| x                                      | Quarterly report pursuant to Section 13 OR 15 (d) of the Securities Exchange Act of 1934 |
|----------------------------------------|------------------------------------------------------------------------------------------|
| For the quarter ended July 10, 2010 or |
|                                   |                                                                                     |
| o                                      | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |

| Indiana(State of incorporation) | 13-2739290(I.R.S. EIN) |
|---------------------------------|------------------------|

| 817 Maxwell Ave, Evansville, Indiana(Address of principal executive office) | 47711(Zip Code) |
|-----------------------------------------------------------------------------|-----------------|

| Large accelerated filer o                                            |   | Accelerated filer o         |
|----------------------------------------------------------------------|--------|-----------------------------|
| Non-accelerated filer o(do not check if a smaller reporting company) |   | Smaller reporting company x |

| Class                |   | Outstanding at July 29, 2010 |
|----------------------|--------|------------------------------|
| Common, no par value |   | 12,732,422                   |

----

|      |                                                                                                                                |   | Page No. |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------|--------|----------|
| Part I.   | Financial Information:                                                                                                              |   |     |   |
|      |                                                                                                                                |   |     |   |
| Item 1 -  | Financial Statements:                                                                                                               |   |     |   |
|      |                                                                                                                                |   |     |   |
|      | Consolidated Condensed Balance Sheets as of July 10, 2010, July 11, 2009, and December 26, 2009                                     |   | 3        |   |
|      |                                                                                                                                |   |     |   |
|      | Consolidated Condensed Statements of Operations for the Three Months and Six Months Ended July 10, 2010 and July 11, 2009           |   | 4        |   |
|      |                                                                                                                                |   |     |   |
|      | Consolidated Condensed Statements of Comprehensive Income for the Three Months and Six Months Ended July 10, 2010 and July 11, 2009 |   | 4        |   |
|      |                                                                                                                                |   |     |   |
|      | Consolidated Condensed Statements of Cash Flows for the Six Months Ended July 10, 2010 and July 11, 2009                            |   | 5        |   |
|      |                                                                                                                                |   |     |   |
|      | Notes to Consolidated Condensed Financial Statements                                                                                |   | 6        |   |
|      |                                                                                                                                |   |     |   |
| Item 2 -  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                         |   | 11       |   |
|      |                                                                                                                                |   |     |   |
| Item 3 -  | Quantitative and Qualitative Disclosures about Market Risk                                                                          |   | 13       |   |
|      |                                                                                                                                |   |     |   |
| Item 4T - | Controls and Procedures                                                                                                             |   | 14       |   |
|      |                                                                                                                                |   |     |   |
| Part II.  | Other Information                                                                                                                   |   |     |   |
|      |                                                                                                                                |   |     |   |
| Item 2 -  | Issuer Purchases of Equity Securities                                                                                               |   | 15       |   |
|      |                                                                                                                                |   |     |   |
| Item 4 -  | Submission of Matters to a Vote of Security Holders                                                                                 |   | 15       |   |
|      |                                                                                                                                |   |     |   |
| Item 6 -  | Exhibits                                                                                                                            |   | 16       |   |
|      |                                                                                                                                |   |     |   |
|      | Signatures                                                                                                                          |   | 17       |   |

----

| PART I. | FINANCIAL INFORMATION |
|---------|-----------------------|
|    |                  |
| Item 1. | FINANCIAL STATEMENTS  |

