Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Oct. 05, 2013 | Nov. 01, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'ESCALADE INC | ' |
Entity Central Index Key | '0000033488 | ' |
Current Fiscal Year End Date | '--12-29 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'ESCA | ' |
Entity Common Stock, Shares Outstanding | ' | 13,538,473 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 5-Oct-13 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
CONSOLIDATED_CONDENSED_BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS (USD $) | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Cash and cash equivalents | $1,801 | $2,544 | $3,255 |
Time deposits | 2,320 | 1,200 | 1,200 |
Receivables, less allowance of $1,124; $1,096; and $979; respectively | 34,367 | 33,496 | 27,379 |
Inventories | 40,656 | 30,864 | 37,968 |
Prepaid expenses | 1,433 | 1,308 | 1,279 |
Deferred income tax benefit | 1,478 | 1,553 | 1,288 |
TOTAL CURRENT ASSETS | 82,055 | 70,965 | 72,369 |
Property, plant and equipment, net | 14,744 | 12,281 | 12,095 |
Intangible assets | 11,415 | 12,919 | 12,175 |
Goodwill | 12,017 | 12,017 | 12,017 |
Investments | 18,232 | 17,487 | 15,505 |
Other assets | 147 | 71 | 26 |
TOTAL ASSETS | 138,610 | 125,740 | 124,187 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' |
Notes payable | 18,785 | 17,070 | 14,033 |
Current portion of long-term debt | 1,563 | 2,000 | 2,000 |
Trade accounts payable | 6,470 | 3,946 | 7,089 |
Accrued liabilities | 17,103 | 15,274 | 14,222 |
Income tax payable | 272 | 19 | 3,318 |
TOTAL CURRENT LIABILITIES | 44,193 | 38,309 | 40,662 |
Other Liabilities: | ' | ' | ' |
Long-term debt | 5,196 | 3,500 | 3,500 |
Deferred income tax liability | 3,774 | 3,474 | 2,723 |
TOTAL LIABILITIES | 53,163 | 45,283 | 46,885 |
Stockholders' Equity | ' | ' | ' |
Preferred stock: Authorized 1,000,000 shares; no par value, none issued | ' | ' | ' |
Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding - 13,533,183; 13,427,339; and 13,413,094; shares respectively | 13,533 | 13,427 | 13,413 |
Retained earnings | 66,952 | 62,937 | 59,923 |
Accumulated other comprehensive income | 4,962 | 4,093 | 3,966 |
TOTAL SHAREHOLDERS' EQUITY | 85,447 | 80,457 | 77,302 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $138,610 | $125,740 | $124,187 |
CONSOLIDATED_CONDENSED_BALANCE1
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $) | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Receivables allowance (in dollars) | $1,124 | $1,096 | $979 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Common stock, shares authorized | 30,000,000 | 30,000,000 | 30,000,000 |
Common stock, shares issued | 13,533,183 | 13,427,339 | 13,413,094 |
Common stock, shares outstanding | 13,533,183 | 13,427,339 | 13,413,094 |
CONSOLIDATED_CONDENSED_STATEME
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 |
Net sales | $38,482 | $34,206 | $117,305 | $106,800 |
Costs, expenses and other income: | ' | ' | ' | ' |
Cost of products sold | 26,945 | 23,249 | 79,210 | 72,943 |
Selling, general and administrative expenses | 7,748 | 7,466 | 24,646 | 23,729 |
Goodwill and intangible asset impairment charges | 0 | 13,362 | 0 | 13,362 |
Amortization | 544 | 516 | 1,819 | 1,722 |
Operating income (Loss) | 3,245 | -10,387 | 11,630 | -4,956 |
Interest expense, net | -176 | -144 | -596 | -490 |
Other income | 931 | 919 | 867 | 1,331 |
Equity method investment impairment | 0 | -382 | 0 | -382 |
Income (Loss) before income taxes | 4,000 | -9,994 | 11,901 | -4,497 |
Provision for income taxes | 1,487 | 1,509 | 5,146 | 4,343 |
Net income (Loss) | $2,513 | ($11,503) | $6,755 | ($8,840) |
Per share data: | ' | ' | ' | ' |
Basic earnings (loss) per share (in dollars per share) | $0.19 | ($0.86) | $0.50 | ($0.67) |
Diluted earnings (loss) per share (in dollars per share) | $0.18 | ($0.85) | $0.50 | ($0.66) |
Dividends declared (in dollars per share) | $0.09 | $0.08 | $0.25 | $0.23 |
CONSOLIDATED_CONDENSED_STATEME1
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME(LOSS) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 |
Net income (Loss) | $2,513 | ($11,503) | $6,755 | ($8,840) |
Foreign currency translation adjustment | 1,137 | 1,877 | 869 | 633 |
Comprehensive income (loss) | $3,650 | ($9,626) | $7,624 | ($8,207) |
CONSOLIDATED_CONDENSED_STATEME2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 |
Operating Activities: | ' | ' |
Net income (loss) | $6,755 | ($8,840) |
Depreciation and amortization | 3,349 | 3,380 |
Goodwill and intangible asset impairment charges | 0 | 13,362 |
Stock-based compensation | 439 | 432 |
Equity method investment impairment charges | 0 | 382 |
Loss on disposal of property and equipment | 11 | 18 |
Adjustments necessary to reconcile net income (loss) to net cash used by operating activities | -5,976 | -1,463 |
Net cash provided by operating activities | 4,578 | 7,271 |
Investing Activities: | ' | ' |
Purchase of property and equipment | -1,873 | -1,831 |
Purchase of short-term time deposits | -1,820 | -250 |
Proceeds from disposal of short-term time deposits | 700 | 0 |
Proceeds from sale of property and equipment | 2 | 5 |
Net cash used by investing activities | -2,991 | -2,076 |
Financing Activities: | ' | ' |
Dividends paid | -3,382 | -3,965 |
Principal payment on long-term debt | -2,041 | -1,500 |
Net increase (decrease) in overdraft facility | -1,831 | 113 |
Net increase (decrease) in notes payable | 3,546 | -1,027 |
Proceeds from restated credit agreement | 1,000 | 0 |
Proceeds from exercise of stock options | 168 | 438 |
Director stock compensation | 139 | 150 |
Net cash used by financing activities | -2,401 | -5,791 |
