Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 19, 2016 | Apr. 13, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 19, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | ESCALADE INC | |
Entity Central Index Key | 33,488 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | ESCA | |
Entity Common Stock, Shares Outstanding | 14,256,222 |
CONSOLIDATED CONDENSED BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 |
Current Assets: | |||
Cash and cash equivalents | $ 3,260 | $ 1,982 | $ 1,522 |
Time deposits | 0 | 0 | 1,450 |
Receivables, less allowance of $1,888; $1,086; and $864; respectively | 32,469 | 38,984 | 28,419 |
Inventories | 37,377 | 25,862 | 29,981 |
Prepaid expenses | 2,082 | 2,534 | 1,712 |
Deferred income tax benefit | 1,598 | 1,543 | 1,126 |
Prepaid income tax | 1,238 | 1,910 | 3,610 |
TOTAL CURRENT ASSETS | 78,024 | 72,815 | 67,820 |
Property, plant and equipment, net | 14,073 | 14,363 | 11,592 |
Intangible assets, net | 22,396 | 16,868 | 12,831 |
Goodwill | 21,456 | 20,047 | 14,875 |
Investments | 19,315 | 19,644 | 17,727 |
Other assets | 0 | 0 | 21 |
TOTAL ASSETS | 155,264 | 143,737 | 124,866 |
Current Liabilities: | |||
Notes payable | 25,888 | 19,776 | 13,742 |
Current portion of long-term debt | 1,910 | 1,810 | 1,592 |
Trade accounts payable | 6,470 | 2,547 | 4,816 |
Accrued liabilities | 9,796 | 14,174 | 8,544 |
TOTAL CURRENT LIABILITIES | 44,064 | 38,307 | 28,694 |
Other Liabilities: | |||
Long-term debt | 6,250 | 1,750 | 2,960 |
Deferred income tax liability | 7,200 | 7,200 | 2,997 |
TOTAL LIABILITIES | $ 57,514 | $ 47,257 | $ 34,651 |
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 - 14,254,972; 14,179,844; and 14,025,184; shares respectively | $ 14,255 | $ 14,180 | $ 14,025 |
Retained earnings | 85,992 | 85,478 | 80,042 |
Accumulated other comprehensive loss | (2,497) | (3,178) | (3,852) |
TOTAL STOCKHOLDERS' EQUITY | 97,750 | 96,480 | 90,215 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 155,264 | $ 143,737 | $ 124,866 |
CONSOLIDATED CONDENSED BALANCE3
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 |
Receivables allowance (in dollars) | $ 1,888 | $ 1,086 | $ 864 |
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 | 14,254,972 | 14,179,844 | 14,025,184 |
Common stock, shares outstanding | 14,254,972 | 14,179,844 | 14,025,184 |
CONSOLIDATED CONDENSED STATEMEN
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Net sales | $ 34,568 | $ 33,419 |
Costs and Expenses | ||
Cost of products sold | 23,539 | 22,585 |
Selling, administrative and general expenses | 7,763 | 5,914 |
Amortization | 788 | 633 |
Operating Income | 2,478 | 4,287 |
Other Income (Expense) | ||
Interest expense | (164) | (101) |
Equity in earnings of affiliates | 49 | 667 |
Other income | 59 | 66 |
Income Before Income Taxes | 2,422 | 4,919 |
Provision for Income Taxes | 725 | 1,422 |
Net Income | $ 1,697 | $ 3,497 |
Earnings Per Share Data: | ||
Basic earnings per share (in dollars per share) | $ 0.12 | $ 0.25 |
Diluted earnings per share (in dollars per share) | 0.12 | 0.25 |
Dividends declared | $ 0.11 | $ 0.10 |
CONSOLIDATED CONDENSED STATEME5
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Net Income | $ 1,697 | $ 3,497 |
Foreign currency translation adjustment | 681 | (1,888) |
Comprehensive Income | $ 2,378 | $ 1,609 |
CONSOLIDATED CONDENSED STATEME6
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Operating Activities: | ||
Net income | $ 1,697 | $ 3,497 |
Reconciling adjustments: | ||
Depreciation and amortization | 1,610 | 1,104 |
Gain on disposal of property and equipment | (154) | 0 |
Stock-based compensation | 107 | 107 |
Dividends received from equity method investments | 1,060 | 0 |
Adjustments necessary to reconcile net income to net cash provided by operating activities | (2,643) | (1,819) |
Net cash provided by operating activities | 1,677 | 2,889 |
Investing Activities: | ||
Purchase of property and equipment | (546) | (468) |
Acquisitions | (9,459) | 0 |
Proceeds from sale of property and equipment | 193 | 0 |
Net cash used by investing activities | (9,812) | (468) |
Financing Activities: | ||
Net increase (decrease) in notes payable | 6,111 | (2,458) |
Principal payments on long-term debt | (400) | (394) |
Proceeds from issuance of long-term debt | 5,000 | 0 |
