October 21, 2003 |
Sporting goods maker K2 Inc. said Monday that it bought closely held WinterQuest for an undisclosed amount of cash, K2 common stock and debt. The transaction was the Carlsbad, Calif.-based company's fifth acquisition this year. WinterQuest, which produces snowshoes under the Tubbs and Atlas brands, had sales of $18.6 million in the fiscal year ended March 31, K2 said. K2 has bought several sporting-goods companies this year as part of its plan to expand and diversify its product lines.
August 1, 2003 |
Sporting goods manufacturer K2 Inc. said Thursday that it intends to buy privately held ball and bat maker Worth Inc., a deal that would make the Carlsbad, Calif.-based company one of the top U.S. producers of baseball and softball equipment. In March, K2 added Rawlings Sporting Goods to its roster of brands, which include Shakespeare fishing rods, Olin skis, Ride snowboards and Stearns water sports gear. On the New York Stock Exchange, K2 shares rose 61 cents to $16.50, a 52-week high.
June 3, 2003 |
When Carlsbad-based K2 Inc. bought Rawlings Sporting Goods Co. in March, along with the famous line of baseball equipment came something that K2 would rather not talk about: a company-paid analyst to write about Rawlings' stock. Despite an internationally known brand name and 116 years in business, Rawlings had become what some call a Wall Street orphan, ignored by analysts at the big securities firms. So last year it signed a one-year $25,000 contract with private research firm J.M.
April 24, 2003 |
K2 Inc., which makes skis, snowboards, inline skates and Rawlings baseball equipment, said first-quarter profit fell to $138,000, or 1 cent a share, from $3.8 million, or $2.01, a year earlier. The results included a charge of $4.4 million, or 24 cents a share, tied to the early repayment of debt. Sales grew 6.5% to $157.1 million. The Carlsbad-based sporting goods maker said operating profit in the January-March period rose 3.5%, to $8.8 million. K2 shares rose 8 cents to $8.77 on the NYSE.
March 25, 2003 |
Major League Baseball and K2 Inc. have reached a licensing agreement that paves the way for the Los Angeles ski and fishing gear company to acquire the century-old Rawlings Sporting Goods Co. this week. Rawlings has the exclusive right to manufacture and market the baseballs used in the top professional league. The contract came up for review when K2 agreed in December to buy the Fenton, Mo.-based baseball equipment company.
March 14, 2003 |
A contract dispute between Major League Baseball and K2 Inc. might be a strike against K2's pending acquisition of the century-old Rawlings Sporting Goods Co. In a Securities and Exchange Commission filing made public Thursday, K2 said it would not complete the acquisition of Rawlings unless it is able to assume the baseball maker's contracts with "key commercial partners." In the filing, K2 Chief Executive Richard Heckmann did not name the partners.
February 21, 2003 |
A dissident shareholder of Rawlings Sporting Goods Co. has cleared the basepaths for K2 Inc.'s takeover of the venerable baseball equipment maker. Daniel Gilbert, who owns about 15% of Rawlings, said Thursday that he would support the proposed merger with K2, the Los Angeles-based maker of Olin skis, Shakespeare fishing gear and other sporting goods. Gilbert had objected to the $84-million all-stock transaction when it was announced in December, and made a $69-million cash offer for Fenton, Mo.
February 19, 2003 |
Sporting goods manufacturer K2 Inc. scored a profit in the fourth quarter, rebounding from a loss a year earlier and dramatically slashing its debt load. The Los Angeles maker of K2 skis, Morrow snowboards and Shakespeare fishing gear said Tuesday that it earned $521,000, or 3 cents a share, in the quarter ended Dec. 31. That reverses a loss of $2.5 million, or 14 cents a share, posted in the same period a year earlier. The company is in the process of acquiring the Rawlings Sporting Goods Co.
December 22, 2002 |
Richard Heckmann has no problem leaving others behind. Once on an East Coast business trip, the then-chairman of USFilter wanted to hurry back to California to make his son's baseball game. When the water company's executives gathered at the airport for the flight home, one manager was missing. Heckmann ordered the private aircraft to take off without him.
December 17, 2002 |
An angry shareholder is already calling "foul" over Los Angeles-based K2 Inc.'s announcement Monday that it will buy baseball equipment manufacturer Rawlings Sporting Goods Inc. for $84 million in stock. The deal, which also includes the assumption of about $40 million in Rawlings debt, would be the first for K2's new chief executive, Richard Heckmann. He has an aggressive plan to turn the ski and snowboard maker into a major sporting goods company by acquiring other name brands.