Escalade (ESCA) 10-Q 20 Apr 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 25, 2017	Apr. 19, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 25, 2017
Document Fiscal Year Focus	2,017
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		14,346,528

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 25, 2017	Dec. 31, 2016	Mar. 19, 2016
Current Assets:
Cash and cash equivalents	$ 2,536	$ 1,013	$ 3,260
Receivables, less allowance of $1,154; $910; and $1,888; respectively	29,265	35,894	32,469
Inventories	37,194	33,802	37,377
Prepaid expenses	2,885	2,798	1,969
Deferred income tax benefit	0	1,283	1,598
Prepaid income tax	0	833	1,238
TOTAL CURRENT ASSETS	71,880	75,623	77,911
Property, plant and equipment, net	13,527	13,714	14,073
Intangible assets, net	20,912	20,857	22,396
Goodwill	21,548	21,456	21,456
Investments	17,358	19,030	19,315
Other assets	72	81	113
TOTAL ASSETS	145,297	150,761	155,264
Current Liabilities:
Current portion of long-term debt	1,300	1,250	1,910
Trade accounts payable	6,562	4,376	6,470
Accrued liabilities	7,103	12,792	9,796
Income tax payable	105	0	0
TOTAL CURRENT LIABILITIES	15,070	18,418	18,176
Long-term debt	23,000	24,189	32,138
Deferred income tax liability	5,026	6,441	7,200
TOTAL LIABILITIES	43,096	49,048	57,514
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 - 14,345,528; 14,304,959; and 14,254,972; shares respectively	14,346	14,305	14,255
Retained earnings	91,586	91,688	85,992
Accumulated other comprehensive loss	(3,731)	(4,280)	(2,497)
TOTAL STOCKHOLDERS' EQUITY	102,201	101,713	97,750
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 145,297	$ 150,761	$ 155,264

CONSOLIDATED CONDENSED BALANCE3

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 25, 2017	Dec. 31, 2016	Mar. 19, 2016
Receivables allowance (in dollars)	$ 1,154	$ 910	$ 1,888
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	14,345,528	14,304,959	14,254,972
Common stock, shares outstanding	14,345,528	14,304,959	14,254,972

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Net sales	$ 30,812	$ 34,568
Costs and Expenses
Cost of products sold	22,528	23,539
Selling, administrative and general expenses	5,930	7,763
Amortization	358	788
Operating Income	1,996	2,478
Other Income (Expense)
Interest expense	(167)	(164)
Equity in earnings (loss) of affiliates	(52)	49
Gain on bargain purchase	256	0
Other income	4	59
Income Before Income Taxes	2,037	2,422
Provision for Income Taxes	649	725
Net Income	$ 1,388	$ 1,697
Earnings Per Share Data:
Basic earnings per share	$ 0.10	$ 0.12
Diluted earnings per share	0.10	0.12
Diluted Earnings Per Share Data:
Dividends declared	$ 0.115	$ 0.110

CONSOLIDATED CONDENSED STATEME5

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Net Income	$ 1,388	$ 1,697
Foreign currency translation adjustment	549	681
Comprehensive Income	$ 1,937	$ 2,378

CONSOLIDATED CONDENSED STATEME6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Operating Activities:
Net income	$ 1,388	$ 1,697
Depreciation and amortization	901	1,610
Gain on disposal of property and equipment	(4)	(154)
Stock-based compensation	114	107
Gain on bargain purchase	(256)	0
Dividends received from equity method investments	2,168	1,060
Adjustments necessary to reconcile net income to net cash provided by operating activities	1,558	(2,643)
Net cash provided by operating activities	5,869	1,677
Investing Activities:
Purchase of property and equipment	(197)	(546)
Acquisitions	(1,401)	(9,459)
Proceeds from sale of property and equipment	4	193
Net cash used by investing activities	(1,594)	(9,812)
Financing Activities:
Proceeds from issuance of long-term debt	13,954	24,315
Payments on long-term debt	(15,142)	(13,604)
Proceeds from exercise of stock options	86	353
Deferred financing fees	0	(83)
Cash dividends paid	(1,650)	(1,568)
Net cash provided by (used by) financing activities	(2,752)	9,413
Net increase in cash and cash equivalents	1,523	1,278
Cash and cash equivalents, beginning of period	1,013	1,982
Cash and cash equivalents, end of period	2,536	3,260
Supplemental Cash Flows Information
Dividends payable	0	2
Non-Cash Transactions
Note payable for deferred purchase price obligation	$ 50	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 25, 2017
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 31, 2016 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 2016 filed with the Securities and Exchange Commission. 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.

