ae fitness; Woodplay\u00ae playsets; and Bear\u00ae Archery. Escalade\u2019s products are available online and at leading retailers nationwide. For more information about Escalade\u2019s many brands, history, financials, and governance please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SYpLzzrVQbZJ1JBCNxr9sfdGaAkUSn3wLvqDhO9MyRohjYZkLCHUK-bmgZi1gHuZUTIsBe-U8hkNEgNnfWR4hNoV1_iWuWXfWKQh0jYk2dQ=\" rel=\"nofollow noopener\" target=\"_blank\">www.escaladeinc.com<\/a>.<\/p>\n<p>\n        <strong>INVESTOR RELATIONS CONTACT<\/strong>\n      <\/p>\n<p>Patrick Griffin<br \/>Vice President &#8211; Corporate Development &amp; Investor Relations<br \/>812-467-1358<\/p>\n<p>\n        <strong>FORWARD-LOOKING STATEMENTS\u00a0<\/strong>\n      <\/p>\n<p>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: specific and overall impacts of the COVID-19 global pandemic on Escalade\u2019s financial condition and results of operations; the impact of competitive products and pricing; product demand and market acceptance; new product development; Escalade\u2019s ability to achieve its business objectives; Escalade\u2019s ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and of divestitures or discontinuances of certain operations, assets, brands, and products; the continuation and development of key customer, supplier, licensing and other business relationships; Escalade\u2019s ability to develop and implement our own direct to consumer e-commerce distribution channel; Escalade\u2019s ability to successfully negotiate the shifting retail environment and changes in consumer buying habits; the financial health of our customers; disruptions or delays in our business operations, including without limitation disruptions or delays in our supply chain, arising from political unrest, war, labor strikes, natural disasters, public health crises such as the coronavirus pandemic, and other events and circumstances beyond our control; Escalade\u2019s ability to control costs; Escalade\u2019s ability to successfully implement actions to lessen the potential impacts of tariffs and other trade restrictions applicable to our products and raw materials, including impacts on the costs of producing our goods, importing products and materials into our markets for sale, and on the pricing of our products; general economic conditions, including inflationary pressures; fluctuation in operating results; changes in foreign currency exchange rates; changes in the securities markets; continued listing of the Company\u2019s common stock on the NASDAQ Global Market; the Company\u2019s inclusion or exclusion from certain market indices; Escalade\u2019s ability to obtain financing and to maintain compliance with the terms of such financing; the availability, integration and effective operation of information systems and other technology, and the potential interruption of such systems or technology; the potential impact of actual or perceived defects in, or safety of, our products, including any impact of product recalls or legal or regulatory claims, proceedings or investigations involving our products; risks related to data security of privacy breaches; the potential impact of regulatory claims, proceedings or investigations involving our products; and other risks detailed from time to time in Escalade\u2019s filings with the Securities and Exchange Commission. Escalade\u2019s future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this report.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"16\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">Escalade, Incorporated and Subsidiaries<\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Consolidated Statements of Operations<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">(Unaudited, In Thousands Except Per Share Data)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"16\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Second Quarter Ended<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Two Quarters Ended<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">All Amounts in Thousands Except Per Share Data<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">June 30, 2023<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">July 9, 2022<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">June 30, 2023<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">July 9, 2022<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:45%;width:45%;min-width:45%;vertical-align: top\">Net sales<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">67,771<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">94,337<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">124,702<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">166,717<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Costs and Expenses<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Cost of products sold<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">51,124<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">70,613<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">97,003<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">122,874<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Selling, administrative and general expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,769<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">14,680<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">20,052<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">25,206<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Amortization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">620<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">855<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,240<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,425<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating Income<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">6,258<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">8,189<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">6,407<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">17,212<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other Income (Expense)<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(1,580<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(948<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(2,955<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">(1,508<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Other income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">29<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">25<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">72<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Income Before Income Taxes<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">4,685<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,270<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,477<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">15,776<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Provision for Income Taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,043<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,597<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">787<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,449<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Net Income<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,642<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">5,673<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,690<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">12,327<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Earnings Per Share Data:<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Basic earnings per share<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.27<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.20<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.91<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Diluted earnings per share<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.26<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.42<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.20<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.91<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Dividends