<PAGE>
===============================================================================
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549
                       ----------------------------------
                                    FORM 10-Q

    (Mark One)
    [ X ]         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                  OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended              June 30, 2001
                              -------------------------------------------------

                                       OR

    [   ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR
                  15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                       to
                              ----------------------    ----------------------
Commission file number                     0 - 19596
                       --------------------------------------------------------

                               THE HOCKEY COMPANY
             (Exact name of registrant as specified in its charter)

               Delaware                                       13-36-32297
    (State or other jurisdiction of                          (IRS Employer
     incorporation or organization)                        Identification No.)

c/o Maska U.S., Inc., 929 Harvest Lane, P.O. Box 1200, Williston, VT      05495
-------------------------------------------------------------------------------
       (Address of principal executive offices)                      (Zip code)

Registrant's telephone number, including area code               (802) 872-4226
                                                   ----------------------------

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days:

          YES     X                                      NO
              --------                                      --------

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                  PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

     Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Section 12, 13 or 15 (d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under the plan
confirmed by the court:

          YES     X                                      NO
              --------                                      --------

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

           Class                             Outstanding at August 6, 2001
-------------------------------------------------------------------------------
       Common Stock,                                   6,500,549
      $.01 par value


<PAGE>
                               THE HOCKEY COMPANY
                                    FORM 10-Q
                                      INDEX
<TABLE>
<CAPTION>
                                                                                                    PAGE NO.
                                                                                                    --------
<S>        <C>                                                                                      <C>
PART I     FINANCIAL INFORMATION

Item 1.    Financial Statements

           Unaudited and Audited Consolidated Balance Sheets at June 30, 2001 and December 31, 2000     1

           Unaudited Consolidated Statements of Operations for the Three and Six Months ended June
           30, 2001 and for the Three and Six Months ended June 30, 2000                                2

           Unaudited Consolidated Statements of Comprehensive Loss for the Three
           and Six Months  ended June 30,  2001 and for the Three and Six Months
           ended June 30, 2000                                                                          3

           Unaudited Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2001
           and for the Six Months ended June 30, 2000                                                   4

           Notes to Unaudited Consolidated Financial Statements                                         5


Item 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations       12



PART II    OTHER INFORMATION

Item 1.    Legal Proceedings                                                                           16


Item 2.    Changes in Securities                                                                       16


Item 3.    Defaults Upon Senior Securities                                                             16


Item 4.    Submission of Matters to a Vote of Security Holders                                         16


Item 5.    Other Information                                                                           16


Item 6.    Exhibits and Reports on Form 8-K                                                            16
</TABLE>


<PAGE>
                               THE HOCKEY COMPANY
                           CONSOLIDATED BALANCE SHEETS
                                 (In thousands)
<TABLE>
<CAPTION>
                                                                           Unaudited               Audited
                                                                         -------------          -------------
                                                                         June 30, 2001          Dec. 31, 2000
                                                                         -------------          -------------
<S>                                                                      <C>                    <C>
ASSETS

Current assets
     Cash and cash equivalents                                             $    381               $  2,423
     Accounts receivable, net                                                46,341                 39,376
     Inventories (Note 2)                                                    51,804                 42,110
     Prepaid expenses and other receivables                                   5,491                  3,931
     Income taxes receivable                                                  2,013                  4,043
                                                                           --------               --------
     Total current assets                                                   106,030                 91,883
Property, plant and equipment, net of accumulated depreciation and
     amortization ($13,378 and $12,310, respectively)                        18,621                 21,142
Intangible and other assets, net of accumulated amortization  (Note 3)       81,957                 82,554
                                                                           --------               --------
     Total assets                                                          $206,608               $195,579
                                                                           ========               ========
LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities
     Short-term borrowings (Note 4)                                        $ 41,946               $ 12,282
     Accounts payable and accrued liabilities                                17,841                 23,673
     Income taxes payable                                                     2,497                  3,322
     Long term debt, current portion                                            230                    264
     Other current liabilities                                                  698                    698
                                                                            --------               --------
     Total current liabilities                                               63,212                 40,239
Long-term debt (Note 4)                                                      90,191                 91,252
Deferred income taxes                                                           460                    495
                                                                           --------               --------
     Total liabilities                                                      153,863                131,986
                                                                           --------               --------
Contingencies (Note 8)


13% Pay-In-Kind preferred stock (Note 5)                                     11,452                 11,333

Stockholders' equity
Common stock, par value $0.01 per share, 20,000,000 shares authorized,
     6,500,549 shares issued and outstanding at June 30, 2001 and at
     December 31, 2000                                                           65                     65
Re-organization warrants, 300,000 issued and 299,451 outstanding at June
     30, 2001 and at December 31, 2000                                            -                      -
Common stock purchase warrants, 699,101 issued and outstanding at
     June 30, 2001 and 159,127 outstanding at December 31, 2000               5,115                  1,665
Additional paid-in capital                                                   66,515                 66,515
Deficit                                                                     (21,918)                (9,290)
Foreign currency translation adjustments                                     (8,484)                (6,695)
                                                                           --------               --------
     Total stockholders' equity                                              41,293                 52,260
                                                                           --------               --------
     Total liabilities and stockholders' equity                            $206,608               $195,579
                                                                           ========               ========
</TABLE>

                 The accompanying notes are an integral part of
                the unaudited consolidated financial statements.

                                      - 1 -
<PAGE>

                               THE HOCKEY COMPANY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                        (In thousands, except share data)
<TABLE>
<CAPTION>
                                                               For the Three      For the Six      For the Three     For the Six
                                                               Months ended      Months ended      Months ended      Months ended
                                                               June 30, 2001     June 30, 2001     June 30, 2000    June 30, 2000
                                                               -------------     -------------     -------------    -------------
<S>                                                            <C>               <C>               <C>              <C>
Net sales                                                         $42,252          $ 77,087            $44,614         $79,020
Cost of goods sold before restructuring charges                    24,579            45,452             25,646          46,305
Restructuring charges (Note 6)                                          -               901                  -               -
                                                                  -------          --------            -------         -------
     Gross profit                                                  17,673            30,734             18,968          32,715
Selling, general and administrative expenses before
     restructuring charges                                         13,927            28,848             15,352          30,953
Restructuring charges (Note 6)                                          -             2,005                  -               -
Amortization of excess reorganization value and goodwill            1,100             2,205              1,124           2,262
                                                                  -------          --------            -------         -------
     Operating income (loss)                                        2,646            (2,324)             2,492            (500)
Other (income) expense, net                                           528             1,104                (62)            362
Interest expense                                                    3,722             6,713              3,184           6,148
                                                                  -------          --------            -------         -------
Loss before income taxes and extraordinary item                    (1,604)          (10,141)              (630)         (7,010)
Income taxes (benefit)                                                 92               226                694            (491)
                                                                  -------          --------            -------         -------
Net loss before extraordinary item                                 (1,696)          (10,367)            (1,324)         (6,519)
Extraordinary item
     Loss on early extinguishing of debt (Note 3)                       -             1,091                  -               -
     Net loss                                                      (1,696)         $(11,458)           $(1,324)        $(6,519)
                                                                  -------          --------            -------         -------
Preferred stock dividends                                             525             1,051                456             948
Accretion of 13% Pay-In-Kind preferred stock                           60               119                 58             121
                                                                  -------          --------            -------         -------
Net loss attributable to common shareholders                      $(2,281)         $(12,628)           $(1,838)        $(7,588)
                                                                  =======          ========            =======         =======

Basic loss before extraordinary item per share (See Note 7)       $ (0.32)         $  (1.60)           $ (0.28)        $ (1.14)
Diluted loss before extraordinary item per share (See Note 7)     $ (0.32)         $  (1.60)           $ (0.28)        $ (1.14)

Basic loss per share (See Note 7)                                 $ (0.32)         $  (1.75)           $ (0.28)        $ (1.14)
Diluted loss per share (See Note 7)                               $ (0.32)         $  (1.75)           $ (0.28)        $ (1.14)
</TABLE>

                 The accompanying notes are an integral part of
                the unaudited consolidated financial statements.


                                      - 2 -
<PAGE>


                               THE HOCKEY COMPANY
                  CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
                                   (Unaudited)
                                 (In thousands)

<TABLE>
<CAPTION>
                                                               For the Three      For the Six      For the Three     For the Six
                                                               Months ended      Months ended      Months ended      Months ended
                                                               June 30, 2001     June 30, 2001     June 30, 2000    June 30, 2000
                                                               -------------     -------------     -------------    -------------
<S>                                                            <C>               <C>               <C>              <C>
Net loss                                                          $(1,696)         $(11,458)           $(1,324)        $(6,519)
Foreign currency translation adjustments                             (966)           (1,789)              (112)           (625)
                                                                  -------          --------            -------         -------
Net comprehensive loss                                            $(2,662)         $(13,247)           $(1,436)        $(7,144)
                                                                  =======          ========            =======         =======
</TABLE>



                 The accompanying notes are an integral part of
                the unaudited consolidated financial statements.



                                      - 3 -
<PAGE>

                               THE HOCKEY COMPANY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                            For the Six       For the Six
                                                                            Months ended      Months ended
                                                                           June 30, 2001     June 30, 2000
                                                                           -------------     -------------
<S>                                                                        <C>               <C>
OPERATING ACTIVITIES:
Net loss before extraordinary items                                          $(10,367)         $ (6,519)
Adjustments to reconcile net loss to net cash used in operating
     activities:
       Restructuring charges                                                    2,906                 -
       Depreciation and amortization                                            6,008             5,507
       Provisions for inventory, doubtful accounts and other deductions         3,436             2,418
       Deferred income taxes                                                       43              (640)
       Gain on sales of fixed assets                                               (8)              (17)
       Gain on foreign exchange                                                  (407)             (227)
Change in operating assets and liabilities:
       Accounts receivable                                                    (10,161)          (11,064)
       Inventories                                                            (11,774)          (13,455)
       Prepaid expenses and other assets                                          530             1,371
       Accounts payable and accrued liabilities                                (9,263)           (5,833)
       Income taxes                                                              (999)             (806)
                                                                             --------          --------
           Net cash used in operating activities                              (30,056)          (29,265)
                                                                             --------          --------
INVESTING ACTIVITIES:
       Purchases of fixed assets                                                 (709)           (1,482)
       Proceeds from sales of fixed assets                                        332                29
       Deferred expenses                                                          539            (1,315)
                                                                             --------          --------
           Net cash provided by (used in) investing activities                    162            (2,768)
                                                                             --------          --------
FINANCING ACTIVITIES:
       Net change in short-term borrowings                                     29,969            28,047
       Proceeds from long-term debt                                               191             1,139
       Principal payments on debt                                                (123)                -
       Issuance of warrants                                                     3,450                 -
       Deferred financing costs                                                (5,482)                -
                                                                             --------          --------
           Net cash provided by financing activities                           28,005            29,186
                                                                             --------          --------
Effects of foreign exchange rate changes on cash                                 (153)              (96)
                                                                             --------          --------
Decrease in cash                                                               (2,042)           (2,943)
Cash and cash equivalents at beginning of period                                2,423             3,519
                                                                             --------          --------
Cash and cash equivalents at end of period                                   $    381          $    576
                                                                             ========          ========
</TABLE>

                 The accompanying notes are an integral part of
                the unaudited consolidated financial statements.



                                      - 4 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

1.   DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.   DESCRIPTION OF BUSINESS, CHANGE OF CORPORATE NAME AND PRINCIPLES OF
     CONSOLIDATION

     The Hockey Company ("THC" or the "Company") was incorporated in September
     1991 and reorganized in April 1997.

     On January 31, 1999, the Board of Directors and stockholders of THC adopted
     an amendment to the Company's Certificate of Incorporation to change the
     name of THC from SLM International, Inc. to The Hockey Company.

     The consolidated financial statements include the accounts of THC and its
     wholly-owned subsidiaries. The Company designs, develops, manufactures and
     markets a broad range of sporting goods. The Company manufactures hockey
     and hockey related products, including hockey uniforms, hockey sticks,
     goaltender equipment, protective equipment, hockey, figure and inline
     skates as well as street hockey products. These are marketed under the
     CCM(R), Jofa (R), Koho (R), Heaton (R), Titan(R) and Canadien tm brand
     names, and private label brands and licensed sports apparel under the
     CCM(R) and #1 Apparel TM brand names. THC sells its products world-wide to
     a diverse customer base consisting of mass merchandisers, retailers,
     wholesalers, sporting goods shops and international distributors. THC
     manufactures and distributes most of its products at facilities in North
     America, Finland and Sweden and sources products internationally.

B.   BASIS OF PRESENTATION

     The accompanying unaudited interim consolidated financial statements
     appearing in this quarterly report have been prepared on a basis consistent
     with the annual financial statements of THC and its subsidiaries.

     In the opinion of management, all normal recurring adjustments necessary
     for a fair presentation of the Company's Unaudited Consolidated Balance
     Sheets, Statements of Operations, Statements of Comprehensive Loss and
     Statements of Cash Flows for the 2001 and 2000 periods, have been included.
     These unaudited interim consolidated financial statements do not include
     all of the information and footnotes required by generally accepted
     accounting principles to be included in a full set of financial statements.
     Results for the interim periods are not necessarily a basis from which to
     project results for the full year due to the seasonality of the Company's
     business. These unaudited consolidated financial statements should be read
     in conjunction with the Company's annual report on Form 10-K, filed with
     the Securities and Exchange Commission for the year ended December 31,
     2000. Certain prior period amounts have been reclassified to conform to the
     current period presentation.

C.   ACCOUNTING PRONOUNCEMENTS

     The Company has adopted SFAS 133 as of January 2001, and no significant
     transition adjustment resulted from its adoption.


                                      - 5 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

2.   INVENTORIES

Net inventories consist of:

<TABLE>
<CAPTION>
                                       June 30, 2001       December 31, 2000
                                       -------------       -----------------
<S>                                    <C>                 <C>
     Finished products                    $39,453               $29,745
     Work in process                        3,142                 2,727
     Raw materials and supplies             9,209                 9,638
                                          -------               -------
                                          $51,804               $42,110
                                          =======               =======
</TABLE>


3.   INTANGIBLE AND OTHER ASSETS

Net intangible and other assets consist of:
<TABLE>
<CAPTION>
                                       June 30, 2001       December 31, 2000
                                       -------------       -----------------
<S>                                    <C>                 <C>
     Goodwill                             $44,836               $46,643
     Excess Reorganization intangible      28,982                30,052
     Deferred Financing Costs               4,918                 2,084
     Other                                  3,221                 3,775
                                          -------               -------
                                          $81,957               $82,554
                                          =======               =======
</TABLE>

     Amortization expense for intangible assets was $1,650 and $3,740 for the
three and six months ended June 30, 2001 respectively and $6,569 for the twelve
months ended December 31, 2000. A write-off of $1,091 of deferred financing
costs was recorded as an extraordinary item as a result of the substantive
modifications of the terms of the Company's Credit agreement. - (see Note 4 b).

4.   SHORT-TERM BORROWINGS AND LONG-TERM DEBT

A)   SHORT-TERM BORROWINGS

     i)   Effective November 19, 1998, two of the Company's U.S. subsidiaries,
          Maska U.S., Inc. and SHC Hockey Inc., entered into a credit agreement
          (the "U.S. Credit Agreement") with the lenders referred to therein and
          with General Electric Capital Corporation, as Agent and Lender.
          Simultaneously, two of the Company's Canadian subsidiaries, Sport
          Maska Inc. and Tropsport Acquisitions Inc., entered into a credit
          agreement (the "Canadian Credit Agreement") with the lenders referred
          to therein and General Electric Capital Canada Inc., as Agent and
          Lender. The Credit Agreements are collateralized by eligible accounts
          receivable and inventories of the borrowers and are further
          collateralized by a guarantee of the Company and its other North
          American subsidiaries.

          On March 14, 2001, (i) the Second Amendment to the U.S. Credit
          Agreement was entered into by Maska U.S., as borrower, the Credit
          Parties, the U.S. Lenders and General Electric Capital Corporation, as
          Agent and Lender, and (ii) the Second Amendment to the Canadian Credit
          Agreement was entered into by Sport Maska, as borrower, the Credit
          Parties, the Canadian Lenders and General Electric Capital Canada
          Inc., as Agent and Lender. On terms and subject to the conditions of
          each of the Second Amendments, the Credit Agreements were amended to
          reflect the Amended and Restated Credit Agreement (as hereinafter
          defined). The maximum amount of loans and letters of credit that may
          be outstanding under the two credit agreements is $60,000. Total
          borrowings outstanding under the Credit Agreements at June 30, 2001
          and December 31, 2000 were $36,487 and $12,282, respectively
          (excluding outstanding letters of credit). The Credit Agreements were
          for a period of two years with a possible extension of one year by the
          Company.


                                      - 6 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

          Borrowings under the U.S. Credit Agreement bear interest at rates of
          either U.S. prime rate plus 0.50%-1.25% or LIBOR plus 1.75%-2.75%
          depending on the borrower's Operating Cash Flow Ratio, as defined in
          the agreement. Borrowings under the Canadian Credit Agreement bear
          interest at rates of either the Canadian prime rate plus 0.75%-1.50%
          or LIBOR plus 1.75%-2.75% depending on the borrower's Operating Cash
          Flow Ratio, as defined in the agreement. In addition, the borrowers
          are charged a monthly commitment fee at an annual rate of up to 3/8 of
          1% on the unused portion of the revolving credit facilities under the
          credit agreements and certain other fees.

          The Credit Agreements contain customary negative and affirmative
          covenants including those relating to capital expenditures, total
          indebtedness to EBITDA, minimum interest coverage and fixed charges
          coverage ratio.

     ii)  Effective March 18, 1999, Jofa AB ("Jofa"), a Swedish subsidiary of
          the Company, entered into a credit agreement with MeritaNordbanken in
          Sweden. The maximum amount of loans and letters of credit that may be
          outstanding under the agreement is SEK 65,000 ($5,989). The facility
          is collateralized by the assets of Jofa, excluding intellectual
          property, bears interest at a rate of STIBOR plus 0.65% and is
          renewable annually. Total borrowings at June 30, 2001 and December 31,
          2000 were SEK 54,217 ($4,988) and nil, respectively.

          Effective July 14, 1999, KHF Sports Oy ("KHF"), a Finnish subsidiary
          of the Company, entered into a credit agreement with MeritaNordbanken
          in Finland. The maximum amount of loans and letters of credit that may
          be outstanding under the agreement is FIM 30,000 ($4,275). The
          facility is collateralized by the assets of KHF, bears interest at a
          rate of EURIBOR plus 2.0% and is renewable annually. Total borrowings
          as at June 30, 2001 and December 31, 2000 were nil.


B)   LONG-TERM DEBT

SECURED LOANS

On November 19,1998, in connection with its acquisition of Sports Holdings
Corp., the Company and Sport Maska Inc. entered into a Secured Loan Agreement
with the Caisse de depot et placement du Quebec ("Caisse") to borrow a total of
Canadian $135,800. The loan was for a period of two years, renewable on November
19, 2000 at the Company's option.

On March 14, 2001, an Amended and Restated Credit Agreement was entered into by
the Company and Sport Maska, as borrowers, Caisse, as Agent and Lender, and
Montreal Trust Company, as Paying Agent (the "Amended and Restated Credit
Agreement"). On the terms and subject to the conditions of the Amended and
Restated Credit Agreement, Facility 1 of the Caisse Loan, which is a facility in
the maximum amount of Canadian $90,000, was extended to June 30, 2004, and
Facility 2 of the Caisse Loan, which is a facility in the maximum amount of
Canadian $45,800, was extended to October 31, 2002. A repayment of Facility 1 in
the minimum amount of Canadian $5,000 is due on January 31, 2004. Facility 1 and
Facility 2 have been fully utilized and no new advances are expected to be made
under the Amended and Restated Credit Agreement. Each facility bears interest
equal to the Canadian Banker's Acceptance Rate plus 6%, and Facility 2 bears
additional interest of 3.5% which is to be capitalized and repaid on Facility 2
maturity.

The loan is collateralized by all of the tangible and intangible assets of the
Company subject to the prior ranking claims on accounts receivable and
inventories by the lenders under the Company's revolving credit facilities.

The loan contains customary negative and affirmative covenants including those
relating to capital expenditures, total indebtedness to EBITDA and minimum
interest coverage.

In May 2000, Jofa AB, a subsidiary of the Company, entered into a loan agreement
with MeritaNordBanken Sweden to borrow SEK 10,000 ($1,100). The loan is for four
years with annual principal repayments of SEK 2,500 ($275). The loan is secured
by a chattel mortgage on the assets of the subsidiary and bears an interest rate
of STIBOR plus 1.25%.


                                      - 7 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

5.   COMMON STOCK, WARRANTS AND PREFERRED STOCK

The Company has authorized 20,000,000 shares of common stock, of which
6,500,549 are issued and outstanding.

Pursuant to the Warrant Agreement, dated as of March 14, 2001, between the
Company and Caisse, the Company issued a warrant to Caisse to purchase 539,974
shares of common stock, par value $.01 per share, of the Company, representing
approximately 7.5% of the outstanding common stock, on a fully diluted basis, at
an exercise price of $.01 per share. The number of shares issuable upon exercise
of the warrants is subject to certain adjustments as provided in the Warrant
Agreement. The fair value of the warrants was determined to be $3,450 and has
been recorded in shareholders' equity as stock purchase warrants. In addition,
the Company also issued warrants to Caisse to acquire 993,408 shares of common
stock, par value $.01 per share, which are only exercisable by Caisse if a
minimum EBITDA required is not met and if Facility 2 is not repaid in cash on or
prior to certain dates.

On November 19, 1998, the Company issued 100,000 shares of 13% Pay-In-Kind
redeemable, $0.01 par value per share, cumulative preferred stock together with
warrants to purchase 159,127 common shares of the Company at a purchase price of
$0.01 per share, for cash consideration of $12,500 (par value).

The fair value of the warrants was determined to be $1,665 and has been recorded
in Stockholder's Equity as common stock purchase warrants. The balance of the
proceeds, $10,835, has been recorded as 13% Pay-In-Kind preferred stock. The
difference between the redemption value of the preferred stock and the recorded
amount is being accreted on a straight-line basis over the seven-year period
ending November 19, 2005, by a charge to retained earnings.

