Summer Infant (SUMR) 10-K 20 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Feb. 19, 2018	Jun. 30, 2017
Document and Entity Information
Entity Registrant Name	Summer Infant, Inc.
Entity Central Index Key	1,314,772
Document Type	10-K
Document Period End Date	Dec. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 15.4
Entity Common Stock, Shares Outstanding		18,629,737
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 681	$ 999
Trade receivables, net of allowance for doubtful accounts of $1,622 and $64 at December 30, 2017 and December 31, 2016, respectively	36,640	34,137
Inventory, net	34,035	36,140
Prepaid and other current assets	950	1,737
TOTAL CURRENT ASSETS	72,306	73,013
Property and equipment, net	9,640	9,965
Intangible assets, net	14,046	14,813
Deferred tax assets, noncurrent	1,935	3,848
Other assets	103	98
TOTAL ASSETS	98,030	101,737
CURRENT LIABILITIES
Accounts payable	24,642	30,684
Accrued expenses	9,818	7,757
Current portion of long-term debt	3,250	4,500
TOTAL CURRENT LIABILITIES	37,710	42,941
Long-term debt, less current portion and unamortized debt issuance costs	43,772	41,206
Other liabilities	2,906	2,770
TOTAL LIABILITIES	84,388	86,917
STOCKHOLDERS' EQUITY
Preferred Stock, $0.0001 par value, 1,000,000 authorized, none issued or outstanding at December 30, 2017 and December 31, 2016
Common Stock $0.0001 par value, authorized, issued and outstanding of 49,000,000, 18,901,386, and 18,629,737 at December 30, 2017 and 49,000,000, 18,778,266, and 18,506,617 at December 31, 2016, respectively	2	2
Treasury Stock at cost (271,649 shares at December 30, 2017 and December 31, 2016)	(1,283)	(1,283)
Additional paid-in capital	76,848	76,348
Accumulated deficit	(59,634)	(57,385)
Accumulated other comprehensive loss	(2,291)	(2,862)
TOTAL STOCKHOLDERS' EQUITY	13,642	14,820
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 98,030	$ 101,737

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Trade receivables, allowance for doubtful accounts (in dollars)	$ 1,622	$ 64
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, authorized	1,000,000	1,000,000
Preferred Stock, issued	0	0
Preferred Stock, outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, authorized	49,000,000	49,000,000
Common Stock, issued	18,901,386	18,778,266
Common Stock, outstanding	18,629,737	18,506,617
Treasury Stock at cost, shares	271,649	271,649

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Consolidated Statements of Operations
Net sales	$ 189,869	$ 194,328
Cost of goods sold	129,674	132,577
Gross profit	60,195	61,751
General and administrative expenses	38,878	41,292
Selling expense	14,229	15,269
Depreciation and amortization	4,197	5,011
Impairment of intangible assets	0	2,993
Operating income (loss)	2,891	(2,814)
Interest expense, net	2,968	2,682
Loss before provision for income taxes	(77)	(5,496)
Provision (benefit) for income taxes	2,172	(1,174)
NET LOSS	$ (2,249)	$ (4,322)
Net loss per share BASIC and DILUTED	$ (0.12)	$ (0.23)
Weighted average shares outstanding BASIC and DILUTED	18,573,398	18,440,436

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Consolidated Statements of Comprehensive Loss
Net loss for the year	$ (2,249)	$ (4,322)
Other comprehensive loss:
Foreign currency translation adjustments	571	(360)
Comprehensive loss	$ (1,678)	$ (4,682)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (2,249)	$ (4,322)
Adjustments to reconcile net loss to net cash provided by operating activities:
Impairment of intangible assets	0	2,993
Bad debt expense (recovery)	1,558	(16)
Depreciation and amortization	4,197	5,011
Stock-based compensation	494	482
Loss on asset disposal		37
Deferred income taxes	1,911	(1,384)
Changes in assets and liabilities, net of effects of acquisitions
(Increase) decrease in accounts receivable	(3,859)	6,167
Decrease in inventory	2,353	344
Decrease (increase) in prepaids and other current assets	790	(44)
(Increase) decrease in other assets	19	164
Decrease in accounts payable and accrued expenses	(4,003)	(644)
Net cash provided by operating activities	1,211	8,788
Cash flows from investing activities:
Acquisitions of property and equipment	(3,103)	(2,266)
Net cash used in investing activities	(3,103)	(2,266)
Cash flows from financing activities:
Repayment of Term Loan Facility	(2,000)	(1,500)
Repayment of FILO Facility	(2,500)	(1,250)
Net borrowings (repayments) on revolving facilities	5,815	(3,798)
Issuance of common stock upon exercise of stock options	6
Net cash provided by (used in) financing activities	1,321	(6,548)
Effect of exchange rate changes on cash and cash equivalents	253	102
Net (decrease) increase in cash and cash equivalents	(318)	76
Cash and cash equivalents at beginning of year	999	923
Cash and cash equivalents at end of year	681	999
Supplemental disclosure of cash flow information:
Cash paid during the year for interest	2,274	1,963
Cash paid during the year for income taxes	$ 358	$ 100

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid in Capital	Treasury Stock	Retained Earnings	Accumulated Comprehensive Loss	Total
Balance at Jan. 02, 2016	$ 2	$ 75,812	$ (1,283)	$ (53,063)	$ (2,502)	$ 18,966
Balance (in shares) at Jan. 02, 2016	18,367,758
Increase (Decrease) in Shareholders' Equity
Issuance of common stock upon vesting of restricted shares		80				80
Issuance of common stock upon vesting of restricted shares (in shares)	138,859
Stock-based compensation		456				456
Net loss for the year				(4,322)		(4,322)
Foreign currency translation adjustment					(360)	(360)
Balance at Dec. 31, 2016	$ 2	76,348	(1,283)	(57,385)	(2,862)	14,820
Balance (in shares) at Dec. 31, 2016	18,506,617
Increase (Decrease) in Shareholders' Equity
Issuance of common stock upon vesting of restricted shares (in shares)	118,620
Issuance of common stock upon exercise of stock options		6				6
Issuance of common stock upon exercise of stock options (in shares)	4,500
Stock-based compensation		494				494
Net loss for the year				(2,249)		(2,249)
Foreign currency translation adjustment					571	571
Balance at Dec. 30, 2017	$ 2	$ 76,848	$ (1,283)	$ (59,634)	$ (2,291)	$ 13,642
Balance (in shares) at Dec. 30, 2017	18,629,737

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Company designs, markets and distributes branded juvenile health, safety and wellness products that are sold globally to large national retailers as well as independent retailers, primarily in North America. The Company currently markets its products in several product categories including monitoring, safety, nursery, baby gear, and feeding products. Most products are sold under our core brand names of Summer®, SwaddleMe®, and Born Free®. Basis of Presentation and Principles of Consolidation It is the Company's policy to prepare its financial statements on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. The consolidated financial statements include the accounts of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidation. All dollar amounts included in the Notes to Consolidated Financial Statements are in thousands of U.S. dollars except share and per share amounts. Fiscal Year The Company's fiscal year ends on the Saturday closest to December 31 of each calendar year. There were fifty two weeks in the fiscal years ended December 30, 2017 and December 31, 2016. Summary of Significant Accounting Policies Revenue Recognition The Company records revenue when all of the following occur: persuasive evidence of an arrangement exists, product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Sales are recorded net of provisions for returns and allowances, customer discounts, and other sales related discounts. The Company bases its estimates for discounts, returns and allowances on negotiated customer terms and historical experience. Customers do not have the right to return products unless the products are defective. The Company records a reduction of sales for estimated future defective product deductions based on contractual terms and historical experience. Sales incentives or other consideration given by the Company to customers that are considered adjustments of the selling price of products, such as markdowns, are reflected as reductions of revenue. Sales incentives and other consideration that represent costs incurred by the Company for assets or services received, such as the appearance of the Company's products in a customer's national circular ad, are reflected as selling and marketing expenses in the accompanying statements of operations. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates are based on management's best knowledge of current events and actions the Company may undertake in the future. Accordingly, actual results could differ from those estimates. Cash and Cash Equivalents Cash flows, cash and cash equivalents include money market accounts and investments with an original maturity of three months or less. At times, the Company possesses cash balances in excess of federally-insured limits. Trade Receivables Trade receivables are carried at their outstanding unpaid principal balances reduced by an allowance for doubtful accounts. The Company estimates doubtful accounts based on historical bad debts, factors related to specific customers' ability to pay and current economic trends. The Company writes off accounts receivable against the allowance when a balance is determined to be uncollectible. Amounts are considered to be uncollectable based upon historical experience and management's evaluation of outstanding accounts receivable. Changes in the allowance for doubtful accounts are as follows: For the December 30, December 31, Allowance for doubtful accounts, beginning of period $ $ Charges to costs and expenses Account write-offs and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Allowance for doubtful accounts, end of period $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Inventory Valuation Inventory is comprised mostly of finished goods and some component parts and is stated at the lower of cost using the first-in, first-out (FIFO) method, or net realizable value. The Company regularly reviews slow-moving and excess inventories, and writes down inventories to net realizable value if the ultimate expected net proceeds from the disposals of excess inventory are less than the carrying cost of the merchandise. Property and Equipment Property and equipment are recorded at cost. The Company owns the tools and molds used in the production of its products by third party manufacturers. Capitalized mold costs include costs incurred for the pre-production design and development of the molds. Depreciation is provided over the estimated useful lives of the respective assets using either straight-line or accelerated methods. Long-Lived Assets with Finite Lives The Company reviews long-lived assets with finite lives for impairment on an asset group level whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered to be impaired when its carrying amount exceeds both the sum of the undiscounted future net cash flows expected to result from the use of the asset and its eventual disposition and the assets' fair value. Long-lived assets include property and equipment and finite-lived intangible assets. The amount of impairment loss, if any, is charged by the Company to current operations. Indefinite-Lived Intangible Assets The Company accounts for intangible assets in accordance with accounting guidance that requires that intangible assets with indefinite useful lives be tested annually for impairment and more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company's annual impairment testing is conducted in the fourth quarter of every year. The Company tests indefinite-lived intangible assets for impairment by comparing the asset's fair value to its carrying amount. If the fair value is less than the carrying amount, the excess of the carrying amount over fair value is recognized as an impairment charge and the adjusted carrying amount becomes the assets' new cost basis. Management also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, it is amortized prospectively over its estimated remaining useful life. For the year ended December 31, 2016, the Company determined that certain indefinite-lived intangible assets were impaired. See Note 3 for a discussion on the fiscal year 2016 impairment charge. No impairment charge was recorded for fiscal 2017. Fair Value Measurements The Company follows ASC 820, "Fair Value Measurements and Disclosures" which includes a framework for measuring fair value and expanded related disclosures. Broadly, the framework requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The standard established a three-level valuation hierarchy based upon observable and non-observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1—Quoted prices for identical instruments in active markets. Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3—Significant inputs to the valuation model are unobservable. The Company maintains policies and procedures to value instruments using the best and most relevant data available. In addition, the Company utilizes third party specialists that review valuation, including independent price validation. The Company's financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable, accrued expenses, and short and long-term borrowings. Because of their short maturity, the carrying amounts of cash and cash equivalents, accounts and notes receivable, accounts payable, accrued expenses and short-term borrowings approximate fair value. The carrying value of long-term borrowings approximates fair value since the stated rate is similar to rates currently available to the Company for debt with similar terms and remaining maturities. The Company's assets measured at fair value on a nonrecurring basis include long-lived assets and finite-lived intangibles. The Company tests its indefinite-lived assets for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable or that the carrying value may exceed its fair value. The resulting fair value measurements are considered to be Level 3 inputs. During the fourth quarter of fiscal 2016, the Company determined that the estimated fair value of an indefinite lived asset was lower than its carrying value and the Company recorded a non-cash impairment charge of $2,993 which reduced the value of the intangible asset to approximately $915, as more fully described in "Note 3 to the Consolidated Financial Statements—Intangible Assets." Income taxes Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, it is more likely than not that such benefits will be realized. The Company follows the applicable guidance relative to uncertain tax positions. This standard provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Uncertain tax positions must meet a recognition threshold of more-likely-than-not in order for those tax positions to be recognized in the financial statements. Translation of Foreign Currencies The assets and liabilities of the Company's European, Canadian, Israeli, and Asian operations have been translated into U.S. dollars at year-end exchange rates and the income and expense accounts of these subsidiaries have been translated at average rates prevailing during each respective year. Resulting translation adjustments are made to a separate component of stockholders' equity within accumulated other comprehensive loss. Foreign exchange transaction gains and losses are included in the accompanying consolidated statements of operations. Shipping Costs Shipping costs to customers are included in selling expenses and amounted to approximately $1,591 and $1,477 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. Advertising Costs The Company charges advertising costs to selling expense as incurred. Advertising expense, which consists primarily of promotional and cooperative advertising allowances provided to customers, was approximately $11,970 and $12,863 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. Segment Information Operating segments are identified as components of an enterprise about which separate, discrete financial information is available for evaluation by the chief operating decision-maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one operating segment utilizing an omni-channel distribution strategy. Net Loss Per Share Basic earnings per share is calculated by dividing net loss for the period by the weighted average number of common stock outstanding during the period. Diluted loss per share for the Company is computed by dividing net loss by the dilutive weighted average shares outstanding which includes: the dilutive impact (using the "treasury stock" method) of "in the money" stock options and unvested restricted shares issued to employees. Options to purchase 1,052,026 and 1,023,825 shares of the Company's common stock and 331,516 and 268,432 of restricted shares were not included in the calculation, due to the fact that these instruments were anti-dilutive for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" providing new accounting guidance related to revenue recognition. This guidance was originally proposed to be effective for reporting periods beginning after December 15, 2016, however in July 2015, the FASB approved the delay in this guidance until reporting periods beginning after December 15, 2017. Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The Company has evaluated the new standard against its existing accounting policies and practices, including reviewing purchase orders, invoices, shipping terms, conducting questionnaires with its sales team and reviewing other agreements and contracts with customers. Based on the evaluation of the Company's current contracts and revenue streams, the Company does not expect the adoption of the standard to have a material impact on the company's consolidated financial position, results of operations, or cash flow on an ongoing basis. The Company expects to have enhanced disclosures related to disaggregation of revenue sources and accounting policies. The Company has elected to use the modified retrospective transition method to apply the new guidance and will adopt the new revenue guidance effective the first day of fiscal 2018 and the impact was immaterial. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." This guidance required inventory within the scope of ASU 2015-11 to be measured at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance was effective for fiscal years beginning after December 15, 2016. The Company adopted this guidance in the first quarter of 2017 and the impact on its consolidated financial statements was immaterial. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize assets and liabilities on the balance sheet for leases with lease terms greater than twelve months and disclose key information about leasing arrangements. The effective date will be the first quarter of fiscal year 2019, with early adoption permitted. The Company is evaluating the impact that adoption of this new standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation—Stock Compensation: Improvements to Employee Share-Based Payment Accounting." The guidance simplified the accounting and financial reporting of the income tax impact of stock-based compensation arrangements. This guidance required excess tax benefits to be recorded as a discrete item within income tax expense rather than additional paid-in-capital. In addition, excess tax benefits are required to be classified as cash from operating activities rather than cash from financing activities. The Company adopted this guidance as of the beginning of fiscal 2017. The Company also elected to continue to estimate forfeitures, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. The impact of adopting this guidance in the first quarter of 2017 was immaterial to the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (A Consensus of the FASB Emerging Issues Task Force). In an effort to reduce diversity in practice, ASU 2016-15 provides solutions for eight specific statement of cash flow classification issues. The ASU is effective for public companies beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company has evaluated the impact this guidance will have on its consolidated financial statements and expects the impact to be immaterial. Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 30, 2017
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	2. PROPERTY AND EQUIPMENT Property and equipment, at cost, consisted of the following: For the fiscal year December 30, December 31, Depreciation/ Computer-related $ $ 5 years Tools, dies, prototypes, and molds 1 - 5 years Building 30 years Other 1 - 15 years ​ ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total depreciation expense was $3,430 and $4,304 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. Property and equipment does not include amounts acquired under capital leases.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 30, 2017
INTANGIBLE ASSETS
INTANGIBLE ASSETS	3. INTANGIBLE ASSETS Intangible assets consisted of the following: For the December 30, December 31, Brand names $ $ Patents and licenses Customer relationships Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated amortization ) ) ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The amortization period for the majority of the intangible assets ranges from 5 to 20 years for those assets that have an estimated life; certain assets have indefinite lives (a brand name). Total of intangibles not subject to amortization amounted to $8,400 and $8,400 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. Amortization expense amounted to $768 and $707 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. The Company undertook its annual indefinite-lived intangible asset impairment analysis and engaged a third party to assist management in valuing the infinite lived intangible assets recorded on the balance sheet in the fourth quarter of fiscal 2017 and 2016. No asset impairment was recorded for the fiscal year ended December 30, 2017. For fiscal 2016, the Company determined that the estimated fair value of that indefinite lived asset was lower than its carrying value, and the Company recorded a non-cash impairment charge of $2,993. In addition, the Company deemed the remaining value of the indefinite lived asset to have a finite life subject to amortization over its remaining useful life estimated to be 15 years. This was a change in estimate and the financial impact was zero as of December 31, 2016. Estimated amortization expense for the remaining definite-lived assets for the next five years is as follows: Fiscal Year ending 2018 $ 2019 2020 2021 2022

