Escalade announces interim CEO, less profit

Evansville-based sporting goods maker Escalade Inc. today announced that CFO Terry Frandsen will serve as interim CEO following the sudden April 9 death of CEO Daniel Messmer. Frandsen also will continue serving as CFO.

The company has begun a search for Messmer’s permanent replacement.

Escalade also reported $1.1 million in profit for the quarter ended March 24, down from $1.7 million a year earlier. Revenue of $33.5 million rose from $32.8 million.

The company attributed the decrease in profit to higher costs and lower income from its European joint ventures. Escalade also withdrew its previous plan to increase the size of its board from six to seven directors.

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