Escalade (ESCA) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 03, 2015	Oct. 27, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 3, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	ESCALADE INC
Entity Central Index Key	33,488
Current Fiscal Year End Date	--12-26
Entity Filer Category	Accelerated Filer
Trading Symbol	ESCA
Entity Common Stock, Shares Outstanding		14,129,986

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014
Current Assets:
Cash and cash equivalents	$ 2,701	$ 3,232	$ 798
Time deposits	0	1,450	2,450
Receivables, less allowance of $885; $900; and $844; respectively	31,407	32,150	30,214
Inventories	40,337	23,775	33,182
Prepaid expenses	2,134	1,622	1,699
Deferred income tax benefit	949	925	2,302
Prepaid income tax	1,699	5,697	7,966
TOTAL CURRENT ASSETS	79,227	68,851	78,611
Property, plant and equipment, net	13,848	11,596	10,858
Intangible assets, net	17,517	13,465	9,145
Goodwill	20,142	14,875	13,242
Investments	18,799	18,949	18,782
Other assets	5	145	145
TOTAL ASSETS	149,538	127,881	130,783
Current Liabilities:
Notes payable	27,963	16,200	15,631
Current portion of long-term debt	1,810	1,586	1,586
Trade accounts payable	6,630	1,853	5,949
Accrued liabilities	12,430	12,107	11,003
TOTAL CURRENT LIABILITIES	48,833	31,746	34,169
Other Liabilities:
Long-term debt	1,750	3,360	3,360
Deferred income tax liability	5,031	2,996	5,456
TOTAL LIABILITIES	$ 55,614	$ 38,102	$ 42,985
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 - 14,125,935; 13,998,090; and 13,950,874; shares respectively	$ 14,126	$ 13,998	$ 13,951
Retained earnings	83,064	77,745	74,892
Accumulated other comprehensive loss	(3,266)	(1,964)	(1,045)
TOTAL STOCKHOLDERS' EQUITY	93,924	89,779	87,798
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 149,538	$ 127,881	$ 130,783

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014
Receivables allowance (in dollars)	$ 885	$ 900	$ 844
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	14,125,935	13,998,090	13,950,874
Common stock, shares outstanding	14,125,935	13,998,090	13,950,874

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Net sales	$ 34,584	$ 31,599	$ 111,798	$ 97,332
Costs, Expenses and Other Income
Cost of products sold	25,156	21,945	78,336	67,102
Selling, administrative and general expenses	6,905	4,871	21,018	16,865
Amortization	650	567	2,127	1,894
Operating Income	1,873	4,216	10,317	11,471
Interest expense	108	133	340	324
Other expense (income)	(1,108)	(1,914)	(2,356)	(2,315)
Income Before Income Taxes from Continuing Operations	2,873	5,997	12,333	13,462
Provision for Income Taxes from Continuing Operations	845	2,160	3,586	4,594
Net Income from Continuing Operations	2,028	3,837	8,747	8,868
Discontinued Operations
Loss from operations	0	(379)	0	(395)
Loss on classification as held for sale	0	0	0	(12,945)
Gain on disposal (includes $2,565 of accumulated other comprehensive income reclassification from foreign currency translation adjustment)	0	5,591	0	6,138
Provision (benefit) for income taxes	0	(4,572)	0	(6,121)
Net Income (Loss) from Discontinued Operations	0	9,784	0	(1,081)
Net Income	$ 2,028	$ 13,621	$ 8,747	$ 7,787
Basic Earnings Per Share Data:
Income from continuing operations (in dollars per share)	$ 0.14	$ 0.28	$ 0.62	$ 0.64
Income (Loss) from discontinued operations (in dollars per share)	0	0.7	0	(0.08)
Net Income (in dollars per share)	0.14	0.98	0.62	0.56
Diluted Earnings Per Share Data:
Income from continuing operations (in dollars per share)	0.14	0.27	0.61	0.63
Income (Loss) from discontinued operations (in dollars per share)	0	0.69	0	(0.08)
Net Income (in dollars per share)	0.14	0.96	0.61	0.55
Dividends declared	$ 0.11	$ 0.1	$ 0.32	$ 0.28