declared<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.15<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.15<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.30<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">0.30<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Consolidated Balance Sheets<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">(Unaudited, In Thousands)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">All Amounts in Thousands Except Share Information<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">June 30, <br \/>2023<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">December 31, 2022<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">July 9, <br \/>2022<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">(Unaudited)<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">(Audited)<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">(Unaudited)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">ASSETS<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Current Assets:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:61%;width:61%;min-width:61%;vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Cash and cash equivalents<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">577<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,967<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">6,195<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Receivables, less allowance of $355; $492; and $726; respectively<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">54,975<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">57,419<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">60,011<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Inventories<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">111,676<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">121,870<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">130,246<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Prepaid expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,925<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">4,942<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,263<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Prepaid income tax<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,518<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">&#8212;<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">621<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL CURRENT ASSETS<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">172,671<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">188,198<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">204,336<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Property, plant and equipment, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">24,261<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">24,751<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">28,344<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Assets held for sale<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,823<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,823<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">&#8212;<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Operating lease right-of-use assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">8,669<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,100<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,318<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Intangible assets, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">29,880<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">31,120<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">35,353<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Goodwill<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">42,326<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">42,326<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">39,226<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other assets<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">455<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">400<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">275<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL ASSETS<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">281,085<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">298,718<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">316,852<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Current Liabilities:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Current portion of long-term debt<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,143<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,143<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,143<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Trade accounts payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">14,680<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,414<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">24,650<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Accrued liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,897<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">21,320<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">20,483<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Income tax payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">&#8212;<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">71<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">&#8212;<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Current operating lease liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,002<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">993<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">676<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL CURRENT LIABILITIES<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">32,722<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">38,941<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">52,952<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Other Liabilities:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Long-term debt<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">76,809<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">87,738<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">94,040<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Deferred income tax liability<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">4,516<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">4,516<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">4,759<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Operating lease liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">8,222<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">8,641<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">8,660<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Other liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">407<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">407<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">448<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL LIABILITIES<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">122,676<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">140,243<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">160,859<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Stockholders&#8217; Equity:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Preferred stock:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Authorized 1,000,000 shares; no par value, none issued<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Common stock:<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top\">Authorized 30,000,000 shares; no par value, issued and outstanding \u2013 13,736,800; 13,594,407; and 13,590,407; shares respectively<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n<p>13,737<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n<p>13,594<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">\n<p>13,590<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Retained earnings<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">144,672<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">144,881<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">142,403<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL STOCKHOLDERS&#8217; EQUITY<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">158,409<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">158,475<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">155,993<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">281,085<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">298,718<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">316,852<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Reconciliation of GAAP Net Income to Non-GAAP EBITDA<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">(Unaudited, In Thousands)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"12\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Second Quarter Ended<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Two Quarters Ended<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">All Amounts in Thousands<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">June 30, 2023<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">July 9, 2022<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">June 30, 2023<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">July 9, 2022<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:45%;width:45%;min-width:45%;vertical-align: top\">Net Income (GAAP)<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,642<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">5,673<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,690<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">12,327<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Interest expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,580<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">948<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,955<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,508<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Income tax expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,043<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,597<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">787<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,449<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: top\">Depreciation and amortization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,402<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,130<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,798<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">3,603<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">EBITDA (Non-GAAP)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">7,667<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">10,348<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">9,230<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">20,887<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Comparison of Fiscal Calendar Days for 2023 and 2022 Quarters<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:73%;width:73%;min-width:73%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:13%;width:13%;min-width:13%;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">2023 Days<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">2022 Days<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">First Fiscal Quarter<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">90<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">84<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Second Fiscal Quarter<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">91<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">112<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Third Fiscal Quarter<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">92<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">84<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Fourth Fiscal Quarter<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">92<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">91<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Total Days<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: top\">365<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: top\">371<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: double black 3pt;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MTUyNSM1NzExMjYzIzIwODEwMjI=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/MmFiNzljMDktM2JlMS00N2MwLTg0NTAtYWUxZTNlNTc1ZmRjLTEwOTI1OTM=\/tiny\/Escalade-Incorporated.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EVANSVILLE, Ind., July 27, 2023 (GLOBE NEWSWIRE) &#8212; Escalade, Inc. (NASDAQ: ESCA, or the \u201cCompany\u201d), a leading manufacturer and distributor of sporting goods and indoor\/outdoor recreational equipment, today announced second quarter and year to date results for 2023. SECOND QUARTER 2023 (As compared to the second quarter 2022) Net sales were $67.8 million, a decline of 28.2% Operating income was $6.3 million, 23.6% below 2022 EBITDA totaled $7.7 million, a decline of 25.9% Net income of $3.6 million, or $0.26 per diluted share, a decline of $2.0 million Cash provided by operations of $8.4 million, an increase of $5.9 million TWO QUARTERS ENDED JUNE 30, 2023 (As compared to the first half 2022) Net sales decreased 25.2% to $124.7 million &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Escalade Reports Second Quarter 2023 and Year to Date 2023 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-772959","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Escalade Reports Second Quarter 2023 and Year to Date 2023 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"EVANSVILLE, Ind., July 27, 2023 (GLOBE NEWSWIRE) &#8212; Escalade, Inc. (NASDAQ: ESCA, or the \u201cCompany\u201d), a leading manufacturer and distributor of sporting goods and indoor\/outdoor recreational equipment, today announced second quarter and year to date results for 2023. SECOND QUARTER 2023 (As compared to the second quarter 2022) Net sales were $67.8 million, a decline of 28.2% Operating income was $6.3 million, 23.6% below 2022 EBITDA totaled $7.7 million, a decline of 25.9% Net income of $3.6 million, or $0.26 per diluted share, a decline of $2.0 million Cash provided by operations of $8.4 million, an increase of $5.9 million TWO QUARTERS ENDED JUNE 30, 2023 (As compared to the first half 2022) Net sales decreased 25.2% to $124.7 million &hellip; Continue reading &quot;Escalade Reports Second Quarter 2023 and Year to Date 2023 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-27T10:29:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MTUyNSM1NzExMjYzIzIwODEwMjI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results\",\"datePublished\":\"2023-07-27T10:29:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/\"},\"wordCount\":2067,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg4MTUyNSM1NzExMjYzIzIwODEwMjI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\\\/\",\"name\":\"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results - 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(NASDAQ: ESCA, or the \u201cCompany\u201d), a leading manufacturer and distributor of sporting goods and indoor\/outdoor recreational equipment, today announced second quarter and year to date results for 2023. SECOND QUARTER 2023 (As compared to the second quarter 2022) Net sales were $67.8 million, a decline of 28.2% Operating income was $6.3 million, 23.6% below 2022 EBITDA totaled $7.7 million, a decline of 25.9% Net income of $3.6 million, or $0.26 per diluted share, a decline of $2.0 million Cash provided by operations of $8.4 million, an increase of $5.9 million TWO QUARTERS ENDED JUNE 30, 2023 (As compared to the first half 2022) Net sales decreased 25.2% to $124.7 million &hellip; Continue reading \"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-07-27T10:29:34+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MTUyNSM1NzExMjYzIzIwODEwMjI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results","datePublished":"2023-07-27T10:29:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/"},"wordCount":2067,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4MTUyNSM1NzExMjYzIzIwODEwMjI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/escalade-reports-second-quarter-2023-and-year-to-date-2023-results\/","name":"Escalade Reports Second Quarter 2023 and Year to Date 2023 Results - 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