DEBT

DEBT	12 Months Ended
	Dec. 30, 2017
DEBT
DEBT	4. DEBT Credit Facilities The Company and its wholly owned subsidiary, Summer Infant (USA), Inc., are parties to an amended and restated loan and security agreement with Bank of America, N.A., as agent, which provides for an asset-based credit facility The amended and restated loan and security agreement was entered into in April 2015 and has been subsequently amended, with the most recent amendment dated November 29, 2017 (as amended, the "Credit Facility"). The Credit Facility consists of a $60,000 asset-based revolving credit facility, with a $10,000 letter of credit sub-line facility (the "Revolving Facility"), a $5,000 "first in last out" (FILO) revolving credit facility (the "FILO Facility") and a $10,000 term loan facility (the "Term Loan Facility"). Pursuant to an accordion feature, the Credit Facility includes the ability to increase the Revolving Facility by an additional $15,000 upon the Company's request and the agreement of the lenders participating in the increase. The total borrowing capacity under the Revolving Facility is based on a borrowing base, generally defined as 85% of the value of eligible accounts plus the lesser of (i) 70% of the value of eligible inventory or (ii) 85% of the net orderly liquidation value of eligible inventory, less reserves. The total borrowing capacity under the FILO Facility is based on a borrowing base, generally defined as a specified percentage of the value of eligible accounts that steps down over time, plus a specified percentage of the value of eligible inventory that steps down over time. The scheduled maturity date of the loans under the Revolving Facility and the Term Loan Facility is April 21, 2020, and loans under the FILO Facility terminate April 21, 2018, subject in each case to customary early termination provisions. Any termination of the Revolving Facility would require termination of the Term Loan Facility and the FILO Facility. All obligations under the Credit Facility are secured by substantially all of the Company's assets. In addition, Summer Infant Canada Limited and Summer Infant Europe Limited, subsidiaries of the Company, are guarantors under the Credit Facility. Borrowings under the Revolving Facility bear interest, at the Company's option, at a base rate or at LIBOR, plus applicable margins based on average quarterly availability and ranging between 2.0% and 2.5% on LIBOR borrowings and 0.5% and 1.0% on base rate borrowings. Loans under the FILO Facility and Term Loan Facility will bear interest, at the Company's option, at a base rate or at LIBOR, plus a margin of 4.25% on LIBOR borrowings and 2.75% on base rate borrowings. Beginning on July 1, 2015, the Company was required to begin repaying the Term Loan Facility in quarterly installments of $500. Beginning with the fiscal year ending January 2, 2016, the Company was required to prepay the Term Loan Facility in an amount equal to 50% of the Company's "excess cash flow," as such term is defined in the Credit Facility, at the end of each fiscal year. Under the Credit Facility, the Company must comply with certain financial covenants, including that the Company (i) maintain a fixed charge coverage ratio of at least 1.0 to 1.0 for the twelve consecutive fiscal months most recently ended and (ii) maintain a certain leverage ratio at the end of each fiscal quarter. For purposes of the financial covenants, consolidated EBITDA is defined as net income before interest, taxes, depreciation and amortization, plus certain customary expenses, fees, non-cash charges, and minus certain customary non-cash items increasing net income and other specified items. The Credit Facility contains customary affirmative and negative covenants. Among other restrictions, the Company is restricted in its ability to incur additional debt, make acquisitions or investments, dispose of assets, or make distributions unless in each case certain conditions are satisfied. The Credit Facility also contains customary events of default, including the occurrence of a change of control. In the event of a default, all of the Company's obligations under the Credit Facility may be declared immediately due and payable. In addition, the Credit Facility contains cash dominion provisions that apply if an event of default occurs or if the Company's availability is less than an amount equal to 10% of the lesser of (i) the aggregate revolver commitments and (B) the revolver borrowing base under the Credit Facility. For certain events of default relating to insolvency and receivership, all outstanding obligations immediately become due and payable. As of December 30, 2017, the rate on base-rate loans was 5.50% and the rate on LIBOR-rate loans was 4.125%. The amount outstanding on the Revolving Facility at December 30, 2017 was $41,899. Total borrowing capacity under the Revolving Facility at December 30, 2017 was $45,098 and borrowing availability was $3,199. The amounts outstanding on the Term Loan Facility and FILO Facility at December 30, 2017 were $5,000 and $1,250, respectively. Aggregate maturities of bank debt related to the credit facility: Fiscal Year ending: 2018 $ 2019 2020 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unamortized debt issuance costs were $1,127 at December 30, 2017 and $1,226 at December 31, 2016, and are presented as a direct deduction of long-term debt on the consolidated balance sheets. Sale-Leaseback On March 24, 2009, Summer Infant (USA), Inc., the Company's wholly owned subsidiary ("Summer USA"), entered into a definitive agreement with Faith Realty II, LLC, a Rhode Island limited liability company ("Faith Realty") (the owner of which is Jason Macari, the former Chief Executive Officer of the Company and current investor), pursuant to which Faith Realty purchased the corporate headquarters of the Company located at 1275 Park East Drive, Woonsocket, Rhode Island (the "Headquarters"), for $4,052 and subsequently leased the Headquarters back to Summer USA for an annual rent of $390 during the initial seven year term of the lease, payable monthly and in advance. The original lease was to expire on the seventh anniversary of its commencement. Mr. Macari had given a personal guarantee to secure the Faith Realty debt on its mortgage; therefore, due to his continuing involvement in the building transaction, the transaction had been recorded as a financing lease, with no gain recognition. On February 25, 2009, the Company's Board of Directors (with Mr. Macari abstaining from such action) approved the sale leaseback transaction. In connection therewith, the Board of Directors granted a potential waiver, to the extent necessary, if at all, of the conflict of interest provisions of the Company's Code of Ethics, effective upon execution of definitive agreements within the parameters approved by the Board. In connection with granting such potential waiver, the Board of Directors engaged independent counsel to review the sale leaseback transaction and an independent appraiser to ascertain (i) the value of the Headquarters and (ii) the market rent for the Headquarters. In reaching its conclusion that the sale leaseback transaction is fair to the Company, the Board of Directors considered a number of factors, including Summer USA's ability to repurchase the headquarters at 110% of the initial sale price at the end of the initial term. The Company's Audit Committee approved the sale leaseback transaction (as a related party transaction) and the potential waiver and recommended the matter to a vote of the entire Board of Directors (which approved the transaction). On May 13, 2015, Summer USA entered into an amendment (the "Amendment") to its lease dated March 24, 2009 (the "Lease") with Faith Realty (the "Landlord"). Pursuant to the Amendment, (i) the initial term of the Lease was extended for two additional years, such that the initial term now ends on March 31, 2018, and the term of the Lease may be extended at Summer USA's election for one additional term of three years (rather than five years) upon twelve months' prior notice, (ii) the annual rent for the last two years of the newly amended initial term was set at $429 and the annual rent for the extension period, if elected, was set at $468 and (iii) the Landlord agreed to provide an aggregate improvement allowance of not more than $78 for the newly amended initial term, to be applied against Summer USA's monthly rent, and an additional improvement allowance of $234 for the extension term, if elected, to be applied against Summer USA's monthly rent during such extension term. The Amendment was reviewed and approved by the audit committee because it was a related party transaction. At December 30, 2017, approximately $106 of the lease obligation was included in accrued expenses, with the balance of approximately $2,581 included in other liabilities, in the accompanying consolidated balance sheet. This obligation is reduced each month (along with a charge to interest expense) as the rent payment is made to Faith Realty. On January 22, 2018, Summer USA entered into a second amendment (the "Second Amendment") to the Lease. Pursuant to the Second Amendment, (i) the term of the Lease was extended to March 31, 2021, with no further rights of extension, (ii) the annual rent for the last three years of the newly amended term was set at $468, (iii) Summer Infant no longer has the option to purchase the property subject to the Lease and (iv) the Landlord and Summer USA agreed to certain expenses, repairs and modifications to the property that is subject to the Lease. The Second Amendment was reviewed and approved by the audit committee because it was a related party transaction. Approximate future minimum sale-leaseback payments due under the lease is as follows: Fiscal Year Ending: 2018 $ 2019 2020 2021 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 30, 2017
INCOME TAXES
INCOME TAXES	5. INCOME TAXES In December 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "Tax Act") that significantly revised the U.S. tax code effective January 1, 2018 by, among other things, lowering the corporate income tax rate from a top marginal rate of 35% to a flat 21%, limiting deductibility of interest expense and performance based incentive compensation and implementing a territorial tax system. As a result of the Tax Act in the fiscal quarter ending December 30, 2017 we recorded a tax or "toll charge" of $734 on previously unremitted earnings of foreign subsidiaries, a writedown of $882 related to foreign tax credits and a writedown of the value of our deferred tax assets of $115. Under the guidance set forth in the SEC's Staff Accounting Bulletin No. 118, the Company may record provisional amounts for the impact of the Tax Act. At December 30, 2017, the Company made a reasonable estimate of the effects of the Tax Act on its existing deferred tax balances. The final impact of the Tax Act may differ from this estimate, possibly materially, due to, among other things, changes in interpretations and assumptions the Company has made and guidance that may be issued. The provision (benefit) for income taxes is summarized as follows: Fiscal 2017 Fiscal 2016 Current: Federal $ — $ — Foreign State and local ​ ​ ​ ​ ​ ​ ​ ​ Total current Deferred: Federal $ $ ) Foreign ) State and local ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred ) ​ ​ ​ ​ ​ ​ ​ ​ Total provision (benefit) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The tax effects of temporary differences that comprise the deferred tax liabilities and assets are as follows: December 30, December 31, Deferred tax assets: Accounts receivable $ $ Inventory and Unicap reserve Research and development credit, foreign tax credit and net operating loss carry-forward Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Intangible assets and other ) ) Property, plant and equipment ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ) ) Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities and valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax asset $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following reconciles the benefit for income taxes at the U.S. federal income tax statutory rate to the benefit in the consolidated financial statements: Fiscal 2017 Fiscal 2016 Tax benefit at statutory rate $ ) $ ) State income taxes, net of U.S. federal income tax benefit ) Adjustment to uncertain tax position ) Stock options Foreign tax rate differential ) Tax credits ) ) Non-deductible expenses Foreign repatriation/toll tax — Foreign tax credit valuation allowance — Foreign dividends/section 956 — Tax rate changes — Other ​ ​ ​ ​ ​ ​ ​ ​ Total benefit $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 30, 2017, the Company had approximately $5,996 of federal and state net operating loss carry forwards (or "NOLs") to offset future federal taxable income. The federal NOL will begin to expire in 2031 and the state NOL began to expire in 2018. The Company also has approximately $1,470, $328, $2,655, and $564 of NOLs in Canada, Australia, Israel, and the United Kingdom, which can be carried forward indefinitely. Authoritative guidance requires a valuation allowance to reduce the deferred tax assets reported, if based on the weight of the evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. After consideration of all evidence, including the Company's past earnings history and future earnings forecast, management has determined that a valuation allowance in the amount of $1,907 relating to certain state tax credits and foreign NOL's is necessary at December 30, 2017 and $1,357 at December 31, 2016. Due to the Tax Act, the Company determined an additional provisional valuation allowance in the amount of $882 relating to foreign tax credits was necessary at December 30, 2017. A summary of the Company's adjustment to its uncertain tax positions in fiscal years ended December 30, 2017 and December 31, 2016 are as follows: December 30, December 31, Balance, at beginning of the year $ $ Increase for tax positions related to the current year — — Increase for tax positions related to prior years — — Increase for interest and penalties Decrease for lapses of statute of limitations ) — ​ ​ ​ ​ ​ ​ ​ ​ Balance, at end of year $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The unrecognized tax benefits mentioned above include an aggregate of $52 of accrued interest and penalty balances related to uncertain tax positions. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. An increase in accrued interest and penalty charges of approximately $13, net of federal tax expense, was recorded as a tax expense during the current fiscal year. The Company anticipates the remaining liability of $325 may reverse as of March 31, 2018 due to lapse of statute of limitations at that time. The Company is subject to U.S. federal income tax, as well as to income tax of multiple state and foreign tax jurisdictions. On a global basis, the open tax years subject to examination by major taxing jurisdictions in which the Company operates is between two to six years.