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	$ 0	$ 2,565	$ 0	$ 2,565

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Net Income	$ 2,028	$ 13,621	$ 8,747	$ 7,787
Foreign currency translation adjustment before reclassifications	168	(2,661)	(1,302)	(3,399)
Amounts reclassified from comprehensive income due to divestiture	0	(2,565)	0	(2,565)
Comprehensive Income	$ 2,196	$ 8,395	$ 7,445	$ 1,823

CONSOLIDATED CONDENSED STATEME7

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014
Operating Activities:
Net income	$ 8,747	$ 7,787
Reconciling adjustments:
Depreciation and amortization	3,812	3,331
Loss (gain) on disposal of property and equipment	1	(1)
Stock-based compensation	440	447
Additional discontinued operations activities	0	2,722
Changes in
Adjustments necessary to reconcile net income (loss) to net cash provided by operating activities	(8,147)	(5,198)
Net cash provided by operating activities	4,853	9,088
Investing Activities:
Purchase of property and equipment	(3,900)	(1,680)
Purchase of short-term time deposits	0	(2,000)
Acquisitions	(10,300)	(162)
Proceeds from sale of property and equipment	0	17
Dividends received from equity method investments	928	0
Proceeds from disposal of short-term time deposits	1,450	1,250
Discontinued operations activities	0	5,700
Net cash provided (used) by investing activities	(11,822)	3,125
Financing Activities:
Net increase (decrease) in notes payable	11,764	(6,069)
Principal payments on long-term debt	(1,586)	(1,562)
Proceeds from exercise of stock options	733	1,354
Cash dividends paid	(4,511)	(3,894)
Director stock compensation	38	114
Net cash provided (used) by financing activities	6,438	(10,057)
Effect of exchange rate changes on cash	0	(3,704)
Net decrease in cash and cash equivalents	(531)	(1,548)
Cash and cash equivalents, beginning of period (includes zero and $1,255 respectively of cash reported as assets held for sale)	3,232	2,346
Cash and cash equivalents, end of period	2,701	798
Supplemental Cash Flows Information
Dividends payable	3	45
Non-Cash Transactions
Note payable for deferred purchase price obligation	$ 200	$ 0

CONSOLIDATED CONDENSED STATEME8

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Oct. 03, 2015	Oct. 04, 2014
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	$ 0	$ 1,255

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 03, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and 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 its 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 27, 2014 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 (GAAP) 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 2014 filed with the Securities and Exchange Commission

Seasonal Aspects

Seasonal Aspects	9 Months Ended
	Oct. 03, 2015
Accounting Policies [Abstract]
Seasonal Aspects [Text Block]	The results of operations for the three and nine month periods ended October 3, 2015 and October 4, 2014 are not necessarily indicative of the results to be expected for the full year.

Inventories

Inventories	9 Months Ended
	Oct. 03, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	October 3, December 27, October 4, In thousands 2015 2014 2014 Raw materials $ 4,943 $ 3,950 $ 6,125 Work in progress 5,168 3,967 5,269 Finished goods 30,226 15,858 21,788 $ 40,337 $ 23,775 $ 33,182

Equity Interest Investments

Equity Interest Investments	9 Months Ended
	Oct. 03, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments Disclosure [Text Block]	The Company has a 50 10.7 12.4 14.9 4.2 17.3 4.9 50 0.3 Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Other income $ 1,069 $ 1,786 $ 2,080 $ 2,169 October 3, December 27, October 4, In thousands 2015 2014 2014 Current assets $ 31,044 $ 30,539 $ 33,046 Non-current assets 9,533 8,082 8,064 Total assets 40,577 38,621 41,110 Current liabilities 7,777 7,669 10,921 Non-current liabilities 5,736 4,229 4,370 Total liabilities 13,513 11,898 15,291 Net assets $ 27,064 $ 26,723 $ 25,819 Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Net sales $ 12,846 $ 17,206 $ 30,161 $ 33,944 Gross profit 6,304 8,308 14,899 16,654 Net income 2,138 3,581 3,346 3,969

