Escalade (ESCA) 10-Q 1 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 06, 2018	Oct. 30, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 6, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Entity Registrant Name	ESCALADE INC
Entity Central Index Key	33,488
Current Fiscal Year End Date	--12-29
Entity Filer Category	Accelerated Filer
Trading Symbol	ESCA
Entity Common Stock, Shares Outstanding		14,439,724
Entity Emerging Growth Company	false
Entity Small Business	true

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 06, 2018	Dec. 30, 2017	Oct. 07, 2017
Current Assets:
Cash and cash equivalents	$ 11,121	$ 1,572	$ 1,646
Receivables, less allowance of $516; $623; and $570; respectively	36,522	39,350	34,774
Inventories	45,660	35,160	42,392
Prepaid expenses	2,982	3,414	3,478
Prepaid income tax	0	764	520
Other current assets	12	0	0
TOTAL CURRENT ASSETS	96,297	80,260	82,810
Property, plant and equipment, net	13,367	14,286	14,215
Intangible assets, net	18,624	19,691	20,058
Goodwill	21,548	21,548	21,548
Investments	0	20,278	19,565
Other assets	0	42	51
TOTAL ASSETS	149,836	156,105	158,247
Current Liabilities:
Current portion of long-term debt	0	1,250	1,300
Trade accounts payable	9,465	4,295	9,935
Accrued liabilities	9,859	13,997	10,777
Income tax payable	1,120	0	0
TOTAL CURRENT LIABILITIES	20,444	19,542	22,012
Other Liabilities:
Long-term debt	0	21,871	24,738
Deferred income tax liability	2,469	2,469	5,375
Other liabilities	503	553	0
TOTAL LIABILITIES	23,416	44,435	52,125
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 – 14,439,724; 14,371,586; and 14,370,586; shares respectively	14,440	14,372	14,371
Retained earnings	111,980	99,908	93,967
Accumulated other comprehensive loss	0	(2,610)	(2,216)
TOTAL STOCKHOLDERS' EQUITY	126,420	111,670	106,122
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 149,836	$ 156,105	$ 158,247

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 06, 2018	Dec. 30, 2017	Oct. 07, 2017
Receivables allowance (in dollars)	$ 516	$ 623	$ 570
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued	0	0	0
Common Stock, Par or Stated Value Per Share	$ 0	$ 0	$ 0
Common stock, shares authorized	30,000,000	30,000,000	30,000,000
Common stock, shares issued	14,439,724	14,371,586	14,370,586
Common stock, shares outstanding	14,439,724	14,371,586	14,370,586

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Net sales	$ 43,955	$ 42,861	$ 124,788	$ 128,648
Costs and Expenses
Cost of products sold	31,646	31,502	91,994	95,927
Selling, administrative and general expenses	6,856	6,866	22,927	22,053
Amortization	319	365	1,067	1,212
Operating Income	5,134	4,128	8,800	9,456
Other Income (Expense)
Interest expense	(35)	(200)	(390)	(601)
Equity in earnings of affiliates	0	615	121	639
Gain on sale of equity method investment (includes ($3,729) of accumulated other comprehensive loss reclassification from foreign currency translation adjustment)	0	0	13,020	0
Gain on bargain purchase	0	0	0	256
Other income (expense)	7	(6)	(92)	(49)
Income Before Income Taxes	5,106	4,537	21,459	9,701
Provision for Income Taxes	1,531	1,419	4,597	3,099
Net Income	$ 3,575	$ 3,118	$ 16,862	$ 6,602
Earnings Per Share Data:
Basic earnings per share	$ 0.248	$ 0.217	$ 1.169	$ 0.460
Diluted earnings per share	0.247	0.217	1.167	0.459
Dividends declared	$ 0.125	$ 0.115	$ 0.375	$ 0.345