CONSOLIDATED CONDENSED BALANCE SHEETS

|                                                                                                                                   |   | July 10, 2010 |                        |   | July 11, 2009 |   |                        | December 26, 2009 |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|-----------------------------|--------|---------------|--------|-----------------------------|------------------------|--------|
|                                                                                                                                   |   | (Unaudited)   |                        |   | (Unaudited)   |   |                        | (Audited)              |   |
|                                                                                                                                   |   |          |                        |   |          |   |                        |                   |   |
| ASSETS                                                                                                                                 |   |          |                        |   |          |   |                        |                   |   |
| Current Assets:                                                                                                                        |   |          |                        |   |          |   |                        |                   |   |
| Cash and cash equivalents                                                                                                              |   | $             | 2,463                       |   |          | $      | 4,137                       |                   |   | $ | 3,039 |   |
| Time deposits                                                                                                                          |   |          | 1,250                       |   |          |   | —                     |                   |   |   | 750 |   |
| Receivables, less allowance of $1,479; $1,411; and $1,485; respectively                                                                |   |          |   21,519               |   |          |   |   22,607               |                   |   |   |   23,488 |   |
| Inventories                                                                                                                            |   |          | 26,232                      |   |          |   | 28,102                      |                   |   |   | 20,905 |   |
| Prepaid expenses                                                                                                                       |   |          | 1,416                       |   |          |   | 2,041                       |                   |   |   | 1,617 |   |
| Assets held for sale                                                                                                                   |   |          | —                     |   |          |   | 3,325                       |                   |   |   | — |   |
| Deferred income tax benefit                                                                                                            |   |          | 428                         |   |          |   | 1,945                       |                   |   |   | 1,999 |   |
|     Income tax receivable                                                                                          |   |          | —                     |   |          |   | 3,434                       |                   |   |   | 1,138 |   |
| TOTAL CURRENT ASSETS                                                                                                                   |   |          | 53,308                      |   |          |   | 65,591                      |                   |   |   | 52,936 |   |
|                                                                                                                                   |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Property, plant and equipment, net                                                                                                     |   |          | 20,042                      |   |          |   | 19,488                      |                   |   |   | 21,493 |   |
| Intangible assets                                                                                                                      |   |          | 16,215                      |   |          |   | 17,954                      |                   |   |   | 17,181 |   |
| Goodwill                                                                                                                               |   |          | 25,098                      |   |          |   | 25,750                      |                   |   |   | 26,215 |   |
| Investments                                                                                                                            |   |          | 9,122                       |   |          |   | 9,409                       |                   |   |   | 9,156 |   |
| Deferred income tax benefit                                                                                                            |   |          | 215                         |   |          |   | 723                         |                   |   |   | — |   |
| Other assets                                                                                                                           |   |          | —                     |   |          |   | 678                         |                   |   |   | 257 |   |
|                                                                                                                                   |   | $             | 124,000                     |   |          | $      | 139,593                     |                   |   | $ | 127,238 |   |
|                                                                                                                                   |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                             |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Current Liabilities:                                                                                                                   |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Notes payable                                                                                                                          |   | $             | 13,712                      |   |          | $      | 40,052                      |                   |   | $ | 27,644 |   |
| Current portion of long-term debt                                                                                                      |   |          | 2,000                       |   |          |   | —                     |                   |   |   | — |   |
| Trade accounts payable                                                                                                                 |   |          | 3,443                       |   |          |   | 2,838                       |                   |   |   | 1,578 |   |
| Accrued liabilities                                                                                                                    |   |          | 13,342                      |   |          |   | 14,103                      |                   |   |   | 12,738 |   |
| Deferred compensation                                                                                                                  |   |          | —                     |   |          |   | —                     |                   |   |   | 1,288 |   |
| Income tax payable                                                                                                                     |   |          | 62                          |   |          |   | 961                         |                   |   |   | — |   |
| TOTAL CURRENT LIABILITIES                                                                                                              |   |          | 32,559                      |   |          |   | 57,954                      |                   |   |   | 43,248 |   |
|                                                                                                                                   |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Other Liabilities:                                                                                                                     |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Long-term debt                                                                                                                         |   |          | 8,000                       |   |          |   | —                     |                   |   |   | — |   |
| Deferred income tax liability                                                                                                          |   |          | —                     |   |          |   | —                     |                   |   |   | 1,226 |   |
| Deferred compensation                                                                                                                  |   |          | —                     |   |          |   | 1,236                       |                   |   |   | — |   |
| TOTAL LIABILITIES                                                                                                                      |   |          | 40,559                      |   |          |   | 59,190                      |                   |   |   | 44,474 |   |
| Stockholders’ Equity:                                                                                                            |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Preferred stock:                                                                                                                       |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Authorized 1,000,000 shares; no par value, none issued                                                                                 |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Common stock:                                                                                                                          |   |          |                        |   |          |   |                        |                   |   |   |   |   |
| Authorized 30,000,000 shares; no par value, issued and outstanding – 12,724,832; 12,623,542; and 12,656,737; shares respectively |   |          |       12,725 |   |          |   |       12,624 |                   |   |   |       12,657 |   |
| Retained earnings                                                                                                                      |   |          | 68,161                      |   |          |   | 63,242                      |                   |   |   | 65,341 |   |
| Accumulated other comprehensive income                                                                                                 |   |          | 2,555                       |   |          |   | 4,537                       |                   |   |   | 4,766 |   |
|                                                                                                                                   |   |          | 83,441                      |   |          |   | 80,403                      |                   |   |   | 82,764 |   |
|                                                                                                                                   |   | $             | 124,000                     |   |          | $      | 139,593                     |                   |   | $ | 127,238 |   |