Effect of exchange rate changes on cash | 71 | 30 |
Net decrease in cash and cash equivalents | -743 | -566 |
Cash and cash equivalents, beginning of period | 2,544 | 3,821 |
Cash and cash equivalents, end of period | 1,801 | 3,255 |
Supplemental Cash Flows Information | ' | ' |
Seller note issued in purchase of real estate | $2,300 | $0 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 05, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
Note A – Summary of Significant Accounting Policies | |
Presentation of Consolidated Condensed Financial Statements – The significant accounting policies followed by the Company and its wholly owned subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments that are of a normal recurring nature and are in the opinion of management necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated condensed financial statements. The consolidated condensed balance sheet of the Company as of December 29, 2012 has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2012 filed with the Securities and Exchange Commission. | |
Seasonal_Aspects
Seasonal Aspects | 9 Months Ended |
Oct. 05, 2013 | |
Accounting Policies [Abstract] | ' |
Seasonal Aspects [Text Block] | ' |
Note B - Seasonal Aspects | |
The results of operations for the three and nine month periods ended October 5, 2013 and October 6, 2012 are not necessarily indicative of the results to be expected for the full year. | |
Inventories
Inventories | 9 Months Ended | ||||||||||
Oct. 05, 2013 | |||||||||||
Inventory Disclosure [Abstract] | ' | ||||||||||
Inventory Disclosure [Text Block] | ' | ||||||||||
Note C - Inventories | |||||||||||
October 5, | December | October 6, | |||||||||
In thousands | 2013 | 29, 2012 | 2012 | ||||||||
Raw materials | $ | 8,619 | $ | 8,330 | $ | 8,949 | |||||
Work in progress | 5,177 | 4,247 | 4,697 | ||||||||
Finished goods | 26,860 | 18,287 | 24,322 | ||||||||
$ | 40,656 | $ | 30,864 | $ | 37,968 | ||||||
Equity_Interest_Investments
Equity Interest Investments | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||||
Equity Method Investments Disclosure [Text Block] | ' | |||||||||||||
Note D – Equity Interest Investments | ||||||||||||||
The Company has a 50% interest in a joint venture, Stiga Sports AB (Stiga). The joint venture is accounted for under the equity method of accounting. Stiga, located in Sweden, is a global sporting goods company producing table tennis equipment and game products including winter sport equipment. Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using exchange rates in effect at the respective period-end for balance sheet amounts, and using average exchange rates for statement of operations amounts. Certain differences exist between U.S. GAAP and local GAAP in Sweden, and the impact of these differences is not reflected in the summarized information reflected in the table below. The most significant difference relates to the accounting for goodwill for Stiga which is amortized over eight years in Sweden but is not amortized for U.S. GAAP reporting purposes. The effect on Stiga’s net assets resulting from the amortization of goodwill for the periods ended October 5, 2013 and October 6, 2012 are addbacks to Stiga’s consolidated financial information of $13.0 million and $10.9 million, respectively. These net differences are comprised of cumulative goodwill adjustments of $18.2 million offset by the related cumulative tax effect of $5.2 million as of October 5, 2013 and cumulative goodwill adjustments of $15.2 million offset by the related cumulative tax effect of $4.3 million as of October 6, 2012. The statement of operations impact of these goodwill and tax adjustments and other individually insignificant U.S. GAAP adjustments for the periods ended October 5, 2013, and October 6, 2012 are to increase Stiga’s net income by approximately $1.2 million and $1.3 million, respectively. The Company’s 50% portion of net income for Stiga for the periods ended October 5, 2013 and October 6, 2012 was $1.3 million and $1.4 million, respectively, and is included in other income on the Company’s statements of operations. | ||||||||||||||
In addition, Escalade has a 50% interest in two joint ventures, Escalade International, Ltd. in the United Kingdom, and Neoteric Industries Inc. in Taiwan. Escalade International Ltd. was a sporting goods wholesaler, specializing in fitness equipment. During the second quarter of 2013, the decision was made to cease operations and liquidate Escalade International, Ltd. Losses incurred include shutdown costs. As a result, the Company’s 50% portion of net loss for Escalade International, Ltd. for the nine months ended October 5, 2013 and October 6, 2012 was ($609) thousand and ($137) thousand respectively, and is included in other income (expense) on the Company’s statements of operations. The losses incurred during 2013 reduce to zero the Company’s investment in Escalade International, Ltd. The income and assets of Neoteric have no impact on the Company’s financial reporting. Additional information regarding these entities is considered immaterial and has not been included in the totals listed below. | ||||||||||||||
Summarized financial information for Stiga Sports AB balance sheets as of October 5, 2013, December 29, 2012, and October 6, 2012 and statements of operations for the periods ended October 5, 2013 and October 6, 2012 is as follows: | ||||||||||||||
October 5, | December 29, | October 6, | ||||||||||||
In thousands | 2013 | 2012 | 2012 | |||||||||||
Current assets | $ | 29,894 | $ | 28,538 | $ | 24,086 | ||||||||
Non-current assets | 10,075 | 8,065 | 8,419 | |||||||||||
Total assets | 39,969 | 36,603 | 32,505 | |||||||||||