Income Taxes

Income Taxes	9 Months Ended
	Oct. 03, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Note E – Income Taxes Nine Months Ended In thousands October 3, 2015 October 4, 2014 Beginning balance $ — $ — Additions for current year tax positions — 751 Additions for prior year tax positions — — Settlements — — Reductions or settlements — (751) Reductions for prior year tax positions — — Ending balance $ — $ —

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Oct. 03, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note F – 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 approximates the carrying value and 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. Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable October 3, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 2,701 $ 2,701 $ — $ — Time deposits $ — $ — $ — $ — Financial liabilities Notes payable $ 27,963 $ — $ 27,963 $ — Current portion of long-term debt $ 1,810 $ — $ 1,810 $ — Long-term debt $ 1,750 $ — $ 1,750 $ — Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 27, 2014 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,232 $ 3,232 $ — $ — Time deposits $ 1,450 $ 1,450 $ — $ — Financial liabilities Notes payable $ 16,200 $ — $ 16,200 $ — Current portion of long-term debt $ 1,586 $ — $ 1,586 $ — Long-term debt $ 3,360 $ — $ 3,360 $ — Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable October 4, 2014 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 798 $ 798 $ — $ — Time deposits $ 2,450 $ 2,450 $ — $ — Financial liabilities Notes payable $ 15,631 $ — $ 15,631 $ — Current portion of Long-term debt $ 1,586 $ — $ 1,586 $ — Long-term debt $ 3,360 $ — $ 3,360 $ —

Stock Compensation

Stock Compensation	9 Months Ended
	Oct. 03, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	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 3, 2015 and pursuant to the 2007 Incentive Plan, in lieu of cash payments of director fees, the Company awarded to certain directors 2,311 10,000 42,450 15 0.10 38,250 For the three months and nine months ended October 3, 2015, including expense associated with issuing certain directors stock in lieu of cash for certain director fees, the Company recognized stock based compensation expense of $ 155 478 161 561 0.8 0.8

Discontinued Operations

Discontinued Operations	9 Months Ended
	Oct. 03, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note H – Discontinued Operations On October 1, 2014, the Company completed the sale of the Information Security business. The sale of the Information Security business, coupled with the sale of our Print Finishing business on June 30, 2014, represents the Company’s exit from the Information Security and Print Finishing segment. As a result, the Information Security and Print Finishing segment has been classified as discontinued operations for all periods presented and certain assets and liabilities in prior periods are classified as held for sale. The carrying value of these assets was greater than their fair value, less the cost to sell the Information Security business, resulting in an impairment of certain accounts receivables, inventories, long-lived assets, intangible assets and other assets totaling $ 12.9 Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, All Amounts in Thousands 2015 2014 2015 2014 Net sales $ — $ 4,957 $ — $ 20,865 Cost of products sold — 3,530 — 13,812 Selling, administrative and general expenses — 1,830 — 7,297 Interest expense (income) — (24) — 138 Other expense — — — 13 Loss Before Income Taxes — (379) — (395) Discontinued Operations Loss on classification as held for sale — — — (12,945) Gain on disposal — 5,591 — 6,138 Benefit for income taxes — (4,572) — (6,121) Net Income (Loss) from Discontinued Operations $ — $ 9,784 $ — $ (1,081)

Segment Information

Segment Information	9 Months Ended
	Oct. 03, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note I - Segment Information For the Three Months Ended October 3, 2015 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 34,584 $ — $ — $ 34,584 Operating income (loss) 2,875 — (1,002) 1,873 Net income 1,582 — 446 2,028 As of and for the Nine Months Ended October 3, 2015 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 111,798 $ — $ — $ 111,798 Operating income (loss) 13,372 — (3,055) 10,317 Net income 8,035 — 712 8,747 Total assets $ 124,423 $ — $ 25,115 $ 149,538 For the Three Months Ended October 4, 2014 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 31,599 $ 4,957 $ — $ 36,556 Operating income (loss) 5,113 (403) (897) 3,813 Net income 3,103 9,784 734 13,621 As of and for the Nine Months Ended October 4, 2014 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 97,332 $ 20,865 $ — $ 118,197 Operating income (loss) 14,580 (244) (3,109) 11,227 Net income (loss) 8,866 (1,081) 2 7,787 Total assets $ 97,343 $ — $ 33,440 $ 130,783

