ESCA » Topics » Note 16 - Commitments and Contingencies

This excerpt taken from the ESCA 10-K filed Mar 12, 2008.

Note 16 — Commitments and Contingencies

The Company has obtained a letter of credit for the benefit of a certain mortgage holder. At December 29, 2007, the balance of the letter of credit was $2,734 thousand. It is to be used in the event of a default in either interest or principal payments.

The Company is involved in litigation arising in the normal course of its business. The Company does not believe that the disposition or ultimate resolution of existing claims or lawsuits will have a material adverse effect on the business or financial condition of the Company.

56


ESCALADE, INCORPORATED AND SUBSIDIARIES
Notes to Consolidated Financial Statements

The Company has entered into various agreements whereby it is required to make royalty and license payments. At December 29, 2007, the Company had future estimated minimum non-cancelable royalty and license payments as follows:

 

 

 

 

 

In Thousands

 

Amount

 





 

 

 

 

 

2008

 

$

642

 

2012 and beyond

 

 

100

 

 

 



 

 

 

$

742

 

 

 



 

57


ESCALADE, INCORPORATED AND SUBSIDIARIES
Notes to Consolidated Financial Statements

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

 

ESCALADE, INCORPORATED

 

 

 

By:

 

 

 

/s/ Robert. Keller

March 11, 2008

Robert J. Keller

 

President and Chief Executive Officer

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

 

 

 

 

/s/ Robert E. Griffin

 

Chairman and Director

 

March 11, 2008

Robert E. Griffin

 

 

 

 

 

 

 

 

 

/s/ Blaine E. Matthews, Jr.

 

Director

 

March 11, 2008

Blaine E. Matthews, Jr.

 

 

 

 

 

 

 

 

 

/s/ Edward E. Williams

 

Director

 

March 11, 2008

Edward E. Williams

 

 

 

 

 

 

 

 

 

/s/ Richard D. White

 

Director

 

March 11, 2008

Richard D. White

 

 

 

 

 

 

 

 

 

/s/ George Savitsky

 

Director

 

March 11, 2008

George Savitsky

 

 

 

 

 

 

 

 

 

/s/ Richard Baalmann

 

Director

 

March 11, 2008

Richard Baalmann

 

 

 

 

 

 

 

 

 

/s/ Robert J. Keller
Robert J. Keller

 

President and Chief Executive Officer (Principal Executive Officer)

 

March 11, 2008

 

 

 

 

 

/s/ Terry Frandsen
Terry Frandsen

 

Chief Financial Officer, Secretary and Treasurer (Principal Financial and Accounting Officer)

 

March 11, 2008

58


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki