Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 26, 2020 | Feb. 15, 2021 | Jul. 11, 2020 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000033488 | ||
Entity Registrant Name | ESCALADE INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-26 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 26, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 0-6966 | ||
Entity Incorporation, State or Country Code | IN | ||
Entity Tax Identification Number | 13-2739290 | ||
Entity Address, Address Line One | 817 Maxwell Ave | ||
Entity Address, City or Town | Evansville | ||
Entity Address, State or Province | IN | ||
Entity Address, Postal Zip Code | 47711 | ||
City Area Code | 812 | ||
Local Phone Number | 467-1358 | ||
Title of 12(b) Security | Common Stock, No Par Value | ||
Trading Symbol | ESCA | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 143,976,960 | ||
Entity Common Stock, Shares Outstanding | 13,898,253 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 3,505 | $ 5,882 |
Receivables, less allowances of $896 and $483; respectively | 65,280 | 35,450 |
Inventories | 72,488 | 42,269 |
Prepaid expenses | 4,068 | 3,151 |
Prepaid income tax | 57 | 163 |
TOTAL CURRENT ASSETS | 145,398 | 86,915 |
Property, plant and equipment, net | 18,232 | 15,111 |
Operating lease right-of-use assets | 1,608 | 1,080 |
Intangible assets | 22,645 | 18,847 |
Goodwill | 32,695 | 26,749 |
Other assets | 127 | 77 |
TOTAL ASSETS | 220,705 | 148,779 |
Current liabilities: | ||
Note payable | 0 | 135 |
Trade accounts payable | 20,947 | 7,765 |
Accrued liabilities | 24,271 | 9,689 |
Current operating lease liabilities | 854 | 621 |
TOTAL CURRENT LIABILITIES | 46,072 | 18,210 |
Long-term debt | 30,073 | 0 |
Deferred income tax liability | 4,193 | 3,537 |
Long-term operating lease liabilities | 763 | 475 |
Other liabilities | 448 | 387 |
TOTAL LIABILITIES | 81,549 | 22,609 |
Commitments and contingencies | 0 | 0 |
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: 2020 —13,919,380 shares, 2019 —14,214,777 shares | 13,919 | 14,215 |
Retained earnings | 125,237 | 111,955 |
TOTAL STOCKHOLDERS’ EQUITY | 139,156 | 126,170 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 220,705 | $ 148,779 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Receivables, allowance | $ 896 | $ 483 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 13,919,380 | 14,214,777 |
Common stock, shares outstanding (in shares) | 13,919,380 | 14,214,777 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net sales | $ 273,649 | $ 180,541 | $ 175,780 |
Costs and Expenses | |||
Cost of products sold | 198,822 | 138,181 | 130,750 |
Selling, administrative and general expenses | 40,315 | 31,616 | 29,807 |
Amortization | 1,480 | 1,469 | 1,406 |
Operating Income | 33,032 | 9,275 | 13,817 |
Other Income (Expense) | |||
Interest expense | (250) | (356) | (427) |
Equity in earnings of affiliates | 0 | 0 | 121 |
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 |
Other income (expense) | 140 | 15 | (89) |
Income Before Income Taxes | 32,922 | 8,934 | 26,442 |
Provision for Income Taxes | 6,988 | 1,676 | 6,000 |
Net Income | $ 25,934 | $ 7,258 | $ 20,442 |
Earnings Per Share Data: | |||
Basic earnings per share (in dollars per share) | $ 1.84 | $ 0.50 | $ 1.42 |
Diluted earnings per share (in dollars per share) | $ 1.82 | $ 0.50 | $ 1.41 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Accumulated other comprehensive loss reclassification from foreign currency translation adjustment | $ 0 | $ 0 | $ (3,729) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net Income | $ 25,934 | $ 7,258 | $ 20,442 |
Foreign currency translation adjustment before reclassifications | 0 | 0 | (1,119) |
Amounts reclassified from comprehensive income due to divestiture of equity investment | 0 | 0 | 3,729 |
Comprehensive Income | $ 25,934 | $ 7,258 | $ 23,052 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Dec. 30, 2017 | 14,372,000 | |||
Balances at Dec. 30, 2017 | $ 14,372 | $ 99,908 | $ (2,610) | $ 111,670 |
Other comprehensive income | 2,610 | 2,610 | ||
Net Income | 20,442 | 20,442 | ||
Expense of stock options and restricted stock units | 604 | $ 604 | ||
Exercise of stock options (in shares) | 9,000 | 9,250 | ||
Exercise of stock options | $ 9 | 45 | $ 54 | |
Settlement of restricted stock units (in shares) | 47,000 | |||
Settlement of restricted stock units | $ 47 | (47) | 0 | |
Dividends declared | (7,215) | (7,215) | ||
Stock issued to directors as compensation (in shares) | 12,000 | |||
Stock issued to directors as compensation | $ 12 | 154 | 166 | |
Purchase of stock (in shares) | (1,000) | |||
Purchase of stock | $ (1) | (9) | (10) | |
Balances (in shares) at Dec. 29, 2018 | 14,439,000 | |||
Balances at Dec. 29, 2018 | $ 14,439 | 113,882 | 0 | 128,321 |
Net Income | 7,258 | 7,258 | ||
Expense of stock options and restricted stock units | 513 | $ 513 | ||
Exercise of stock options (in shares) | 10,000 | 10,000 | ||
Exercise of stock options | $ 10 | 108 | $ 118 | |
Settlement of restricted stock units (in shares) | 29,000 | |||
Settlement of restricted stock units | $ 29 | (29) | 0 | |
Dividends declared | (7,204) | (7,204) | ||
Stock issued to directors as compensation (in shares) | 9,000 | |||
Stock issued to directors as compensation | $ 9 | 93 | 102 | |
Purchase of stock (in shares) | (272,000) | |||
Purchase of stock | $ (272) | (2,938) | ||
Balances (in shares) at Dec. 28, 2019 | 14,215,000 | |||
Balances at Dec. 28, 2019 | $ 14,215 | 111,955 | 126,170 | |
Net Income | 25,934 | 25,934 | ||
Expense of stock options and restricted stock units | 1,016 | $ 1,016 | ||
Exercise of stock options (in shares) | 10,000 | 10,000 | ||
Exercise of stock options | $ 10 | 134 | $ 144 | |
Settlement of restricted stock units (in shares) | 55,000 | |||
Settlement of restricted stock units | $ 55 | (55) | 0 | |
Dividends declared | (7,466) | (7,466) | ||
Stock issued to directors as compensation (in shares) | 10,000 | |||
Stock issued to directors as compensation | $ 10 | 87 | 97 | |
Purchase of stock (in shares) | (406,000) | |||
Purchase of stock | $ (406) | (6,333) | (6,739) | |
Issuance of restricted stock awards (in shares) | 35,000 | |||
Issuance of restricted stock awards | $ 35 | (35) | 0 | |
Balances (in shares) at Dec. 26, 2020 | 13,919,000 | |||
Balances at Dec. 26, 2020 | $ 13,919 | $ 125,237 | $ 0 | $ 139,156 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Operating Activities: | |||
Net Income | $ 25,934 | $ 7,258 | $ 20,442 |
Reconciling adjustments: | |||
Depreciation and amortization | 4,016 | 4,031 | 3,857 |
Provision for doubtful accounts | 473 | 322 | 155 |
Stock option and restricted stock unit expense | 1,016 | 513 | 604 |
Equity in net income of joint venture investments | 0 | 0 | (121) |
Deferred income taxes | 656 | 128 | 940 |
Gain on sale of equity method investment | 0 | 0 | (13,020) |
Gain on insurance proceeds received for damage to property | 0 | 0 | (377) |
Loss (gain) on disposals of assets | (2) | 7 | 0 |
Dividends received from equity method investments | 0 | 0 | 2,323 |
Changes in | |||
Accounts receivable | (29,905) | 4,911 | (1,140) |
Inventories | (26,422) | (3,147) | (3,359) |
Prepaids and other assets | (42) | 1,971 | 194 |
Accounts payable and accrued expenses | 26,909 | 44 | (3,992) |
Net cash provided by operating activities | 2,633 | 16,038 | 6,506 |
Investing Activities: | |||
Purchase of property and equipment | (5,455) | (2,185) | (2,818) |
Acquisitions | (15,446) | (765) | (7,169) |
Payment on note payable related to an acquisition | (135) | 0 | 0 |
Proceeds from sale of equity investment | 0 | 0 | 33,705 |
Insurance proceeds received for damage to property | 0 | 0 | 1,154 |
Proceeds from sale of property and equipment | 4 | 4 | 0 |
Net cash provided by (used in) investing activities | (21,032) | (2,946) | 24,872 |
Financing Activities: | |||
Dividends paid | (7,466) | (7,204) | (7,215) |
Proceeds from issuance of long-term debt | 84,044 | 77,502 | 28,024 |
Payments on long-term debt | (53,971) | (77,502) | (51,145) |
Proceeds from exercise of stock options | 144 | 118 | 54 |
Deferred financing fees | (87) | (112) | 0 |
Purchase of stock | (6,739) | (2,938) | (10) |
Director stock compensation | 97 | 102 | 166 |
Net cash provided by (used in) financing activities | 16,022 | (10,034) | (30,126) |
Increase (decrease) in Cash and Cash Equivalents | (2,377) | 3,058 | 1,252 |
Cash and Cash Equivalents, beginning of year | 5,882 | 2,824 | 1,572 |
Cash and Cash Equivalents, end of year | 3,505 | 5,882 | 2,824 |
Supplemental Cash Flows Information | |||
Interest paid | 205 | 346 | 423 |
Income taxes paid | 6,205 | 1,383 | 4,844 |
Information regarding the Company’s acquisitions in 2020, 2019 and 2018 are as follows: | |||
Fair value of assets acquired | 16,277 | 900 | 9,285 |
Cash paid for assets | (15,446) | (765) | (7,169) |
Consideration of holdback provision | 0 | 0 | 286 |
Note payable for deferred purchase price obligation | 0 | (135) | 0 |