Proceeds from exercise of stock options | 353 | 96 |
Deferred financing fees | (83) | 0 |
Cash dividends paid | (1,568) | (1,403) |
Director stock compensation | 0 | 28 |
Net cash provided by (used by) financing activities | 9,413 | (4,131) |
Net increase (decrease) in cash and cash equivalents | 1,278 | (1,710) |
Cash and cash equivalents, beginning of period | 1,982 | 3,232 |
Cash and cash equivalents, end of period | 3,260 | 1,522 |
Supplemental Cash Flows Information | ||
Dividends payable | $ 2 | $ 1 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 19, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 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 26, 2015 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 2015 filed with the Securities and Exchange Commission. Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings. |
Seasonal Aspects
Seasonal Aspects | 3 Months Ended |
Mar. 19, 2016 | |
Accounting Policies [Abstract] | |
Seasonal Aspects [Text Block] | Note B - Seasonal Aspects The results of operations for the three month periods ended March 19, 2016 and March 21, 2015 are not necessarily indicative of the results to be expected for the full year. |
Inventories
Inventories | 3 Months Ended |
Mar. 19, 2016 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note C - Inventories March 19, December 26, March 21, In thousands 2016 2015 2015 Raw materials $ 4,408 $ 3,621 $ 3,870 Work in progress 4,964 4,297 4,306 Finished goods 28,005 17,944 21,805 $ 37,377 $ 25,862 $ 29,981 |
Equity Interest Investments
Equity Interest Investments | 3 Months Ended |
Mar. 19, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments Disclosure [Text Block] | Note D Equity Interest Investments The Company has a 50 10.8 10.3 15.1 4.3 14.4 4.1 0.4 50 49 667 March 19, December 26, March 21, In thousands 2016 2015 2015 Current assets $ 29,018 $ 29,300 $ 25,295 Non-current assets 10,244 9,908 7,869 Total assets 39,262 39,208 33,164 Current liabilities 3,857 5,096 4,334 Non-current liabilities 6,042 5,835 4,167 Total liabilities 9,899 10,931 8,501 Net assets $ 29,363 $ 28,277 $ 24,663 Three Months Ended March 19, March 21, 2016 2015 Net sales $ 5,399 $ 5,599 Gross profit 2,558 2,871 Net income 97 518 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 19, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note E Income Taxes The provision for income taxes was computed based on financial statement income. |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 3 Months Ended |
Mar. 19, 2016 | |
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 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 Significant Significant March 19, 2016 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,260 $ 3,260 $ $ Financial liabilities Notes payable $ 25,888 $ $ 25,888 $ Current portion of long-term debt $ 1,910 $ $ 1,910 $ -- Long-term debt $ 6,250 $ $ 6,250 $ Fair Value Measurements Using Quoted Significant Significant December 26, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,982 $ 1,982 $ $ Financial liabilities Notes payable $ 19,776 $ $ 19,776 $ Current portion of long-term debt $ 1,810 $ $ 1,810 $ Long-term debt $ 1,750 $ $ 1,750 $ Fair Value Measurements Using Quoted Significant Significant March 21, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,522 $ 1,522 $ $ Time deposits $ 1,450 $ 1,450 $ $ Financial liabilities Notes payable $ 13,742 $ $ 13,742 $ Current portion of long-term debt $ 1,592 $ $ 1,592 $ Long-term debt $ 2,960 $ $ 2,960 $ |
Stock Compensation
Stock Compensation | 3 Months Ended |
Mar. 19, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note G Stock Compensation The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation During the three months ended March 19, 2016, the Company awarded 13,250 34,000 30 15 0.11 20,000 The stock options awarded will vest over five years (one-third three years from the grant date, one-third four years from the grant date and one-third five years from the grant date). 15 For the three months ended March 19, 2016 and March 21, 2015, the Company recognized stock based compensation expense of $ 107 135 1.0 1.1 |
Segment Information
Segment Information | 3 Months Ended |