----

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)

|                                         |   | Three Months Ended |   |   | Six Months Ended |   |
|----------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                         |   | July 10, 2010      |   |   | July 11, 2009    |   |   | July 10, 2010 |   |   | July 11, 2009 |   |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |
| Net sales                                    |   | $                  | 35,737 |   |             | $      | 35,641 |   |   | $ | 60,906 |   |   | $ | 60,599 |   |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Costs, expenses and other income:            |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Cost of products sold                        |   |               | 23,828 |   |             |   | 24,579 |   |   |   | 40,444 |   |   |   | 41,675 |   |
| Selling, general and administrative expenses |   |               | 8,068  |   |             |   | 8,748 |   |   |   | 14,929 |   |   |   | 16,771 |   |
| Amortization                                 |   |               | 391    |   |             |   | 940 |   |   |   | 674 |   |   |   | 1,407 |   |
| Operating income                             |   |               | 3,450  |   |             |   | 1,374 |   |   |   | 4,859 |   |   |   | 746 |   |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense, net                        |   |               | (422   | )      |             |   | (658 | ) |   |   | (782 | ) |   |   | (900 | ) |
| Other income                                 |   |               | 53     |   |             |   | 47 |   |   |   | 311 |   |   |   | 231 |   |
| Income before income taxes                   |   |               | 3,081  |   |             |   | 763 |   |   |   | 4,388 |   |   |   | 77 |   |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Provision for income tax                     |   |               | 1,219  |   |             |   | 397 |   |   |   | 1,724 |   |   |   | 150 |   |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                            |   | $                  | 1,862  |   |             | $      | 366 |   |   | $ | 2,664 |   |   | $ | (73 | ) |
|                                         |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Per share data:                              |   |               |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Basic earnings (loss) per share              |   | $                  | 0.15   |   |             | $      | 0.03 |   |   | $ | 0.21 |   |   | $ | (0.01 | ) |
| Diluted earnings (loss) per share            |   | $                  | 0.14   |   |             | $      | 0.03 |   |   | $ | 0.20 |   |   | $ | (0.01 | ) |

| Net income (loss)                                                                                                    |   | $      | 1,862                      |   |   | $      | 366               |   |   | $      | 2,664                     |   |   | $      | (73               | )      |
|----------------------------------------------------------------------------------------------------------------------|--------|--------|----------------------------|--------|--------|--------|-------------------|--------|--------|--------|---------------------------|--------|--------|--------|-------------------|--------|
|                                                                                                                 |   |   |                       |   |   |   |              |   |   |   |                      |   |   |   |              |   |
| Unrealized gain on marketable equity securities available for sale, net of tax of $0, $94, $0, and $75, respectively |   |   |     — |   |   |   |     145 |   |   |   |    — |   |   |   |     116 |   |
|                                                                                                                 |   |   |                       |   |   |   |              |   |   |   |                      |   |   |   |              |   |
| Foreign currency translation adjustment                                                                              |   |   | (1,388                     | )      |   |   |  964         |   |   |   | (2,211                    | )      |   |   |  1,297       |   |
|                                                                                                                 |   |   |                       |   |   |   |              |   |   |   |                      |   |   |   |              |   |
| Comprehensive income                                                                                                 |   | $      | 474                        |   |   | $      | 1,475             |   |   | $      | 453                       |   |   | $      | $1,340            |   |