Current liabilities | 12,358 | 10,850 | 9,389 | |||||||||||
Non-current liabilities | 5,454 | 4,487 | 5,105 | |||||||||||
Total liabilities | 17,812 | 15,337 | 14,494 | |||||||||||
Net assets | $ | 22,157 | $ | 21,266 | $ | 18,011 | ||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
October 5, | October 6, | October 5, | October 6, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net sales | $ | 11,520 | $ | 11,148 | $ | 26,285 | $ | 23,923 | ||||||
Gross profit | 5,957 | 5,800 | 13,412 | 12,212 | ||||||||||
Net income | 1,471 | 1,829 | 1,475 | 1,609 | ||||||||||
Notes_Payable
Notes Payable | 9 Months Ended |
Oct. 05, 2013 | |
Debt Disclosure [Abstract] | ' |
Debt Disclosure [Text Block] | ' |
Note E – Notes Payable | |
On August 27, 2013, the Company and each of its domestic subsidiaries entered into a First Amended and Restated Credit Agreement (“Restated Credit Agreement”) with its issuing bank, JPMorgan Chase Bank, N.A. (“Chase”), and the other lenders identified in the Restated Credit Agreement (collectively, the “Lender”). The Restated Credit Agreement amends and restates the existing Credit Agreement dated as of April 30, 2009, as amended by the Amendments First through Tenth, between the Company and the Lender. | |
Under the terms of the Restated Credit Agreement, the Lender has made available to the Company a senior revolving credit facility in the maximum amount of up to $22.0 million (“Revolving USD Facility”) and a term loan in the principal amount of $5.0 million (“Term Loan”). Escalade is required to repay the outstanding principal balance of the Revolving USD Facility, including all accrued and unpaid interest thereon, on August 27, 2016. Escalade may prepay the Revolving USD Facility, in whole or in part, and reborrow prior to the maturity date. The Company is required to repay the outstanding principal balance of the Term Loan, including all accrued and unpaid interest thereon, on August 27, 2016. Beginning with the calendar quarter ending September 30, 2013, the Company is required to make repayments of the principal balance of the Term Loan in equal installments of $250 thousand per calendar quarter, with interest accrued thereon. Principal amounts repaid in respect of the Term Loan may not be re-borrowed. In addition, the Euro overdraft facility has been reduced from €2.0 million to €1.0 million. The credit facility and term debt are secured by substantially all assets of the Company. | |
During the first quarter, the Company entered into a seller-financed agreement for the purchase of its formerly leased real estate in Mexico. The agreement requires sixteen quarterly installments of $156 thousand each with a maturity date of November 30, 2016. The outstanding principal balance as of October 5, 2013 was $1.8 million. | |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||
Oct. 05, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure [Text Block] | ' | |||||||
Note F – Income Taxes | ||||||||
The provision for income taxes was computed based on financial statement income. In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, the Company has recorded the following changes in uncertain tax positions: | ||||||||
Nine Months Ended | ||||||||
October 5, | October 6, | |||||||
In thousands | 2013 | 2012 | ||||||
Beginning Balance | $ | — | $ | 46 | ||||
Additions for current year tax positions | — | — | ||||||
Additions for prior year tax positions | — | — | ||||||
Settlements | — | — | ||||||
Reductions settlements | — | — | ||||||
Reductions for prior year tax positions | — | — | ||||||
Ending Balance | $ | — | $ | 46 | ||||
Fair_Values_of_Financial_Instr
Fair Values of Financial Instruments | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||
Note G – Fair Values of Financial Instruments | ||||||||||||||
The following methods were used to estimate the fair value of all financial instruments recognized in the accompanying balance sheets at amounts other than fair values. | ||||||||||||||
Cash and Cash Equivalents and Time Deposits | ||||||||||||||
Fair values of cash and cash equivalents and time deposits approximate cost due to the short period of time to maturity. | ||||||||||||||
Notes Payable and Long-term Debt | ||||||||||||||
Fair values of notes payable and long-term debt is estimated based on borrowing rates currently available to the Company for bank loans with similar terms and maturities and determined through the use of a discounted cash flow model. | ||||||||||||||
The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 at October 5, 2013 and October 6, 2012. | ||||||||||||||
Fair Value Measurements Using | ||||||||||||||
October 5, 2013 | Carrying | Quoted | Significant | Significant | ||||||||||
In thousands | Amount | Prices in | Other | Unobservable | ||||||||||
Active | Observable | Inputs | ||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||
for | (Level 2) | |||||||||||||
Identical | ||||||||||||||
Assets | ||||||||||||||
(Level 1) | ||||||||||||||
Financial assets | ||||||||||||||
Cash and cash equivalents | $ | 1,801 | $ | 1,801 | $ | — | $ | — | ||||||
Time deposits | $ | 2,320 | $ | 2,320 | $ | — | $ | — | ||||||
Financial liabilities | ||||||||||||||
Notes payable | $ | 18,785 | $ | — | $ | 18,785 | $ | — | ||||||
Current portion of | $ | 1,563 | $ | — | $ | 1,563 | $ | — | ||||||
Long-term debt | ||||||||||||||
Long-term debt | $ | 5,196 | $ | — | $ | 5,196 | $ | — | ||||||
Fair Value Measurements Using | ||||||||||||||
October 6, 2012 | Carrying | Quoted | Significant | Significant | ||||||||||
In thousands | Amount | Prices in | Other | Unobservable | ||||||||||