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	12 Months Ended
	Dec. 30, 2017
SHARE BASED COMPENSATION
SHARE BASED COMPENSATION	6. SHARE BASED COMPENSATION The Company is currently authorized to issue up to 1,700,000 shares for equity awards under the Company's 2012 Incentive Compensation Plan (as amended, "2012 Plan"). Periodically, the Company may also grant equity awards outside of its 2012 Plan as inducement grants for new hires. The Company was authorized to issue up to 3,000,000 shares for equity awards under its 2006 Performance Equity Plan ("2006 Plan"). In March 2017, the 2006 Plan expired and no additional equity awards can be granted under the 2006 Plan. Under the 2012 Plan, awards may be granted to participants in the form of non-qualified stock options, incentive stock options, restricted stock, deferred stock, restricted stock units and other stock-based awards. Subject to the provisions of the plans, awards may be granted to employees, officers, directors, advisors and consultants who are deemed to have rendered or are able to render significant services to the Company or its subsidiaries and who are deemed to have contributed or to have the potential to contribute to the Company's success. The Company accounts for options under the fair value recognition standard. The application of this standard resulted in share-based compensation expense for the twelve months ended December 30, 2017 and December 31, 2016 of $494 and $482, respectively. Share based compensation expense is included in selling, general and administrative expenses. As of December 30, 2017, there are 1,338,583 shares available to grant under the 2012 Plan. Stock Options The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the table below. The Company uses the simplified method to estimate the expected term of the options for grants of "plain vanilla" stock options as prescribed by the Securities and Exchange Commission. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Share-based compensation expense recognized in the consolidated financial statements in fiscal 2017 and 2016 is based on awards that are ultimately expected to vest. The following table summarizes the weighted average assumptions used for options granted during the fiscal years ended December 30, 2017 and December 31, 2016. Fiscal Fiscal Expected life (in years) Risk-free interest rate % % Volatility % % Dividend yield % % Forfeiture rate % % The weighted-average grant date fair value of options granted during the year ended December 30, 2017 was $1.16 per share which totaled $453 for the 390,500 options granted during such period. The weighted-average grant date fair value of options granted during the year ended December 31, 2016 was $0.92 per share which totaled $316 for the 343,300 options granted during such period A summary of the status of the Company's options as of December 30, 2017 and changes during the year then ended is presented below: Number Of Weighted-Average Outstanding at beginning of year $ Granted $ Exercised $ Canceled or expired $ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at end of year $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 30, 2017 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding stock options vested and expected to vest as of December 30, 2017 is 871,062. The intrinsic value of options exercised totaled was $3 and zero for the fiscal years ended December 30, 2017 and December 31, 2016, respectively. The following table summarizes information about stock options at December 30, 2017: Options Outstanding Options Exercisable Range of Number Remaining Weighted Number Remaining Weighted $1.29 - $2.00 $ $ $2.01 - $3.00 $ $ $3.01 - $4.00 $ $ $4.01 - $6.00 $ $ $6.01 - $8.00 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ The aggregate intrinsic value of options outstanding and exercisable at December 30, 2017 and December 31, 2016 are $5 and $9, respectively. As of December 30, 2017, there was approximately $364 of unrecognized compensation cost related to non-vested stock option awards, which is expected to be recognized over a remaining weighted-average vesting period of 2.7 years. Restricted Stock Awards Restricted stock awards require no payment from the grantee. The related compensation cost of each award is calculated using the market price on the grant date and is expensed equally over the vesting period. A summary of restricted stock awards made in the year ended December 30, 2017, is as follows: Number of Grant Date Non-vested restricted stock awards as of December 31, 2016 $ Granted $ Vested and released $ Forfeited $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested restricted stock awards as of December 30, 2017 $ ​ ​ ​ ​ ​ ​ ​ ​ As of December 30, 2017, there was approximately $314 of unrecognized compensation cost related to non-vested stock compensation arrangements granted under the Company's stock incentive plan for restricted stock awards. That cost is expected to be recognized over the next 2.6 years. Restricted Stock Units In December 2015, the Company's Board of Directors granted restricted stock units ("RSUs") to the executive Chairman of the Board. The RSUs represent the right to receive shares of the Company's common stock upon achievement of specified stock price performance metrics, and only vest if such market-based performance metrics are achieved. There was $26 of recognized compensation cost for the year ended December 31, 2016. The RSUs expired on August 3, 2016. On July 13, 2016, the Company granted 100,000 performance-based RSUs to its new Chief Executive Officer. The RSUs represent the right to receive shares of the Company's common stock upon achievement of specified performance metrics, and only vest if such performance metrics are achieved for fiscal year 2017 and fiscal year 2018. The RSU's expire if the performance metrics are not achieved or if employment is terminated. The fair value of the RSUs will be recognized as it is earned and when it is probable that the performance conditions will be met. The Company did not recognize any compensation expense in fiscal 2017 and fiscal 2016 related to this award as it is unlikely that performance metrics will be achieved.

PROFIT SHARING PLAN

PROFIT SHARING PLAN	12 Months Ended
	Dec. 30, 2017
PROFIT SHARING PLAN
PROFIT SHARING PLAN	7. PROFIT SHARING PLAN Summer Infant (USA), Inc. maintains a defined contribution salary deferral plan under Section 401(k) of the Internal Revenue Code. All employees who meet the plan's eligibility requirements can participate. Employees may elect to make contributions up to federal limitations. In 2007, the Company adopted a matching plan which was further amended in 2013, and which was funded throughout the year. For the years ended December 30, 2017 and December 31, 2016, the Company recorded 401(k) matching expense of $386 and $356, respectively.

MAJOR CUSTOMERS

MAJOR CUSTOMERS	12 Months Ended
	Dec. 30, 2017
MAJOR CUSTOMERS
MAJOR CUSTOMERS	8. MAJOR CUSTOMERS Sales to the Company's top seven customers together comprised approximately 77% of our sales in fiscal 2017 and 75% of our sales in fiscal 2016. Of these customers, four generated more than 10% of sales for fiscal 2017: Amazon.com (25%), Babies R Us/Toys R Us (17%), Walmart (16%), and Target (11%). In fiscal 2016, four customers generated more than 10% of sales: Amazon.com (20%), Babies R Us/Toys R Us (20%), Walmart (15%), and Target (11%).