Liabilities assumed | $ 831 | $ 0 | $ 2,402 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 Nature of Operations Escalade, Incorporated and its wholly-owned subsidiaries (Escalade, the Company, we, us or our) are engaged in the manufacture and sale of sporting goods products. The Company is headquartered in Evansville, Indiana and has manufacturing facilities in the United States of America and Mexico. The Company sells products to customers primarily in North America with minimal sales throughout the remainder of the world. Principles of Consolidation The consolidated financial statements include the accounts of Escalade, Incorporated and its wholly-owned subsidiaries. All material inter-company accounts and transactions have been eliminated. Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The books and records of subsidiaries located in foreign countries are maintained according to generally accepted accounting principles in those countries. Upon consolidation, the Company evaluates the differences in accounting principles and determines whether adjustments are necessary to convert the foreign financial statements to the accounting principles upon which the consolidated financial statements are based. As a result of this evaluation no Fiscal Year End The Company’s fiscal year is a 52 53 December. 2020 52 December 26, 2020. 2019 52 December 28, 2019. 2018 52 December 29, 2018. Cash and Cash Equivalents Highly liquid financial instruments with insignificant interest rate risk and with original maturities of three may December 26, 2020, Accounts Receivable Revenue from the sale of the Company’s products 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. Accounts receivable are stated at the amount billed to customers. Interest and late charges billed to customers are not not not 2 Inventories Inventory cost is computed on a currently adjusted standard cost basis (which approximates actual cost on a current average or first first one 2020 2019, In Thousands 2020 2019 Raw materials $ 9,121 $ 3,186 Work in process 3,538 2,177 Finished goods 59,829 36,906 $ 72,488 $ 42,269 Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation and amortization are computed for financial reporting purposes principally using the straight-line method over the following estimated useful lives: buildings, 20-30 years; leasehold improvements, term of the lease; machinery and equipment, 5-15 years; and tooling, dies and molds, 2-5 years. Property, plant and equipment consist of the following: In Thousands 2020 2019 Land $ 1,943 $ 1,943 Buildings and leasehold improvements 18,798 16,831 Machinery and equipment 28,083 24,721 Total cost 48,824 43,495 Accumulated depreciation and amortization (30,592 ) (28,384 ) $ 18,232 $ 15,111 The Company evaluates the recoverability of certain long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not 2020, 2019, 2018. Investments Non-Marketable Equity Investment : not 20% not 20% not 50%, 2018. 2018. may not Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over fair value of net tangible and identifiable intangible assets of acquired businesses. Intangible assets consist of patents, consulting agreements, non-compete agreements, customer lists, developed technology, license agreements, and trademarks. Goodwill is deemed to have an indefinite life and is not 350 , Intangibles – Goodwill and Other The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not 350, Intangibles – Goodwill and Other first not" Employee Incentive Plan During 2017, 10. 718, Equity Based Payments Foreign Currency Translation The functional currency for the foreign operations of Escalade is the U.S. dollar. Gains or losses resulting from foreign currency transactions are included in selling, general and administrative expense in the Consolidated Statements of Operations and were insignificant in fiscal years 2020, 2019, 2018. Cost of Products Sold Cost of products sold is comprised of those costs directly associated with or allocated to the products sold and include materials, labor and factory overhead. Provision for Income Taxes Income tax in the consolidated statement of operations includes deferred income tax provisions or benefits for all significant temporary differences in recognizing income and expenses for financial reporting and income tax purposes. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not The Company accounts for uncertainty in tax positions by recognizing in its financial statements the impact of a tax position only if that position is more likely than not Research and Development Research and development costs are charged to expense as incurred. Research and development costs incurred during 2020, 2019 2018 New Accounting Pronouncements and Changes in Accounting Principles Standards Adopted: In January 2017, 2017 04, 350 2 not The Company adopted this standard on December 29, 2019. not New Accounting Standards to be Adopted In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 2016 13 December 15, 2020, not November 2019, 2019 10, Financial Instruments – Credit Losses (Topic 326 815 842 2016 13 one 2016 13 December 15, 2022, In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020, |
Note 2 - Certain Significant Es
Note 2 - Certain Significant Estimates | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Note 2 The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities; the disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are evaluated on an ongoing basis and are based on experience; current and expected future conditions; third may Listed below are certain significant estimates and assumptions related to the preparation of the consolidated financial statements: Goodwill and Intangible Assets The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not 350, first not" Other intangible assets are amortized using the straight-line method over the following lives: license agreements, 17 years; developed technology, 5 years; trademarks, 20 years to indefinite life; consulting agreements, the life of the agreement; customer lists, 3 to 14 years; non-compete agreements, the lesser of the term or 5 years; and patents, the lesser of the remaining life or 5 to 15 years. Indefinite-lived intangible assets are reviewed for impairment annually, or whenever events or changes in circumstances indicate the carrying amount of an intangible asset may not Product Warranty The Company provides limited warranties on certain of its products, for varying periods. Generally, the warranty periods range from 30 days to one three five seven ten fifteen In Thousands 2020 2019 2018 Beginning balance $ 688 $ 702 $ 691 Additions 1,648 1,736 1,448 Deductions (1,374 ) (1,750 ) (1,437 ) Ending balance $ 962 $ 688 $ 702 Inventory Valuation Reserves The Company evaluates inventory for obsolescence and excess quantities based on demand forecasts based on specified time frames; usually one In Thousands 2020 2019 2018 Beginning balance $ 786 $ 456 $ 504 Additions 831 756 383 Deductions (920 ) (426 ) (431 ) Ending balance $ 697 $ 786 $ 456 Allowance for Doubtful Accounts The Company provides an allowance for doubtful accounts based upon a review of outstanding receivables, historical collection information and existing economic conditions. Accounts receivable are ordinarily due between 30 60 90 In Thousands 2020 2019 2018 Beginning balance $ 483 $ 532 $ 623 Additions 473 322 155 Deductions (60 ) (371 ) (246 ) Ending balance $ 896 $ 483 $ 532 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. Changes in customer allowances for advertising subsidies, volume rebates and catalog allowances were as follows: In Thousands 2019 2019 2018 Beginning balance $ 1,292 $ 1,550 $ 3,357 Additions 11,940 7,292 6,575 Deductions (10,936 ) (7,550 ) (8,382 ) Ending balance $ 2,296 $ 1,292 $ 1,550 |
Note 3 - Accrued Liabilities
Note 3 - Accrued Liabilities | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 3 Accrued liabilities consist of the following: In Thousands 2020 2019 Employee compensation $ 7,685 $ 1,917 Customer related allowances and accruals 7,532 4,876 Other accrued items 9,054 2,896 $ 24,271 $ 9,689 |
Note 4 - Leases
Note 4 - Leases | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note 4 We have operating leases for office, manufacturing and distribution facilities as well as for certain equipment. Our leases have remaining lease terms of 1 year to 5 years. As of December 26, 2020, not We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities and operating lease liabilities on our consolidated balance sheet. The Company has elected an accounting policy to not one not ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. When the implicit rate of the lease is not may All Amounts in Thousands Twelve Months Ended December 26, 2020 Twelve Months Ended December 28, 2019 Lease Expense Operating Lease Cost $ 828 $ 826 Short-term Lease Cost 973 446 Variable Lease Cost 250 244 Total Operating Lease Cost $ 2,051 $ 1,516 Operating Lease – Operating Cash Flows $ 762 $ 755 New ROU Assets – Operating Leases (non-cash) $ 1,282 $ 867 Other information about lease amounts recognized in our consolidated financial statements is summarized as follows: Period Ended December 26, 2020 Period Ended December 28, 2019 Weighted Average Remaining Lease Term – Operating Leases (in years) 2.24 1.98 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % Future minimum lease payments under non-cancellable leases as of December 26, 2020 All Amounts in Thousands Year 1 $ 910 Year 2 496 Year 3 221 Year 4 56 Year 5 24 Thereafter - Total future minimum lease payments 1,707 Less imputed interest (90 ) Total $ 1,617 Reported as of December 26, 2020 Current operating lease liabilities 854 Long-term operating lease liabilities 763 Total $ 1,617 |
Note 5 - Acquired Intangible As
Note 5 - Acquired Intangible Assets and Goodwill | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5 The carrying basis and accumulated amortization of recognized intangible assets are summarized in the following table: 2020 2019 In Thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents 24,715 23,860 24,515 23,689 Non-compete agreements 2,749 2,749 2,749 2,702 Customer list 18,017 6,669 14,317 5,575 Trademarks 9,736 174 8,359 143 Developed technology 475 206 475 111 License agreements 700 89 700 48 56,392 33,747 51,115 32,268 Amortization expense was $1.5 million, $1.5 million and $1.4 million for 2020, 2019 2018, Estimated future amortization expense is summarized in the following table: In Thousands 2021 2022 2023 2024 2025 Thereafter Sporting Goods 1,866 1,847 1,768 1,644 1,595 6,140 All goodwill is allocated to the operating segment of the business. The changes in the carrying amount of goodwill were: In Thousands Sporting Goods Balance at December 29, 2018 $ 26,381 Acquisition 368 Balance at December 28, 2019 $ 26,749 Acquisition 5,946 Balance at December 26, 2020 $ 32,695 The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not 350, Intangibles – Goodwill and Other first not” |
Note 6 - Equity Interest Invest
Note 6 - Equity Interest Investments | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Note 6 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% May 17, 2018, 1995 December 31, 2018. January 1, 2019. Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using average exchange rates for income statement amounts. The Company’s 50% December 31, 2017 May 17, 2018 December 29, 2018, December 28, 2019, December 26, 2020, In accordance with Rule 4 08 X, December 31, 2017 May 17, 2018 Period from December 31, 2017 through May 17, 2018 Net sales $ 12,978 Gross profit 6,019 Net income 241 |
Note 7 - Borrowings