Active | Observable | Inputs | ||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||
for | (Level 2) | |||||||||||||
Identical | ||||||||||||||
Assets | ||||||||||||||
(Level 1) | ||||||||||||||
Financial assets | ||||||||||||||
Cash and cash equivalents | $ | 3,255 | $ | 3,255 | $ | — | $ | — | ||||||
Time deposits | $ | 1,200 | $ | 1,200 | $ | — | $ | — | ||||||
Financial liabilities | ||||||||||||||
Notes payable | $ | 14,033 | $ | — | $ | 14,033 | $ | — | ||||||
Current portion of | $ | 2,000 | $ | — | $ | 2,000 | $ | — | ||||||
Long-term debt | ||||||||||||||
Long-term debt | $ | 3,500 | $ | — | $ | 3,500 | $ | — | ||||||
The outstanding balance of the euro overdraft facility is included in Notes payable. For the periods ended October 5, 2013, December 29, 2012, and October 6, 2012, the balance of the euro overdraft facility was $0.6 million, $2.5 million, and $2.4 million, respectively. | ||||||||||||||
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheet, as well as the general classification of such assets pursuant to the valuation hierarchy. | ||||||||||||||
Goodwill and Other Intangible Assets | ||||||||||||||
During the third quarter of fiscal 2012, the Company determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment analysis for the Martin Yale Group reporting unit, which comprises the Information Security and Print Finishing operating segment. For purposes of the interim impairment testing in the third quarter of 2012, the fair value of the Martin Yale Group reporting unit was determined using a combination of two methods; one based on market earnings multiples of peer companies identified for the business unit (the market approach), and a discounted cash flow model with estimates of cash flows based on internal forecasts of revenues and expenses over a five year period plus a terminal value period (the income approach). | ||||||||||||||
To arrive at the Martin Yale Group reporting unit’s future cash flows, the Company uses estimates of economic and market information, including growth rates in revenues, costs, and estimates of future expected changes in operating margins, tax rates, and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures, and changes in future working capital requirements. Under the income approach, the Company applied a risk-adjusted discount rate of 11.2% to the future cash flows from the Martin Yale Group reporting unit. In addition to the earnings multiples and the discount rates disclosed above, certain other judgments and estimates are used to prepare the goodwill impairment test. | ||||||||||||||
The fair values of the intangible assets for the Martin Yale Group reporting unit were estimated considering estimated royalty savings, discounted cash flows and average attrition rates associated with these assets. | ||||||||||||||
As a result of the impairment tests performed, the goodwill of the Martin Yale Group reporting unit was written down to the implied fair value of zero from its carrying value of $13.2 million as of October 6, 2012. The intangible assets of this reporting unit were written down to their estimated fair value of $1.7 million from their carrying value of $1.9 million as of October 6, 2012. Because of the significance of the unobservable inputs and management judgment used in the goodwill and intangible asset impairment analyses, these measurements were classified in level three of the valuation hierarchy. | ||||||||||||||
Equity Method Investments | ||||||||||||||
For purposes of the impairment analysis of the equity method investment in Escalade International, Ltd, the Company considered the impact of attrition of certain significant customers on future cash flows of this entity as well as expectations regarding future divestiture of the investment. At the end of the third quarter of 2012 the Company was negotiating to sell its investment to the remaining shareholders of Escalade International, Ltd. Based on consideration of cash flows related to the potential divestiture, the Company determined that an other than temporary impairment in the amount of $0.4 million ($0.2 million, net of tax) was appropriate. Consequently, the investment was written down to its estimated fair value of $0.5 million from its carrying value of $0.9 million as of October 6, 2012. Because of the significance of the unobservable inputs and management judgment used in the equity method impairment analysis, this measurement was classified in level three of the valuation hierarchy. | ||||||||||||||
Stock_Compensation
Stock Compensation | 9 Months Ended |
Oct. 05, 2013 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
Note H – Stock Compensation | |
The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation. | |
During the nine months ended October 5, 2013 and pursuant to the 2007 Incentive Plan, in lieu of director fees, the Company awarded to certain directors 23,719 shares of common stock. In addition, the Company awarded 37,500 stock options to directors and 120,000 stock options to employees. The stock options awarded to directors vest at the end of one year and have an exercise price equal to the market price on the date of grant. Director stock options are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. The 2013 stock options awarded to employees have a graded vesting of 25% per year over four years and are subject to forfeiture if on the vesting date the employee is no longer employed. The Company utilizes the Black-Scholes option pricing model to determine the fair value of stock options granted. | |