----

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)

|                                                                                          |   | Six Months Ended |        |
|-----------------------------------------------------------------------------------------------|--------|------------------|-------------|
|                                                                                          |   | July 10, 2010    |        |   | July 11,  2009 |   |
|                                                                                          |   |             |        |   |   |   |
| Operating Activities:                                                                         |   |             |        |   |   |   |
| Net income (loss)                                                                             |   | $                | 2,664       |   |   | $ | (73 | ) |
| Depreciation and amortization                                                                 |   |             | 2,326       |   |   |   | 3,186 |   |
| Loss on disposal of property and equipment                                                    |   |             | 11          |   |   |   | 236 |   |
| Stock-based compensation                                                                      |   |             | 153         |   |   |   | 273 |   |
| Adjustments necessary to reconcile net income (loss) to net cash used by operating activities |   |             | (951        | ) |   |   |      4,230 |   |
| Net cash provided by operating activities                                                     |   |             |  4,203 |   |   |   |  7,852 |   |
|                                                                                          |   |             |        |   |   |   |   |   |
| Investing Activities:                                                                         |   |             |        |   |   |   |   |   |
| Purchase of property and equipment                                                            |   |             | (733        | ) |   |   | (1,580 | ) |
| Purchase of short-term time deposits                                                          |   |             | (500        | ) |   |   | — |   |
| Proceeds from sale of property and equipment                                                  |   |             |  4     |   |   |   |  262 |   |
| Net cash used by investing activities                                                         |   |             | (1,229      | ) |   |   | (1,318 | ) |
|                                                                                          |   |             |        |   |   |   |   |   |
| Financing Activities:                                                                         |   |             |        |   |   |   |   |   |
| Net decrease in notes payable                                                                 |   |             | (3,933      | ) |   |   | (6,473 | ) |
| Proceeds from exercise of stock options                                                       |   |             |  29    |   |   |   |  — |   |
| Stock option forfeiture                                                                       |   |             | (22         | ) |   |   | — |   |
| Director stock compensation                                                                   |   |             | 64          |   |   |   | — |   |
| Net cash used by financing activities                                                         |   |             | (3,862      | ) |   |   | (6,473 | ) |
| Effect of exchange rate changes on cash                                                       |   |             |  312   |   |   |   |  459 |   |
| Net increase (decrease) in cash and cash equivalents                                          |   |             | (576        | ) |   |   | 520 |   |
| Cash and cash equivalents, beginning of period                                                |   |             |  3,039 |   |   |   |  3,617 |   |
| Cash and cash equivalents, end of period                                                      |   | $                | 2,463       |   |   | $ | 4,137 |   |

----

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

----

----

----

----

|  In thousands |   | July 10, 2010 |   |   | July 11, 2009 |   |   | December 26, 2009 |   |
|--------------------|--------|---------------|--------|--------|---------------|--------|--------|-------------------|--------|
|               |   |          |   |   |          |   |   |              |   |
| Raw materials      |   | $             | 6,913  |   |          | $      | 9,574  |              |   | $ | 6,357 |   |
| Work in progress   |   |          | 3,103  |   |          |   | 2,751  |              |   |   | 1,142 |   |
| Finished goods     |   |          | 16,216 |   |          |   | 15,777 |              |   |   | 13,406 |   |
|               |   | $             | 26,232 |   |          | $      | 28,102 |              |   | $ | 20,905 |   |