Note 7 - Borrowings | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 7 On January 21, 2019, “2019 2019 January 31, 2022. 2019 may no The 2019 On December 14, 2020, December 14, 2020 ( 2019 January 21, 2019. $50.0 December 14, 2023. 1:00; may no twenty five no Each loan will bear interest at the Adjusted LIBO Rate for the interest period in effect plus the Applicable Rate. Applicable Rate means the applicable rate per annum set forth below, based upon Escalade’s Funded Debt to Adjusted Ratio as of the most recent determination date: Funded Debt to EBITDA Ratio Revolving Eurodollar Borrowing ABR Revolving Borrowing Letter of Credit Fee Commitment Fee Category 1 Greater than or equal to 2.50 to 1.0 2.25 % 0.25 % 2.25 % 0.35 % Category 2 Greater than or equal to 1.50 to 1.0 but less than 2.50 to 1.0 2.00 % -0- 2.00 % 0.35 % Category 3 Less than 1.50 to 1.0 1.75 % (0.25 %) 1.75 % 0.35 % The Applicable Rate shall be determined as of the end of each quarter based upon the Company’s annual or quarterly consolidated financial statements and shall be effective during the period commencing the date of delivery to the agent. Indebtedness under the 2019 January 25, 2019 2019 2019 2019 Long-Term Debt Long-term debt at fiscal year-ends was as follows: In Thousands 2020 2019 Senior secured revolving credit facility of $ 75.0 2.154 $ 30,073 $ - |
Note 8 - Earnings Per Share
Note 8 - Earnings Per Share | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 The shares used in the computation of the Company’s basic and diluted earnings per common share are as follows: In Thousands 2020 2019 2018 Weighted average common shares outstanding 14,096 14,407 14,422 Dilutive effect of stock options and restricted stock units 129 32 55 Weighted average common shares outstanding, assuming dilution 14,225 14,439 14,477 Number of anti-dilutive stock options and unvested restricted stock units 58 80 70 Weighted average common shares outstanding, assuming dilution, includes the incremental shares that would be issued upon the assumed exercise of stock options outstanding. |
Note 9 - Employee Benefit Plans
Note 9 - Employee Benefit Plans | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 9 The Company has an employee profit-sharing salary reduction plan, pursuant to the provisions of Section 401 2020, 2019 2018, |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 10 In May 2017, 2017 2017 2017 2007 April 2017. The 2017 may may not Restricted Stock Awards During 2020, 2017 2020, two one one one two no 2020 three one third one one third two one third three 35,000 three one two three A summary of restricted stock awards activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units as of December 29, 2018 125,987 $ 12.05 Granted 47,300 11.54 Vested (28,888 ) 12.40 Forfeited (15,763 ) 12.08 Non-vested stock units as of December 28, 2019 128,636 $ 11.78 Granted 171,519 7.67 Vested (56,079 ) 11.39 Forfeited - - Non-vested stock units as of December 26, 2020 244,076 $ 8.98 When vesting is dependent on certain market criteria, the fair value of restricted stock units is determined by the use of Monte Carlo techniques. The market price of the Company’s stock on the grant date is used to value restricted stock units where vesting is not 2020, 2019, 2018 December 26, 2020 December 28, 2019, Stock Options Total compensation expense recorded in the statements of operations for 2020, 2019 2018 December 28, 2019 2020, 2019 2018. The following table summarizes option activity for each of the three 2020: Incentive Stock Options Director Stock Options Granted Outstanding Granted Outstanding 2020 - 10,000 - - 2019 - 20,000 - - 2018 - 20,000 - 15,000 The following table summarizes stock option transactions for the three 2020: 2020 2019 2018 Shares Option Price Shares Option Price Shares Option Price Outstanding at beginning of year 20,000 $14.39 35,000 $11.86 to $14.39 44,250 $5.85 to $14.39 Issued during year - - - - - - Canceled or expired - - (5,000 ) $11.86 - Exercised during year (10,000 ) $14.39 (10,000 ) $11.86 (9,250 ) $5.85 Outstanding at end of year 10,000 $14.39 20,000 $14.39 35,000 $11.86 to $14.39 Exercisable at end of year 10,000 6,666 15,000 Weighted-average fair value of options granted during the year - - -- The total intrinsic value of options exercised was $0.1 million, $0.0 million and $0.1 million for 2020, 2019 2018, The following table summarizes information about stock options outstanding at December 26, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Weighted-Average Remaining Contractual Life (in years) Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price $ 14.39 10,000 1.17 $ 14.39 10,000 $ 14.39 During the year ended December 26, 2020, Number of Options Weighted Average Grant Date Fair Value Nonvested balance, beginning of year 13,334 $ 2.52 Granted - - Vested (13,333 ) $ 2.52 Forfeited - - Nonvested balance, end of year - $ - |
Note 11 - Other Comprehensive L
Note 11 - Other Comprehensive Loss | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 11 The components of other comprehensive loss were as follows: In Thousands 2020 2019 2018 Change in foreign currency translation adjustment before reclassifications - - $ (1,119 ) Amounts reclassified from comprehensive income due to a divestiture of equity investment - - 3,729 |
Note 12 - Provision for Taxes
Note 12 - Provision for Taxes | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 12 Income before taxes and the provision for taxes consisted of the following: In Thousands 2020 2019 2018 Income before taxes: $ 32,922 $ 8,934 $ 26,442 Provision (benefit) for taxes: Current Federal $ 5,479 $ 1,419 $ 4,574 State 854 129 486 6,333 1,548 5,060 Deferred Federal 665 367 591 State (10 ) (239 ) 349 655 128 940 $ 6,988 $ 1,676 $ 6,000 The provision for income taxes was computed based on financial statement income. A reconciliation of the provision for income taxes to the amount computed using the statutory rate follows: In Thousands 2020 2019 2018 Income tax at statutory rate $ 6,914 $ 1,876 $ 5,553 Increase (decrease) in income tax resulting from State tax expense, net of federal effect 668 (86 ) 660 Federal true-ups (103 ) (60 ) (23 ) Federal tax credits (114 ) (93 ) (115 ) Effect of foreign tax rates - - (304 ) Valuation allowances (state and foreign) - - (150 ) Captive insurance earnings (443 ) - (263 ) Incentive stock options (4 ) (1 ) (9 ) Tax Cuts & Jobs Act of 2017 - - 588 Other 70 40 63 Recorded provision for income taxes $ 6,988 $ 1,676 $ 6,000 The provision for income taxes was computed based on financial statement income. In accordance with FASB ASC 740, December 26, 2020. not December 28, 2019. 2016. The Company has state, net of federal benefit, research tax credit carryforwards of $353 thousand as of December 26, 2020. 2020. $27 not At December 26, 2020, December 28, 2019, The components of the net deferred tax liabilities are as follows: In Thousands 2020 2019 Assets Employee benefits $ - $ 55 Valuation reserves 1,042 779 Stock based compensation 297 208 Federal and state credits 353 347 Lease obligation 378 - Other 29 - Net operating loss carry forward 2 - Total assets 2,101 1,389 Liabilities Property and equipment (1,024 ) (470 ) Goodwill and intangible assets (4,685 ) (4,278 ) Lease – right of use asset (376 ) - Prepaid insurance (182 ) (178 ) Total liabilities (6,267 ) (4,926 ) Valuation Allowance Beginning balance - - Increase during period (27 ) - Ending balance (27 ) - $ (4,193 ) $ (3,537 ) Deferred tax assets (liabilities) are included in the consolidated balance sheets as follows: In Thousands 2020 2019 Deferred income tax asset – current $ - $ - Deferred income tax asset (liability) – long-term (4,193 ) (3,537 ) $ (4,193 ) $ (3,537 ) As of December 26, 2020, 2031. The following table reconciles the total amounts of unrecognized tax benefits: In Thousands 2020 2019 2018 Balance at beginning of year $ - $ - $ - Increases related to prior year tax positions - - - Decreases related to prior year tax positions - - - Increases related to current year tax positions 61 - - Settlements - - - Closure of tax years - - - Balance at end of year $ 61 $ - $ - The total amount of unrecognized tax benefits, net of federal income tax benefits, of $48 thousand as of December 26, 2020, The Company had no accrued interest and penalties related to taxes, recognized as a liability, as of December 26, 2020. The Company has assessed its risk associated with all tax return positions and believes its tax reserve estimate reflects its best estimate of the deductions and positions it will be able to sustain, or it may not twelve |
Note 13 - Operating Segment and
Note 13 - Operating Segment and Geographic Information | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 13 The following table presents certain operating segment information. In Thousands 2020 2019 2018 Sporting Goods Net revenue $ 273,649 $ 180,541 $ 175,780 Operating income 32,685 8,611 13,999 Interest expense 250 358 427 Provision for taxes 8,951 2,272 3,739 Net income 23,625 5,997 9,869 Identifiable assets 211,253 141,167 142,490 Depreciation & amortization 4,016 4,031 3,857 Capital expenditures 5,455 2,185 2,818 All Other Net revenue - - - Operating income (loss) 347 664 (182 ) Interest expense (income) - (2 ) - Provision (benefit) for taxes (1,963 ) (596 ) 2,261 Net income 2,309 1,261 10,573 Identifiable assets 9,452 7,612 7,037 Depreciation & amortization - - - Capital expenditures - - - Total Net revenue 273,649 180,541 175,780 Operating income 33,032 9,275 13,817 Interest expense 250 356 427 Provision for taxes 6,988 1,676 6,000 Net income 25,934 7,258 20,442 Identifiable assets 220,705 148,779 149,527 Depreciation & amortization 4,016 4,031 3,857 Capital expenditures 5,455 2,185 2,818 Each operating segment is individually managed and has separate financial results that are reviewed by the Company’s management. There were no 2020. The Sporting Goods segment consists of home entertainment products such as table tennis tables and accessories; basketball goals; pickleball; pool tables and accessories; outdoor playsets; water sports; soccer and hockey tables; archery equipment and accessories; and fitness, arcade and darting products. Customers include retailers, dealers and wholesalers located throughout North America, Europe and the rest of the world. All Other consist of general and administrative expenses not Interest expense is allocated to operating segments based on working capital usage and the provision for taxes is allocated based on a combined federal and state statutory rate of 27.5% adjusted for actual taxes on foreign income. Permanent tax adjustments and timing differences are included in the all other segment. Identifiable assets are principally those assets used in each segment. The assets in the all other segment are principally cash and cash equivalents; deferred tax assets; and investments. The Company had net assets of $16.0 million and $8.7 million located in Mexico as of December 26, 2020 December 28, 2019, During 2020, 2019 2018, 2020, 2019 2018 As of December 26, 2020, December 28, 2019, As of December 26, 2020, May 1, 2021. Raw materials for Escalade’s various product lines consist of wood, tempered glass, particle board, standard grades of steel and steel tubing, aluminum, engineering plastics, fiberglass and packaging materials. Escalade relies upon domestic, Mexico, and Asian suppliers for these materials and upon various Asian manufacturers for many of its products. Net sales are attributed to country based on location of customer. Net sales by geographic region/country were as follows: In Thousands 2020 2019 2018 North America $ 270,173 $ 178,069 $ 172,656 Europe 1,555 1,001 965 Other 1,921 1,471 2,159 $ 273,649 $ 180,541 $ 175,780 |