Dividends, which are payable semi-annually from November 19, 1998, may be paid
in cash or in shares of the 13% Pay-In-Kind preferred stock, at the Company's
option. The preferred stock is non-voting. If the Company fails to redeem the
preferred stock on or before November 19, 2005 and for a sixty day period or
more after being notified of its failure to redeem the preferred stock, then the
preferred stockholders, as a class of stockholders, have the option to elect one
director to the Company's Board of Directors with the provision that the
preferred stockholders are to elect 28% of the Company's directors. At June 30,
2001 unpaid dividends totalled $4,727.

The preferred stock is redeemable, at any time after November 19, 2000, in whole
or in part, at the option of the Company, at a redemption price (together with
all accumulated and unpaid dividends) as follows:

<TABLE>
<CAPTION>
Year                                 Percentage of par value
<S>                                  <C>
2001                                        104.333%
2002                                        102.166%
2003 and thereafter                         100.000%
</TABLE>

The preferred stock must be redeemed by the Company at the earlier of a change
of control or by November 19, 2005.

6.   RESTRUCTURING CHARGES

Effective January 24, 2001, the Company embarked on a plan to rationalize its
operations. This rationalization involved the elimination of certain
redundancies, both in terms of personnel and operations as well as the
consolidation of facilities including the closure of its Mount Forest, Ontario
plant. Accordingly, the Company has set up a reserve of $2,900.

The Company has estimated that the restructuring charges would total $2,900 as
follows:

An amount of $2,400 has been accrued for severance packages in Canada and the
U.S., including the closure of the Mount Forest, Ontario plant. To date $1,600
has been spent.

An amount of $500 has been accrued to cover the cost of facility consolidations.
To date $400 has been spent.



                                      - 8 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

7.   EARNINGS PER SHARE

Losses per share for the three and six months periods are as follows:

<TABLE>
<CAPTION>
                              For the Three Months      For the Six Months        For the Three Months      For the Six Months
                              ended June 30, 2001       ended June 30, 2001       ended June 30, 2000       ended June 30, 2000
---------------------------------------------------------------------------------------------------------------------------------
                              Basic       Diluted       Basic       Diluted       Basic       Diluted       Basic       Diluted
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
<S>                        <C>          <C>          <C>          <C>           <C>         <C>             <C>       <C>
Net loss before
extraordinary item
attributable to common
stockholders                 $ (2,281)    $ (2,281)   $ (11,537)    $ (11,537)    $(1,838)     $(1,838)    $ (7,588)    $ (7,588)
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
Net loss attributable to
common stockholders
                             $ (2,281)    $ (2,281)   $ (12,628)    $ (12,628)    $(1,838)     $(1,838)    $ (7,588)    $ (7,588)
----------------------------------------------------------------------------------------------------------------------------------
Weighted average common and common equivalent shares outstanding:
----------------------------------------------------------------------------------------------------------------------------------
Common stock                 6,500,549    6,500,549    6,500,549     6,500,549   6,500,549    6,500,549    6,500,549    6,500,549
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
Common equiv. Shares (a)       698,000      698,000      698,000       698,000     158,977      193,741      158,977      193,741
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
Total weighted average
common and common
equivalent shares
outstanding                  7,198,549    7,198,549    7,198,549     7,198,549   6,659,526    6,694,290    6,659,526    6,694,290
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
Net loss before
extraordinary item per
common share (b)              $ (0.32)     $ (0.32)     $ (1.60)      $ (1.60)    $ (0.28)     $ (0.28)     $ (1.14)     $ (1.14)
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
Net loss per common
share (b)                     $ (0.32)     $ (0.32)     $ (1.75)      $ (1.75)    $ (0.28)     $ (0.28)     $ (1.14)     $ (1.14)
-------------------------- ------------ ------------ ------------ ------------- ----------- ------------ ------------ ------------
</TABLE>


     (a)  Common equivalent shares include warrants and stock options. The
          Company used the average book value of its common stock in calculating
          the common equivalent shares as required by Statement of Financial
          Accounting Standards No. 128 due to the fact that the Company's stock
          had extremely limited trading volume during the period.

     (b)  Common equivalent shares include warrants and stock options when
          dilutive. The Company used the average book value of its common stock
          in calculating the common equivalent shares as required by statement
          of Financial Accounting Standards no. 128 due to the fact that
          Company's stock had extremely limited trading volume during the
          period.

8.   CONTINGENCIES AND LITIGATION

A.   ENVIRONMENTAL LITIGATION

     In 1992, T. Copeland & Sons, Inc. (" Copeland "), the owner of a property
     adjacent to Maska's former manufacturing and distribution facility in
     Bradford, Vermont, filed an action in Vermont Superior Court alleging that
     its property had been contaminated as a result of the Company's
     manufacturing activities and seeking compensatory and punitive damages
     under the Vermont Groundwater Protection Law and various common law
     theories. In June 1995, Maska settled this action for $1,000 cash, paid in
     July 1995, and a $6,000 promissory note. Subsequently, Copeland received a
     distribution of shares of THC's Common Stock to satisfy the note. Copeland
     asserted the right to recover from the Company as a secured claim, the
     difference between the aggregate value of the Common Stock and the amount
     of the promissory note. In October 1998, Copeland's claim in the Bankruptcy
     Court to recover this difference was disallowed without an evidentiary
     hearing. Copeland filed an appeal of this decision. On May 1, 2000, the
     District Court overruled the Bankruptcy Court's decision and remanded the
     claim to the Bankruptcy Court for an evidentiary hearing. In February 2001,
     the Company reached an agreement with Copeland and settled this claim for
     $1,000 in cash.