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	$ 0	$ 0	$ (3,729)	$ 0

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Net Income	$ 3,575	$ 3,118	$ 16,862	$ 6,602
Foreign currency translation adjustment before reclassification	0	444	(1,119)	2,064
Amounts reclassified from comprehensive income due to divestiture of equity investment	0	0	3,729	0
Comprehensive Income	$ 3,575	$ 3,562	$ 19,472	$ 8,666

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017
Operating Activities:
Net income	$ 16,862	$ 6,602
Depreciation and amortization	3,056	3,167
Gain on disposal of property and equipment	0	(4)
Stock-based compensation	468	391
Gain on sale of equity method investment	(13,020)	0
Gain on insurance proceeds received for damage to property	(241)	0
Gain on bargain purchase	0	(256)
Dividends received from equity method investments	2,323	2,168
Adjustments necessary to reconcile net income to net cash provided by operating activities	(4,464)	(3,640)
Net cash provided by operating activities	4,984	8,428
Investing Activities:
Purchase of property and equipment	(1,846)	(2,298)
Acquisitions	0	(1,401)
Proceeds from sale of equity investment	33,705	0
Insurance proceeds received for damage to property	1,018	0
Proceeds from sale of property and equipment	0	4
Net cash provided (used) by investing activities	32,877	(3,695)
Financing Activities:
Proceeds from issuance of long-term debt	21,873	44,495
Payments on long-term debt	(44,994)	(43,946)
Proceeds from exercise of stock options	54	153
Cash dividends paid	(5,410)	(4,954)
Director stock compensation	165	152
Net cash used by financing activities	(28,312)	(4,100)
Net increase in cash and cash equivalents	9,549	633
Cash and cash equivalents, beginning of period	1,572	1,013
Cash and cash equivalents, end of period	11,121	1,646
Non-Cash Transactions
Note payable for deferred purchase price obligation	$ 0	$ 50

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 06, 2018
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 30, 2017 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 2017 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	9 Months Ended
	Oct. 06, 2018
Accounting Policies [Abstract]
Seasonal Aspects [Text Block]	Note B - Seasonal Aspects The results of operations for the three and nine month periods ended October 6, 2018 and October 7, 2017 are not necessarily indicative of the results to be expected for the full year.

Inventories

Inventories	9 Months Ended
	Oct. 06, 2018
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note C - Inventories In thousands October 6, 2018 December 30, 2017 October 7, 2017 Raw materials $ 3,760 $ 3,462 $ 4,049 Work in progress 3,051 2,927 3,660 Finished goods 38,849 28,771 34,683 $ 45,660 $ 35,160 $ 42,392

Equity Interest Investments

Equity Interest Investments	9 Months Ended
	Oct. 06, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments Disclosure [Text Block]	Note D – Equity Interest Investments The Company had a 50% interest in a joint venture, Stiga Sports AB (Stiga). The joint venture was accounted for under the equity method of accounting. Stiga, located in Sweden, is a global sporting goods company producing table tennis equipment, snow sleds, and game products. The Company entered into a share purchase agreement for the private sale of the Company’s 50% interest in the Stiga joint venture. On May 17, 2018, the Company completed the sale of its 50% interest for $33.7 million, resulting in a gain on sale of $13.0 million. In conjunction with the sale, the Company entered into a new license agreement with Stiga for the licensing rights to manufacture, market, promote, sell and distribute Stiga-branded table tennis hobby products in the United States, Mexico and Canada. The Company has had the licensing rights for such products since 1995 pursuant to an existing license agreement that continues through December 31, 2018. The new license agreement will go into effect on January 1, 2019. Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using exchange rates in effect at the respective period-end for balance sheet amounts, and using average exchange rates for statement of operations amounts. Financial information for the current year represents the results of Stiga through the sale completion date. The Company’s 50% portion of net income for Stiga, included in equity in earnings of affiliates on the Company’s statements of operations, is as follows: In thousands Three Months Three Months Period from Nine Months Equity in earnings of affiliates $ — $ 615 $ 121 $ 639 Summarized financial information for Stiga Sports AB balance sheets as of December 30, 2017, and October 7, 2017 and statements of operations for the three month period ended October 6, 2018, the period from December 31, 2017 through May 17, 2018, and the three month and nine month periods ended October 7, 2017 is as follows: In thousands December 30, October 7, Current assets $ 30,623 $ 33,874 Non-current assets 10,854 10,645 Total assets 41,477 44,519 Current liabilities 6,897 11,481 Non-current liabilities 5,462 5,556 Total liabilities 12,359 17,037 Net assets $ 29,118 $ 27,482 In thousands Three Months Three Months Period from Nine Months Net sales $ — $ 13,036 $ 12,978 $ 29,333 Gross profit — 6,006 6,019 13,718 Net income — 1,229 241 1,278

Income Taxes

Income Taxes	9 Months Ended
	Oct. 06, 2018
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. During the year ended December 30, 2017, the Company calculated its best estimate of the impact of the Tax Cuts and Jobs Act of 2017 and as a result, recorded $3.0 million of income tax benefits. During the nine month period ended October 6, 2018, the Company continued its work to determine the amount of accumulated foreign earnings and the corresponding foreign tax credit. Based on the work completed, the Company recorded $0.6 million in income tax expense during the three and nine month periods ended October 6, 2018. We do not expect any further changes or adjustments to be made for the accumulated foreign earnings and corresponding foreign tax credit.

Fair Values of Financial Instru

Fair Values of Financial Instruments	9 Months Ended
	Oct. 06, 2018
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. Proceeds from the sale of the Company’s 50% interest in Stiga were used to pay off outstanding debt during the nine months ending October 6, 2018. 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 6, 2018, December 30, 2017 and October 7, 2017. Fair Value Measurements Using October 6, 2018 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 11,121 $ 11,121 $ — $ — Fair Value Measurements Using December 30, 2017 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 1,572 $ 1,572 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 21,871 $ — $ 21,871 $ — Fair Value Measurements Using October 7, 2017 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 1,646 $ 1,646 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 24,738 $ — $ 24,738 $ —

Stock Compensation

Stock Compensation	9 Months Ended
	Oct. 06, 2018
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 nine months ended October 6, 2018 and pursuant to the 2017 Incentive Plan, in lieu of cash payments of director fees, the Company awarded to certain directors 11,530 shares of common stock. During the nine months ended October 6, 2018, the Company awarded 14,250 restricted stock units to directors and 40,278 restricted stock units to employees. The restricted stock units awarded to directors time vest over two years (one-half one year from grant date and one-half two years from grant date) provided that the director is still a director of the Company at the vest date. Director restricted stock units are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. The 2018 restricted stock units awarded to employees fully vest over four years (one-third two years from grant date, one-third three years from grant date and one-third four years from grant date) provided that the employee is still employed by the Company on each applicable vesting date and that the performance criteria related to the market price of the Company’s stock is satisfied. The performance criteria is for any 30 consecutive trading days on the NASDAQ Stock Market (or such other principal securities exchange on which the Company’s shares of common stock are then traded) during the period beginning on the grant date and ending on the fourth anniversary thereof, the cumulative average Volume Weighted Average Price per share is at least 15% higher than the closing price per share on the grant date plus any incremental dividends paid above the current quarterly dividend rate of $0.125 per share by the Company during such four year period. If the performance criteria is not satisfied as of an applicable vesting date, then one-half of the RSUs eligible to vest on that date will vest and the remaining one-half will vest if, and only if, the performance criteria is met prior to the end of the four year vesting period. The Company utilizes the Monte Carlo technique to determine the fair value of restricted stock units granted for awards with market conditions. For the three and nine months ended October 6, 2018, including expense associated with issuing certain directors stock in lieu of cash for certain director fees, the Company recognized stock based compensation expense of $98 thousand and $633 thousand, respectively compared to stock based compensation expense of $103 thousand and $543 thousand for the same periods in the prior year. At October 6, 2018 and October 7, 2017, respectively, there was $0.7 million and $0.6 million in unrecognized stock-based compensation expense related to non-vested stock awards.