Mar. 19, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note H - Segment Information As of and for the Three Months Ended March 19, 2016 In thousands Sporting Corp. Total Revenues from external customers $ 34,568 $ $ 34,568 Operating income (loss) 3,189 (711) 2,478 Net income (loss) 1,862 (165) 1,697 Total assets $ 128,209 $ 27,055 $ 155,264 As of and for the Three Months Ended March 21, 2015 In thousands Sporting Corp. Total Revenues from external customers $ 33,419 $ $ 33,419 Operating income (loss) 5,244 (957) 4,287 Net income 3,216 281 3,497 Total assets $ 98,470 $ 26,396 $ 124,866 |
Dividend Payment
Dividend Payment | 3 Months Ended |
Mar. 19, 2016 | |
Payments of Dividends [Abstract] | |
Dividend Payment Terms [Text Block] | Note I Dividend Payment On March 21, 2016, the Company paid a quarterly dividend of $ 0.11 1.6 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 19, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note J - Earnings Per Share Three Months Ended March 19, March 21, In thousands 2016 2015 Weighted average common shares outstanding 14,200 14,015 Dilutive effect of stock options and restricted stock units 89 235 Weighted average common shares outstanding, assuming dilution 14,289 14,250 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 2016 and 2015 were 55,200 38,250 |
New Accounting Standards
New Accounting Standards | 3 Months Ended |
Mar. 19, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note K New Accounting Standards With the exception of that discussed below, there have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended March 19, 2016, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2015, that are of significance, or potential significance to the Company. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 19, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note L 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. |
Acquisition
Acquisition | 3 Months Ended |
Mar. 19, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note M Acquisition On January 21, 2016, the Company acquired substantially all of the business and assets of Triumph Sports USA, Inc.’s business, a brand known for its innovative lines of indoor and outdoor games. Of the $ 10.0 9.5 0.5 1.4 1.4 0.1 0.6 1.4 6.3 This acquisition was not and would not have been material to the Company’s net sales, results of operations or total assets during the three months ended March 19, 2016. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of this acquisition, and therefore, pro-forma results are not presented. |
Summary of Significant Accoun20
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 19, 2016 | |
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 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 26, 2015 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 2015 filed with the Securities and Exchange Commission. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings. |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 19, 2016 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | March 19, December 26, March 21, In thousands 2016 2015 2015 Raw materials $ 4,408 $ 3,621 $ 3,870 Work in progress 4,964 4,297 4,306 Finished goods 28,005 17,944 21,805 $ 37,377 $ 25,862 $ 29,981 |
Equity Interest Investments (Ta
Equity Interest Investments (Tables) | 3 Months Ended |
Mar. 19, 2016 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Joint Ventures Financial Information [Table Text Block] | Summarized financial information for Stiga Sports AB balance sheets as of March 19, 2016, December 26, 2015, and March 21, 2015 and statements of operations for the three months ended March 19, 2016 and March 21, 2015 is as follows: March 19, December 26, March 21, In thousands 2016 2015 2015 Current assets $ 29,018 $ 29,300 $ 25,295 Non-current assets 10,244 9,908 7,869 Total assets 39,262 39,208 33,164 Current liabilities 3,857 5,096 4,334 Non-current liabilities 6,042 5,835 4,167 Total liabilities 9,899 10,931 8,501 Net assets $ 29,363 $ 28,277 $ 24,663 |
Schedule of Joint Ventures Income Statement Information [Table Text Block] | Three Months Ended March 19, March 21, 2016 2015 Net sales $ 5,399 $ 5,599 Gross profit 2,558 2,871 Net income 97 518 |
Fair Values of Financial Inst23
Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 19, 2016 | |