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 30, 2017
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES Royalty Commitments Summer Infant (USA), Inc. has entered into various license agreements with third parties for the use of product designs, software licenses, and trade names for the products manufactured by the Company. These agreements have termination dates through December 2020. Royalty expense under these licensing agreements for the years ended December 30, 2017 and December 31, 2016 were approximately $69 and $315, respectively. Customer Agreements The Company enters into annual agreements with its customers in the normal course of business. These agreements define the terms of product sales including, in some instances, cooperative advertising costs and product return privileges (for defective products only) or defective allowances (which are based upon historical experience). These contracts are generally annual in nature and obligate the Company only as to products actually sold to the customer pursuant to a purchase order. Lease Commitments For lease agreements with escalation clauses, the Company records the total rent to be paid under the lease on a straight-line basis over the term of the lease, with the difference between the expense recognized and the cash paid recorded as a deferred rent liability included in accrued expenses on the balance sheet for amounts to be recognized within twelve months and in other liabilities for amounts to be recognized after twelve months from the balance sheet date, in the consolidated balance sheets. Lease incentives are recorded as deferred rent at the beginning of the lease term and recognized as a reduction of rent expense over the term of the lease. Summer Infant Europe Limited leases office space under a non-cancelable operating lease agreement. This lease is for a five-year term through March 2022, and requires monthly payments of approximately $6. In addition, Summer Infant Europe Limited is required to pay its proportionate share of property taxes. Summer Infant Canada, Ltd. entered into a five-year lease for office and warehouse space under a non-cancelable operating lease agreement expiring June 2023. The Company is obligated as part of the lease to pay maintenance expenses as well as property taxes and insurance costs as defined in the agreement. Monthly payments are approximately $25 over the course of the lease term. Summer Infant Canada, Ltd. has the option to renew this lease for one additional period of five years under similar terms and conditions. Summer Infant (USA) Inc. entered into a 72 month lease in September 2010 for warehouse space under a non-cancelable operating lease agreement. The Company is obligated to pay certain common area maintenance charges including insurance and utilities. The lease was extended in 2015 and now expires in September 2021. Monthly payments were $170 in fiscal 2017 and escalate to $186 over the remaining life of the lease. During November 2017, Summer Infant Asia entered into a two year office lease which requires monthly payments of $10 through 2019. Approximate future minimum rental payments due under these leases are as follows(a): Fiscal Year Ending: 2018 $ 2019 2020 2021 2022 and beyond ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts exclude payments for sales-leaseback transaction as described in Note 4. Rent expense (excluding taxes, fees and other charges) for the years ended December 30, 2017 and December 31, 2016 totaled approximately $2,654 and $2,692, respectively. Employment Contracts In accordance with United Kingdom and EU law, Summer Infant Europe Limited is required to have employment contracts with all of its employees. In connection with these contracts, Summer Infant Europe Limited makes individual pension contributions to certain employees at varying rates from 1-7% of the employee's annual salary, as part of their total compensation package. These pension contributions are expensed as incurred. There are no termination benefit provisions in these contracts. Litigation The Company is a party to routine litigation and administrative complaints incidental to its business. The Company does not believe that the resolution of any or all of such current routine litigation and administrative complaints is likely to have a material adverse effect on the Company's financial condition or results of operations.

GEOGRAPHICAL INFORMATION

GEOGRAPHICAL INFORMATION	12 Months Ended
	Dec. 30, 2017
GEOGRAPHICAL INFORMATION
GEOGRAPHICAL INFORMATION	10. GEOGRAPHICAL INFORMATION The Company sells products throughout the United States, Canada, and the United Kingdom, and various other parts of the world. The Company does not disclose product line revenues as it is not practicable for the Company to do so. The following is a table that presents net revenue by geographic area: For the fiscal year December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following is a table that presents total assets by geographic area: December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following is a table that presents total long lived assets by geographic area: December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 30, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS The Company has evaluated all events or transactions that occurred after December 30, 2017 through the date of this Annual Report. No subsequent event disclosures are required.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenue Recognition	Revenue Recognition The Company records revenue when all of the following occur: persuasive evidence of an arrangement exists, product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Sales are recorded net of provisions for returns and allowances, customer discounts, and other sales related discounts. The Company bases its estimates for discounts, returns and allowances on negotiated customer terms and historical experience. Customers do not have the right to return products unless the products are defective. The Company records a reduction of sales for estimated future defective product deductions based on contractual terms and historical experience. Sales incentives or other consideration given by the Company to customers that are considered adjustments of the selling price of products, such as markdowns, are reflected as reductions of revenue. Sales incentives and other consideration that represent costs incurred by the Company for assets or services received, such as the appearance of the Company's products in a customer's national circular ad, are reflected as selling and marketing expenses in the accompanying statements of operations.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. These estimates are based on management's best knowledge of current events and actions the Company may undertake in the future. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash flows, cash and cash equivalents include money market accounts and investments with an original maturity of three months or less. At times, the Company possesses cash balances in excess of federally-insured limits.
Trade Receivables	Trade Receivables Trade receivables are carried at their outstanding unpaid principal balances reduced by an allowance for doubtful accounts. The Company estimates doubtful accounts based on historical bad debts, factors related to specific customers' ability to pay and current economic trends. The Company writes off accounts receivable against the allowance when a balance is determined to be uncollectible. Amounts are considered to be uncollectable based upon historical experience and management's evaluation of outstanding accounts receivable. Changes in the allowance for doubtful accounts are as follows: For the December 30, December 31, Allowance for doubtful accounts, beginning of period $ $ Charges to costs and expenses Account write-offs and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Allowance for doubtful accounts, end of period $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Inventory Valuation	Inventory Valuation Inventory is comprised mostly of finished goods and some component parts and is stated at the lower of cost using the first-in, first-out (FIFO) method, or net realizable value. The Company regularly reviews slow-moving and excess inventories, and writes down inventories to net realizable value if the ultimate expected net proceeds from the disposals of excess inventory are less than the carrying cost of the merchandise.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. The Company owns the tools and molds used in the production of its products by third party manufacturers. Capitalized mold costs include costs incurred for the pre-production design and development of the molds. Depreciation is provided over the estimated useful lives of the respective assets using either straight-line or accelerated methods.
Long-Lived Assets with Finite Lives	Long-Lived Assets with Finite Lives The Company reviews long-lived assets with finite lives for impairment on an asset group level whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. An asset is considered to be impaired when its carrying amount exceeds both the sum of the undiscounted future net cash flows expected to result from the use of the asset and its eventual disposition and the assets' fair value. Long-lived assets include property and equipment and finite-lived intangible assets. The amount of impairment loss, if any, is charged by the Company to current operations.
Indefinite-Lived Intangible Assets	Indefinite-Lived Intangible Assets The Company accounts for intangible assets in accordance with accounting guidance that requires that intangible assets with indefinite useful lives be tested annually for impairment and more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company's annual impairment testing is conducted in the fourth quarter of every year. The Company tests indefinite-lived intangible assets for impairment by comparing the asset's fair value to its carrying amount. If the fair value is less than the carrying amount, the excess of the carrying amount over fair value is recognized as an impairment charge and the adjusted carrying amount becomes the assets' new cost basis. Management also evaluates the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. If an intangible asset that is not being amortized is subsequently determined to have a finite useful life, it is amortized prospectively over its estimated remaining useful life. For the year ended December 31, 2016, the Company determined that certain indefinite-lived intangible assets were impaired. See Note 3 for a discussion on the fiscal year 2016 impairment charge. No impairment charge was recorded for fiscal 2017.
Fair Value Measurements	Fair Value Measurements The Company follows ASC 820, "Fair Value Measurements and Disclosures" which includes a framework for measuring fair value and expanded related disclosures. Broadly, the framework requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The standard established a three-level valuation hierarchy based upon observable and non-observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1—Quoted prices for identical instruments in active markets. Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3—Significant inputs to the valuation model are unobservable. The Company maintains policies and procedures to value instruments using the best and most relevant data available. In addition, the Company utilizes third party specialists that review valuation, including independent price validation. The Company's financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable, accrued expenses, and short and long-term borrowings. Because of their short maturity, the carrying amounts of cash and cash equivalents, accounts and notes receivable, accounts payable, accrued expenses and short-term borrowings approximate fair value. The carrying value of long-term borrowings approximates fair value since the stated rate is similar to rates currently available to the Company for debt with similar terms and remaining maturities. The Company's assets measured at fair value on a nonrecurring basis include long-lived assets and finite-lived intangibles. The Company tests its indefinite-lived assets for impairment at least annually and whenever events or changes in circumstances indicate that the carrying value may not be recoverable or that the carrying value may exceed its fair value. The resulting fair value measurements are considered to be Level 3 inputs. During the fourth quarter of fiscal 2016, the Company determined that the estimated fair value of an indefinite lived asset was lower than its carrying value and the Company recorded a non-cash impairment charge of $2,993 which reduced the value of the intangible asset to approximately $915, as more fully described in "Note 3 to the Consolidated Financial Statements—Intangible Assets."
Income taxes	Income taxes Income taxes are computed using the asset and liability method of accounting. Under the asset and liability method, a deferred tax asset or liability is recognized for estimated future tax effects attributable to temporary differences and carryforwards. The measurement of deferred income tax assets is adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, it is more likely than not that such benefits will be realized. The Company follows the applicable guidance relative to uncertain tax positions. This standard provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Uncertain tax positions must meet a recognition threshold of more-likely-than-not in order for those tax positions to be recognized in the financial statements.
Translation of Foreign Currencies	Translation of Foreign Currencies The assets and liabilities of the Company's European, Canadian, Israeli, and Asian operations have been translated into U.S. dollars at year-end exchange rates and the income and expense accounts of these subsidiaries have been translated at average rates prevailing during each respective year. Resulting translation adjustments are made to a separate component of stockholders' equity within accumulated other comprehensive loss. Foreign exchange transaction gains and losses are included in the accompanying consolidated statements of operations.
Shipping Costs	Shipping Costs Shipping costs to customers are included in selling expenses and amounted to approximately $1,591 and $1,477 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively.
Advertising Costs	Advertising Costs The Company charges advertising costs to selling expense as incurred. Advertising expense, which consists primarily of promotional and cooperative advertising allowances provided to customers, was approximately $11,970 and $12,863 for the fiscal years ended December 30, 2017 and December 31, 2016, respectively.
Segment Information	Segment Information Operating segments are identified as components of an enterprise about which separate, discrete financial information is available for evaluation by the chief operating decision-maker, or decision-making group, in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one operating segment utilizing an omni-channel distribution strategy.
Net Loss Per Share	Net Loss Per Share Basic earnings per share is calculated by dividing net loss for the period by the weighted average number of common stock outstanding during the period. Diluted loss per share for the Company is computed by dividing net loss by the dilutive weighted average shares outstanding which includes: the dilutive impact (using the "treasury stock" method) of "in the money" stock options and unvested restricted shares issued to employees. Options to purchase 1,052,026 and 1,023,825 shares of the Company's common stock and 331,516 and 268,432 of restricted shares were not included in the calculation, due to the fact that these instruments were anti-dilutive for the fiscal years ended December 30, 2017 and December 31, 2016, respectively.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" providing new accounting guidance related to revenue recognition. This guidance was originally proposed to be effective for reporting periods beginning after December 15, 2016, however in July 2015, the FASB approved the delay in this guidance until reporting periods beginning after December 15, 2017. Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The Company has evaluated the new standard against its existing accounting policies and practices, including reviewing purchase orders, invoices, shipping terms, conducting questionnaires with its sales team and reviewing other agreements and contracts with customers. Based on the evaluation of the Company's current contracts and revenue streams, the Company does not expect the adoption of the standard to have a material impact on the company's consolidated financial position, results of operations, or cash flow on an ongoing basis. The Company expects to have enhanced disclosures related to disaggregation of revenue sources and accounting policies. The Company has elected to use the modified retrospective transition method to apply the new guidance and will adopt the new revenue guidance effective the first day of fiscal 2018 and the impact was immaterial. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." This guidance required inventory within the scope of ASU 2015-11 to be measured at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance was effective for fiscal years beginning after December 15, 2016. The Company adopted this guidance in the first quarter of 2017 and the impact on its consolidated financial statements was immaterial. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," ("ASU 2016-02"). ASU 2016-02 requires lessees to recognize assets and liabilities on the balance sheet for leases with lease terms greater than twelve months and disclose key information about leasing arrangements. The effective date will be the first quarter of fiscal year 2019, with early adoption permitted. The Company is evaluating the impact that adoption of this new standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation—Stock Compensation: Improvements to Employee Share-Based Payment Accounting." The guidance simplified the accounting and financial reporting of the income tax impact of stock-based compensation arrangements. This guidance required excess tax benefits to be recorded as a discrete item within income tax expense rather than additional paid-in-capital. In addition, excess tax benefits are required to be classified as cash from operating activities rather than cash from financing activities. The Company adopted this guidance as of the beginning of fiscal 2017. The Company also elected to continue to estimate forfeitures, as permitted by ASU 2016-09, rather than electing to account for forfeitures as they occur. The impact of adopting this guidance in the first quarter of 2017 was immaterial to the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (A Consensus of the FASB Emerging Issues Task Force). In an effort to reduce diversity in practice, ASU 2016-15 provides solutions for eight specific statement of cash flow classification issues. The ASU is effective for public companies beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company has evaluated the impact this guidance will have on its consolidated financial statements and expects the impact to be immaterial. Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Changes in the allowance for doubtful accounts	For the December 30, December 31, Allowance for doubtful accounts, beginning of period $ $ Charges to costs and expenses Account write-offs and other ) ) ​ ​ ​ ​ ​ ​ ​ ​ Allowance for doubtful accounts, end of period $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 30, 2017
PROPERTY AND EQUIPMENT
Schedule of property and equipment, at cost	For the fiscal year December 30, December 31, Depreciation/ Computer-related $ $ 5 years Tools, dies, prototypes, and molds 1 - 5 years Building 30 years Other 1 - 15 years ​ ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 30, 2017
INTANGIBLE ASSETS
Schedule of intangible assets	For the December 30, December 31, Brand names $ $ Patents and licenses Customer relationships Other intangibles ​ ​ ​ ​ ​ ​ ​ ​ Less: accumulated amortization ) ) ​ ​ ​ ​ ​ ​ ​ ​ Intangible assets, net $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of estimated amortization expense for the next five years	Fiscal Year ending 2018 $ 2019 2020 2021 2022