                                      - 9 -
<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

B.   PRODUCT LIABILITY LITIGATION

     The Company is unaware of any personal injury claims for which there is
     inadequate insurance coverage.

C.  OTHER LITIGATION

     On October 16, 1997, ZMD Sports Investments Inc. and 2938201 Canada Inc.,
     landlords of the Company's properties located in St. Jean, Quebec and St.
     Hyacinthe, Quebec, brought motions against the Company which would require
     the Company to undertake certain repairs to the properties for an estimated
     $630. The Company believes these motions to be without merit.

     Other than certain legal proceedings arising from the ordinary course of
     business, which we believe will not have a material adverse effect, either
     individually or collectively, on the financial position, results of
     operations or cash flows, there is no other litigation pending or
     threatened against us.

9.   SEGMENT INFORMATION

REPORTABLE SEGMENTS

The Company has two reportable segments: Equipment and Apparel. The Equipment
segment derives its revenue from the sale of skates, including ice hockey,
roller hockey and figure skates, as well as protective hockey equipment and
sticks for both players and goaltenders. The Apparel segment derives its revenue
from the sale of hockey apparel, such as authentic and replica hockey jerseys,
as well as a high quality line of baseball style caps, jackets and other casual
apparel using its own designs and graphics.

MEASUREMENT OF SEGMENT PROFIT OR LOSS AND SEGMENT ASSETS

Segment assets only include inventory.

INFORMATION ABOUT SEGMENT PROFIT OR LOSS AND SEGMENT ASSETS

<TABLE>
<CAPTION>
2001                                         Equipment                       Apparel                     Segment Total
                                    ----------------------------- ------------------------------ ------------------------------
                                    For the Three    For the Six   For the Three    For the Six   For the Three     For the Six
                                    Months ended    Months ended    Months ended   Months ended   Months ended      Months ended
                                       June 30        June 30        June 30         June 30         June 30           June 30
                                    -------------   ------------   -------------   ------------   -------------     ------------
<S>                                 <C>             <C>            <C>             <C>            <C>                <C>
Net sales to external customers        $34,372        $55,691         $ 7,880         $21,396        $42,252           $77,087
Gross profit                            14,348         22,243           3,325           8,491         17,673            30,734
Depreciation of property, plant
and equipment                              608          1,351              96             251            704             1,602
Inventories                             33,984         33,984          17,820          17,820         51,804            51,804
</TABLE>


                                     - 10 -

<PAGE>


                               THE HOCKEY COMPANY
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (In thousands, except share data)

<TABLE>
<CAPTION>
2000                                         Equipment                       Apparel                     Segment Total
                                    ----------------------------- ------------------------------ ------------------------------
                                    For the Three    For the Six   For the Three    For the Six   For the Three     For the Six
                                    Months ended    Months ended    Months ended   Months ended   Months ended      Months ended
                                       June 30        June 30        June 30         June 30         June 30           June 30
                                    -------------   ------------   -------------   ------------   -------------     ------------
<S>                                 <C>             <C>            <C>             <C>            <C>                <C>
Net sales to external customers        $37,351        $62,004          $7,263        $17,016        $44,614           $79,020
Gross profit                            16,477         26,294           2,491          6,421         18,968            32,715
Depreciation of property, plant
and equipment                              688          1,397             136            275            824             1,672
Inventories                             43,520         43,520          17,492         17,492         61,012            61,012
</TABLE>


RECONCILIATION OF SEGMENT PROFIT OR LOSS


<TABLE>
<CAPTION>
                                                                   For the Three     For the Six    For the Three     For the Six
                                                                   Months ended     Months ended     Months ended    Months ended
                                                                   June 30, 2001    June 30, 2001   June 30, 2000    June 30, 2000
                                                                   -------------    -------------   -------------    -------------
<S>                                                                <C>              <C>             <C>              <C>
Segment Gross Profit                                                  $17,673         $ 30,734         $18,968          $32,715

Unallocated amounts:
        Selling general and administrative expenses                    13,927           28,848          15,352          30,953
        Restructuring charges                                               -            2,005               -               -
        Amortization of excess reorganizational value
           and goodwill                                                 1,100            2,205           1,124           2,262
        Other (income) expense, net                                       528            1,104             (62)             362
        Interest expense                                                3,722            6,713           3,184           6,148
                                                                      -------         --------         -------          ------
Loss before income taxes and extraordinary item                        (1,604)         (10,141)           (630)         (7,010)
                                                                      -------         --------         -------          ------
</TABLE>


                                     - 11 -
<PAGE>

                               THE HOCKEY COMPANY
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

ITEM 2.

INTRODUCTION

     The Hockey Company ("THC" or the "Company") was incorporated in September
1991 and reorganized in April 1997.

     On January 31, 1999, the Board of Directors and stockholders of The Hockey
Company adopted an amendment to THC's Certificate of Incorporation to change the
name of THC from SLM International, Inc. to The Hockey Company. The amendment
was filed with the Secretary of State of the State of Delaware on February 9,
1999.

     The operations of The Hockey Company and its subsidiaries include the
design, development, manufacturing and marketing of hockey and hockey related
products, including hockey uniforms, hockey sticks, protective equipment,
hockey, figure and inline skates and street hockey products, marketed under the
CCM(R), Jofa (R), Koho (R), Heaton (R), Titan(R) and Canadien TM brand names,
and private label brands and licensed hockey apparel under the CCM(R), and #1
Apparel TM names. The Company sells its products worldwide to a diverse customer
base consisting of mass merchandisers, sporting goods chains, independent
retailers and international distributors. The Company manufactures and
distributes most of its products at facilities in North America, Finland and
Sweden and sources products internationally.