Note 14 - Summary of Quarterly
Note 14 - Summary of Quarterly Results | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 14 In thousands, except per share data (unaudited) March 21 July 11 October 6 December 26 20 20 Net Sales $ 37,289 $ 83,524 $ 78,069 $ 74,767 Operating Income 2,424 10,872 12,815 6,921 Net income 1,951 8,710 10,186 5,087 Basic Earnings Per Share Data: $ 0.14 $ 0.62 $ 0.72 $ 0.36 Diluted Earnings Per Share Data: $ 0.14 $ 0.61 $ 0.71 $ 0.36 In thousands, except per share data (unaudited) March 23 July 13 October 5 December 28 20 1 9 Net Sales $ 32,102 $ 55,639 $ 45,756 $ 47,044 Operating Income 394 2,471 2,899 3,511 Net income 267 1,876 2,540 2,575 Basic Earnings Per Share Data: $ 0.02 $ 0.13 $ 0.18 $ 0.18 Diluted Earnings Per Share Data: $ 0.02 $ 0.13 $ 0.18 $ 0.18 |
Note 15 - Acquisitions
Note 15 - Acquisitions | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 15 All of the Company’s acquisitions have been accounted for using the purchase method of accounting. 2020 In October 2020, December 2020, In thousands Assets acquired and liabilities assumed: Accounts receivable, net $ 399 Inventories, net 3,797 Other assets 936 Goodwill 5,946 Intangible assets 5,277 Accounts payable (576 ) Other liabilities (333 ) $ 15,446 2019 During 2019, 2018 During 2018, The consideration paid by the Company for this acquisition was allocated to the assets acquired, net of the liabilities assumed, based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair value of the assets acquired, net of the estimated fair value of the liabilities assumed, was recorded as goodwill. The allocation of the purchase price, including values assigned to assets, liabilities and the amount of goodwill and intangible assets are represented in the table below. In thousands Assets acquired and liabilities assumed: Cash $ 94 Accounts receivable 252 Inventories 603 Other assets 2,003 Goodwill 4,833 Intangible assets 1,500 Accounts payable (2,088 ) Other liabilities (314 ) $ 6,883 Consideration of holdback provision 286 $ 7,169 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 16 The Company is involved in litigation arising in the normal course of its business. The Company does not The Company has entered into various agreements whereby it is required to make royalty and license payments. At December 26, 2020, In Thousands Amount 2021 $ 942 2022 1,344 2023 545 2024 560 2025 579 Thereafter 2,524 $ 6,494 |
Note 17 - Fair Values of Financ
Note 17 - Fair Values of Financial Instruments | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 17 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 approximate cost due to the short period of time to maturity. Notes Payable and Long-term Debt The Company believes the carrying value of short-term debt, including current portion of long-term debt, and long-term debt adequately reflects the fair value of these instruments. The following table presents estimated fair values of the Company’s financial instruments in accordance with FASB ASC 825 December 26, 2020 December 28, 2019. Fair Value Measurements Using 2020 In T housands Fair Value 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 $ 3,505 $ 3,505 $ - $ - Financial liabilities Long-term debt $ 30,073 $ - $ 30,073 $ - Fair Value Measurements Using 201 9 In T housands Fair Value 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 $ 5,882 $ 5,882 $ - $ - |
Note 18 - Revenue from Contract
Note 18 - Revenue from Contracts with Customers | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 18 Revenue Recognition December 31, 2017, 606. not Gross-to-net sales adjustments one three Returns – Warranties Customer Allowances Disaggregation of Revenue Years Ended All Amounts in Thousands December 26, 2020 December 28, 2019 December 29, 2018 Gross Sales by Channel: Mass Merchants $ 104,147 $ 66,428 $ 68,196 Specialty Dealers 80,419 53,878 59,211 E-commerce 109,297 74,029 58,026 International 8,226 6,562 8,533 Other 2,312 2,475 1,828 Total Gross Sales 304,401 203,372 195,794 Less: Gross-to-Net Sales Adjustments Returns 7,837 5,415 5,085 Warranties 1,648 1,736 1,448 Customer Allowances 21,267 15,680 13,481 Total Gross-to-Net Sales Adjustments 30,752 22,831 20,014 Total Net Sales $ 273,649 $ 180,541 $ 175,780 Contract Balances twelve December 26, 2020, December 28, 2019 December 29, 2018. twelve December 29, 2018 December 29, 2018, December 28, 2019, Years Ended All Amounts in Thousands December 26, 2020 December 28, 2019 December 29, 2018 Increase due to cash received, excluding amounts recognized as revenue during the period $ - $ - $ 413 Revenue recognized that was included in the contract liability balance at the beginning of the period - (413 ) - Increase in contract liability during the period $ - $ - $ 413 |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Dec. 26, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 19 On February 22, 2021, February 19, 2021. February 19, 2021, 62, 2015 May 2018, 1997. no not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 26, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of Escalade, Incorporated and its wholly-owned subsidiaries. All material inter-company accounts and transactions have been eliminated. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The books and records of subsidiaries located in foreign countries are maintained according to generally accepted accounting principles in those countries. Upon consolidation, the Company evaluates the differences in accounting principles and determines whether adjustments are necessary to convert the foreign financial statements to the accounting principles upon which the consolidated financial statements are based. As a result of this evaluation no |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year End The Company’s fiscal year is a 52 53 December. 2020 52 December 26, 2020. 2019 52 December 28, 2019. 2018 52 December 29, 2018. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Highly liquid financial instruments with insignificant interest rate risk and with original maturities of three may December 26, 2020, |
Accounts Receivable [Policy Text Block] | Accounts Receivable Revenue from the sale of the Company’s products 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. Accounts receivable are stated at the amount billed to customers. Interest and late charges billed to customers are not not not 2 |
Inventory, Policy [Policy Text Block] | Inventories Inventory cost is computed on a currently adjusted standard cost basis (which approximates actual cost on a current average or first first one 2020 2019, In Thousands 2020 2019 Raw materials $ 9,121 $ 3,186 Work in process 3,538 2,177 Finished goods 59,829 36,906 $ 72,488 $ 42,269 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation and amortization are computed for financial reporting purposes principally using the straight-line method over the following estimated useful lives: buildings, 20-30 years; leasehold improvements, term of the lease; machinery and equipment, 5-15 years; and tooling, dies and molds, 2-5 years. Property, plant and equipment consist of the following: In Thousands 2020 2019 Land $ 1,943 $ 1,943 Buildings and leasehold improvements 18,798 16,831 Machinery and equipment 28,083 24,721 Total cost 48,824 43,495 Accumulated depreciation and amortization (30,592 ) (28,384 ) $ 18,232 $ 15,111 The Company evaluates the recoverability of certain long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not 2020, 2019, 2018. |
Investment, Policy [Policy Text Block] | Investments Non-Marketable Equity Investment : not 20% not 20% not 50%, 2018. 2018. may not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over fair value of net tangible and identifiable intangible assets of acquired businesses. Intangible assets consist of patents, consulting agreements, non-compete agreements, customer lists, developed technology, license agreements, and trademarks. Goodwill is deemed to have an indefinite life and is not 350 , Intangibles – Goodwill and Other The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not 350, Intangibles – Goodwill and Other first not" |
Share-based Payment Arrangement [Policy Text Block] | Employee Incentive Plan During 2017, 10. 718, Equity Based Payments |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The functional currency for the foreign operations of Escalade is the U.S. dollar. Gains or losses resulting from foreign currency transactions are included in selling, general and administrative expense in the Consolidated Statements of Operations and were insignificant in fiscal years 2020, 2019, 2018. |
Cost of Goods and Service [Policy Text Block] | Cost of Products Sold Cost of products sold is comprised of those costs directly associated with or allocated to the products sold and include materials, labor and factory overhead. |
Income Tax, Policy [Policy Text Block] | Provision for Income Taxes Income tax in the consolidated statement of operations includes deferred income tax provisions or benefits for all significant temporary differences in recognizing income and expenses for financial reporting and income tax purposes. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not The Company accounts for uncertainty in tax positions by recognizing in its financial statements the impact of a tax position only if that position is more likely than not |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to expense as incurred. Research and development costs incurred during 2020, 2019 2018 |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements and Changes in Accounting Principles Standards Adopted: In January 2017, 2017 04, 350 2 not The Company adopted this standard on December 29, 2019. not New Accounting Standards to be Adopted In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 2016 13 December 15, 2020, not November 2019, 2019 10, Financial Instruments – Credit Losses (Topic 326 815 842 2016 13 one 2016 13 December 15, 2022, In December 2019, 2019 12, Income Taxes (Topic 740 December 15, 2020, |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | In Thousands 2020 2019 Raw materials $ 9,121 $ 3,186 Work in process 3,538 2,177 Finished goods 59,829 36,906 $ 72,488 $ 42,269 |
Property, Plant and Equipment [Table Text Block] | In Thousands 2020 2019 Land $ 1,943 $ 1,943 Buildings and leasehold improvements 18,798 16,831 Machinery and equipment 28,083 24,721 Total cost 48,824 43,495 Accumulated depreciation and amortization (30,592 ) (28,384 ) $ 18,232 $ 15,111 |
Note 2 - Certain Significant _2
Note 2 - Certain Significant Estimates (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Valuation and Qualifying Accounts [Table Text Block] | In Thousands 2020 2019 2018 Beginning balance $ 688 $ 702 $ 691 Additions 1,648 1,736 1,448 Deductions (1,374 ) (1,750 ) (1,437 ) Ending balance $ 962 $ 688 $ 702 In Thousands 2020 2019 2018 Beginning balance $ 786 $ 456 $ 504 Additions 831 756 383 Deductions (920 ) (426 ) (431 ) Ending balance $ 697 $ 786 $ 456 In Thousands 2020 2019 2018 Beginning balance $ 483 $ 532 $ 623 Additions 473 322 155 Deductions (60 ) (371 ) (246 ) Ending balance $ 896 $ 483 $ 532 In Thousands 2019 2019 2018 Beginning balance $ 1,292 $ 1,550 $ 3,357 Additions 11,940 7,292 6,575 Deductions (10,936 ) (7,550 ) (8,382 ) Ending balance $ 2,296 $ 1,292 $ 1,550 |
Note 3 - Accrued Liabilities (T
Note 3 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | In Thousands 2020 2019 Employee compensation $ 7,685 $ 1,917 Customer related allowances and accruals 7,532 4,876 Other accrued items 9,054 2,896 $ 24,271 $ 9,689 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | All Amounts in Thousands Twelve Months Ended December 26, 2020 Twelve Months Ended December 28, 2019 Lease Expense Operating Lease Cost $ 828 $ 826 Short-term Lease Cost 973 446 Variable Lease Cost 250 244 Total Operating Lease Cost $ 2,051 $ 1,516 Operating Lease – Operating Cash Flows $ 762 $ 755 New ROU Assets – Operating Leases (non-cash) $ 1,282 $ 867 Period Ended December 26, 2020 Period Ended December 28, 2019 Weighted Average Remaining Lease Term – Operating Leases (in years) 2.24 1.98 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | All Amounts in Thousands Year 1 $ 910 Year 2 496 Year 3 221 Year 4 56 Year 5 24 Thereafter - Total future minimum lease payments 1,707 Less imputed interest (90 ) Total $ 1,617 Reported as of December 26, 2020 Current operating lease liabilities 854 Long-term operating lease liabilities 763 Total $ 1,617 |
Note 5 - Acquired Intangible _2
Note 5 - Acquired Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2020 2019 In Thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Patents 24,715 23,860 24,515 23,689 Non-compete agreements 2,749 2,749 2,749 2,702 Customer list 18,017 6,669 14,317 5,575 Trademarks 9,736 174 8,359 143 Developed technology 475 206 475 111 License agreements 700 89 700 48 56,392 33,747 51,115 32,268 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | In Thousands 2021 2022 2023 2024 2025 Thereafter Sporting Goods 1,866 1,847 1,768 1,644 1,595 6,140 |
Schedule of Goodwill [Table Text Block] | In Thousands Sporting Goods Balance at December 29, 2018 $ 26,381 Acquisition 368 Balance at December 28, 2019 $ 26,749 Acquisition 5,946 Balance at December 26, 2020 $ 32,695 |
Note 6 - Equity Interest Inve_2
Note 6 - Equity Interest Investments (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Period from December 31, 2017 through May 17, 2018 Net sales $ 12,978 Gross profit 6,019 Net income 241 |
Note 7 - Borrowings (Tables)
Note 7 - Borrowings (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Funded Debt to Adjusted Ratio Percentage [Table Text Block] | Funded Debt to EBITDA Ratio Revolving Eurodollar Borrowing ABR Revolving Borrowing Letter of Credit Fee Commitment Fee Category 1 Greater than or equal to 2.50 to 1.0 2.25 % 0.25 % 2.25 % 0.35 % Category 2 Greater than or equal to 1.50 to 1.0 but less than 2.50 to 1.0 2.00 % -0- 2.00 % 0.35 % Category 3 Less than 1.50 to 1.0 1.75 % (0.25 %) 1.75 % 0.35 % |
Schedule of Long-term Debt Instruments [Table Text Block] | In Thousands 2020 2019 Senior secured revolving credit facility of $ 75.0 2.154 $ 30,073 $ - |
Note 8 - Earnings Per Share (Ta
Note 8 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | In Thousands 2020 2019 2018 Weighted average common shares outstanding 14,096 14,407 14,422 Dilutive effect of stock options and restricted stock units 129 32 55 Weighted average common shares outstanding, assuming dilution 14,225 14,439 14,477 Number of anti-dilutive stock options and unvested restricted stock units 58 80 70 |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Non-vested stock units as of December 29, 2018 125,987 $ 12.05 Granted 47,300 11.54 Vested (28,888 ) 12.40 Forfeited (15,763 ) 12.08 Non-vested stock units as of December 28, 2019 128,636 $ 11.78 Granted 171,519 7.67 Vested (56,079 ) 11.39 Forfeited - - Non-vested stock units as of December 26, 2020 244,076 $ 8.98 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Incentive Stock Options Director Stock Options Granted Outstanding Granted Outstanding 2020 - 10,000 - - 2019 - 20,000 - - 2018 - 20,000 - 15,000 2020 2019 2018 Shares Option Price Shares Option Price Shares Option Price Outstanding at beginning of year 20,000 $14.39 35,000 $11.86 to $14.39 44,250 $5.85 to $14.39 Issued during year - - - - - - Canceled or expired - - (5,000 ) $11.86 - Exercised during year (10,000 ) $14.39 (10,000 ) $11.86 (9,250 ) $5.85 Outstanding at end of year 10,000 $14.39 20,000 $14.39 35,000 $11.86 to $14.39 Exercisable at end of year 10,000 6,666 15,000 Weighted-average fair value of options granted during the year - - -- |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Weighted-Average Remaining Contractual Life (in years) Weighted-Average Exercise Price Number of Shares Weighted-Average Exercise Price $ 14.39 10,000 1.17 $ 14.39 10,000 $ 14.39 |
Schedule of Nonvested Share Activity [Table Text Block] | Number of Options Weighted Average Grant Date Fair Value Nonvested balance, beginning of year 13,334 $ 2.52 Granted - - Vested (13,333 ) $ 2.52 Forfeited - - Nonvested balance, end of year - $ - |
Note 11 - Other Comprehensive_2
Note 11 - Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | In Thousands 2020 2019 2018 Change in foreign currency translation adjustment before reclassifications - - $ (1,119 ) Amounts reclassified from comprehensive income due to a divestiture of equity investment - - 3,729 |
Note 12 - Provision for Taxes (
Note 12 - Provision for Taxes (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | In Thousands 2020 2019 2018 Income before taxes: $ 32,922 $ 8,934 $ 26,442 Provision (benefit) for taxes: Current Federal $ 5,479 $ 1,419 $ 4,574 State 854 129 486 6,333 1,548 5,060 Deferred Federal 665 367 591 State (10 ) (239 ) 349 655 128 940 $ 6,988 $ 1,676 $ 6,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | In Thousands 2020 2019 2018 Income tax at statutory rate $ 6,914 $ 1,876 $ 5,553 Increase (decrease) in income tax resulting from State tax expense, net of federal effect 668 (86 ) 660 Federal true-ups (103 ) (60 ) (23 ) Federal tax credits (114 ) (93 ) (115 ) Effect of foreign tax rates - - (304 ) Valuation allowances (state and foreign) - - (150 ) Captive insurance earnings (443 ) - (263 ) Incentive stock options (4 ) (1 ) (9 ) Tax Cuts & Jobs Act of 2017 - - 588 Other 70 40 63 Recorded provision for income taxes $ 6,988 $ 1,676 $ 6,000 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | In Thousands 2020 2019 Assets Employee benefits $ - $ 55 Valuation reserves 1,042 779 Stock based compensation 297 208 Federal and state credits 353 347 Lease obligation 378 - Other 29 - Net operating loss carry forward 2 - Total assets 2,101 1,389 Liabilities Property and equipment (1,024 ) (470 ) Goodwill and intangible assets (4,685 ) (4,278 ) Lease – right of use asset (376 ) - Prepaid insurance (182 ) (178 ) Total liabilities (6,267 ) (4,926 ) Valuation Allowance Beginning balance - - Increase during period (27 ) - Ending balance (27 ) - $ (4,193 ) $ (3,537 ) In Thousands 2020 2019 Deferred income tax asset – current $ - $ - Deferred income tax asset (liability) – long-term (4,193 ) (3,537 ) $ (4,193 ) $ (3,537 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | In Thousands 2020 2019 2018 Balance at beginning of year $ - $ - $ - Increases related to prior year tax positions - - - Decreases related to prior year tax positions - - - Increases related to current year tax positions 61 - - Settlements - - - Closure of tax years - - - Balance at end of year $ 61 $ - $ - |
Note 13 - Operating Segment a_2
Note 13 - Operating Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | In Thousands 2020 2019 2018 Sporting Goods Net revenue $ 273,649 $ 180,541 $ 175,780 Operating income 32,685 8,611 13,999 Interest expense 250 358 427 Provision for taxes 8,951 2,272 3,739 Net income 23,625 5,997 9,869 Identifiable assets 211,253 141,167 142,490 Depreciation & amortization 4,016 4,031 3,857 Capital expenditures 5,455 2,185 2,818 All Other Net revenue - - - Operating income (loss) 347 664 (182 ) Interest expense (income) - (2 ) - Provision (benefit) for taxes (1,963 ) (596 ) 2,261 Net income 2,309 1,261 10,573 Identifiable assets 9,452 7,612 7,037 Depreciation & amortization - - - Capital expenditures - - - Total Net revenue 273,649 180,541 175,780 Operating income 33,032 9,275 13,817 Interest expense 250 356 427 Provision for taxes 6,988 1,676 6,000 Net income 25,934 7,258 20,442 Identifiable assets 220,705 148,779 149,527 Depreciation & amortization 4,016 4,031 3,857 Capital expenditures 5,455 2,185 2,818 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | In Thousands 2020 2019 2018 North America $ 270,173 $ 178,069 $ 172,656 Europe 1,555 1,001 965 Other 1,921 1,471 2,159 $ 273,649 $ 180,541 $ 175,780 |
Note 14 - Summary of Quarterl_2
Note 14 - Summary of Quarterly Results (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | In thousands, except per share data (unaudited) March 21 July 11 October 6 December 26 20 20 Net Sales $ 37,289 $ 83,524 $ 78,069 $ 74,767 Operating Income 2,424 10,872 12,815 6,921 Net income 1,951 8,710 10,186 5,087 Basic Earnings Per Share Data: $ 0.14 $ 0.62 $ 0.72 $ 0.36 Diluted Earnings Per Share Data: $ 0.14 $ 0.61 $ 0.71 $ 0.36 In thousands, except per share data (unaudited) March 23 July 13 October 5 December 28 20 1 9 Net Sales $ 32,102 $ 55,639 $ 45,756 $ 47,044 Operating Income 394 2,471 2,899 3,511 Net income 267 1,876 2,540 2,575 Basic Earnings Per Share Data: $ 0.02 $ 0.13 $ 0.18 $ 0.18 Diluted Earnings Per Share Data: $ 0.02 $ 0.13 $ 0.18 $ 0.18 |
Note 15 - Acquisitions (Tables)
Note 15 - Acquisitions (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | In thousands Assets acquired and liabilities assumed: Accounts receivable, net $ 399 Inventories, net 3,797 Other assets 936 Goodwill 5,946 Intangible assets 5,277 Accounts payable (576 ) Other liabilities (333 ) $ 15,446 In thousands Assets acquired and liabilities assumed: Cash $ 94 Accounts receivable 252 Inventories 603 Other assets 2,003 Goodwill 4,833 Intangible assets 1,500 Accounts payable (2,088 ) Other liabilities (314 ) $ 6,883 Consideration of holdback provision 286 $ 7,169 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Schedule of Minimum Payments Under Non-cancelable Royalty and License [Table Text Block] | In Thousands Amount 2021 $ 942 2022 1,344 2023 545 2024 560 2025 579 Thereafter 2,524 $ 6,494 |
Note 17 - Fair Values of Fina_2
Note 17 - Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using 2020 In T housands Fair Value 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 $ 3,505 $ 3,505 $ - $ - Financial liabilities Long-term debt $ 30,073 $ - $ 30,073 $ - Fair Value Measurements Using 201 9 In T housands Fair Value 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 $ 5,882 $ 5,882 $ - $ - |
Note 18 - Revenue from Contra_2
Note 18 - Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 26, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Years Ended All Amounts in Thousands December 26, 2020 December 28, 2019 December 29, 2018 Gross Sales by Channel: Mass Merchants $ 104,147 $ 66,428 $ 68,196 Specialty Dealers 80,419 53,878 59,211 E-commerce 109,297 74,029 58,026 International 8,226 6,562 8,533 Other 2,312 2,475 1,828 Total Gross Sales 304,401 203,372 195,794 Less: Gross-to-Net Sales Adjustments Returns 7,837 5,415 5,085 Warranties 1,648 1,736 1,448 Customer Allowances 21,267 15,680 13,481 Total Gross-to-Net Sales Adjustments 30,752 22,831 20,014 Total Net Sales $ 273,649 $ 180,541 $ 175,780 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Years Ended All Amounts in Thousands December 26, 2020 December 28, 2019 December 29, 2018 Increase due to cash received, excluding amounts recognized as revenue during the period $ - $ - $ 413 Revenue recognized that was included in the contract liability balance at the beginning of the period - (413 ) - Increase in contract liability during the period $ - $ - $ 413 |
Note 1 - Nature of Operations_3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Inventory Valuation Reserves, Ending Balance | $ 697 | $ 786 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | $ 0 |
Proportionate Net Income | 100 | ||
Proceeds from Equity Method Investment, Distribution | 0 | 0 | 2,323 |
Research and Development Expense, Total | 1,500 | 1,600 | $ 1,500 |
Accrued Liabilities, Current, Total | $ 24,271 | $ 9,689 | |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years | ||
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | ||
Trademarks [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | ||
Noncompete Agreements [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | ||
Minimum [Member] | Customer Lists [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||
Minimum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | ||
Maximum [Member] | Customer Lists [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 14 years | ||
Maximum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
Building [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 20 years | ||
Building [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 30 years | ||
Machinery and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Machinery and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 15 years | ||
Tools, Dies and Molds [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 2 years | ||
Tools, Dies and Molds [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Book Overdrafts Reclassified to Accrued Liabilities [Member] | |||
Bank Overdrafts | $ (5,000) | ||
Accrued Liabilities, Current, Total | $ 5,000 |
Note 1 - Nature of Operations_4
Note 1 - Nature of Operations and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Raw materials | $ 9,121 | $ 3,186 |
Work in process | 3,538 | 2,177 |
Finished goods | 59,829 | 36,906 |
Inventory, Net, Total | $ 72,488 | $ 42,269 |
Note 1 - Nature of Operations_5
Note 1 - Nature of Operations and Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Land | $ 1,943 | $ 1,943 |
Buildings and leasehold improvements | 18,798 | 16,831 |
Machinery and equipment | 28,083 | 24,721 |
Total cost | 48,824 | 43,495 |
Accumulated depreciation and amortization | (30,592) | (28,384) |
Property, Plant and Equipment, Net, Ending Balance | $ 18,232 | $ 15,111 |
Note 2 - Certain Significant _3
Note 2 - Certain Significant Estimates (Details Textual) | 12 Months Ended |
Dec. 26, 2020 | |
Minimum [Member] | |
Product Warranty Period (Day) | 30 days |
Maximum [Member] | |
Product Warranty Period (Day) | 1 year |
Licensing Agreements [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years |
Developed Technology Rights [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years |
Trademarks [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years |
Customer Lists [Member] | Minimum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years |
Customer Lists [Member] | Maximum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 14 years |
Noncompete Agreements [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years |
Patents [Member] | Minimum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years |
Patents [Member] | Maximum [Member] | |
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years |
Note 2 - Certain Significant _4
Note 2 - Certain Significant Estimates - Certain Significant Estimates and Assumptions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
SEC Schedule, 12-09, Reserve, Warranty [Member] | |||
Beginning balance | $ 688 | $ 702 | $ 691 |
Additions | 1,648 | 1,736 | 1,448 |
Deductions | (1,374) | (1,750) | (1,437) |
Ending balance | 962 | 688 | 702 |
SEC Schedule, 12-09, Reserve, Inventory [Member] | |||
Beginning balance | 786 | 456 | 504 |
Additions | 831 | 756 | 383 |
Deductions | (920) | (426) | (431) |
Ending balance | 697 | 786 | 456 |
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||
Beginning balance | 483 | 532 | 623 |
Additions | 473 | 322 | 155 |
Deductions | (60) | (371) | (246) |
Ending balance | 896 | 483 | 532 |
Reserve For Customer Allowances [Member] | |||
Beginning balance | 1,292 | 1,550 | 3,357 |
Additions | 11,940 | 7,292 | 6,575 |
Deductions | (10,936) | (7,550) | (8,382) |
Ending balance | $ 2,296 | $ 1,292 | $ 1,550 |
Note 3 - Accrued Liabilities -
Note 3 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Employee compensation | $ 7,685 | $ 1,917 |
Customer related allowances and accruals | 7,532 | 4,876 |
Other accrued items | 9,054 | 2,896 |
Accrued Liabilities, Current, Total | $ 24,271 | $ 9,689 |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) | Dec. 26, 2020 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years |
Note 4 - Leases - Lease Cost (D
Note 4 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 26, 2020 | Dec. 28, 2019 | |
Operating Lease Cost | $ 828 | $ 826 |
Short-term Lease Cost | 973 | 446 |
Variable Lease Cost | 250 | 244 |
Total Operating Lease Cost | 2,051 | 1,516 |
Operating Lease – Operating Cash Flows | 762 | 755 |
New ROU Assets – Operating Leases (non-cash) | $ 1,282 | $ 867 |
Weighted Average Remaining Lease Term – Operating Leases (in years) (Year) | 2 years 2 months 26 days | 1 year 11 months 23 days |
Weighted Average Discount Rate – Operating Leases | 5.00% | 5.00% |
Note 4 - Leases - Future Minimu
Note 4 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Year 1 | $ 910 | |
Year 2 | 496 | |
Year 3 | 221 | |
Year 4 | 56 | |
Year 5 | 24 | |
Thereafter | 0 | |
Total future minimum lease payments | 1,707 | |
Less imputed interest | (90) | |
Total | 1,617 | |
Current operating lease liabilities | 854 | $ 621 |
Long-term operating lease liabilities | 763 | $ 475 |
Total | $ 1,617 |
Note 5 - Acquired Intangible _3
Note 5 - Acquired Intangible Assets and Goodwill (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Amortization of Intangible Assets, Total | $ 1,480 | $ 1,469 | $ 1,406 |
Note 5 - Acquired Intangible _4
Note 5 - Acquired Intangible Assets and Goodwill - Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Gross Carrying Amount | $ 56,392 | $ 51,115 |
Accumulated Amortization | 33,747 | 32,268 |
Patents [Member] | ||
Gross Carrying Amount | 24,715 | 24,515 |
Accumulated Amortization | 23,860 | 23,689 |
Noncompete Agreements [Member] | ||
Gross Carrying Amount | 2,749 | 2,749 |
Accumulated Amortization | 2,749 | 2,702 |
Customer Lists [Member] | ||
Gross Carrying Amount | 18,017 | 14,317 |
Accumulated Amortization | 6,669 | 5,575 |
Trademarks [Member] | ||
Gross Carrying Amount | 9,736 | 8,359 |
Accumulated Amortization | 174 | 143 |
Developed Technology Rights [Member] | ||
Gross Carrying Amount | 475 | 475 |
Accumulated Amortization | 206 | 111 |
Licensing Agreements [Member] | ||
Gross Carrying Amount | 700 | 700 |
Accumulated Amortization | $ 89 | $ 48 |
Note 5 - Acquired Intangible _5
Note 5 - Acquired Intangible Assets and Goodwill - Estimated Future Amortization Expense (Details) - Sporting Goods [Member] $ in Thousands | Dec. 26, 2020USD ($) |
2021 | $ 1,866 |
2022 | 1,847 |
2023 | 1,768 |
2024 | 1,644 |
2025 | 1,595 |
Thereafter | $ 6,140 |
Note 5 - Acquired Intangible _6
Note 5 - Acquired Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 26, 2020 | Dec. 28, 2019 | |