Dividend Payment

Dividend Payment	9 Months Ended
	Oct. 03, 2015
Payments of Dividends [Abstract]
Dividend Payment Terms [Text Block]	Note J – Dividend Payment On September 21, 2015, the company paid a quarterly dividend of $ 0.11 1.6 On June 19, 2015, the company paid a quarterly dividend of $ 0.11 1.6 On March 20, 2015, the Company paid a quarterly dividend of $ 0.10 1.4

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 03, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note K - Earnings Per Share Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Weighted average common shares outstanding 14,120 13,922 14,069 13,821 Dilutive effect of stock options and restricted stock units 190 264 188 257 Weighted average common shares outstanding, assuming dilution 14,310 14,186 14,257 14,078 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. No stock options or restricted stock units were excluded in the computation of dilutive earnings per share in 2014. In 2015, there were 4,200

New Accounting Standards

New Accounting Standards	9 Months Ended
	Oct. 03, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note L – New Accounting Standards There have been no recent accounting pronouncements or changes in accounting pronouncements during the nine months ended October 3, 2015, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 27, 2014, that are of significance, or potential significance to the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 03, 2015
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.

Acquisitions

Acquisitions	9 Months Ended
	Oct. 03, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note N – Acquisitions During the third quarter of 2015, the Company acquired certain assets and liabilities of Onix Sports, Inc. and acquired all of the issued and outstanding shares of capital stock of Goalsetter Systems, Inc. for total consideration of cash and notes of approximately $10.3 million, subject to adjustments for working capital. The Company anticipates that total working capital adjustments will result in $0.6 million of additional consideration to the sellers, of which $0.2 million was paid during the third quarter of 2015. The consideration paid by the company for these acquisitions is allocated to the assets acquired, net of the liabilities assumed, based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair value of the assets acquired, net of the estimated fair value of the liabilities assumed, is recorded as goodwill. The Company has not yet finalized the purchase price or its final evaluation of the fair value of certain assets acquired. The primary areas of the purchase price allocation that are not yet finalized relate to the valuation of intangible assets acquired, deferred income taxes and residual goodwill. In thousands Assets acquired and liabilities assumed: Accounts receivable $ 801 Inventories 968 Other assets 51 Goodwill 5,267 Intangible assets 6,180 Accounts payable (259) Other liabilities (73) Deferred income tax liability (2,035) $ 10,900 These acquisitions were not and would not have been material to the Company’s net sales, results of operations or total assets during the three and nine month periods ended October 3, 2015. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of these acquisitions, and therefore, pro-forma results are not presented.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 03, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	October 3, December 27, October 4, In thousands 2015 2014 2014 Raw materials $ 4,943 $ 3,950 $ 6,125 Work in progress 5,168 3,967 5,269 Finished goods 30,226 15,858 21,788 $ 40,337 $ 23,775 $ 33,182

Equity Interest Investments (Ta

Equity Interest Investments (Tables)	9 Months Ended
	Oct. 03, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	The Company’s 50% portion of net income for Stiga, included in other income (expense) on the Company’s statements of operations, for the periods ended October 3, 2015 and October 4, 2014 is as follows: Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Other income $ 1,069 $ 1,786 $ 2,080 $ 2,169
Schedule of Joint Ventures Financial Information [Table Text Block]	Summarized financial information for Stiga Sports AB balance sheets as of October 3, 2015, December 27, 2014, and October 4, 2014 and statements of operations for the three month and nine month periods ended October 3, 2015 and October 4, 2014 is as follows: October 3, December 27, October 4, In thousands 2015 2014 2014 Current assets $ 31,044 $ 30,539 $ 33,046 Non-current assets 9,533 8,082 8,064 Total assets 40,577 38,621 41,110 Current liabilities 7,777 7,669 10,921 Non-current liabilities 5,736 4,229 4,370 Total liabilities 13,513 11,898 15,291 Net assets $ 27,064 $ 26,723 $ 25,819
Schedule of Joint Ventures Income Statement Information [Table Text Block]	Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Net sales $ 12,846 $ 17,206 $ 30,161 $ 33,944 Gross profit 6,304 8,308 14,899 16,654 Net income 2,138 3,581 3,346 3,969