Segment Information

Segment Information	9 Months Ended
	Oct. 06, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note H - Segment Information For the Three Months Ended October 6, 2018 In thousands Sporting Goods Corp. Total Revenues from external customers $ 43,955 $ — $ 43,955 Operating income (loss) 5,483 (349 ) 5,134 Net income (loss) 3,957 (382 ) 3,575 As of and for the Nine Months Ended October 6, 2018 In thousands Sporting Goods Corp. Total Revenues from external customers $ 124,788 $ — $ 124,788 Operating income (loss) 10,044 (1,244 ) 8,800 Net income 7,026 9,836 16,862 Total assets $ 138,286 $ 11,550 $ 149,836 For the Three Months Ended October 7, 2017 In thousands Sporting Goods Corp. Total Revenues from external customers $ 42,861 $ — $ 42,861 Operating income (loss) 5,046 (918 ) 4,128 Net income 2,834 284 3,118 As of and for the Nine Months Ended October 7, 2017 In thousands Sporting Goods Corp. Total Revenues from external customers $ 128,648 $ — $ 128,648 Operating income (loss) 11,215 (1,759 ) 9,456 Net income 6,233 369 6,602 Total assets $ 135,574 $ 22,673 $ 158,247

Dividend Payment

Dividend Payment	9 Months Ended
	Oct. 06, 2018
Payments of Dividends [Abstract]
Dividend Payment Terms [Text Block]	Note I – Dividend Payment On September 17, 2018, the Company paid a quarterly dividend of $0.125 per common share to all shareholders of record on September 10, 2018. The total amount of the dividend was approximately $1.8 million and was charged against retained earnings. On June 14, 2018, the Company paid a quarterly dividend of $0.125 per common share to all shareholders of record on June 7, 2018. The total amount of the dividend was approximately $1.8 million and was charged against retained earnings. On March 19, 2018, the Company paid a quarterly dividend of $0.125 per common share to all shareholders of record on March 12, 2018. The total amount of the dividend was approximately $1.8 million and was charged against retained earnings.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 06, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note J - Earnings Per Share The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended In thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Weighted average common shares outstanding 14,440 14,367 14,417 14,347 Dilutive effect of stock options and restricted stock units 29 33 30 33 Weighted average common shares outstanding, assuming dilution 14,469 14,400 14,447 14,380 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 2018 and 2017 were 69,531 and 77,600, respectively.