----

----

|  In thousands      |   | July 10, 2010 |   |   | July 11, 2009 |   |   | December 26, 2009 |   |
|-------------------------|--------|---------------|--------|--------|--------------------|--------|--------|-------------------|--------|
|                    |   |          |   |   |               |   |   |              |   |
| Current assets          |   | $             | 14,582 |   |               | $      | 13,253 |              |   | $ | 19,113 |   |
| Non-current assets      |   |          | 10,897 |   |               |   | 11,907 |              |   |   | 11,939 |   |
| Total assets            |   |          | 25,479 |   |               |   | 25,160 |              |   |   | 31,052 |   |
|                    |   |          |   |   |               |   |   |              |   |   |   |   |
| Current liabilities     |   |          | 7,773  |   |               |   | 7,573  |              |   |   | 9,536 |   |
| Non-current liabilities |   |          | 6,979  |   |               |   | 8,901  |              |   |   | 9,864 |   |
| Total liabilities       |   |          | 14,752 |   |               |   | 16,474 |              |   |   | 19,400 |   |
|                    |   |          |   |   |               |   |   |              |   |   |   |   |
| Net assets              |   | $             | 10,727 |   |               | $      | 8,686  |              |   | $ | 11,652 |   |
|                    |   |          |   |   |               |   |   |              |   |   |   |   |

|         |   | Three Months Ended |   |   | Six Months Ended |   |
|--------------|--------|--------------------|--------|--------|------------------|--------|
|         |   | July 10, 2010      |   |   | July 11, 2009    |   |   | July 10, 2010 |   |   | July 11, 2009 |   |
|         |   |               |   |   |             |   |   |   |   |   |   |   |
| Net Sales    |   | $                  | 8,329  |   |             | $      | 6,411 |   |   | $ | 13,343 |   |   | $ | 10,236 |   |
| Gross Profit |   |               | 3,675  |   |             |   | 2,772 |   |   |   | 5,866 |   |   |   | 4,278 |   |
| Net Loss     |   |               | (576   | )      |             |   | (180 | ) |   |   | (545 | ) |   |   | (420 | ) |

----

----

----

|                                     |   | Six Months Ended |    |
|------------------------------------------|--------|------------------|---------|
| In thousands                             |   | July 10, 2010    |    |   | July 11, 2009 |   |
| Beginning Balance                        |   | $                | 536     |   |   | $ | 954 |   |
| Additions for current year tax positions |   |             | — |   |   |   | 7 |   |
| Additions for prior year tax positions   |   |             | — |   |   |   | — |   |
| Settlements                              |   |             | (262    | ) |   |   | — |   |
| Reductions Settlements                   |   |             | — |   |   |   | — |   |
| Reductions for prior year tax positions  |   |             | (25     | ) |   |   | — |   |
| Ending Balance                           |   | $                | 249     |   |   | $ | 961 |   |

----

|                                                                                                                                             |   | July 10, 2010   |          |   | July 11, 2009 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|---------------|--------|---------------|--------|
| In thousands                       |   | Carrying Amount |          |   | Fair Value    |   |   | Carrying Amount |   |   | Fair Value |   |
| Financial assets                                                                                                                                 |   |            |          |   |          |   |   |   |   |   |   |   |
| Cash and cash equivalents                                                                                                                        |   | $               | 2,463         |   |          | $      | 2,463 |   |   | $ | 4,137 |   |   | $ | 4,137 |   |
| Time deposits                                                                                                                                    |   | $               | 1,250         |   |          | $      | 1,250 |   |   | $ | — |   |   | $ | — |   |
| Available-for-sale securities-mutual funds                                                                                                       |   | $               |  — |   |          | $      |  — |   |   | $ |  1,403 |   |   | $ |  1,403 |   |
|                                                                                                                                             |   |            |          |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                                                                                                                            |   |            |          |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Note payable and Long-term debt                                                                                                                  |   | $               | 23,712        |   |          | $      | 23,712 |   |   | $ | 40,052 |   |   | $ | 40,052 |   |