Balance | $ 26,749 | $ 26,381 |
Acquisition | 5,946 | 368 |
Balance | $ 32,695 | $ 26,749 |
Note 6 - Equity Interest Inve_3
Note 6 - Equity Interest Investments (Details Textual) - USD ($) $ in Thousands | May 17, 2018 | Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 |
Proceeds from Sale of Equity Method Investments | $ 0 | $ 0 | $ 33,705 | ||||||||||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | 0 | 0 | 13,020 | ||||||||||
Net Income (Loss) Attributable to Parent, Total | $ 5,087 | $ 10,186 | $ 1,951 | $ 2,575 | $ 2,540 | $ 267 | $ 8,710 | $ 1,876 | $ 241 | 25,934 | 7,258 | 20,442 | |
Royalty Expense | $ 500 | $ 500 | $ 400 | ||||||||||
Stiga [Member] | |||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |||||||||||
Proceeds from Sale of Equity Method Investments | $ 33,700 | ||||||||||||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | $ 13,000 | ||||||||||||
Net Income (Loss) Attributable to Parent, Total | $ 121 |
Note 6 - Equity Interest Inve_4
Note 6 - Equity Interest Investments - Summarized Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net sales | $ 74,767 | $ 78,069 | $ 37,289 | $ 47,044 | $ 45,756 | $ 32,102 | $ 83,524 | $ 55,639 | $ 12,978 | $ 273,649 | $ 180,541 | $ 175,780 |
Gross profit | 6,019 | |||||||||||
Net Income | $ 5,087 | $ 10,186 | $ 1,951 | $ 2,575 | $ 2,540 | $ 267 | $ 8,710 | $ 1,876 | $ 241 | $ 25,934 | $ 7,258 | $ 20,442 |
Note 7 - Borrowings (Details Te
Note 7 - Borrowings (Details Textual) - USD ($) $ in Millions | Dec. 14, 2020 | Jan. 21, 2019 |
Stock Repurchase Program, Authorized Amount | $ 15 | |
2019 Restated Credit Agreement [Member] | ||
Debt Instrument, Total Consideration Used for Acquisitions | $ 30 | $ 25 |
Debt to EBITDA Ratio | 1.75 | |
2019 Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75 | 50 |
Debt Instrument, Interest Rate, Increase (Decrease) | 0.25% | |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, Increase (Decrease) | 0.05% | |
2019 Restated Credit Agreement [Member] | Letter of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5 |
Note 7 - Borrowings - Funded De
Note 7 - Borrowings - Funded Debt to Adjusted Ratio (Details) | 12 Months Ended |
Dec. 26, 2020 | |
Funded Debt to Adjusted Ratio Greater than or equal to 2.50 to 1.0 [Member] | |
Revolving Eurodollar Borrowing | 2.25% |
ABR Revolving Borrowing | 0.25% |
Letter of Credit Fee | 2.25% |
Commitment Fee | 0.35% |
Funded Debt to Adjusted Ratio Greater than or equal to 1.50 to 1.0 but less than 2.50 to 1.0 [Member] | |
Revolving Eurodollar Borrowing | 2.00% |
ABR Revolving Borrowing | (0.00%) |
Letter of Credit Fee | 2.00% |
Commitment Fee | 0.35% |
Information related to Funded Debt to Adjusted Ratio Less than 1.50 to 1.0 [Member] | |
Revolving Eurodollar Borrowing | 1.75% |
ABR Revolving Borrowing | (0.25%) |
Letter of Credit Fee | 1.75% |
Commitment Fee | 0.35% |
Note 7 - Borrowings - Long-term
Note 7 - Borrowings - Long-term Debt (Details) $ in Thousands | Dec. 26, 2020USD ($) |
Line of Credit [Member] | |
Senior secured revolving credit facility of $75.0 million with a maturity of December 14, 2023. The interest rate at December 26, 2020 was 2.154%. | $ 30,073 |
Note 7 - Borrowings - Long-te_2
Note 7 - Borrowings - Long-term Debt (Details) (Parentheticals) - Line of Credit [Member] $ in Millions | Dec. 26, 2020USD ($) |
Senior secured revolving credit facility | $ 75 |
Interest rate | 2.154% |
Note 8 - Earnings Per Share - E
Note 8 - Earnings Per Share - Earnings Per Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Weighted average common shares outstanding (in shares) | 14,096 | 14,407 | 14,422 |
Dilutive effect of stock options and restricted stock units (in shares) | 129 | 32 | 55 |
Weighted average common shares outstanding, assuming dilution (in shares) | 14,225 | 14,439 | 14,477 |
Number of anti-dilutive stock options and unvested restricted stock units (in shares) | 58 | 80 | 70 |
Note 9 - Employee Benefit Pla_2
Note 9 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Profit Sharing Salary Reduction Plan [Member] | |||
Other Labor-related Expenses | $ 841 | $ 816 | $ 715 |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | May 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 0 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 100 | $ 0 | $ 100 | |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 171,519 | 47,300 | ||
Share-based Payment Arrangement, Expense | $ 1,011 | $ 505 | 591 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 926 | 622 | ||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 113,669 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Awards Subject to Performance Conditions (in shares) | 18,268 | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 22,850 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||
Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 35,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | |||
Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | |||
Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | |||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Payment Arrangement, Expense | $ 5 | 8 | $ 13 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 5 | |||
Incentive Plan 2017 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,661,598 | |||
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture (in shares) | 9,448 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - Restricted Stock Awards Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 26, 2020 | Dec. 28, 2019 | |
Non-vested stock units (in shares) | 128,636 | 125,987 |
Non-vested stock units, weighted average grant date fair value (in dollars per share) | $ 11.78 | $ 12.05 |
Granted (in shares) | 171,519 | 47,300 |
Granted, weighted average grant date fair value (in dollars per share) | $ 7.67 | $ 11.54 |
Vested (in shares) | (56,079) | (28,888) |
Vested, weighted average grant date fair value (in dollars per share) | $ 11.39 | $ 12.40 |
Forfeited (in shares) | 0 | (15,763) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | $ 12.08 |
Non-vested stock units (in shares) | 244,076 | 128,636 |
Non-vested stock units, weighted average grant date fair value (in dollars per share) | $ 8.98 | $ 11.78 |
Note 10 - Stock Compensation _5
Note 10 - Stock Compensation Plans - Option Activity and Transactions (Details) - $ / shares | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Options outstanding (in shares) | 10,000 | 20,000 | 35,000 |
Options outstanding (in shares) | 20,000 | 35,000 | 44,250 |
Options outstanding, price (in dollars per share) | $ 14.39 | ||
Options canceled or expired (in shares) | 0 | (5,000) | 0 |
Options canceled or expired, price (in dollars per share) | $ 11.86 | ||
Options exercised (in shares) | (10,000) | (10,000) | (9,250) |
Options exercised, price (in dollars per share) | $ 14.39 | $ 11.86 | $ 5.85 |
Options outstanding, price (in dollars per share) | $ 14.39 | $ 14.39 | |
Options Exercisable, Number of Shares (in shares) | 10,000 | 6,666 | 15,000 |
Minimum [Member] | |||
Options outstanding, price (in dollars per share) | $ 11.86 | $ 5.85 | |
Options outstanding, price (in dollars per share) | 11.86 | ||
Maximum [Member] | |||
Options outstanding, price (in dollars per share) | $ 14.39 | 14.39 | |
Options outstanding, price (in dollars per share) | $ 14.39 | ||
Incentive Stock Options [Member] | |||
Options outstanding (in shares) | 10,000 | 20,000 | 20,000 |
Options outstanding (in shares) | 20,000 | 20,000 | |
Director Stock Options [Member] | |||
Options outstanding (in shares) | 0 | 0 | 15,000 |
Options outstanding (in shares) | 0 | 15,000 |
Note 10 - Stock Compensation _6
Note 10 - Stock Compensation Plans - Stock Options Outstanding (Details) - $ / shares | 12 Months Ended | |||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | Dec. 30, 2017 | |
Options Outstanding, Number of Shares (in shares) | 10,000 | 20,000 | 35,000 | 44,250 |
Options Outstanding, Weighted-Average Exercise Price (in dollars per share) | $ 14.39 | $ 14.39 | ||
Options Exercisable, Number of Shares (in shares) | 10,000 | 6,666 | 15,000 | |
Range One [Member] | ||||
Options Outstanding, Number of Shares (in shares) | 10,000 | |||
Options Outstanding, Weighted-Average Remaining Contractual Life (Year) | 1 year 2 months 1 day | |||
Options Exercisable, Number of Shares (in shares) | 10,000 |
Note 10 - Stock Compensation _7
Note 10 - Stock Compensation Plans - Nonvested Stock Option (Details) - $ / shares | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Nonvested balance (in shares) | 13,334 | ||
Nonvested balance, weighted average grant date fair value (in dollars per share) | $ 2.52 | ||
Granted (in shares) | 0 | 0 | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | ||
Vested (in shares) | (13,333) | ||
Vested, weighted average grant date fair value (in dollars per share) | $ 2.52 | ||
Forfeited (in shares) | 0 | ||
Forfeited, weighted average grant date fair value (in dollars per share) | $ 0 | ||
Nonvested balance (in shares) | 0 | 13,334 | |
Nonvested balance, weighted average grant date fair value (in dollars per share) | $ 0 | $ 2.52 |
Note 11 - Other Comprehensive_3
Note 11 - Other Comprehensive Loss - Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Change in foreign currency translation adjustment before reclassifications | $ 0 | $ 0 | $ (1,119) |
Amounts reclassified from comprehensive income due to a divestiture of equity investment | $ 0 | $ 0 | $ 3,729 |
Note 12 - Provision for Taxes_2
Note 12 - Provision for Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Tax Credit Carryforward, Amount | $ 353 | ||
Tax Cuts and Jobs Act, Income Tax Expense (Benefit), Total | $ 326 | ||
Increase (Decrease) in Income Taxes | 400 | $ 387 | |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 2 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 48 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | ||
Domestic Tax Authority [Member] | |||
Increase (Decrease) in Income Taxes Receivable | 180 | 41 | |
State and Local Jurisdiction [Member] | |||
Increase (Decrease) in Income Taxes Receivable | $ 123 | $ 204 |
Note 12 - Provision for Taxes -
Note 12 - Provision for Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Income before taxes: | $ 32,922 | $ 8,934 | $ 26,442 |
Current | |||
Federal | 5,479 | 1,419 | 4,574 |
State | 854 | 129 | 486 |
Current Income Tax Expense (Benefit), Total | 6,333 | 1,548 | 5,060 |
Deferred | |||