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 30, 2017
DEBT
Schedule of aggregate maturities of bank debt	Fiscal Year ending: 2018 $ 2019 2020 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of approximate future minimum sale-leaseback payments	Fiscal Year Ending: 2018 $ 2019 2020 2021 ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 30, 2017
INCOME TAXES
Schedule of provision (benefit) for income taxes	Fiscal 2017 Fiscal 2016 Current: Federal $ — $ — Foreign State and local ​ ​ ​ ​ ​ ​ ​ ​ Total current Deferred: Federal $ $ ) Foreign ) State and local ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred ) ​ ​ ​ ​ ​ ​ ​ ​ Total provision (benefit) $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of tax effects of temporary differences that comprise the deferred tax liabilities and assets	December 30, December 31, Deferred tax assets: Accounts receivable $ $ Inventory and Unicap reserve Research and development credit, foreign tax credit and net operating loss carry-forward Other ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax assets ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: Intangible assets and other ) ) Property, plant and equipment ) ) ​ ​ ​ ​ ​ ​ ​ ​ Total deferred tax liabilities ) ) Valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities and valuation allowance ) ) ​ ​ ​ ​ ​ ​ ​ ​ Net deferred income tax asset $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of reconciliation of the benefit for income taxes at the U.S. federal income tax statutory rate to the benefit in the consolidated financial statements	Fiscal 2017 Fiscal 2016 Tax benefit at statutory rate $ ) $ ) State income taxes, net of U.S. federal income tax benefit ) Adjustment to uncertain tax position ) Stock options Foreign tax rate differential ) Tax credits ) ) Non-deductible expenses Foreign repatriation/toll tax — Foreign tax credit valuation allowance — Foreign dividends/section 956 — Tax rate changes — Other ​ ​ ​ ​ ​ ​ ​ ​ Total benefit $ $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of the Company's adjustment to its uncertain tax positions	December 30, December 31, Balance, at beginning of the year $ $ Increase for tax positions related to the current year — — Increase for tax positions related to prior years — — Increase for interest and penalties Decrease for lapses of statute of limitations ) — ​ ​ ​ ​ ​ ​ ​ ​ Balance, at end of year $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 30, 2017
SHARE BASED COMPENSATION
Summary of weighted average assumptions used for stock options granted	Fiscal Fiscal Expected life (in years) Risk-free interest rate % % Volatility % % Dividend yield % % Forfeiture rate % %
Summary of status of the Company's options and changes during the period	Number Of Weighted-Average Outstanding at beginning of year $ Granted $ Exercised $ Canceled or expired $ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at end of year $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 30, 2017 $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary of stock options, by exercise price	The following table summarizes information about stock options at December 30, 2017: Options Outstanding Options Exercisable Range of Number Remaining Weighted Number Remaining Weighted $1.29 - $2.00 $ $ $2.01 - $3.00 $ $ $3.01 - $4.00 $ $ $4.01 - $6.00 $ $ $6.01 - $8.00 $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $
Schedule of non-vested activity - Restricted Stock Awards	Number of Grant Date Non-vested restricted stock awards as of December 31, 2016 $ Granted $ Vested and released $ Forfeited $ ​ ​ ​ ​ ​ ​ ​ ​ Non-vested restricted stock awards as of December 30, 2017 $ ​ ​ ​ ​ ​ ​ ​ ​

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 30, 2017
COMMITMENTS AND CONTINGENCIES
Schedule of future minimum rental payments due under operating leases	Approximate future minimum rental payments due under these leases are as follows(a): Fiscal Year Ending: 2018 $ 2019 2020 2021 2022 and beyond ​ ​ ​ ​ ​ Total $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Amounts exclude payments for sales-leaseback transaction as described in Note 4.

GEOGRAPHICAL INFORMATION (Table

GEOGRAPHICAL INFORMATION (Tables)	12 Months Ended
	Dec. 30, 2017
GEOGRAPHICAL INFORMATION
Schedule of net revenue by geographic area	For the fiscal year December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of total assets by geographic area	December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of total long lived assets by geographic area	December 30, December 31, United States $ $ All Other ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Trade Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Trade Receivables
Allowance for doubtful accounts, beginning of period	$ 64	$ 149
Charges to costs and expenses	1,646	46
Account write-offs and other	(88)	(131)
Allowance for doubtful accounts, end of period	$ 1,622	$ 64

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Indefinite Lived Intangible Assets
Impairment of indefinite-lived intangible assets	$ 0	$ 2,993
Intangibles not subject to amortization	$ 8,400	8,400
Brand Names, Impaired
Indefinite Lived Intangible Assets
Intangibles not subject to amortization		$ 915

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Shipping and Advertising Costs (Details) $ in Thousands	12 Months Ended
	Dec. 30, 2017USD ($)segment	Dec. 31, 2016USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Shipping costs to customers	$ 1,591	$ 1,477
Advertising costs	$ 11,970	$ 12,863
Number of operating segments | segment	1

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Loss Per Share (Details) - shares	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Stock options
Net Loss Per Share
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)	1,052,026	1,023,825
Restricted Stock Awards
Net Loss Per Share
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)	331,516	268,432