----

----

----

|                             |   | As of and for the Three MonthsEnded July 10, 2010 |   |
|----------------------------------|--------|---------------------------------------------------|--------|
| In thousands                     |   | Sporting Goods                                    |   |   | Office Products |   |   | Corp. |   |   | Total |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Revenues from external customers |   | $                                                 | 25,577 |   |   | $ | 10,160 |   |   | $ | — |   |   | $ | 35,737 |   |
| Operating income (loss)          |   |                                              | 4,445  |   |   |   | 363 |   |   |   | (1,358 | ) |   |   | 3,450 |   |
| Net income (loss)                |   |                                              | 2,315  |   |   |   | 8 |   |   |   | (461 | ) |   |   | 1,862 |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   | As of and for the Six MonthsEnded July 10, 2010   |   |
| In thousands                     |   | Sporting Goods                                    |   |   | Office Products |   |   | Corp. |   |   | Total |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues from external customers |   | $                                                 | 42,528 |   |   | $ | 18,378 |   |   | $ | — |   |   | $ | 60,906 |   |
| Operating income (loss)          |   |                                              | 6,522  |   |   |   | 655 |   |   |   | (2,318 | ) |   |   | 4,859 |   |
| Net income (loss)                |   |                                              | 3,232  |   |   |   | 181 |   |   |   | (749 | ) |   |   | 2,664 |   |
| Total assets                     |   | $                                                 | 69,908 |   |   | $ | 36,953 |   |   | $ | 17,139 |   |   | $ | 124,000 |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                             |   | As of and for the Three MonthsEnded July 11, 2009 |   |
|----------------------------------|--------|---------------------------------------------------|--------|
| In thousands                     |   | Sporting Goods                                    |   |   | Office Products |   |   | Corp. |   |   | Total |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Revenues from external customers |   | $                                                 | 23,403 |   |   | $ | 12,238 |   |   | $ | — |   |   | $ | 35,641 |   |
| Operating income (loss)          |   |                                              | 2,177  |   |   |   | 502 |   |   |   | (1,305 | ) |   |   | 1,374 |   |
| Net income (loss)                |   |                                              | 691    |   |   |   | 214 |   |   |   | (539 | ) |   |   | 366 |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   | As of and for the Six MonthsEnded July 11, 2009   |   |
| In thousands                     |   | Sporting Goods                                    |   |   | Office Products |   |   | Corp. |   |   | Total |   |
|                             |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues from external customers |   | $                                                 | 38,970 |   |   | $ | 21,629 |   |   | $ | — |   |   | $ | 60,599 |   |
| Operating income (loss)          |   |                                              | 2,212  |   |   |   | 1,500 |   |   |   | (2,966 | ) |   |   | 746 |   |
| Net income (loss)                |   |                                              | 200    |   |   |   | 969 |   |   |   | (1,242 | ) |   |   | (73 | ) |
| Total assets                     |   | $                                                 | 72,727 |   |   | $ | 42,741 |   |   | $ | 24,125 |   |   | $ | 139,593 |   |

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|                                                          |   | Three Months Ended |         |   | Six Months Ended |   |
|---------------------------------------------------------------|--------|--------------------|--------------|--------|------------------|--------|
|  All amounts in thousands                                |   | July 10, 2010      |         |   | July 11, 2009    |   |   | July 10, 2010 |   |   | July 11, 2009 |   |
|                                                          |   |               |         |   |             |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                    |   |               | 12,711       |   |             |   | 12,624 |   |   |   | 12,700 |   |   |   | 12,620 |   |
| Dilutive effect of stock options and restricted stock units   |   |               |  517    |   |             |   |  202 |   |   |   |  488 |   |   |   |  119 |   |
| Weighted average common shares outstanding, assuming dilution |   |               |  13,228 |   |             |   |  12,826 |   |   |   |  13,188 |   |   |   |  12,739 |   |