New Accounting Standards and Ch

New Accounting Standards and Changes in Accounting Principles	9 Months Ended
	Oct. 06, 2018
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 and nine month periods ended October 6, 2018, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2017, that are of significance, or potential significance to the Company. In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU) 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, with early adoption permitted, including adoption in any interim period for which financial statements have not yet been issued. The Company adopted this standard on December 31, 2017. The adoption of this ASU did not have an impact on our condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) to clarify the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017 including interim periods within those fiscal years. The Company adopted this standard on December 31, 2017. The adoption did not have any impact on our condensed consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new standard is in response to current diversity in practice and will make eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 including interim periods within those fiscal years, with early adoption permitted. The Company adopted this standard on December 31, 2017. The adoption of this ASU did not have any impact on our consolidated condensed statements of cash flows. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive revenue model for entities to use in accounting for revenue arising from contracts with customers. The guidance supersedes most current revenue recognition guidance, including industry-specific guidance, and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 is effective for fiscal years beginning after December 15, 2017 including interim periods within those fiscal years, with early adoption permitted for periods beginning after December 15, 2016. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (modified retrospective method). In 2016, the FASB issued further guidance that offers narrow scope improvements and clarifies certain implementation issues related to revenue recognition, including principal versus agent considerations and the identification of performance obligations and licensing. These additional updates have the same effective date as the new revenue guidance. The Company adopted this standard on December 31, 2017 using the modified retrospective method. The adoption of this standard did not impact the timing of revenue recognition for our customer sales. We do not incur significant costs to obtain or to fulfill revenue contracts. For the Company, the most significant impact of the new standard is the requirement for enhanced footnote disclosures. Refer to Note L for disclosure requirements related to the adoption of this standard.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Oct. 06, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note L – Revenue from Contracts with Customers Revenue Recognition – Effective December 31, 2017, we adopted ASC 606. The adoption of this standard did not impact the timing of revenue recognition for customer sales. Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our goods at a point in time based on shipping terms and transfer of title. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Shipping and handling fees charged to customers are reported within revenue. Gross-to-net sales adjustments – We recognize revenue net of various sales adjustments to arrive at net sales as reported on the statement of operations. These adjustments are referred to as gross-to-net sales adjustments and primarily fall into one of three categories; returns, warranties and customer allowances. Returns – The Company records an accrued liability and reduction in sales for estimated product returns based upon historical experience. An accrued liability and reduction in sales is also recorded for approved return authorizations that have been communicated by the customer. Warranties – Limited warranties are provided on certain products for varying periods. We record an accrued liability and reduction in sales for estimated future warranty claims based upon historical experience and management’s estimate of the level of future claims. Changes in the estimated amounts recognized in prior years are recorded as an adjustment to the accrued liability and sales in the current year. Customer Allowances – Customer allowances are common practice in the industries in which the Company operates. These agreements are typically in the form of advertising subsidies, volume rebates and catalog allowances and are accounted for as a reduction to gross sales. The Company reviews such allowances on an ongoing basis and accruals are adjusted, if necessary, as additional information becomes available. Disaggregation of Revenue – We generate revenue from the sale of widely recognized sporting goods brands in basketball goals, archery, indoor and outdoor game recreation and fitness products. These products are sold through multiple sales channels that include; mass merchants, specialty dealers, key on-line retailers (“E-commerce”) and international. The following table depicts the disaggregation of revenue according to sales channel: Three Months Ended Nine Months Ended All Amounts in Thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Gross Sales by Channel: Mass Merchants $ 20,074 $ 22,247 $ 52,767 $ 60,510 Specialty Dealers 11,954 12,418 43,915 43,756 E-commerce 13,806 10,490 34,060 31,994 International 1,684 1,568 6,266 4,512 Other 663 58 1,200 347 Total Gross Sales 48,181 46,781 138,208 141,119 Less: Gross-to-Net Sales Adjustments Returns 1,315 1,074 3,513 3,445 Warranties 289 245 1,090 566 Customer Allowances 2,622 2,601 8,817 8,460 Total Gross-to-Net Sales Adjustments 4,226 3,920 13,420 12,471 Total Net Sales $ 43,955 $ 42,861 $ 124,788 $ 128,648 Contract Balances – The following table provides information on changes in our contract liability balances during the three and nine month periods ending October 6, 2018 and October 7, 2017. The contract liability recorded during the nine month periods ending October 6, 2018 is related to a lump sum payment received for consulting services to be provided over the next year. The contract liability will be amortized, and revenues recognized, evenly over the year. At October 6, 2018, the contract liability balance was $671 and was reported within Accrued liabilities in our Consolidated Condensed Balance Sheet. Three Months Ended Nine Months Ended All Amounts in Thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Increase due to cash received, excluding amounts recognized as revenue during the period $ - $ - $ 671 $ - Revenue recognized that was included in the contract liability balance at the beginning of the period 259 - - - Increase (decrease) in contract liability during the period $ (259 ) $ - $ 671 $ -

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 06, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Note M – Commitments and Contingencies The Company is involved in litigation arising in the normal course of business. The Company does not believe that the disposition or ultimate resolution of existing claims or lawsuits will have a material adverse effect on the business or financial condition of the Company.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 06, 2018
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 30, 2017 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 2017 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)	9 Months Ended
	Oct. 06, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	In thousands October 6, 2018 December 30, 2017 October 7, 2017 Raw materials $ 3,760 $ 3,462 $ 4,049 Work in progress 3,051 2,927 3,660 Finished goods 38,849 28,771 34,683 $ 45,660 $ 35,160 $ 42,392