Seasonal Aspects

Seasonal Aspects	3 Months Ended
	Mar. 25, 2017
Accounting Policies [Abstract]
Seasonal Aspects [Text Block]	Note B - Seasonal Aspects The results of operations for the three month periods ended March 25, 2017 and March 19, 2016 are not necessarily indicative of the results to be expected for the full year.

Inventories

Inventories	3 Months Ended
	Mar. 25, 2017
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note C - Inventories In thousands March 25, December 31, March 19, Raw materials $ 4,206 $ 4,781 $ 4,408 Work in progress 4,068 3,671 4,964 Finished goods 28,920 25,350 28,005 $ 37,194 $ 33,802 $ 37,377

Equity Interest Investments

Equity Interest Investments	3 Months Ended
	Mar. 25, 2017
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments Disclosure [Text Block]	Note D – Equity Interest Investments The Company has a 50 10.1 10.8 14.1 4.0 15.1 4.3 50 52 49 March 25, December 31, March 19, In thousands 2017 2016 2016 Current assets $ 27,931 $ 28,322 $ 29,018 Non-current assets 9,539 9,379 10,244 Total assets 37,470 37,701 39,262 Current liabilities 3,642 4,847 3,857 Non-current liabilities 5,376 5,133 6,042 Total liabilities 9,018 9,980 9,899 Net assets $ 28,452 $ 27,721 $ 29,363 Three Months Ended March 25, March 19, 2017 2016 Net sales $ 5,125 $ 5,399 Gross profit 2,278 2,558 Net income (loss) (105) 97

Income Taxes

Income Taxes	3 Months Ended
	Mar. 25, 2017
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. 25, 2017
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 Fair values of cash and cash equivalents approximate cost due to the short period of time to maturity. Long-term Debt Fair values of 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 Prices in Significant Active Markets Significant Other Unobservable March 25, 2017 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 2,536 $ 2,536 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 23,000 $ — $ 23,000 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable December 31, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,013 $ 1,013 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 24,189 $ — $ 24,189 $ — Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant March 19, 2016 Carrying for Identical Observable Inputs Unobservable Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,260 $ 3,260 $ — $ — Financial liabilities Current portion of long-term debt $ 1,910 $ — $ 1,910 $ — Long-term debt $ 32,138 $ — $ 32,138 $ —

Stock Compensation

Stock Compensation	3 Months Ended
	Mar. 25, 2017
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 25, 2017, the Company awarded 14,250 40,782 30 15 0.115 For the three months ended March 25, 2017 and March 19, 2016, the Company recognized stock based compensation expense of $ 114 107 1.0 1.0

Segment Information

Segment Information	3 Months Ended
	Mar. 25, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note H - Segment Information As of and for the Three Months Ended March 25, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 30,812 $ — $ 30,812 Operating income (loss) 2,359 (363) 1,996 Net income (loss) 1,561 (173) 1,388 Total assets $ 125,023 $ 20,274 $ 145,297 As of and for the Three Months Ended March 19, 2016 Sporting In thousands Goods 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

Dividend Payment

Dividend Payment	3 Months Ended
	Mar. 25, 2017
Payments of Dividends [Abstract]
Dividend Payment Terms [Text Block]	Note I – Dividend Payment On March 20, 2017, the Company paid a quarterly dividend of $ 0.115 1.6

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 25, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note J - Earnings Per Share Three Months Ended In thousands March 25, March 19, Weighted average common shares outstanding 14,317 14,200 Dilutive effect of stock options and restricted stock units 40 89 Weighted average common shares outstanding, assuming dilution 14,357 14,289 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 2017 and 2016 were 84,200 55,200

New Accounting Standards and Ch

New Accounting Standards and Changes in Accounting Principles	3 Months Ended
	Mar. 25, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note K – New Accounting Standards and Changes in Accounting Principles 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 25, 2017, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, that are of significance, or potential significance to the Company. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends existing guidance related to accounting for employee share-based payments affecting the income tax consequences of awards, classification of awards as equity or liabilities, and classification on the statement of cash flows. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The new standard requires excess tax benefits and tax deficiencies to be recorded as income tax expense or benefit in the income statement and also requires a policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The Company has elected to account for forfeitures when they actually occur. The new guidance also requires cash paid by an employer when directly withholding shares for tax withholding purposes to be classified in the Consolidated Statement of Cash Flows as a financing activity, which is the classification currently used by the Company. Lastly, the guidance requires that excess tax benefits should be classified along with other income tax cash flows as an operating activity on the statement of cash flows. The Company elected to apply this provision using the prospective transition method. Adoption of this guidance did not impact the presentation of cash flows in the current period. In November 2015, the FASB issued ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. ASU 2015-17 eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company adopted this standard on January 1, 2017 and has elected to apply the requirements prospectively. Comparative financial statements of prior periods have not been retrospectively adjusted. Adoption of this standard did not impact results of operations or cash flows in the current or previous reporting periods.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 25, 2017
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. 25, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note M – Acquisition During the three months ended March 25, 2017, the Company acquired certain assets and liabilities through two acquisitions. These acquisitions, individually and in aggregate, were 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 25, 2017. 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. Total consideration paid for the acquisitions was $ 1.5 1.4 0.1 ASC 805 requires that when fair value of the net assets acquired exceeds the purchase price, resulting in a bargain purchase, the acquirer must reassess the reasonableness of the values assigned to all of the net assets acquired, liabilities assumed and consideration transferred. The Company has performed such assessment and has concluded that the values assigned appear to be reasonable. In thousands Accounts receivable, net $ 852 Inventories, net 737 Other assets 64 Intangible assets 413 Total fair value of assets acquired 2,066 Total liabilities assumed (563) Net assets acquired 1,503 Total consideration paid (1,101) Gain before deferred income tax liability 402 Income tax liability – deferred (146) Gain on bargain purchase $ 256 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 inventory, intangible assets, deferred income taxes and residual gain on bargain purchase. Any changes during the measurement period may have an impact on the allocation of the purchase price presented in the table above.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 25, 2017
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 31, 2016 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 2016 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. 25, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	In thousands March 25, December 31, March 19, Raw materials $ 4,206 $ 4,781 $ 4,408 Work in progress 4,068 3,671 4,964 Finished goods 28,920 25,350 28,005 $ 37,194 $ 33,802 $ 37,377

Equity Interest Investments (Ta

Equity Interest Investments (Tables)	3 Months Ended
	Mar. 25, 2017
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 25, 2017, December 31, 2016, and March 19, 2016 and statements of operations for the three months ended March 25, 2017 and March 19, 2016 is as follows: March 25, December 31, March 19, In thousands 2017 2016 2016 Current assets $ 27,931 $ 28,322 $ 29,018 Non-current assets 9,539 9,379 10,244 Total assets 37,470 37,701 39,262 Current liabilities 3,642 4,847 3,857 Non-current liabilities 5,376 5,133 6,042 Total liabilities 9,018 9,980 9,899 Net assets $ 28,452 $ 27,721 $ 29,363
Schedule of Joint Ventures Income Statement Information [Table Text Block]	Three Months Ended March 25, March 19, 2017 2016 Net sales $ 5,125 $ 5,399 Gross profit 2,278 2,558 Net income (loss) (105) 97

Fair Values of Financial Inst23

Fair Values of Financial Instruments (Tables)	3 Months Ended
	Mar. 25, 2017
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 25, 2017, December 31, 2016 and March 19, 2016. Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable March 25, 2017 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 2,536 $ 2,536 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 23,000 $ — $ 23,000 $ — Fair Value Measurements Using Quoted Prices in Significant Active Markets Significant Other Unobservable December 31, 2016 Carrying for Identical Observable Inputs Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 1,013 $ 1,013 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 24,189 $ — $ 24,189 $ — Fair Value Measurements Using Quoted Prices in Active Markets Significant Other Significant March 19, 2016 Carrying for Identical Observable Inputs Unobservable Inputs In thousands Amount Assets (Level 1) (Level 2) (Level 3) Financial assets Cash and cash equivalents $ 3,260 $ 3,260 $ — $ — Financial liabilities Current portion of long-term debt $ 1,910 $ — $ 1,910 $ — Long-term debt $ 32,138 $ — $ 32,138 $ —

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 25, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	As of and for the Three Months Ended March 25, 2017 Sporting In thousands Goods Corp. Total Revenues from external customers $ 30,812 $ — $ 30,812 Operating income (loss) 2,359 (363) 1,996 Net income (loss) 1,561 (173) 1,388 Total assets $ 125,023 $ 20,274 $ 145,297 As of and for the Three Months Ended March 19, 2016 Sporting In thousands Goods 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

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 25, 2017
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 In thousands March 25, March 19, Weighted average common shares outstanding 14,317 14,200 Dilutive effect of stock options and restricted stock units 40 89 Weighted average common shares outstanding, assuming dilution 14,357 14,289

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 25, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following table summarizes the allocation of the purchase price for the acquisition that resulted in a bargain purchase: In thousands Accounts receivable, net $ 852 Inventories, net 737 Other assets 64 Intangible assets 413 Total fair value of assets acquired 2,066 Total liabilities assumed (563) Net assets acquired 1,503 Total consideration paid (1,101) Gain before deferred income tax liability 402 Income tax liability – deferred (146) Gain on bargain purchase $ 256