For the three months and nine months ended October 5, 2013, the Company recognized stock based compensation expense of $177 thousand and $578 thousand, respectively, compared to stock based compensation expense of $176 thousand and $582 thousand for the same periods in the prior year. At October 5, 2013 and October 6, 2012, respectively, there was $0.9 million and $1.1 million in unrecognized stock-based compensation expense related to non-vested stock awards. | |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||
Note I - Segment Information | ||||||||||||||
For the Three Months | ||||||||||||||
Ended October 5, 2013 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 31,559 | $ | 6,923 | $ | — | $ | 38,482 | ||||||
Operating income (loss) | 4,679 | -741 | -693 | 3,245 | ||||||||||
Net income (loss) | 2,813 | -862 | 562 | 2,513 | ||||||||||
As of and for the Nine Months | ||||||||||||||
Ended October 5, 2013 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 94,827 | $ | 22,478 | $ | — | $ | 117,305 | ||||||
Operating income (loss) | 15,782 | -1,863 | -2,289 | 11,630 | ||||||||||
Net income (loss) | 9,477 | -2,712 | -10 | 6,755 | ||||||||||
Total assets | $ | 90,189 | $ | 24,572 | $ | 23,849 | $ | 138,610 | ||||||
For the Three Months | ||||||||||||||
Ended October 6, 2012 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 25,636 | $ | 8,570 | $ | — | $ | 34,206 | ||||||
Operating income (loss) | 3,640 | -13,378 | -649 | -10,387 | ||||||||||
Net income (loss) | 2,178 | -13,830 | 149 | -11,503 | ||||||||||
As of and for the Nine Months | ||||||||||||||
Ended October 6, 2012 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 79,282 | $ | 27,518 | $ | — | $ | 106,800 | ||||||
Operating income (loss) | 11,088 | -13,885 | -2,159 | -4,956 | ||||||||||
Net income (loss) | 6,600 | -14,938 | -502 | -8,840 | ||||||||||
Total assets | $ | 77,903 | $ | 26,882 | $ | 19,402 | $ | 124,187 | ||||||
Dividend_Payment
Dividend Payment | 9 Months Ended |
Oct. 05, 2013 | |
Accounting Policies [Abstract] | ' |
Dividend Payment Terms [Text Block] | ' |
Note J – Dividend Payment | |
On September 20, 2013, the Company paid a quarterly dividend of $0.09 per common share to all shareholders of record on September 13, 2013. The total amount of this dividend payment was $1.2 million and was charged against retained earnings. | |
On June 20, 2013, the Company paid a quarterly dividend of $0.08 per common share to all shareholders of record on June 13, 2013. The total amount of this dividend payment was $1.1 million and was charged against retained earnings. | |
On March 20, 2013, the Company paid a quarterly dividend of $0.08 per common share to all shareholders of record on March 13, 2013. The total amount of the dividend was $1.1 million and was charged against retained earnings. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
Note K - Earnings Per Share | ||||||||||||||
The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
All amounts in thousands | October 5, | October 6, | October 5, | October 6, | ||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Weighted average common shares | 13,520 | 13,391 | 13,484 | 13,189 | ||||||||||
outstanding | ||||||||||||||
Dilutive effect of stock options | 179 | 165 | 148 | 163 | ||||||||||
and restricted stock units | ||||||||||||||
Weighted average common shares | 13,699 | 13,556 | 13,632 | 13,352 | ||||||||||
outstanding, assuming dilution | ||||||||||||||
Stock options that are anti-dilutive as to earnings per share and unvested restricted stock units which have a market condition for vesting that has not been achieved are ignored in the computation of dilutive earnings per share. The number of stock options and restricted stock units that were excluded in 2013 and 2012 were 522,750 and 454,500, respectively. | ||||||||||||||
New_Accounting_Standards
New Accounting Standards | 9 Months Ended |
Oct. 05, 2013 | |
New Accounting Pronouncements and Changes In Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
Note L – New Accounting Standards | |
With the exception of that discussed below, there have been no recent accounting pronouncements or changes in accounting pronouncements during the nine months ended October 5, 2013, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2012, that are of significance, or potential significance to the Company. | |
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740), which clarifies the presentation requirements of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 and should be applied prospectively. The adoption of this ASU is not expected to have a material impact to the Company’s consolidated financial statements. | |
In February 2013, FASB issued Accounting Standards Update 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income to improve the transparency of reporting these reclassifications. Other comprehensive income (loss) includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in this ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to (i) present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and (ii) cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items to be reclassified directly to net income in their entirety in the same reporting period. The amendments are effective for interim and annual reporting periods beginning after December 15, 2012. The adoption of this standard did not have a material impact to the Company’s consolidated financial statements. | |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 05, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
Note M – Commitments and Contingencies | |
