K2 Moving Its HQ to Carlsbad

CARLSBAD - Sporting goods maker K2 Inc. is moving its headquarters from Los Angeles to Carlsbad.

The company has leased 19,000 square feet for its home base at 2051 Palomar Airport Road.

K2 makes a variety of products for individual sports, including alpine skiing, snowboarding, in-line

In December the company signed an agreement to merge with Rawlings Sporting Goods Co. Inc., a maker of baseball gloves and other team sports equipment.

K2's five-year lease in the Palomar Centre is worth $1.88 million.

The company already has a presence in North County, with 15,000 square feet in Carlsbad and 51,000 square feet in Vista. The company uses the buildings for research-and-development and warehouse space for its Planet Earth skate wear and Adio and Hawk shoe divisions.

K2 trades on the New York Stock Exchange under the symbol KTO. Its stock closed Jan. 22 at $9.79 per share. Its 52-week range has been $6.20 to $11.24.

The company reported net income of $3.9 million on revenue of $149.8 million in the quarter ended Sept. 30.

In addition to Planet Earth, Adio and Hawk, K2 subsidiaries include 5150 Snowboards, Dana Design, Hilton Corporate Casuals, Liquid Snowboards, Morrow Snowboards, Olin Skis, Ride Snowboards, Shakespeare Composites Electronics, Shakespeare Fishing Tackle, Shakespeare Monofilaments, and Steams Inc.