Equity Interest Investments (Ta

Equity Interest Investments (Tables)	9 Months Ended
	Oct. 06, 2018
Equity Method Investments [Table Text Block]	Summarized financial information for Stiga Sports AB balance sheets as of December 30, 2017, and October 7, 2017 and statements of operations for the three month period ended October 6, 2018, the period from December 31, 2017 through May 17, 2018, and the three month and nine month periods ended October 7, 2017 is as follows: In thousands December 30, October 7, Current assets $ 30,623 $ 33,874 Non-current assets 10,854 10,645 Total assets 41,477 44,519 Current liabilities 6,897 11,481 Non-current liabilities 5,462 5,556 Total liabilities 12,359 17,037 Net assets $ 29,118 $ 27,482
Schedule Of Joint Ventures Income Statement Information [Table Text Block]	In thousands Three Months Three Months Period from Nine Months Net sales $ — $ 13,036 $ 12,978 $ 29,333 Gross profit — 6,006 6,019 13,718 Net income — 1,229 241 1,278
Stiga Sports B [Member]
Schedule Of Joint Ventures Income Statement Information [Table Text Block]	Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using exchange rates in effect at the respective period-end for balance sheet amounts, and using average exchange rates for statement of operations amounts. Financial information for the current year represents the results of Stiga through the sale completion date. The Company’s 50% portion of net income for Stiga, included in equity in earnings of affiliates on the Company’s statements of operations, is as follows: In thousands Three Months Three Months Period from Nine Months Equity in earnings of affiliates $ — $ 615 $ 121 $ 639

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	9 Months Ended
	Oct. 06, 2018
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 6, 2018, December 30, 2017 and October 7, 2017. Fair Value Measurements Using October 6, 2018 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 11,121 $ 11,121 $ — $ — Fair Value Measurements Using December 30, 2017 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 1,572 $ 1,572 $ — $ — Financial liabilities Current portion of long-term debt $ 1,250 $ — $ 1,250 $ — Long-term debt $ 21,871 $ — $ 21,871 $ — Fair Value Measurements Using October 7, 2017 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 1,646 $ 1,646 $ — $ — Financial liabilities Current portion of long-term debt $ 1,300 $ — $ 1,300 $ — Long-term debt $ 24,738 $ — $ 24,738 $ —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 06, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended October 6, 2018 In thousands Sporting Goods Corp. Total Revenues from external customers $ 43,955 $ — $ 43,955 Operating income (loss) 5,483 (349 ) 5,134 Net income (loss) 3,957 (382 ) 3,575 As of and for the Nine Months Ended October 6, 2018 In thousands Sporting Goods Corp. Total Revenues from external customers $ 124,788 $ — $ 124,788 Operating income (loss) 10,044 (1,244 ) 8,800 Net income 7,026 9,836 16,862 Total assets $ 138,286 $ 11,550 $ 149,836 For the Three Months Ended October 7, 2017 In thousands Sporting Goods Corp. Total Revenues from external customers $ 42,861 $ — $ 42,861 Operating income (loss) 5,046 (918 ) 4,128 Net income 2,834 284 3,118 As of and for the Nine Months Ended October 7, 2017 In thousands Sporting Goods Corp. Total Revenues from external customers $ 128,648 $ — $ 128,648 Operating income (loss) 11,215 (1,759 ) 9,456 Net income 6,233 369 6,602 Total assets $ 135,574 $ 22,673 $ 158,247

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 06, 2018
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 In thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Weighted average common shares outstanding 14,440 14,367 14,417 14,347 Dilutive effect of stock options and restricted stock units 29 33 30 33 Weighted average common shares outstanding, assuming dilution 14,469 14,400 14,447 14,380