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Oct. 03, 2015
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 FASB Accounting Standards Codification (ASC) 740, the Company has recorded the following changes in uncertain tax positions: Nine Months Ended In thousands October 3, 2015 October 4, 2014 Beginning balance $ — $ — Additions for current year tax positions — 751 Additions for prior year tax positions — — Settlements — — Reductions or settlements — (751) Reductions for prior year tax positions — — Ending balance $ — $ —

Fair Values of Financial Inst26

Fair Values of Financial Instruments (Tables)	9 Months Ended
	Oct. 03, 2015
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 3, 2015, December 27, 2014 and October 4, 2014. Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable October 3, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 2,701 $ 2,701 $ — $ — Time deposits $ — $ — $ — $ — Financial liabilities Notes payable $ 27,963 $ — $ 27,963 $ — Current portion of long-term debt $ 1,810 $ — $ 1,810 $ — Long-term debt $ 1,750 $ — $ 1,750 $ — Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 27, 2014 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,232 $ 3,232 $ — $ — Time deposits $ 1,450 $ 1,450 $ — $ — Financial liabilities Notes payable $ 16,200 $ — $ 16,200 $ — Current portion of long-term debt $ 1,586 $ — $ 1,586 $ — Long-term debt $ 3,360 $ — $ 3,360 $ — Fair Value Measurements Using Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable October 4, 2014 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 798 $ 798 $ — $ — Time deposits $ 2,450 $ 2,450 $ — $ — Financial liabilities Notes payable $ 15,631 $ — $ 15,631 $ — Current portion of Long-term debt $ 1,586 $ — $ 1,586 $ — Long-term debt $ 3,360 $ — $ 3,360 $ —

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Oct. 03, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	The results of operations presented as discontinued operations are summarized below. Three Months Ended Nine Months Ended October 3, October 4, October 3, October 4, All Amounts in Thousands 2015 2014 2015 2014 Net sales $ — $ 4,957 $ — $ 20,865 Cost of products sold — 3,530 — 13,812 Selling, administrative and general expenses — 1,830 — 7,297 Interest expense (income) — (24) — 138 Other expense — — — 13 Loss Before Income Taxes — (379) — (395) Discontinued Operations Loss on classification as held for sale — — — (12,945) Gain on disposal — 5,591 — 6,138 Benefit for income taxes — (4,572) — (6,121) Net Income (Loss) from Discontinued Operations $ — $ 9,784 $ — $ (1,081)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 03, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The Information Security and Print Finishing segment has been classified as discontinued operations for all periods presented. For the Three Months Ended October 3, 2015 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 34,584 $ — $ — $ 34,584 Operating income (loss) 2,875 — (1,002) 1,873 Net income 1,582 — 446 2,028 As of and for the Nine Months Ended October 3, 2015 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 111,798 $ — $ — $ 111,798 Operating income (loss) 13,372 — (3,055) 10,317 Net income 8,035 — 712 8,747 Total assets $ 124,423 $ — $ 25,115 $ 149,538 For the Three Months Ended October 4, 2014 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 31,599 $ 4,957 $ — $ 36,556 Operating income (loss) 5,113 (403) (897) 3,813 Net income 3,103 9,784 734 13,621 As of and for the Nine Months Ended October 4, 2014 Sporting Discontinued In thousands Goods Operations Corp. Total Revenues from external customers $ 97,332 $ 20,865 $ — $ 118,197 Operating income (loss) 14,580 (244) (3,109) 11,227 Net income (loss) 8,866 (1,081) 2 7,787 Total assets $ 97,343 $ — $ 33,440 $ 130,783

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 03, 2015
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 October 3, October 4, October 3, October 4, In thousands 2015 2014 2015 2014 Weighted average common shares outstanding 14,120 13,922 14,069 13,821 Dilutive effect of stock options and restricted stock units 190 264 188 257 Weighted average common shares outstanding, assuming dilution 14,310 14,186 14,257 14,078