The Company is involved in litigation arising in the normal course of business. The Company does not believe that the disposition or ultimate resolution of existing claims or lawsuits will have a material adverse effect on the business or financial condition of the Company. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 05, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation, Policy [Policy Text Block] | ' |
Presentation of Consolidated Condensed Financial Statements – The significant accounting policies followed by the Company and its wholly owned subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments that are of a normal recurring nature and are in the opinion of management necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated condensed financial statements. The consolidated condensed balance sheet of the Company as of December 29, 2012 has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for 2012 filed with the Securities and Exchange Commission. | |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||||
Oct. 05, 2013 | |||||||||||
Inventory Disclosure [Abstract] | ' | ||||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||||
October 5, | December | October 6, | |||||||||
In thousands | 2013 | 29, 2012 | 2012 | ||||||||
Raw materials | $ | 8,619 | $ | 8,330 | $ | 8,949 | |||||
Work in progress | 5,177 | 4,247 | 4,697 | ||||||||
Finished goods | 26,860 | 18,287 | 24,322 | ||||||||
$ | 40,656 | $ | 30,864 | $ | 37,968 | ||||||
Equity_Interest_Investments_Ta
Equity Interest Investments (Tables) | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||||
Schedule of Joint Ventures Balance Sheet Information [Table Text Block] | ' | |||||||||||||
Summarized financial information for Stiga Sports AB balance sheets as of October 5, 2013, December 29, 2012, and October 6, 2012 and statements of operations for the periods ended October 5, 2013 and October 6, 2012 is as follows: | ||||||||||||||
October 5, | December 29, | October 6, | ||||||||||||
In thousands | 2013 | 2012 | 2012 | |||||||||||
Current assets | $ | 29,894 | $ | 28,538 | $ | 24,086 | ||||||||
Non-current assets | 10,075 | 8,065 | 8,419 | |||||||||||
Total assets | 39,969 | 36,603 | 32,505 | |||||||||||
Current liabilities | 12,358 | 10,850 | 9,389 | |||||||||||
Non-current liabilities | 5,454 | 4,487 | 5,105 | |||||||||||
Total liabilities | 17,812 | 15,337 | 14,494 | |||||||||||
Net assets | $ | 22,157 | $ | 21,266 | $ | 18,011 | ||||||||
Schedule of Joint Ventures Income Statement Information [Table Text Block] | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
October 5, | October 6, | October 5, | October 6, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net sales | $ | 11,520 | $ | 11,148 | $ | 26,285 | $ | 23,923 | ||||||
Gross profit | 5,957 | 5,800 | 13,412 | 12,212 | ||||||||||
Net income | 1,471 | 1,829 | 1,475 | 1,609 | ||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||
Oct. 05, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule Of Uncertain Tax Benefits [Table Text Block] | ' | |||||||
The provision for income taxes was computed based on financial statement income. In accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, the Company has recorded the following changes in uncertain tax positions: | ||||||||
Nine Months Ended | ||||||||
October 5, | October 6, | |||||||
In thousands | 2013 | 2012 | ||||||
Beginning Balance | $ | — | $ | 46 | ||||
Additions for current year tax positions | — | — | ||||||
Additions for prior year tax positions | — | — | ||||||
Settlements | — | — | ||||||
Reductions settlements | — | — | ||||||
Reductions for prior year tax positions | — | — | ||||||
Ending Balance | $ | — | $ | 46 | ||||
Fair_Values_of_Financial_Instr1
Fair Values of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||
The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 at October 5, 2013 and October 6, 2012. | ||||||||||||||
Fair Value Measurements Using | ||||||||||||||
October 5, 2013 | Carrying | Quoted | Significant | Significant | ||||||||||
In thousands | Amount | Prices in | Other | Unobservable | ||||||||||
Active | Observable | Inputs | ||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||
for | (Level 2) | |||||||||||||
Identical | ||||||||||||||
Assets | ||||||||||||||
(Level 1) | ||||||||||||||
Financial assets | ||||||||||||||
Cash and cash equivalents | $ | 1,801 | $ | 1,801 | $ | — | $ | — | ||||||
Time deposits | $ | 2,320 | $ | 2,320 | $ | — | $ | — | ||||||
Financial liabilities | ||||||||||||||
Notes payable | $ | 18,785 | $ | — | $ | 18,785 | $ | — | ||||||
Current portion of | $ | 1,563 | $ | — | $ | 1,563 | $ | — | ||||||
Long-term debt | ||||||||||||||
Long-term debt | $ | 5,196 | $ | — | $ | 5,196 | $ | — | ||||||
Fair Value Measurements Using | ||||||||||||||
October 6, 2012 | Carrying | Quoted | Significant | Significant | ||||||||||
In thousands | Amount | Prices in | Other | Unobservable | ||||||||||
Active | Observable | Inputs | ||||||||||||
Markets | Inputs | (Level 3) | ||||||||||||
for | (Level 2) | |||||||||||||
Identical | ||||||||||||||
Assets | ||||||||||||||
(Level 1) | ||||||||||||||
Financial assets | ||||||||||||||
Cash and cash equivalents | $ | 3,255 | $ | 3,255 | $ | — | $ | — | ||||||
Time deposits | $ | 1,200 | $ | 1,200 | $ | — | $ | — | ||||||
Financial liabilities | ||||||||||||||
Notes payable | $ | 14,033 | $ | — | $ | 14,033 | $ | — | ||||||
Current portion of | $ | 2,000 | $ | — | $ | 2,000 | $ | — | ||||||
Long-term debt | ||||||||||||||
Long-term debt | $ | 3,500 | $ | — | $ | 3,500 | $ | — | ||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||
For the Three Months | ||||||||||||||
Ended October 5, 2013 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 31,559 | $ | 6,923 | $ | — | $ | 38,482 | ||||||
Operating income (loss) | 4,679 | -741 | -693 | 3,245 | ||||||||||