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Oct. 06, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table depicts the disaggregation of revenue according to sales channel: Three Months Ended Nine Months Ended All Amounts in Thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Gross Sales by Channel: Mass Merchants $ 20,074 $ 22,247 $ 52,767 $ 60,510 Specialty Dealers 11,954 12,418 43,915 43,756 E-commerce 13,806 10,490 34,060 31,994 International 1,684 1,568 6,266 4,512 Other 663 58 1,200 347 Total Gross Sales 48,181 46,781 138,208 141,119 Less: Gross-to-Net Sales Adjustments Returns 1,315 1,074 3,513 3,445 Warranties 289 245 1,090 566 Customer Allowances 2,622 2,601 8,817 8,460 Total Gross-to-Net Sales Adjustments 4,226 3,920 13,420 12,471 Total Net Sales $ 43,955 $ 42,861 $ 124,788 $ 128,648
Contract with Customer, Asset and Liability [Table Text Block]	Three Months Ended Nine Months Ended All Amounts in Thousands October 6, 2018 October 7, 2017 October 6, 2018 October 7, 2017 Increase due to cash received, excluding amounts recognized as revenue during the period $ - $ - $ 671 $ - Revenue recognized that was included in the contract liability balance at the beginning of the period 259 - - - Increase (decrease) in contract liability during the period $ (259 ) $ - $ 671 $ -

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 06, 2018	Dec. 30, 2017	Oct. 07, 2017
Inventory [Line Items]
Raw materials	$ 3,760	$ 3,462	$ 4,049
Work in progress	3,051	2,927	3,660
Finished goods	38,849	28,771	34,683
Inventories	$ 45,660	$ 35,160	$ 42,392

Equity Interest Investments (De

Equity Interest Investments (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	May 17, 2018	Oct. 06, 2018	Oct. 07, 2017
Schedule of Equity Method Investments [Line Items]
Equity in earnings of affiliates	$ 0	$ 615		$ 121	$ 639
Stiga Sports B [Member]
Schedule of Equity Method Investments [Line Items]
Equity in earnings of affiliates	$ 0	$ 615	$ 121		$ 639

Equity Interest Investments (_2

Equity Interest Investments (Details 1) - USD ($) $ in Thousands	Oct. 06, 2018	Dec. 30, 2017	Oct. 07, 2017
Schedule of Equity Method Investments [Line Items]
Current assets	$ 96,297	$ 80,260	$ 82,810
Total assets	149,836	156,105	158,247
Current liabilities	20,444	19,542	22,012
Total liabilities	$ 23,416	44,435	52,125
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Current assets		30,623	33,874
Non-current assets		10,854	10,645
Total assets		41,477	44,519
Current liabilities		6,897	11,481
Non-current liabilities		5,462	5,556
Total liabilities		12,359	17,037
Net assets		$ 29,118	$ 27,482

Equity Interest Investments (_3

Equity Interest Investments (Details 2) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	May 17, 2018	Oct. 06, 2018	Oct. 07, 2017
Schedule of Equity Method Investments [Line Items]
Net sales	$ 43,955	$ 42,861		$ 124,788	$ 128,648
Net income	3,575	3,118		$ 16,862	6,602
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	0	13,036	$ 12,978		29,333
Gross profit	0	6,006	6,019		13,718
Net income	$ 0	$ 1,229	$ 241		$ 1,278

Equity Interest Investments (_4

Equity Interest Investments (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 17, 2018	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Schedule of Equity Method Investments [Line Items]
Proceeds from Sale of Equity Method Investments	$ 33,700			$ 33,705	$ 0
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 13,000	$ 0	$ 0	$ 13,020	$ 0
Stiga Sports AB [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%	50.00%		50.00%
Stiga Sports AB [Member] | Parent [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 06, 2018	Oct. 06, 2018	Dec. 30, 2017
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	$ 0.6	$ 0.6	$ (3)