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| Item 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
|---------|---------------------------------------------------------------------------------------------|

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|                                         |   | Three Months Ended |   |   | Six Months Ended |   |
|----------------------------------------------|--------|--------------------|--------|--------|------------------|--------|
|                                         |   | July 10, 2010      |   |   | July 11, 2009    |   |   | July 10, 2010 |   |   | July 11, 2009 |   |
| Net revenue                                  |   |               | 100.0  | %      |             |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |
| Cost of products sold                        |   |               | 66.7   | %      |             |   | 69.0 | % |   |   | 66.4 | % |   |   | 68.8 | % |
| Gross margin                                 |   |               | 33.3   | %      |             |   | 31.0 | % |   |   | 33.6 | % |   |   | 31.2 | % |
| Selling, administrative and general expenses |   |               | 22.6   | %      |             |   | 24.5 | % |   |   | 24.5 | % |   |   | 27.7 | % |
| Amortization                                 |   |               | 1.1    | %      |             |   | 2.6 | % |   |   | 1.1 | % |   |   | 2.3 | % |
| Operating income                             |   |               | 9.6    | %      |             |   | 3.9 | % |   |   | 8.0 | % |   |   | 1.2 | % |

----

| In thousands                   |   | July 10, 2010 |   |   | July 11, 2009 |   |    | December 26, 2009 |   |
|--------------------------------|--------|--------------------|--------|--------|--------------------|--------|---------|-------------------|--------|
|                           |   |               |   |   |               |   |    |              |   |
| Notes payable short-term       |   | $                  | 13,712 |   |               | $      | 40,052  |              |   | $ | 27,644 |   |
| Current portion long-term debt |   |               | 2,000  |   |               |   | — |              |   |   | — |   |
| Long term debt                 |   |               | 8,000  |   |               |   | — |              |   |   | — |   |
| Total bank debt                |   | $                  | 23,712 |   |               | $      | 40,052  |              |   | $ | 27,644 |   |

| Item 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|---------|------------------------------------------------------------|

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| Item 4T. | CONTROLS AND PROCEDURES |
|----------|-------------------------|

PART II.  OTHER INFORMATION

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| Item 2. |  (c) ISSUER PURCHASES OF EQUITY SECURITIES |
|---------|-------------------------------------------------|

| Period                                                                    |   |   (a) Total Number of Shares (or Units) Purchased |   |    (b) Average Price Paid per Share (or Unit) |   |       | (c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs |      | (d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs |   |
|---------------------------------------------------------------------------|--------|-------------------------------------------------------------|--------|--------------------------------------------------------------|--------|------------|-------------------------------------------------------------------------------------------------|-----------|-----------------------------------------------------------------------------------------------------------------------------|--------|
| Shares purchases prior to 3/20/2010 under the current repurchase program. |   |     982,916                                       |   |                                                         | $      |  8.84 |                                                                                            |      |     982,916                                                                                                       |   |   | $ |   2,273,939 |   |
|                                                                      |   |                                                        |   |                                                         |   |       |                                                                                            |      |                                                                                                                        |   |   |   |   |   |
| Second quarter purchases:                                                 |   |                                                        |   |                                                         |   |       |                                                                                            |      |                                                                                                                        |   |   |   |   |   |
| 03/21/2010–04/17/2010                                               |   | None                                                        |   |                                                         | None   |       |                                                                                            | No Change |                                                                                                                        |   | No Change |   |
| 04/18/2010-05/15/2010                                                     |   |  None                                                  |   |                                                         |   |  None |                                                                                            |      |  No Change                                                                                                             |   |   |   |  No Change |   |
| 05/16/2010-06/12/2010                                                     |   | None                                                        |   |                                                         | None   |       |                                                                                            | No Change |                                                                                                                        |   | No Change |   |
| 06/13/2010-07/10/2010                                                     |   | None                                                        |   |                                                         | None   |       |                                                                                            | No Change |                                                                                                                        |   | No Change |   |
| Total share purchases under the current program                           |   |   982,916                                              |   |                                                         | $      |  8.84 |                                                                                            |      |   982,916                                                                                                              |   |   | $ | 2,273,939 |   |