Net income (loss) | 2,813 | -862 | 562 | 2,513 | ||||||||||
As of and for the Nine Months | ||||||||||||||
Ended October 5, 2013 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 94,827 | $ | 22,478 | $ | — | $ | 117,305 | ||||||
Operating income (loss) | 15,782 | -1,863 | -2,289 | 11,630 | ||||||||||
Net income (loss) | 9,477 | -2,712 | -10 | 6,755 | ||||||||||
Total assets | $ | 90,189 | $ | 24,572 | $ | 23,849 | $ | 138,610 | ||||||
For the Three Months | ||||||||||||||
Ended October 6, 2012 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 25,636 | $ | 8,570 | $ | — | $ | 34,206 | ||||||
Operating income (loss) | 3,640 | -13,378 | -649 | -10,387 | ||||||||||
Net income (loss) | 2,178 | -13,830 | 149 | -11,503 | ||||||||||
As of and for the Nine Months | ||||||||||||||
Ended October 6, 2012 | ||||||||||||||
In thousands | Sporting | Information | Corp. | Total | ||||||||||
Goods | Security | |||||||||||||
and Print | ||||||||||||||
Finishing | ||||||||||||||
Revenues from external customers | $ | 79,282 | $ | 27,518 | $ | — | $ | 106,800 | ||||||
Operating income (loss) | 11,088 | -13,885 | -2,159 | -4,956 | ||||||||||
Net income (loss) | 6,600 | -14,938 | -502 | -8,840 | ||||||||||
Total assets | $ | 77,903 | $ | 26,882 | $ | 19,402 | $ | 124,187 | ||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||
Oct. 05, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | |||||||||||||
The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
All amounts in thousands | October 5, | October 6, | October 5, | October 6, | ||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Weighted average common shares | 13,520 | 13,391 | 13,484 | 13,189 | ||||||||||
outstanding | ||||||||||||||
Dilutive effect of stock options | 179 | 165 | 148 | 163 | ||||||||||
and restricted stock units | ||||||||||||||
Weighted average common shares | 13,699 | 13,556 | 13,632 | 13,352 | ||||||||||
outstanding, assuming dilution | ||||||||||||||
Inventories_Details
Inventories (Details) (USD $) | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 |
In Thousands, unless otherwise specified | |||
Raw materials | $8,619 | $8,330 | $8,949 |
Work in progress | 5,177 | 4,247 | 4,697 |
Finished goods | 26,860 | 18,287 | 24,322 |
Total Inventory | $40,656 | $30,864 | $37,968 |
Equity_Interest_Investments_De
Equity Interest Investments (Details) (USD $) | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 |
In Thousands, unless otherwise specified | |||
Current assets | $82,055 | $70,965 | $72,369 |
Total assets | 138,610 | 125,740 | 124,187 |
Current liabilities | 44,193 | 38,309 | 40,662 |
Total liabilities | 53,163 | 45,283 | 46,885 |
Stiga Sports AB [Member] | ' | ' | ' |
Current assets | 29,894 | 28,538 | 24,086 |
Non-current assets | 10,075 | 8,065 | 8,419 |
Total assets | 39,969 | 36,603 | 32,505 |
Current liabilities | 12,358 | 10,850 | 9,389 |
Non-current liabilities | 5,454 | 4,487 | 5,105 |
Total liabilities | 17,812 | 15,337 | 14,494 |
Net assets | $22,157 | $21,266 | $18,011 |
Equity_Interest_Investments_De1
Equity Interest Investments (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 |
Net sales | $38,482 | $34,206 | $117,305 | $106,800 |
Net income | 2,513 | -11,503 | 6,755 | -8,840 |
Stiga Sports AB [Member] | ' | ' | ' | ' |
Net sales | 11,520 | 11,148 | 26,285 | 23,923 |
Gross profit | 5,957 | 5,800 | 13,412 | 12,212 |
Net income | $1,471 | $1,829 | $1,475 | $1,609 |
Equity_Interest_Investments_De2
Equity Interest Investments (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | ||
Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 | |
Net Income (Loss) Attributable To Parent | $2,513,000 | ($11,503,000) | $6,755,000 | ($8,840,000) |
Stiga Sports AB [Member] | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | ' | 50.00% | ' |
Amortization Of Goodwill | ' | ' | 13,000,000 | 10,900,000 |
Goodwill, Translation Adjustments | ' | ' | 18,200,000 | 15,200,000 |
Cumulative goodwill adjustments, tax effect | ' | ' | 5,200,000 | 4,300,000 |
Adjustments For Net Income Impact | ' | ' | 1,200,000 | 1,300,000 |
Percentage of Net Income | ' | ' | 50.00% | ' |
Net Income (Loss) Attributable To Parent | ' | ' | 1,300,000 | 1,400,000 |
Escalade International [Member] | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | ' | 50.00% | ' |
Percentage of Net Income | ' | ' | 50.00% | ' |
Net Income (Loss) Attributable To Parent | ' | ' | ($609,000) | ($137,000) |
Notes_Payable_Details_Textual
Notes Payable (Details Textual) | 9 Months Ended | ||
Oct. 05, 2013 | Oct. 05, 2013 | Jul. 13, 2013 | |
USD ($) | EUR (€) | EUR (€) | |
Line of Credit Facility, Maximum Borrowing Capacity | $22,000,000 | ' | ' |
Debt Instrument, Maturity Date | 27-Aug-16 | ' | ' |
Debt Instrument Principal Amount | 5,000,000 | ' | ' |
Debt Instrument, Term Loan Maturity Date | 27-Aug-16 | ' | ' |
Debt Instrument, Periodic Payment | 250,000 | ' | ' |
Bank Overdrafts | ' | 1,000,000 | 2,000,000 |
Seller Financed Arrangement Periodic Payments Principal | 156,000 | ' | ' |
Seller Financed Arrangement Periodic Payments Maturity Date | 30-Nov-16 | ' | ' |
Long-term Debt, Gross | $1,800,000 | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 |
Beginning Balance | $0 | $46 |
Additions for current year tax positions | 0 | 0 |
Additions for prior year tax positions | 0 | 0 |
Settlements | 0 | 0 |
Reductions Settlements | 0 | 0 |
Reductions for prior year tax positions | 0 | 0 |
Ending Balance | $0 | $46 |
Fair_Values_of_Financial_Instr2
Fair Values of Financial Instruments (Details) (USD $) | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial assets, Carrying Amount | ' | ' | ' | ' |
Cash and cash equivalents, Carrying Amount | $1,801 | $2,544 | $3,255 | $3,821 |