     The Company's business is seasonal. The seasonality of the Company's
business affects net sales and borrowings under the Company's credit agreements.
Traditional quarterly fluctuations in the Company's business may vary in the
future depending upon, among other things, changes in order cycles and product
mix.

SELECTED FINANCIAL DATA

     The following discussion provides an assessment of the Company's results of
continuing operations, financial condition and liquidity and capital resources,
and should be read in conjunction with the Unaudited Consolidated Financial
Statements of the Company and Notes thereto included elsewhere herein. (All
references to "Note(s)" refer to the Notes to Unaudited Consolidated Financial
Statements.)

     EBITDA is a measure of the cash generated from operations and has been
included in the selected income statement highlights because management believes
that it would be a useful indicator for readers. EBITDA is defined as the
earnings (net income) before interest, income and capital taxes, depreciation
and amortization, and unusual items. EBITDA is not a measure of performance or
financial condition under generally accepted accounting principles, but is
presented because it is a widely accepted indicator of a company's ability to
source and incur debt. EBITDA should not be considered as an alternative to net
income as an indicator of the company's operating performance or as an
alternative to cash flows as a measure of liquidity.

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED JUNE 30, 2001

2001 COMPARED TO 2000

     Apparel net sales increased 25.7% to $21.4 million in the six months ended
June 30, 2001, as compared to $17.0 million in the six months ended June 30,
2000. For the three months ended June 30, 2001, apparel net sales were $7.9
million, representing an 8.5% increase compared to net sales in the three months
ended June 30, 2000 of $7.3 million. The increase was attributable primarily to
stronger demand resulting from the Company's exclusive status under its license
agreement with NHL Enterprises, LP, the marketing affiliate of the NHL.

     Equipment net sales decreased 10.2% to $55.7 million in the six months
ended June 30, 2001, as compared to $62.0 million in the six months ended June
30, 2000. For the three months ended June 30, 2001, equipment net sales were
$34.4 million, representing an 8.0% decrease compared to net sales in the three
months ended June 30, 2000 of $37.4 million. The decrease was attributable
primarily to much weaker sales of ice skates, protective equipment and sticks.


                                     - 12 -
<PAGE>


                               THE HOCKEY COMPANY
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

     Gross profit on apparel sales before restructuring charges for the six
months ended June 30, 2001 was $9.4 million compared to $6.4 million in 2000, an
increase of 46.3%. Gross profit on apparel sales for the three months ended June
30, 2001 was $3.3 million compared to $2.5 million in 2000, an increase of
33.5%. Measured as a percentage of apparel net sales, gross profit margins
before restructuring charges increased to 43.9% in the first half of 2001 from
37.7% in the same period in 2000.

     Gross profit on equipment sales for the six months ended June 30, 2001 was
$22.2 million compared to $26.3 million in 2000, a decrease of 15.4%. Gross
profit on equipment sales for the three months ended June 30, 2001 was $14.3
million compared to $16.5 million in 2000, a decrease of 12.9%. Measured as a
percentage of equipment net sales, gross profit margins decreased to 39.9% in
the first half of 2001 from 42.4% in the same period in 2000.

     For the six months ended June 30, 2001, selling, general and administrative
expenses before restructuring charges decreased 6.8% to $28.8 million compared
to $31.0 million in the first half of 2000. In the three months ended June 30,
2001, these expenses decreased 9.3% to $13.9 million from $15.4 million in 2000.
Measured as a percentage of net sales, in the first six months of the year the
ratio also decreased to 37.4% in 2001 from 39.2% in 2000. The decrease in the
selling, general and administrative expenses is a result of first quarter
restructuring activities (see Restructuring reserves), offset by increased NHL
commitments.

        The amortization of excess  reorganization  value and goodwill decreased
slightly  from $2.3  million  in the first  half of 2000 to $2.2  million in the
first half of 2001. The operating  income before  restructuring  charges for the
six months period ended June 30, 2001 was $0.6 million, compared to an operating
loss of $0.5 million for the six months period ending June 30, 2000.

     Other expense consists primarily of amortization of deferred financing
costs.

     Earnings before interest, taxes, depreciation and amortization (EBITDA),
which is a measure of cash generated from operations, was $5.8 million for the
six months ($5.4 million for the three months) ended June 30, 2001 compared to
$4.9 million for the six months ($5.3 million for the three months) ended June
30, 2000.

     Interest expense of $6.7 million for the six months ended June 30, 2001
increased by $0.6 million from the same period for the prior year ($6.1
million). The increase is mainly attributable to extension fees on short-term
borrowings, the Company incurred in the first quarter of the year. For the three
months ended June 30, 2001 interest expense increased to $3.7 million compared
to $3.2 million for the same period of the prior year.

     As a result of a business restructuring at the beginning of the year, the
Company incurred costs related to severance and facility closures (restructuring
charges). - see Restructuring reserves.

     The Company's net loss for the six months ended June 30, 2001 was $11.5
million compared to $6.5 million for the six months ended June 30, 2000. For the
three months ended June 30, 2001, the Company had a net loss of $1.7 million
compared to $1.3 for the three months ended June 30, 2000.

LIQUIDITY AND CAPITAL RESOURCES

     Management expects to finance the Company's working capital and capital
expenditures requirements through cash generated by its operations and through
its new credit facilities established on November 19, 1998 and amended and
restated on March 14, 2001.