Federal | 665 | 367 | 591 |
State | (10) | (239) | 349 |
Deferred Income Tax Expense (Benefit), Total | 655 | 128 | 940 |
Income Tax Expense (Benefit), Total | $ 6,988 | $ 1,676 | $ 6,000 |
Note 12 - Provision for Taxes_3
Note 12 - Provision for Taxes - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Income tax at statutory rate | $ 6,914 | $ 1,876 | $ 5,553 |
Increase (decrease) in income tax resulting from | |||
State tax expense, net of federal effect | 668 | (86) | 660 |
Federal true-ups | (103) | (60) | (23) |
Federal tax credits | (114) | (93) | (115) |
Effect of foreign tax rates | 0 | 0 | (304) |
Valuation allowances (state and foreign) | 0 | 0 | (150) |
Captive insurance earnings | (443) | 0 | (263) |
Incentive stock options | (4) | (1) | (9) |
Tax Cuts & Jobs Act of 2017 | 0 | 0 | 588 |
Other | 70 | 40 | 63 |
Income Tax Expense (Benefit), Total | $ 6,988 | $ 1,676 | $ 6,000 |
Note 12 - Provision for Taxes_4
Note 12 - Provision for Taxes - Net Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 26, 2020 | Dec. 28, 2019 | |
Employee benefits | $ 0 | $ 55 |
Valuation reserves | 1,042 | 779 |
Stock based compensation | 297 | 208 |
Federal and state credits | 353 | 347 |
Lease obligation | 378 | 0 |
Other | 29 | 0 |
Net operating loss carry forward | 2 | 0 |
Total assets | 2,101 | 1,389 |
Property and equipment | (1,024) | (470) |
Goodwill and intangible assets | (4,685) | (4,278) |
Lease – right of use asset | (376) | 0 |
Prepaid insurance | (182) | (178) |
Total liabilities | (6,267) | (4,926) |
Beginning balance | 0 | 0 |
Increase during period | (27) | 0 |
Ending balance | (27) | 0 |
Deferred Tax Liabilities, Net, Total | (4,193) | (3,537) |
Deferred income tax asset – current | 0 | 0 |
Deferred income tax asset (liability) – long-term | $ (4,193) | $ (3,537) |
Note 12 - Provision for Taxes_5
Note 12 - Provision for Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Balance at beginning of year | $ 0 | $ 0 | $ 0 |
Increases related to current year tax positions | 61 | 0 | 0 |
Balance at end of year | $ 61 | $ 0 | $ 0 |
Note 13 - Operating Segment a_3
Note 13 - Operating Segment and Geographic Information (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020USD ($) | Dec. 28, 2019USD ($) | Dec. 29, 2018USD ($) | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 27.50% | ||
Assets, Total | $ 220,705 | $ 148,779 | $ 149,527 |
Number of Employees Covered Under Collective Bargaining Agreement | 28 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Number of Major Customers | 1 | 1 | 1 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Amazon.com, Inc. [Member] | |||
Concentration Risk, Percentage | 23.00% | 21.00% | 19.00% |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Dick's Sporting Goods [Member] | |||
Concentration Risk, Percentage | 13.00% | 13.00% | 13.00% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Amazon.com, Inc. [Member] | |||
Concentration Risk, Percentage | 26.00% | 27.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Dick's Sporting Goods [Member] | |||
Concentration Risk, Percentage | 11.00% | 18.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Academy Sports and Outdoors, Inc. [Member] | |||
Concentration Risk, Percentage | 14.00% | ||
MEXICO | |||
Assets, Total | $ 16,000 | $ 8,700 |
Note 13 - Operating Segment a_4
Note 13 - Operating Segment and Geographic Information - Operating Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net revenue | $ 74,767 | $ 78,069 | $ 37,289 | $ 47,044 | $ 45,756 | $ 32,102 | $ 83,524 | $ 55,639 | $ 12,978 | $ 273,649 | $ 180,541 | $ 175,780 |
Operating income (loss) | 6,921 | 12,815 | 2,424 | 3,511 | 2,899 | 394 | 10,872 | 2,471 | 33,032 | 9,275 | 13,817 | |
Interest expense (income) | 250 | 356 | 427 | |||||||||
Provision (benefit) for taxes | 6,988 | 1,676 | 6,000 | |||||||||
Net Income | 5,087 | $ 10,186 | $ 1,951 | 2,575 | $ 2,540 | $ 267 | $ 8,710 | $ 1,876 | $ 241 | 25,934 | 7,258 | 20,442 |
Identifiable assets | 220,705 | 148,779 | 220,705 | 148,779 | 149,527 | |||||||
Depreciation and amortization | 4,016 | 4,031 | 3,857 | |||||||||
Capital expenditures | 5,455 | 2,185 | 2,818 | |||||||||
Sporting Goods [Member] | ||||||||||||
Net revenue | 273,649 | 180,541 | 175,780 | |||||||||
Operating income (loss) | 32,685 | 8,611 | 13,999 | |||||||||
Interest expense (income) | 250 | 358 | 427 | |||||||||
Provision (benefit) for taxes | 8,951 | 2,272 | 3,739 | |||||||||
Net Income | 23,625 | 5,997 | 9,869 | |||||||||
Identifiable assets | 211,253 | 141,167 | 211,253 | 141,167 | 142,490 | |||||||
Depreciation and amortization | 4,016 | 4,031 | 3,857 | |||||||||
Capital expenditures | 5,455 | 2,185 | 2,818 | |||||||||
Other Segments [Member] | ||||||||||||
Net revenue | 0 | 0 | 0 | |||||||||
Operating income (loss) | 347 | 664 | (182) | |||||||||
Interest expense (income) | 0 | (2) | 0 | |||||||||
Provision (benefit) for taxes | (1,963) | (596) | 2,261 | |||||||||
Net Income | 2,309 | 1,261 | 10,573 | |||||||||
Identifiable assets | $ 9,452 | $ 7,612 | 9,452 | 7,612 | 7,037 | |||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||
Capital expenditures | $ 0 | $ 0 | $ 0 |
Note 13 - Operating Segment a_5
Note 13 - Operating Segment and Geographic Information - Net Sales by Country (Details) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net sales | $ 74,767 | $ 78,069 | $ 37,289 | $ 47,044 | $ 45,756 | $ 32,102 | $ 83,524 | $ 55,639 | $ 12,978 | $ 273,649 | $ 180,541 | $ 175,780 |
North America [Member] | ||||||||||||
Net sales | 270,173 | 178,069 | 172,656 | |||||||||
Europe [Member] | ||||||||||||
Net sales | 1,555 | 1,001 | 965 | |||||||||
Other [Member] | ||||||||||||
Net sales | $ 1,921 | $ 1,471 | $ 2,159 |
Note 14 - Summary of Quarterl_3
Note 14 - Summary of Quarterly Results - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Net sales | $ 74,767 | $ 78,069 | $ 37,289 | $ 47,044 | $ 45,756 | $ 32,102 | $ 83,524 | $ 55,639 | $ 12,978 | $ 273,649 | $ 180,541 | $ 175,780 |
Operating income (loss) | 6,921 | 12,815 | 2,424 | 3,511 | 2,899 | 394 | 10,872 | 2,471 | 33,032 | 9,275 | 13,817 | |
Net Income | $ 5,087 | $ 10,186 | $ 1,951 | $ 2,575 | $ 2,540 | $ 267 | $ 8,710 | $ 1,876 | $ 241 | $ 25,934 | $ 7,258 | $ 20,442 |
Basic Earnings Per Share Data: (in dollars per share) | $ 0.36 | $ 0.72 | $ 0.14 | $ 0.18 | $ 0.18 | $ 0.02 | $ 0.62 | $ 0.13 | $ 1.84 | $ 0.50 | $ 1.42 | |
Diluted Earnings Per Share Data: (in dollars per share) | $ 0.36 | $ 0.71 | $ 0.14 | $ 0.18 | $ 0.18 | $ 0.02 | $ 0.61 | $ 0.13 | $ 1.82 | $ 0.50 | $ 1.41 |
Note 15 - Acquisitions (Details
Note 15 - Acquisitions (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
American Heritage Billiards and Revel Match LLC [Member] | |||
Business Combination, Consideration Transferred, Total | $ 15.4 | ||
Dura Pickleball [Member] | |||
Business Combination, Consideration Transferred, Total | $ 0.9 | ||
Victory Tailgate, LLC [Member] | |||
Payments to Acquire Businesses, Gross | $ 7.2 |
Note 15 - Acquisitions - Assets
Note 15 - Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Goodwill | $ 32,695 | $ 26,749 | $ 26,381 |
Consideration of holdback provision | 0 | $ 0 | 286 |
American Heritage Billiards and Revel Match LLC [Member] | |||
Accounts receivable, net | 399 | ||
Inventories, net | 3,797 | ||
Other assets | 936 | ||
Goodwill | 5,946 | ||
Intangible assets | 5,277 | ||
Accounts payable | (576) | ||
Other liabilities | (333) | ||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | $ 15,446 | ||
Victory Tailgate, LLC [Member] | |||
Accounts receivable, net | 252 | ||
Inventories, net | 603 | ||
Other assets | 2,003 | ||
Goodwill | 4,833 | ||
Intangible assets | 1,500 | ||
Accounts payable | (2,088) | ||
Other liabilities | (314) | ||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | 6,883 | ||
Cash | 94 | ||
Consideration of holdback provision | 286 | ||
Business Combination, Bargain Purchase, Gain Recognized, Amount | $ 7,169 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies - Estimated Minimum Non-cancelable Royalty and License Payment (Details) $ in Thousands | Dec. 26, 2020USD ($) |
2021 | $ 942 |
2022 | 1,344 |
2023 | 545 |
2024 | 560 |
2025 | 579 |
Thereafter | 2,524 |
Royalty and License Future Minimum Payments, Due | $ 6,494 |
Note 17 - Fair Values of Fina_3
Note 17 - Fair Values of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 26, 2020 | Dec. 28, 2019 |
Cash and cash equivalents | $ 3,505 | $ 5,882 |
Long-term debt | 30,073 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 3,505 | $ 5,882 |
Fair Value, Inputs, Level 2 [Member] | ||
Long-term debt | $ 30,073 |
Note 18 - Revenue from Contra_3
Note 18 - Revenue from Contracts with Customers (Details Textual) $ in Thousands | Dec. 29, 2018USD ($) |
Accrued Liabilities [Member] | |
Contract with Customer, Liability, Current | $ 413 |
Note 18 - Revenue from Contra_4
Note 18 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 5 Months Ended | 12 Months Ended | ||||||||
Dec. 26, 2020 | Oct. 03, 2020 | Mar. 21, 2020 | Dec. 28, 2019 | Oct. 05, 2019 | Mar. 23, 2019 | Jul. 11, 2020 | Jul. 13, 2019 | May 17, 2018 | Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Gross Sales | $ 304,401 | $ 203,372 | $ 195,794 | |||||||||
Returns | 7,837 | 5,415 | 5,085 | |||||||||
Warranties | 1,648 | 1,736 | 1,448 | |||||||||
Customer Allowances | 21,267 | 15,680 | 13,481 | |||||||||
Total Gross-to-Net Sales Adjustments | 30,752 | 22,831 | 20,014 | |||||||||
Total Net Sales | $ 74,767 | $ 78,069 | $ 37,289 | $ 47,044 | $ 45,756 | $ 32,102 | $ 83,524 | $ 55,639 | $ 12,978 | 273,649 | 180,541 | 175,780 |
Mass Merchants [Member] | ||||||||||||
Gross Sales | 104,147 | 66,428 | 68,196 | |||||||||
Specialty Dealers [Member] | ||||||||||||
Gross Sales | 80,419 | 53,878 | 59,211 | |||||||||
E-commerce [Member] | ||||||||||||
Gross Sales | 109,297 | 74,029 | 58,026 | |||||||||
International [Member] | ||||||||||||
Gross Sales | 8,226 | 6,562 | 8,533 | |||||||||
Other Channels [Member] | ||||||||||||
Gross Sales | $ 2,312 | $ 2,475 | $ 1,828 |
Note 18 - Revenue from Contra_5
Note 18 - Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2020 | Dec. 28, 2019 | Dec. 29, 2018 | |
Increase due to cash received, excluding amounts recognized as revenue during the period | $ 0 | $ 0 | $ 413 |
Revenue recognized that was included in the contract liability balance at the beginning of the period | 0 | (413) | 0 |
Increase in contract liability during the period | $ 0 | $ 0 | $ 413 |