Time deposits, Carrying Amount | 2,320 | 1,200 | 1,200 | ' |
Financial liabilities, Carrying Amount | ' | ' | ' | ' |
Notes payable, Carrying Amount | 18,785 | ' | 14,033 | ' |
Current portion of Long-term debt, Carrying Amount | 1,563 | ' | 2,000 | ' |
Long-term debt, Carrying Amount | 5,196 | 3,500 | 3,500 | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial assets, Fair Value | ' | ' | ' | ' |
Cash and Cash Equivalents, Fair Value | 1,801 | ' | 3,255 | ' |
Time deposits, Fair Value | 2,320 | ' | 1,200 | ' |
Financial liabilities, Fair Value | ' | ' | ' | ' |
Notes payable, Fair Value | 0 | ' | 0 | ' |
Current Portion of Long-term Debt, Fair Value | 0 | ' | 0 | ' |
Long-term Debt, Fair Value | 0 | ' | 0 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Financial assets, Fair Value | ' | ' | ' | ' |
Cash and Cash Equivalents, Fair Value | 0 | ' | 0 | ' |
Time deposits, Fair Value | 0 | ' | 0 | ' |
Financial liabilities, Fair Value | ' | ' | ' | ' |
Notes payable, Fair Value | 18,785 | ' | 14,033 | ' |
Current Portion of Long-term Debt, Fair Value | 1,563 | ' | 2,000 | ' |
Long-term Debt, Fair Value | 5,196 | ' | 3,500 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Financial assets, Fair Value | ' | ' | ' | ' |
Cash and Cash Equivalents, Fair Value | 0 | ' | 0 | ' |
Time deposits, Fair Value | 0 | ' | 0 | ' |
Financial liabilities, Fair Value | ' | ' | ' | ' |
Notes payable, Fair Value | 0 | ' | 0 | ' |
Current Portion of Long-term Debt, Fair Value | 0 | ' | 0 | ' |
Long-term Debt, Fair Value | $0 | ' | $0 | ' |
Fair_Values_of_Financial_Instr3
Fair Values of Financial Instruments (Details Textual) | 3 Months Ended | 9 Months Ended | |||||||
Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Jul. 13, 2013 | Oct. 05, 2013 | Dec. 29, 2012 | Oct. 06, 2012 | |
USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | Euro Overdraft Facility [Member] | Euro Overdraft Facility [Member] | Euro Overdraft Facility [Member] | |
USD ($) | USD ($) | USD ($) | |||||||
Bank Overdrafts | ' | ' | ' | ' | € 1,000,000 | € 2,000,000 | $600,000 | $2,500,000 | $2,400,000 |
Fair Value Inputs, Discount Rate | ' | ' | 11.20% | ' | ' | ' | ' | ' | ' |
Goodwill, Impairment Loss | ' | ' | ' | 13,200,000 | ' | ' | ' | ' | ' |
Finite-lived Intangible Assets, Fair Value Disclosure | ' | 1,700,000 | ' | 1,700,000 | ' | ' | ' | ' | ' |
Impairment Of Finite Lived Intangible Assets Carrying Value | ' | 1,900,000 | ' | 1,900,000 | ' | ' | ' | ' | ' |
Equity Method Investment, Other than Temporary Impairment | 0 | 382,000 | 0 | 382,000 | ' | ' | ' | ' | ' |
Equity Method Investment Other Than Temporary Impairment Net Of Tax | ' | 200,000 | ' | 200,000 | ' | ' | ' | ' | ' |
Equity Method Investments, Fair Value Disclosure | ' | 500,000 | ' | 500,000 | ' | ' | ' | ' | ' |
Equity Method Investments | ' | $900,000 | ' | $900,000 | ' | ' | ' | ' | ' |
Stock_Compensation_Details_Tex
Stock Compensation (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | ||
Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Vesting Terms | ' | ' | '25% per year over four years | ' |
Allocated Share-based Compensation Expense | $177,000 | $176,000 | $578,000 | $582,000 |
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $900,000 | $1,100,000 | $900,000 | $1,100,000 |
Director Fees [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | ' | ' | 23,719 | ' |
Director Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | ' | ' | 37,500 | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | ' | ' | 120,000 | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 | Dec. 29, 2012 |
Revenues from external customers | $38,482 | $34,206 | $117,305 | $106,800 | ' |
Operating income (loss) | 3,245 | -10,387 | 11,630 | -4,956 | ' |
Net income (loss) | 2,513 | -11,503 | 6,755 | -8,840 | ' |
Total assets | 138,610 | 124,187 | 138,610 | 124,187 | 125,740 |
Sporting Goods [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 31,559 | 25,636 | 94,827 | 79,282 | ' |
Operating income (loss) | 4,679 | 3,640 | 15,782 | 11,088 | ' |
Net income (loss) | 2,813 | 2,178 | 9,477 | 6,600 | ' |
Total assets | 90,189 | 77,903 | 90,189 | 77,903 | ' |
Information Security and Print Finishing [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 6,923 | 8,570 | 22,478 | 27,518 | ' |
Operating income (loss) | -741 | -13,378 | -1,863 | -13,885 | ' |
Net income (loss) | -862 | -13,830 | -2,712 | -14,938 | ' |
Total assets | 24,572 | 26,882 | 24,572 | 26,882 | ' |
Corporate [Member] | ' | ' | ' | ' | ' |
Revenues from external customers | 0 | 0 | 0 | 0 | ' |
Operating income (loss) | -693 | -649 | -2,289 | -2,159 | ' |
Net income (loss) | 562 | 149 | -10 | -502 | ' |
Total assets | $23,849 | $19,402 | $23,849 | $19,402 | ' |
Dividend_Payment_Details_Textu
Dividend Payment (Details Textual) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 20, 2013 | Jun. 20, 2013 | Mar. 20, 2013 | Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $0.09 | $0.08 | $0.08 | $0.09 | $0.08 | $0.25 | $0.23 |
Dividends, Common Stock, Cash (in dollars) | $1.20 | $1.10 | $1.10 | ' | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Oct. 05, 2013 | Oct. 06, 2012 | Oct. 05, 2013 | Oct. 06, 2012 | |
Weighted average common shares outstanding | 13,520 | 13,391 | 13,484 | 13,189 |
Dilutive effect of stock options and restricted stock units | 179 | 165 | 148 | 163 |
Weighted average common shares outstanding, assuming dilution | 13,699 | 13,556 | 13,632 | 13,352 |
Earnings_Per_Share_Details_Tex
Earnings Per Share (Details Textual) | 9 Months Ended | |
Oct. 05, 2013 | Oct. 06, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 522,750 | 454,500 |