Fair Values of Financial Inst_3

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Oct. 06, 2018	Dec. 30, 2017	Oct. 07, 2017
Financial assets, Carrying Amount
Cash and cash equivalents, Carrying Amount	$ 11,121	$ 1,572	$ 1,646
Financial liabilities, Carrying Amount
Current portion of Long-term debt, Carrying Amount		1,250	1,300
Long-term debt, Carrying Amount	0	21,871	24,738
Fair Value, Inputs, Level 1 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	11,121	1,572	1,646
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value		0	0
Long-term debt, Fair Value		0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets, Fair Value
Cash and cash equivalents, Fair Value	0	0	0
Financial liabilities, Fair Value
Current portion of Long-term debt, Fair Value		1,250	1,300
Long-term debt, Fair Value		21,871	24,738
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
Long-term debt, Fair Value		$ 0	$ 0

Fair Values of Financial Inst_4

Fair Values of Financial Instruments (Details Textual)	Oct. 06, 2018	May 17, 2018
Stiga Sports B [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity Method Investment, Ownership Percentage	50.00%	50.00%

Stock Compensation (Details Tex

Stock Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
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	$ 0.125	$ 0.115	$ 0.375	$ 0.345
Incentive Plan 2007 [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			11,530
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
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			40,278
Nonvested Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 98	$ 103	$ 633	$ 543
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized	$ 700	$ 600	$ 700	$ 600

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017	Dec. 30, 2017
Segment Reporting Information [Line Items]
Revenues from external customers	$ 43,955	$ 42,861	$ 124,788	$ 128,648
Operating income (loss)	5,134	4,128	8,800	9,456
Net income (loss)	3,575	3,118	16,862	6,602
Total assets	149,836	158,247	149,836	158,247	$ 156,105
Sporting Goods [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	43,955	42,861	124,788	128,648
Operating income (loss)	5,483	5,046	10,044	11,215
Net income (loss)	3,957	2,834	7,026	6,233
Total assets	138,286	135,574	138,286	135,574
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	0	0	0	0
Operating income (loss)	(349)	(918)	(1,244)	(1,759)
Net income (loss)	(382)	284	9,836	369
Total assets	$ 11,550	$ 22,673	$ 11,550	$ 22,673

Dividend Payment (Details Textu

Dividend Payment (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Sep. 17, 2018	Jun. 14, 2018	Mar. 19, 2018
Dividend Payment Terms [Line Items]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.125	$ 0.125	$ 0.125
Dividends, Common Stock, Cash (in dollars)	$ 1.8	$ 1.8	$ 1.8

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares outstanding	14,440	14,367	14,417	14,347
Dilutive effect of stock options and restricted stock units	29	33	30	33
Weighted average common shares outstanding, assuming dilution	14,469	14,400	14,447	14,380

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	69,531	77,600

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 48,181	$ 46,781	$ 138,208	$ 141,119
Sales Returns And Allowance Goods [Abstract]
Returns	1,315	1,074	3,513	3,445
Warranties	289	245	1,090	566
Customer Allowances	2,622	2,601	8,817	8,460
Total Gross-to-Net Sales Adjustments	4,226	3,920	13,420	12,471
Total Net Sales	43,955	42,861	124,788	128,648
Mass Merchants [Member]
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	20,074	22,247	52,767	60,510
Specialty Dealers [Member]
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	11,954	12,418	43,915	43,756
E-commerce [Member]
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	13,806	10,490	34,060	31,994
International [Member]
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	1,684	1,568	6,266	4,512
Other [Member]
Gross Sales by Channel:
Revenue from Contract with Customer, Excluding Assessed Tax	$ 663	$ 58	$ 1,200	$ 347

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 06, 2018	Oct. 07, 2017	Oct. 06, 2018	Oct. 07, 2017
Increase due to cash received, excluding amounts recognized as revenue during the period	$ 0	$ 0	$ 671	$ 0
Revenue recognized that was included in the contract liability balance at the beginning of the period	259	0	0	0
Increase in contract liability during the period	$ (259)	$ 0	$ 671	$ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Details Textual) $ in Thousands	Oct. 06, 2018USD ($)
Contract with Customer, Liability, Current	$ 671