     Effective November 19, 1998, two of the Company's subsidiaries, Maska U.S,
Inc. and SHC Hockey Inc. entered into a credit agreement (the "U.S. Credit
Agreement") with the lenders referred to therein and with General Electric
Capital Corporation, as Agent and Lender. Simultaneously, two of the Company's
Canadian subsidiaries, Sport Maska Inc. and Tropsport Acquisitions Inc., entered
into a credit agreement (the " Canadian Credit Agreement") with the lenders
referred to therein and General Electric Capital Canada Inc. as Agent and
Lender. The maximum amount of loans and letters of credit that may be
outstanding under the two credit agreements (collectively, the "Credit
Agreements") is $60.0 million.


                                     - 13 -
<PAGE>


                               THE HOCKEY COMPANY
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

     The Credit Agreements were for a period of two years with a possible
extension of one year by the Company, and were amended and restated on March 14,
2001. Total borrowings outstanding under the Credit Agreements were $36.5
million on June 30, 2001 (excluding $6.4 million of letters of credit
outstanding). Total borrowings as at December 31, 2000 under the Credit
Agreements were $12.3 million (excluding $0.9 million of letters of credit
outstanding).

     In addition, on March 14, 2001, an Amended and Restated Credit Agreement
was entered into by the Company and Sport Maska, as borrowers, Caisse de depot
et placement du Quebec ("Caisse"), as Agent and Lender, and Montreal Trust
Company, as Paying Agent (the "Amended and Restated Credit Agreement "). On the
terms and subject to the conditions of the Amended and Restated Credit
Agreement, Facility 1 of the Caisse Loan, which is a facility in the maximum
amount of Canadian $90 million, was extended to June 30, 2004, and Facility 2 of
the Caisse Loan, which is a facility in the maximum amount of Canadian $45.8
million, was extended to October 31, 2002. A repayment of Facility 1 in the
minimum amount of Canadian $5 million is due on January 31, 2004. Facility 1 and
Facility 2 have been fully utilized and no new advances are expected to be made
under the Amended and Restated Credit Agreement.

     The Company's financing requirements for long-term growth, future capital
expenditures and debt service are expected to be met through its operations as
well as cash borrowed under its Credit Agreements. During the six months ended
June 30, 2001, the Company's operations used $30.1 million of cash from its
operations as compared to $29.3 million of cash used in the same six months of
2000.

     Cash used in investing activities during the six months ended June 30, 2001
and the six months ended June 30, 2000 included $0.7 million and $1.5 million,
respectively, of purchases of fixed assets.

     During the six months period ended June 30, 2001, financing activities
provided $30.0 million from borrowings under the Company's New Credit Agreements
and provided $28.0 million for the same period last year.

     The Company follows the customary practice in the sporting goods industry
of offering extended payment terms to credit-worthy customers on qualified
orders. The Company's working capital requirements generally peak in the third
and fourth quarters as it builds inventory and makes shipments under these
extended payment terms.

EURO CONVERSION

On January 1, 1999, eleven of the fifteen member countries of the European Union
established fixed conversion rates between their existing sovereign currencies
and the Euro. The participating countries agreed to adopt the Euro as their
common legal currency on that date. Fixed conversion rates between these
participating countries' existing currencies (the legacy currencies) and the
Euro were established as of that date. The legacy currencies are scheduled to
remain legal tender as denominations of the Euro until at least January 1, 2002
(but not later than July 1, 2002.) During this transition period, parties may
settle transactions using either the Euro or a participating country's legacy
currency.

Management currently believes that the introduction of the Euro will not have a
material impact related to pricing or foreign currency exposures. Finland is one
of the countries adopting the Euro, however Sweden has not yet chosen to adopt
the new currency. The Finnish subsidiaries' base currency is now the Euro,
Sweden has yet to decide on adopting the new currency. The Company foresees no
adverse impact resulting from the Euro conversion, including competitive
implications related to pricing and foreign currency considerations. However,
uncertainty exists as to the effects the Euro will have on the marketplace.


                                     - 14 -
<PAGE>


                               THE HOCKEY COMPANY
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

RESTRUCTURING RESERVES

Effective January 24, 2001, the Company embarked on a plan to rationalize its
operations. This rationalization involved the elimination of certain
redundancies, both in terms of personnel and operations as well as the
consolidation of facilities including the closure of its Mount Forest, Ontario
plant. Accordingly, the Company has set up a reserve of 2.9 million.

The Company has estimated that the restructuring charges would total $2.9
million as follows:

An amount of $2.4 million has been accrued for severance packages in Canada and
the U.S., including the closure of the Mount Forest, Ontario plant. To date $1.6
million has been spent.

An amount of $0.5 million has been accrued to cover the cost of facility
consolidations. To date $0.4 million has been spent.


                                     - 15 -
<PAGE>


                               THE HOCKEY COMPANY
                                     PART II
                                OTHER INFORMATION

Item 1.   Legal Proceedings

Reference is made to Note 7 of the Notes to Unaudited Consolidated Financial
          Statements included in Part I of this report.


Item 2.   Changes in Securities.
          None.

Item 3.   Defaults Upon Senior Securities.
          Not applicable.

Item 4.   Submission of Matters to a Vote of Security Holders.
          None.

Item 5.   Other Information
          None.

Item 6.   Exhibits and Reports on Form 8-K.

          (a)  Exhibits:

               27.1  Financial Data Schedule.

          (b)  Reports on Form 8-K:

               Reports  dated May 9 and May 24,  2001 were  filed on Form
               8-K during the three months ended June 30, 2001.


                                     - 16 -
<PAGE>


                               THE HOCKEY COMPANY

                                   SIGNATURES

     Pursuant to 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.

                               THE HOCKEY COMPANY
                                  (Registrant)

                      By:       /s/ Robert A. Desrosiers
                          ----------------------------------------------------
                          Name:     Robert A. Desrosiers
                          Title:    Vice President, Finance and Administration
                                    (Principal Financial and Accounting Officer)

Date: July 20, 2001