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 25, 2017	Dec. 31, 2016	Mar. 19, 2016
Inventory [Line Items]
Raw materials	$ 4,206	$ 4,781	$ 4,408
Work in progress	4,068	3,671	4,964
Finished goods	28,920	25,350	28,005
Inventories	$ 37,194	$ 33,802	$ 37,377

Equity Interest Investments (De

Equity Interest Investments (Details) - USD ($) $ in Thousands	Mar. 25, 2017	Dec. 31, 2016	Mar. 19, 2016
Schedule of Equity Method Investments [Line Items]
Current assets	$ 71,880	$ 75,623	$ 77,911
Total assets	145,297	150,761	155,264
Current liabilities	15,070	18,418	18,176
Total liabilities	43,096	49,048	57,514
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	27,931	28,322	29,018
Non-current assets	9,539	9,379	10,244
Total assets	37,470	37,701	39,262
Current liabilities	3,642	4,847	3,857
Non-current liabilities	5,376	5,133	6,042
Total liabilities	9,018	9,980	9,899
Net assets	$ 28,452	$ 27,721	$ 29,363

Equity Interest Investments (29

Equity Interest Investments (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Schedule of Equity Method Investments [Line Items]
Net sales	$ 30,812	$ 34,568
Net income (loss)	1,388	1,697
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	5,125	5,399
Gross profit	2,278	2,558
Net income (loss)	$ (105)	$ 97

Equity Interest Investments (30

Equity Interest Investments (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016	Apr. 19, 2017
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Equity Method Investments	$ (52)	$ 49
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Amortization Of Goodwill	$ 10,100	10,800
Goodwill, Translation Adjustments	14,100	15,100
Cumulative goodwill adjustments, tax effect	4,000	4,300
Income (Loss) from Equity Method Investments	$ (52)	$ 49
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 Inst31

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 25, 2017	Dec. 31, 2016	Mar. 19, 2016	Dec. 26, 2015
Financial assets, Carrying Amount
Cash and cash equivalents, Carrying Amount	$ 2,536	$ 1,013	$ 3,260	$ 1,982
Financial liabilities, Carrying Amount
Current portion of Long-term debt, Carrying Amount	1,300	1,250	1,910
Long-term debt, Carrying Amount	23,000	24,189	32,138
Fair Value, Inputs, Level 1 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	2,536	1,013	3,260
Financial liabilities, Fair Value
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
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value	1,300	1,250	1,910
Long-term debt, Fair Value	23,000	24,189	32,138
Fair Value, Inputs, Level 3 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Financial liabilities, Fair Value
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. 25, 2017	Mar. 19, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative Average Volume Weighted Average Price Per Share	15.00%
Common Stock, Dividends, Per Share, Declared	$ 0.115	$ 0.110
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
Common Stock, Dividends, Per Share, Declared	$ 0.115
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	14,250
Restricted Stock Units (RSUs) [Member] | Employees [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	40,782
Nonvested Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 114	$ 107
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized	$ 1,000	$ 1,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenues from external customers	$ 30,812	$ 34,568
Operating income	1,996	2,478
Net income (loss)	1,388	1,697
Total assets	145,297	155,264	$ 150,761
Sporting Goods [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	30,812	34,568
Operating income	2,359	3,189
Net income (loss)	1,561	1,862
Total assets	125,023	128,209
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	0
Operating income	(363)	(711)
Net income (loss)	(173)	(165)
Total assets	$ 20,274	$ 27,055

Dividend Payment (Details Textu

Dividend Payment (Details Textual) $ / shares in Units, $ in Millions	1 Months Ended
	Mar. 20, 2017USD ($)$ / shares
Dividend Payment Terms [Line Items]
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.115
Dividends, Common Stock, Cash (in dollars) | $	$ 1.6

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares outstanding	14,317	14,200
Dilutive effect of stock options and restricted stock units	40	89
Weighted average common shares outstanding, assuming dilution	14,357	14,289

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	84,200	55,200

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 25, 2017	Mar. 19, 2016
Total consideration paid	$ (1,500)
Gain on bargain purchase	256	$ 0
Acquisition One [Member]
Accounts receivable, net	852
Inventories, net	737
Other assets	64
Intangible assets	413
Total fair value of assets acquired	2,066
Total liabilities assumed	(563)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total	1,503
Total consideration paid	(1,101)
Gain before deferred income tax liability	402
Income tax liability - deferred	(146)
Gain on bargain purchase	$ 256

Acquisition (Details Textual)

Acquisition (Details Textual) $ in Millions	3 Months Ended
	Mar. 25, 2017USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Total	$ 1.5
Payments to Acquire Businesses, Gross	1.4
Business Combination, Consideration Transferred, Liabilities Incurred	$ 0.1