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Oct. 03, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Any changes during the measurement period may have an impact on the allocation of the purchase price, including values assigned to assets, liabilities and the amount of estimated goodwill and intangible assets represented in the table below. In thousands Assets acquired and liabilities assumed: Accounts receivable $ 801 Inventories 968 Other assets 51 Goodwill 5,267 Intangible assets 6,180 Accounts payable (259) Other liabilities (73) Deferred income tax liability (2,035) $ 10,900

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014
Inventory [Line Items]
Raw materials	$ 4,943	$ 3,950	$ 6,125
Work in progress	5,168	3,967	5,269
Finished goods	30,226	15,858	21,788
Total Inventory	$ 40,337	$ 23,775	$ 33,182

Equity Interest Investments (De

Equity Interest Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Other income	$ 1,108	$ 1,914	$ 2,356	$ 2,315
Stiga Sports B [Member]
Other income	$ 1,069	$ 1,786	$ 2,080	$ 2,169

Equity Interest Investments (33

Equity Interest Investments (Details 1) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014
Schedule of Equity Method Investments [Line Items]
Current assets	$ 79,227	$ 68,851	$ 78,611
Total assets	149,538	127,881	130,783
Current liabilities	48,833	31,746	34,169
Total liabilities	55,614	38,102	42,985
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	31,044	30,539	33,046
Non-current assets	9,533	8,082	8,064
Total assets	40,577	38,621	41,110
Current liabilities	7,777	7,669	10,921
Non-current liabilities	5,736	4,229	4,370
Total liabilities	13,513	11,898	15,291
Net assets	$ 27,064	$ 26,723	$ 25,819

Equity Interest Investments (34

Equity Interest Investments (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Schedule of Equity Method Investments [Line Items]
Net sales	$ 34,584	$ 31,599	$ 111,798	$ 97,332
Net income	2,028	13,621	8,747	7,787
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	12,846	17,206	30,161	33,944
Gross profit	6,304	8,308	14,899	16,654
Net income	$ 2,138	$ 3,581	$ 3,346	$ 3,969

Equity Interest Investments (35

Equity Interest Investments (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014
Schedule of Equity Method Investments [Line Items]
Adjustments For Net Income Impact	$ 0
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Amortization Of Goodwill	$ 10.7	$ 12.4
Goodwill, Translation Adjustments	14.9	17.3
Cumulative goodwill adjustments, tax effect	$ 4.2	4.9
Adjustments For Net Income Impact		$ 0.3
Stiga Sports AB [Member] | Parent [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014
Income Tax Contingency [Line Items]
Beginning balance	$ 0	$ 0
Additions for current year tax positions	0	751
Additions for prior year tax positions	0	0
Settlements	0	0
Reductions or settlements	0	(751)
Reductions for prior year tax positions	0	0
Ending balance	$ 0	$ 0

Fair Values of Financial Inst37

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014	Dec. 28, 2013
Financial assets, Carrying Amount
Cash and cash equivalents, Carrying Amount	$ 2,701	$ 3,232	$ 798	$ 2,346
Time deposits, Carrying Amount	0	1,450	2,450
Financial liabilities, Carrying Amount
Notes payable, Carrying Amount	27,963	16,200	15,631
Current portion of Long-term debt, Carrying Amount	1,810	1,586	1,586
Long-term debt, Carrying Amount	1,750	3,360	3,360
Fair Value, Inputs, Level 1 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	2,701	3,232	798
Time deposits, Fair Value	0	1,450	2,450
Financial liabilities, Fair Value
Notes payable, Fair Value	0	0	0
Current portion of Long-term debt, Fair Value	0	0	0
Long-term debt, Fair Value	0	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Time deposits, Fair Value	0	0	0
Financial liabilities, Fair Value
Notes payable, Fair Value	27,963	16,200	15,631
Current portion of Long-term debt, Fair Value	1,810	1,586	1,586
Long-term debt, Fair Value	1,750	3,360	3,360
Fair Value, Inputs, Level 3 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Time deposits, Fair Value	0	0	0
Financial liabilities, Fair Value
Notes payable, Fair Value	0	0	0
Current portion of Long-term debt, Fair Value	0	0	0
Long-term debt, Fair Value	$ 0	$ 0	$ 0