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Property and equipment
Property and equipment, gross	$ 42,841	$ 42,504
Less: accumulated depreciation	33,201	32,539
Property and equipment, net	9,640	9,965
Total depreciation expense	3,430	4,304
Computer-related
Property and equipment
Property and equipment, gross	$ 3,994	$ 3,861
Depreciation/Amortization Period	P5Y	P5Y
Tools, dies, prototypes, and molds
Property and equipment
Property and equipment, gross	$ 28,445	$ 28,342
Tools, dies, prototypes, and molds | Minimum
Property and equipment
Depreciation/Amortization Period	P1Y	P1Y
Tools, dies, prototypes, and molds | Maximum
Property and equipment
Depreciation/Amortization Period	P5Y	P5Y
Building
Property and equipment
Property and equipment, gross	$ 4,156	$ 4,156
Depreciation/Amortization Period	P30Y	P30Y
Other
Property and equipment
Property and equipment, gross	$ 6,246	$ 6,145
Other | Minimum
Property and equipment
Depreciation/Amortization Period	P1Y	P1Y
Other | Maximum
Property and equipment
Depreciation/Amortization Period	P15Y	P15Y

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Intangible assets
Intangible assets, gross	$ 24,413	$ 24,413
Less: accumulated amortization	(10,367)	(9,600)
Intangible assets, net	14,046	14,813
Intangibles not subject to amortization	8,400	8,400
Amortization expense	768	707
Impairment of intangible assets	0	$ 2,993
Estimated future amortization expense
2,018	746
2,019	738
2,020	488
2,021	488
2,022	$ 488
Change in Estimate, Intangible Assets, Useful Life
Intangible assets
Amortization period of intangible assets		15 years
Financial impact due to change in estimate		$ 0
Minimum
Intangible assets
Amortization period of intangible assets	5 years	5 years
Maximum
Intangible assets
Amortization period of intangible assets	20 years	20 years
Patents and licenses
Intangible assets
Intangible assets, gross	$ 3,766	$ 3,766
Customer relationships
Intangible assets
Intangible assets, gross	6,946	6,946
Other intangibles
Intangible assets
Intangible assets, gross	1,882	1,882
Brand names
Intangible assets
Intangible assets, gross	$ 11,819	$ 11,819

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - USD ($) $ in Thousands	Jul. 01, 2015	Dec. 30, 2017	Dec. 31, 2016
Credit Facility
Credit Facilities
Number of most recent consecutive months used to measure fixed charge coverage ratio		12 months
Threshold for cash dominion provision		10.00%
Unamortized debt issuance costs		$ 1,127	$ 1,226
Aggregate maturities of bank debt
2,018		3,250
2,019		2,000
2,020		42,899
Total		$ 48,149
Credit Facility | Minimum
Credit Facilities
Fixed charge coverage ratio		1
Credit Facility | LIBOR
Credit Facilities
Interest rate during the period		4.125%
Credit Facility | Base rate
Credit Facilities
Interest rate during the period		5.50%
Revolving Facility
Credit Facilities
Maximum amount of credit available		$ 60,000
Additional borrowing capacity available upon Company request		$ 15,000
Borrowing base as a percentage of eligible receivables		85.00%
Borrowing base as a percentage of eligible inventory		70.00%
Borrowing base as a percentage of net orderly liquidation value of eligible inventory and less reserves		85.00%
Amount outstanding on credit facility		$ 41,899
Borrowing capacity		45,098
Borrowing availability		3,199
Letter of Credit
Credit Facilities
Maximum amount of credit available		10,000
FILO Facility
Credit Facilities
Maximum amount of credit available		5,000
Amount outstanding on credit facility		1,250
Term Loan Facility
Credit Facilities
Maximum amount of credit available		$ 10,000
Quarterly payment due beginning July 1, 2015	$ 500
Required prepayment amount of excess cash flow beginning with fiscal year ending January 2, 2016 (as a percent)		50.00%
Amount outstanding, term loan		$ 5,000
Interest Rate Option One | Revolving Facility | LIBOR
Credit Facilities
Interest rate basis		LIBOR
Interest Rate Option One | Revolving Facility | LIBOR | Minimum
Credit Facilities
Applicable margin (as a percent)		2.00%
Interest Rate Option One | Revolving Facility | LIBOR | Maximum
Credit Facilities
Applicable margin (as a percent)		2.50%
Interest Rate Option One | FILO Facility and Term Loan Facility | LIBOR
Credit Facilities
Interest rate basis		LIBOR
Applicable margin (as a percent)		4.25%
Interest Rate Option Two | Revolving Facility | Base rate | Minimum
Credit Facilities
Base rate, interest rate on borrowings		0.50%
Interest Rate Option Two | Revolving Facility | Base rate | Maximum
Credit Facilities
Base rate, interest rate on borrowings		1.00%
Interest Rate Option Two | FILO Facility and Term Loan Facility | Base rate
Credit Facilities
Base rate, interest rate on borrowings		2.75%

DEBT - Sale Leaseback Transacti

DEBT - Sale Leaseback Transactions (Details) - Summer Infant (USA), Inc. - Sale-leaseback definitive agreement with Faith Realty II, LLC $ in Thousands	Jan. 22, 2018USD ($)	May 13, 2015USD ($)period	Mar. 24, 2009USD ($)	Dec. 30, 2017USD ($)
Sale Leaseback
Sale proceeds			$ 4,052
Repurchase price as a percentage of the initial sale price				110.00%
Accrued expenses
Sale Leaseback
Rent expense				$ 106
Other liabilities
Sale Leaseback
Rent expense				$ 2,581
Original Lease
Sale Leaseback
Annual rent			$ 390
Lease term			7 years
Original Lease, Optional Extension
Sale Leaseback
Lease term			5 years
Amended Lease
Sale Leaseback
Annual rent		$ 429
Lease term		2 years
Leasehold improvement allowance		$ 78
Amended Lease, Optional Extension
Sale Leaseback
Annual rent		$ 468
Lease term		3 years
Number of extensions | period		1
Prior notice required for extension		12 months
Leasehold improvement allowance		$ 234
Second Amendment
Sale Leaseback
Annual rent	$ 468
Lease term	3 years

DEBT - Future Minimum Sale-Leas

DEBT - Future Minimum Sale-Leaseback Payments (Details) - Summer Infant (USA), Inc. - Sale-leaseback definitive agreement with Faith Realty II, LLC $ in Thousands	Dec. 30, 2017USD ($)
Future minimum sale-leaseback payments
2,018	$ 458
2,019	468
2,020	468
2,021	117
Total	$ 1,511

INCOME TAXES - Tax Act (Details

INCOME TAXES - Tax Act (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 30, 2017	Dec. 29, 2018	Dec. 30, 2017
Tax Cuts and Jobs Act of 2017
Federal statutory income tax rate			35.00%
Tax on previously unremitted earnings of foreign subsidiaries	$ 734
Writedown related to foreign tax credits	882
Writedown of the value of deferred tax assets	$ 115
Forecast
Tax Cuts and Jobs Act of 2017
Federal statutory income tax rate		21.00%

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Current:
Foreign	$ 256	$ 185
State and local	5	6
Total current	261	191
Deferred:
Federal	1,631	(406)
Foreign	175	(910)
State and local	105	(49)
Total deferred	1,911	(1,365)
Total provision (benefit)	$ 2,172	$ (1,174)

INCOME TAXES - Deferred Income

INCOME TAXES - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Deferred tax assets:
Accounts receivable	$ 7	$ 17
Inventory and Unicap reserve	477	676
Research and development credit, foreign tax credit and net operating loss carry-forward	6,338	7,658
Other		102
Total deferred tax assets	6,822	8,453
Deferred tax liabilities:
Intangible assets and other	(1,905)	(2,595)
Property, plant and equipment	(193)	(653)
Total deferred tax liabilities	(2,098)	(3,248)
Valuation allowance	(2,789)	(1,357)
Deferred tax liabilities and valuation allowance	(4,887)	(4,605)
Net deferred income tax asset	$ 1,935	$ 3,848

INCOME TAXES - Reconciliation (

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation
Tax benefit at statutory rate	$ (26)	$ (1,869)
State income taxes, net of U.S. federal income tax benefit	87	(28)
Adjustment to uncertain tax position	(16)	14
Stock options	52	70
Foreign tax rate differential	(14)	133
Tax credits	(172)	(123)
Non-deductible expenses	315	498
Foreign repatriation/toll tax	734
Foreign tax credit valuation allowance	882
Foreign dividends/section 956	86
Tax rate changes	115
Other	129	131
Total provision (benefit)	$ 2,172	$ (1,174)

INCOME TAXES - NOL Carryforward

INCOME TAXES - NOL Carryforwards and Uncertain Tax Positions (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 30, 2017	Dec. 30, 2017	Dec. 31, 2016
Net operating loss carryforwards
Valuation Allowance	$ 2,789	$ 2,789	$ 1,357
Writedown related to foreign tax credits	882
Accrued interest and penalties relating to uncertain tax positions	52	52
Reconciliation of Unrecognized Tax Benefits
Balance, at beginning of the year		341	327
Increase for interest and penalties		13	14
Decrease for lapses of statute of limitations		(29)
Balance, at end of year	325	$ 325	341
Minimum
Net operating loss carryforwards
Period subject to examination by major taxing jurisdictions		2 years
Maximum
Net operating loss carryforwards
Period subject to examination by major taxing jurisdictions		6 years
Federal and state
Net operating loss carryforwards
Net operating loss carryforwards, amount	5,996	$ 5,996
Foreign | Canada
Net operating loss carryforwards
Net operating loss carryforwards, amount	1,470	1,470
Foreign | Australia
Net operating loss carryforwards
Net operating loss carryforwards, amount	328	328
Foreign | Israel
Net operating loss carryforwards
Net operating loss carryforwards, amount	2,655	2,655
Foreign | United Kingdom
Net operating loss carryforwards
Net operating loss carryforwards, amount	564	564
State and foreign
Net operating loss carryforwards
Valuation Allowance	$ 1,907	$ 1,907	$ 1,357

