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Rawlings seeks solution
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May 28, 1999: 11:54 a.m. ET
Sporting goods firm hires BancBoston to explore 'strategic alternatives'
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NEW YORK (CNNfn) - Sports-equipment firm Rawlings Sporting Goods Inc. said Friday it has hired investment bank BancBoston Robertson Stephens to help the company explore "strategic financial alternatives" as part of a long-term plan to turn around its business.
"The on-going softness of our baseball business and the failure of forecast retailer orders to materialize as planned continues to frustrate us as we develop our turnaround plan," said Rawlings (RAWL) Chairman and CEO Stephen O' Hara.
"We estimate sales for the year will be flat versus fiscal year 1998, yielding results well below year ago as the softball aluminum bat recall and operational investments spent in anticipation of sales increases depress earnings."
The St. Louis-based company previously announced its intention to implement a three-year operating plan by July, for which it expects to incur a one-time restructuring charge in the fourth quarter.
Shares of Rawlings were down 3/32 at 9-27/32 in morning trade. 
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Rawlings
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