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 March 19, 2016, December 26, 2015 and March 21, 2015. Fair Value Measurements Using Quoted Significant Significant March 19, 2016 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,260 $ 3,260 $ $ Financial liabilities Notes payable $ 25,888 $ $ 25,888 $ Current portion of long-term debt $ 1,910 $ $ 1,910 $ -- Long-term debt $ 6,250 $ $ 6,250 $ Fair Value Measurements Using Quoted Significant Significant December 26, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,982 $ 1,982 $ $ Financial liabilities Notes payable $ 19,776 $ $ 19,776 $ Current portion of long-term debt $ 1,810 $ $ 1,810 $ Long-term debt $ 1,750 $ $ 1,750 $ Fair Value Measurements Using Quoted Significant Significant March 21, 2015 Carrying Assets Inputs Inputs In thousands Amount (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,522 $ 1,522 $ $ Time deposits $ 1,450 $ 1,450 $ $ Financial liabilities Notes payable $ 13,742 $ $ 13,742 $ Current portion of long-term debt $ 1,592 $ $ 1,592 $ Long-term debt $ 2,960 $ $ 2,960 $ |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 19, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of and for the Three Months Ended March 19, 2016 In thousands Sporting Corp. Total Revenues from external customers $ 34,568 $ $ 34,568 Operating income (loss) 3,189 (711) 2,478 Net income (loss) 1,862 (165) 1,697 Total assets $ 128,209 $ 27,055 $ 155,264 As of and for the Three Months Ended March 21, 2015 In thousands Sporting Corp. Total Revenues from external customers $ 33,419 $ $ 33,419 Operating income (loss) 5,244 (957) 4,287 Net income 3,216 281 3,497 Total assets $ 98,470 $ 26,396 $ 124,866 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 19, 2016 | |
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 March 19, March 21, In thousands 2016 2015 Weighted average common shares outstanding 14,200 14,015 Dilutive effect of stock options and restricted stock units 89 235 Weighted average common shares outstanding, assuming dilution 14,289 14,250 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 |
Inventory [Line Items] | |||
Raw materials | $ 4,408 | $ 3,621 | $ 3,870 |
Work in progress | 4,964 | 4,297 | 4,306 |
Finished goods | 28,005 | 17,944 | 21,805 |
Inventories | $ 37,377 | $ 25,862 | $ 29,981 |
Equity Interest Investments (De
Equity Interest Investments (Details) - USD ($) $ in Thousands | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 |
Schedule of Equity Method Investments [Line Items] | |||
Current assets | $ 78,024 | $ 72,815 | $ 67,820 |
Total assets | 155,264 | 143,737 | 124,866 |
Current liabilities | 44,064 | 38,307 | 28,694 |
Total liabilities | 57,514 | 47,257 | 34,651 |
Stiga Sports AB [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Current assets | 29,018 | 29,300 | 25,295 |
Non-current assets | 10,244 | 9,908 | 7,869 |
Total assets | 39,262 | 39,208 | 33,164 |
Current liabilities | 3,857 | 5,096 | 4,334 |
Non-current liabilities | 6,042 | 5,835 | 4,167 |
Total liabilities | 9,899 | 10,931 | 8,501 |
Net assets | $ 29,363 | $ 28,277 | $ 24,663 |
Equity Interest Investments (28
Equity Interest Investments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||
Net sales | $ 34,568 | $ 33,419 |
Net income | 1,697 | 3,497 |
Stiga Sports AB [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Net sales | 5,399 | 5,599 |
Gross profit | 2,558 | 2,871 |
Net income | $ 97 | $ 518 |
Equity Interest Investments (29
Equity Interest Investments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||
Income (Loss) from Equity Method Investments | $ 49 | $ 667 |
Stiga Sports AB [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Amortization Of Goodwill | $ 10,800 | 10,300 |
Goodwill, Translation Adjustments | 15,100 | 14,400 |
Cumulative goodwill adjustments, tax effect | 4,300 | 4,100 |
Adjustments For Net Income Impact | 0 | 400 |
Income (Loss) from Equity Method Investments | $ 49 | $ 667 |
Stiga Sports AB [Member] | Parent [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% |
Fair Values of Financial Inst30
Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 | Dec. 27, 2014 |
Financial assets, Carrying Amount | ||||
Cash and cash equivalents, Carrying Amount | $ 3,260 | $ 1,982 | $ 1,522 | $ 3,232 |
Time deposits, Carrying Amount | 0 | 0 | 1,450 | |
Financial liabilities, Carrying Amount | ||||