Stock Compensation (Details Tex

Stock Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Sep. 21, 2015	Jun. 19, 2015	Mar. 20, 2015	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense				$ 155	$ 161	$ 478	$ 561
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized				$ 800	$ 800	$ 800	$ 800
Cumulative Average Volume Weighted Average Price Per Share						15.00%
Common Stock, Dividends, Per Share, Cash Paid	$ 0.11	$ 0.11	$ 0.10			$ 0.10
Stock Issued During Period, Shares, Restricted Stock Award, Gross						38,250
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross						2,311
Employee Stock Option [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross						10,000
Employee Stock Option [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross						42,450

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 0	$ 4,957	$ 0	$ 20,865
Cost of products sold	0	3,530	0	13,812
Selling, administrative and general expenses	0	1,830	0	7,297
Interest expense (income)	0	(24)	0	138
Other expense	0	0	0	13
Loss Before Income Taxes	0	(379)	0	(395)
Discontinued Operations
Loss on classification as held for sale	0	0	0	(12,945)
Gain on disposal	0	5,591	0	6,138
Benefit for income taxes	0	(4,572)	0	(6,121)
Net Income (Loss) from Discontinued Operations	$ 0	$ 9,784	$ 0	$ (1,081)

Discontinued Operations (Deta40

Discontinued Operations (Details Textual) $ in Millions	9 Months Ended
	Oct. 04, 2014USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset Impairment Charges, Total	$ 12.9

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014	Dec. 27, 2014
Segment Reporting Information [Line Items]
Revenues from external customers	$ 34,584	$ 36,556	$ 111,798	$ 118,197
Operating income (loss)	1,873	3,813	10,317	11,227
Net income	2,028	13,621	8,747	7,787
Total assets	149,538	130,783	149,538	130,783	$ 127,881
Sporting Goods [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	34,584	31,599	111,798	97,332
Operating income (loss)	2,875	5,113	13,372	14,580
Net income	1,582	3,103	8,035	8,866
Total assets	124,423	97,343	124,423	97,343
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	4,957	0	20,865
Operating income (loss)	0	(403)	0	(244)
Net income	0	9,784	0	(1,081)
Total assets	0	0	0	0
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	0	0	0
Operating income (loss)	(1,002)	(897)	(3,055)	(3,109)
Net income	446	734	712	2
Total assets	$ 25,115	$ 33,440	$ 25,115	$ 33,440

Dividend Payment (Details Textu

Dividend Payment (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Sep. 21, 2015	Jun. 19, 2015	Mar. 20, 2015	Oct. 03, 2015
Dividend Payment Terms [Line Items]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.11	$ 0.11	$ 0.10	$ 0.10
Dividends, Common Stock, Cash (in dollars)	$ 1.6	$ 1.6	$ 1.4

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Oct. 04, 2014	Oct. 03, 2015	Oct. 04, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares outstanding	14,120	13,922	14,069	13,821
Dilutive effect of stock options and restricted stock units	190	264	188	257
Weighted average common shares outstanding, assuming dilution	14,310	14,186	14,257	14,078

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual)	9 Months Ended
	Oct. 03, 2015shares
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,200

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 27, 2014	Oct. 04, 2014
Assets acquired and liabilities assumed:
Goodwill	$ 20,142	$ 14,875	$ 13,242
Goalsetter [Member]
Assets acquired and liabilities assumed:
Accounts receivable	801
Inventories	968
Other assets	51
Goodwill	5,267
Intangible assets	6,180
Accounts payable	(259)
Other liabilities	(73)
Deferred income tax liability	(2,035)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total	$ 10,900

Acquisitions (Details Textual)

Acquisitions (Details Textual) - Onix Sports Inc [Member] $ in Millions	3 Months Ended
	Oct. 03, 2015USD ($)
Business Combination, Consideration Transferred, Total	$ 10.3
Working Capital Adjustment	0.6
Working Capital Adjustment Paid	$ 0.2