I haven't done any research on this for you but I will point you in the direction to find out if they have been profitable lately or not.
K2, along with SEVERAL other brands including Volkyl, Marker, Full Tilt as you said, Ride snowboards, etc are owned by the parent company Jarden Corporation.
I did a report on them a few years back for an accounting class, they were and have been a profitable company as a whole for several years. You would need take a look at their financial reports which would specify how their brands are performing. Lots of numbers to look through so I won't but as a whole, Jarden corp's stock value has been steadily growing for the past 5 years, despite a quick dip at the end of 2015.
My opinion is that Jarden wouldn't let such a legacy brand like K2 fail, but I am not an economist, accountant or otherwise.