| Item 3. | Not Required.                                       |
|---------|-----------------------------------------------------|
|    |                                                |
| Item 4. | Submission of Matters to a Vote of Security Holders |

|                                   |   | For    |      |   | Withheld |   |
|----------------------------------------|--------|--------|-----------|--------|----------|--------|
|                                   |   |   |      |   |     |   |
| George Savitsky (2 year term)          |   |   | 7,081,558 |   |     |   | 1,736,920 |   |
| Richard D. White (2 year term)         |   |   | 7,087,929 |   |     |   | 1,730,549 |   |
| Edward E. Williams (2 year term)       |   |   | 7,520,979 |   |     |   | 1,297,499 |   |
| Robert E. Griffin (1 year term)        |   |   | 6,974,531 |   |     |   | 1,843,947 |   |
| Robert J. Keller (1 year term)         |   |   | 6,985,402 |   |     |   | 1,833,076 |   |
| Richard F. Baalmann, Jr. (1 year term) |   |   | 7,519,079 |   |     |   | 1,299,399 |   |
| Patrick J. Griffin (1 year term)       |   |   | 6,921,464 |   |     |   | 1,897,014 |   |
| Blaine E. Matthews, Jr.                |   |   | 986,803   |   |     |   | 7,831,675 |   |

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| Item 5.  | Not Required. |
|---------------|---------------|
|          |          |
| Item 6.  | Exhibits      |

|   | (a) | Exhibits |
|--------|-----|----------|

|   | Number | Description                                                                                                                                                                                                                                                                                                                                      |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 3.1    | Articles of Incorporation of Escalade, Incorporated, incorporated by reference from the Company’s 2007 First Quarter Report on Form 10-Q.                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 3.2    | Amended Bylaws of Escalade, Incorporated, as amended through July 29, 2010.                                                                                                                                                                                                                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 10.1   | Sixth Amendment to Credit Agreement dated as of May 31, 2010 by and between Escalade, Incorporated and JPMorgan Chase Bank, N.A., incorporated by reference from Exhibit 10.1 of the Company’s Form 8-K filed with the SEC on June 4, 2010.                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 10.2   | Overdraft Facility by and between Escalade, Incorporated and JPMorgan Chase Bank, N.A., London Branch, incorporated by reference from Exhibit 10.2 of the Company’s Form 8-K filed with the SEC on June 4, 2010.                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 10.3   | Master Amendment to Pledge and Security Agreements dated as of May 31, 2010 by and among JPMorgan Chase Bank, N.A., Escalade, Incorporated, and Escalade’s domestic subsidiaries, incorporated by reference from Exhibit 10.3 of the Company’s Form 8-K filed with the SEC on June 4, 2010. (1)                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 31.1   | Chief Executive Officer Rule 13a-14(a)/15d-14(a) Certification.                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 31.2   | Chief Financial Officer Rule 13a-14(a)/15d-14(a) Certification.                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 32.1   | Chief Executive Officer Section 1350 Certification.                                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | 32.2   | Chief Financial Officer Section 1350 Certification.                                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                             |
|   | (1)    | Those eleven domestic subsidiaries are:  Indian Industries, Inc.; Harvard Sports, Inc.; Martin Yale Industries, Inc.; U.S. Weight, Inc.; Bear Archery, Inc.; Escalade Sports Playground, Inc.; Schleicher & Co. America, Inc.; Olympia Business Systems, Inc.; EIM Company, Inc.; SOP Services, Inc.; and Escalade Insurance, Inc. |

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SIGNATURE

|                        | ESCALADE, INCORPORATED                                                                                                                                                                                                    |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                        |                                                                                                                                                                                                                      |
| Date: August 02, 2010  | /s/ Deborah Meinert                                  |
|                        | Vice President and Chief Financial Officer                                                                                                                                                                                |

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