Notes payable, Carrying Amount | 25,888 | 19,776 | 13,742 | |
Current portion of Long-term debt, Carrying Amount | 1,910 | 1,810 | 1,592 | |
Long-term debt, Carrying Amount | 6,250 | 1,750 | 2,960 | |
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets, Fair Value | ||||
Cash and cash equivalents, Fair Value | 3,260 | 1,982 | 1,522 | |
Time deposits, Fair Value | 1,450 | |||
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 | |||
Financial liabilities, Fair Value | ||||
Notes payable, Fair Value | 25,888 | 19,776 | 13,742 | |
Current portion of Long-term debt, Fair Value | 1,910 | 1,810 | 1,592 | |
Long-term debt, Fair Value | 6,250 | 1,750 | 2,960 | |
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets, Fair Value | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | 0 | |
Time deposits, Fair Value | 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 | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 20,000 | |
Cumulative Average Volume Weighted Average Price Per Share | 15.00% | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 days | |
Shares Issued, Price Per Share | $ 0.11 | |
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 13,250 | |
Restricted Stock Units (RSUs) [Member] | Employees [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 34,000 | |
Non-vested stock awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Allocated Share-based Compensation Expense | $ 107 | $ 135 |
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 1,000 | $ 1,100 |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock Option Exercise Price, Percentage of Excess Amount to Share Price | 15.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | The stock options awarded will vest over five years (one-third three years from the grant date, one-third four years from the grant date and one-third five years from the grant date). | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years |
Segment Information (Details)
Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 19, 2016 | Mar. 21, 2015 | Dec. 26, 2015 | |
Segment Reporting Information [Line Items] | |||
Revenues from external customers | $ 34,568 | $ 33,419 | |
Operating income loss | 2,478 | 4,287 | |
Net income (loss) | 1,697 | 3,497 | |
Total assets | 155,264 | 124,866 | $ 143,737 |
Sporting Goods [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues from external customers | 34,568 | 33,419 | |
Operating income loss | 3,189 | 5,244 | |
Net income (loss) | 1,862 | 3,216 | |
Total assets | 128,209 | 98,470 | |
Corporate Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenues from external customers | 0 | 0 | |
Operating income loss | (711) | (957) | |
Net income (loss) | (165) | 281 | |
Total assets | $ 27,055 | $ 26,396 |
Dividend Payment (Details Textu
Dividend Payment (Details Textual) $ / shares in Units, $ in Millions | 1 Months Ended |
Mar. 21, 2016USD ($)$ / shares | |
Dividend Payment Terms [Line Items] | |
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares | $ 0.11 |
Dividends, Common Stock, Cash (in dollars) | $ | $ 1.6 |
Earnings Per Share (Details)
Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Weighted average common shares outstanding | 14,200 | 14,015 |
Dilutive effect of stock options and restricted stock units | 89 | 235 |
Weighted average common shares outstanding, assuming dilution | 14,289 | 14,250 |
Earnings Per Share (Details Tex
Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 19, 2016 | Mar. 21, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 55,200 | 38,250 |
Acquisition (Details Textual)
Acquisition (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | |||
Jan. 21, 2016 | Mar. 19, 2016 | Dec. 26, 2015 | Mar. 21, 2015 | |
Business Acquisition [Line Items] | ||||
Goodwill | $ 21,456 | $ 20,047 | $ 14,875 | |
Triumph Sports USA, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | $ 1,400 | |||
Goodwill | 1,400 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 1,400 | |||
Business Combination, Consideration Transferred, Total | 10,000 | |||
Payments to Acquire Businesses, Gross | 9,500 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | 500 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 100 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 600 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 6,300 |