SHARE BASED COMPENSATION - Summ

SHARE BASED COMPENSATION - Summary of Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Mar. 04, 2017
SHARE BASED COMPENSATION
Share-based compensation expense	$ 494	$ 482
2006 Plan
SHARE BASED COMPENSATION
Number of shares authorized under the plan			3,000,000
Shares available to grant	0
2012 Plan
SHARE BASED COMPENSATION
Number of shares authorized under the plan	1,700,000
Shares available to grant	1,338,583

SHARE BASED COMPENSATION - Stoc

SHARE BASED COMPENSATION - Stock Options (Details) - Stock options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Weighted average assumptions
Expected life (in years)	4 years 10 months 24 days	5 years 1 month 6 days
Risk-free interest rate (as a percent)	1.90%	1.30%
Volatility (as a percent)	71.40%	70.80%
Dividend yield (as a percent)	0.00%	0.00%
Forfeiture rate (as a percent)	22.60%	21.00%
Additional information
Weighted-average grant date fair value of options granted (in dollars per share)	$ 1.16	$ 0.92
Total grant date fair value (in dollars)	$ 453	$ 316
Outstanding stock options expected to vest (in shares)	871,062
Intrinsic value of options exercised	$ 3	$ 0
Number Of Shares
Outstanding at beginning of year (in shares)	1,023,825
Granted (in shares)	390,500	343,300
Exercised (in shares)	4,500
Canceled (in shares)	357,799
Outstanding at end of year (in shares)	1,052,026	1,023,825
Options exercisable end of year	416,030
Weighted-Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 2.93
Granted (in dollars per share)	1.97
Exercised (in dollars per share)	1.29
Canceled (in dollars per share)	3.69
Outstanding at end of year (in dollars per share)	2.32	$ 2.93
Options exercisable at the end of the year (in dollars per share)	$ 2.95

SHARE BASED COMPENSATION - St44

SHARE BASED COMPENSATION - Stock Options by Exercise Price (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Options Outstanding
Number Outstanding (in shares)	1,052,026
Remaining Contractual Life	7 years 2 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 2.32
Options Exercisable
Number Exercisable (in shares)	416,030
Remaining Contractual Life	4 years 9 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 2.95
$1.29 - $2.00
Stock Options
Exercise price, low end of range (in dollars per share)	1.29
Exercise price, high end of range (in dollars per share)	$ 2
Options Outstanding
Number Outstanding (in shares)	650,000
Remaining Contractual Life	8 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$ 1.79
Options Exercisable
Number Exercisable (in shares)	109,004
Remaining Contractual Life	7 years 4 months 24 days
Weighted Average Exercise Price (in dollars per share)	$ 1.67
$2.01 - $3.00
Stock Options
Exercise price, low end of range (in dollars per share)	2.01
Exercise price, high end of range (in dollars per share)	$ 3
Options Outstanding
Number Outstanding (in shares)	275,000
Remaining Contractual Life	5 years
Weighted Average Exercise Price (in dollars per share)	$ 2.35
Options Exercisable
Number Exercisable (in shares)	185,000
Remaining Contractual Life	3 years 7 months 6 days
Weighted Average Exercise Price (in dollars per share)	$ 2.29
$3.01 - $4.00
Stock Options
Exercise price, low end of range (in dollars per share)	3.01
Exercise price, high end of range (in dollars per share)	$ 4
Options Outstanding
Number Outstanding (in shares)	63,250
Remaining Contractual Life	5 years 10 months 24 days
Weighted Average Exercise Price (in dollars per share)	$ 3.30
Options Exercisable
Number Exercisable (in shares)	58,250
Remaining Contractual Life	5 years 9 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 3.32
$4.01 - $6.00
Stock Options
Exercise price, low end of range (in dollars per share)	4.01
Exercise price, high end of range (in dollars per share)	$ 6
Options Outstanding
Number Outstanding (in shares)	14,076
Remaining Contractual Life	4 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 5.52
Options Exercisable
Number Exercisable (in shares)	14,076
Remaining Contractual Life	4 years 3 months 18 days
Weighted Average Exercise Price (in dollars per share)	$ 5.52
$6.01 - $8.00
Stock Options
Exercise price, low end of range (in dollars per share)	6.01
Exercise price, high end of range (in dollars per share)	$ 8
Options Outstanding
Number Outstanding (in shares)	49,700
Remaining Contractual Life	3 years
Weighted Average Exercise Price (in dollars per share)	$ 7.04
Options Exercisable
Number Exercisable (in shares)	49,700
Remaining Contractual Life	3 years
Weighted Average Exercise Price (in dollars per share)	$ 7.04
Stock options
Share based compensation, additional information
Aggregate intrinsic value of options outstanding	$ 5	$ 9
Aggregate intrinsic value of options exercisable	5	$ 9
Unrecognized compensation cost	$ 364
Weighted average vesting period for recognition of unrecognized cost	2 years 8 months 12 days

SHARE BASED COMPENSATION - Rest

SHARE BASED COMPENSATION - Restricted Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 13, 2016	Dec. 30, 2017	Dec. 31, 2016
Additional disclosures
Share-based compensation expense		$ 494	$ 482
Restricted Stock Awards
SHARE BASED COMPENSATION
Required payment from grantee		$ 0
Number of Shares
Non Vested restricted stock awards at the beginning of the year (in shares)		268,432
Granted (in shares)		234,000
Vested (in shares)		126,591
Forfeited (in shares)		44,325
Non Vested restricted stock awards at the end of the year (in shares)		331,516	268,432
Grant Date Fair Value
Non Vested restricted stock awards at the beginning of the year (in dollars per share)		$ 1.96
Granted (in dollars per share)		1.86
Vested (in dollars per share)		1.94
Forfeited (in dollars per share)		2.05
Non Vested restricted stock awards at the end of the year (in dollars per share)		$ 1.88	$ 1.96
Additional disclosures
Unrecognized compensation cost		$ 314
Weighted average vesting period for recognition of unrecognized cost		2 years 7 months 6 days
Chairman of the Board | Restricted Stock Units
Additional disclosures
Share-based compensation expense			$ 26
Chief Executive Officer | Restricted Stock Units
Number of Shares
Granted (in shares)	100,000

PROFIT SHARING PLAN (Details)

PROFIT SHARING PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
PROFIT SHARING PLAN
Matching expense	$ 386	$ 356

MAJOR CUSTOMERS (Details)

MAJOR CUSTOMERS (Details) - Sales - Customer concentration risk - customer	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Major customers
Number of significant customers	7	7
Percentage of concentration risk	77.00%	75.00%
Number of customers individually representing more than 10% of sales	4	4
Amazon.com
Major customers
Percentage of concentration risk	25.00%	20.00%
Babies R Us/Toys R Us
Major customers
Percentage of concentration risk	17.00%	20.00%
Walmart
Major customers
Percentage of concentration risk	16.00%	15.00%
Target
Major customers
Percentage of concentration risk	11.00%	11.00%

COMMITMENTS AND CONTINGENCIES48

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2017	Sep. 30, 2010	Dec. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Lease Commitments
Rent expense (excluding taxes, fees and other charges)			$ 2,654	$ 2,692
Future minimum rental payments due
2,018			2,561
2,019			2,625
2,020			2,554
2,021			2,045
2022 and beyond			478
Total			10,263
Summer Infant (USA), Inc.
Royalty Commitments
Royalty expense			69	$ 315
Summer Infant (USA), Inc. | Warehouse
Lease Commitments
Term of lease		72 months
Amount of monthly rent payments in the current year			170
Amount of future monthly rent payments over remainder of the lease			186
Summer Infant Europe Limited
Employment Contracts
Termination benefit provisions			$ 0
Summer Infant Europe Limited | Minimum
Employment Contracts
Employer's contribution as a percentage of employee's annual salary			1.00%
Summer Infant Europe Limited | Maximum
Employment Contracts
Employer's contribution as a percentage of employee's annual salary			7.00%
Summer Infant Europe Limited | Office
Lease Commitments
Term of lease			5 years
Amount of monthly rent payments in the current year			$ 6
Summer Infant Canada, Ltd. | Office and warehouse
Lease Commitments
Term of lease			5 years
Amount of monthly rent payments in the current year			$ 25
Number of additional periods for which the lease can be renewed | item			1
Lease renewal term			5 years
Summer Infant Asia | Office
Lease Commitments
Term of lease	2 years
Amount of monthly rent payments in the current year			$ 10

GEOGRAPHICAL INFORMATION (Detai

GEOGRAPHICAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Geographical information
Net revenue	$ 189,869	$ 194,328
Total assets	98,030	101,737
Long lived assets	25,724	28,724
United States
Geographical information
Net revenue	157,159	163,381
Total assets	82,851	84,519
Long lived assets	22,763	24,512
All Other
Geographical information
Net revenue	32,710	30,947
Total assets	15,179	17,218
Long lived assets	$ 2,961	$ 4,212