Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 19, 2022 | Apr. 08, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000033488 | |
Entity Registrant Name | ESCALADE INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 19, 2022 | |
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 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 Common Stock, Shares Outstanding | 13,585,096 |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Current Assets: | |||
Cash and cash equivalents | $ 6,392 | $ 4,374 | $ 5,879 |
Receivables, less allowance of $566; $457; and $954; respectively | 67,301 | 65,991 | 54,475 |
Inventories | 114,605 | 92,382 | 91,425 |
Prepaid expenses | 12,716 | 7,569 | 4,044 |
Prepaid income tax | 739 | ||
TOTAL CURRENT ASSETS | 201,014 | 171,055 | 155,823 |
Property, plant and equipment, net | 28,812 | 24,936 | 18,962 |
Operating lease right-of-use assets | 1,896 | 2,210 | 2,147 |
Intangible assets, net | 36,208 | 20,778 | 22,216 |
Goodwill | 38,837 | 32,695 | 32,695 |
Other assets | 294 | 124 | 117 |
TOTAL ASSETS | 307,061 | 251,798 | 231,960 |
Current Liabilities: | |||
Current portion of long-term debt | 7,143 | 7,143 | |
Trade accounts payable | 27,378 | 15,847 | 22,708 |
Accrued liabilities | 19,875 | 24,385 | 12,194 |
Income tax payable | 1,087 | 1,456 | |
Current operating lease liabilities | 604 | 818 | 1,310 |
TOTAL CURRENT LIABILITIES | 56,087 | 48,193 | 37,668 |
Other Liabilities: | |||
Long-term debt | 92,850 | 50,396 | 46,907 |
Deferred income tax liability | 4,759 | 4,759 | 4,193 |
Operating lease liabilities | 1,298 | 1,387 | 844 |
Other liabilities | 448 | 448 | 448 |
TOTAL LIABILITIES | 155,442 | 105,183 | 90,060 |
Stockholders' Equity: | |||
Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding – 13,585,096; 13,493,332; and 13,924,754; shares respectively | 13,585 | 13,493 | 13,925 |
Retained earnings | 138,034 | 133,122 | 127,975 |
TOTAL STOCKHOLDERS' EQUITY | 151,619 | 146,615 | 141,900 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 307,061 | $ 251,798 | $ 231,960 |
Consolidated Condensed Balanc_2
Consolidated Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Receivables, allowance | $ 566 | $ 457 | $ 954 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 | 30,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 13,585,096 | 13,493,332 | 13,924,754 |
Common stock, shares outstanding (in shares) | 13,585,096 | 13,493,332 | 13,924,754 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Net sales | $ 72,380 | $ 59,191 |
Costs and Expenses | ||
Cost of products sold | 52,261 | 41,757 |
Selling, administrative and general expenses | 10,526 | 9,876 |
Amortization | 570 | 429 |
Operating Income | 9,023 | 7,129 |
Other Income (Expense) | ||
Interest expense | (560) | (234) |
Other income | 43 | 35 |
Income Before Income Taxes | 8,506 | 6,930 |
Provision for Income Taxes | 1,852 | 1,488 |
Net Income | $ 6,654 | $ 5,442 |
Earnings Per Share Data: | ||
Basic earnings per share (in dollars per share) | $ 0.49 | $ 0.39 |
Diluted earnings per share (in dollars per share) | 0.49 | 0.39 |
Dividends declared (in dollars per share) | $ 0.15 | $ 0.14 |
Consolidated Condensed Statem_2
Consolidated Condensed Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Dec. 26, 2020 | 13,919 | ||
Balances at Dec. 26, 2020 | $ 13,919 | $ 125,237 | $ 139,156 |
Net income | 5,442 | 5,442 | |
Expense of stock options and restricted stock units | 111 | 111 | |
Exercise of stock options (in shares) | 10 | ||
Exercise of stock options | $ 10 | 134 | 144 |
Settlement of restricted stock units (in shares) | 45 | ||
Settlement of restricted stock units | $ 45 | (45) | 0 |
Dividends declared | (1,950) | (1,950) | |
Purchase of stock (in shares) | (49) | ||
Purchase of stock | $ (49) | (954) | (1,003) |
Balances (in shares) at Mar. 20, 2021 | 13,925 | ||
Balances at Mar. 20, 2021 | $ 13,925 | 127,975 | 141,900 |
Balances (in shares) at Dec. 25, 2021 | 13,493 | ||
Balances at Dec. 25, 2021 | $ 13,493 | 133,122 | 146,615 |
Net income | 6,654 | 6,654 | |
Settlement of restricted stock units (in shares) | 92 | ||
Settlement of restricted stock units | $ 92 | (92) | 0 |
Dividends declared | (2,038) | (2,038) | |
Expense of restricted stock units | 388 | 388 | |
Balances (in shares) at Mar. 19, 2022 | 13,585 | ||
Balances at Mar. 19, 2022 | $ 13,585 | $ 138,034 | $ 151,619 |
Consolidated Condensed Statem_3
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Operating Activities: | ||
Net income | $ 6,654 | $ 5,442 |
Depreciation and amortization | 1,473 | 1,134 |
Provision for doubtful accounts | 99 | 55 |
Stock-based compensation | 388 | 111 |
Loss (gain) on disposal of property and equipment | (26) | |
Adjustments necessary to reconcile net income to net cash provided by operating activities | (11,486) | (16,958) |
Net cash used by operating activities | (2,872) | (10,242) |
Investing Activities: | ||
Purchase of property and equipment | (730) | (1,451) |
Proceeds from sale of property and equipment | 42 | |
Acquisitions | (34,616) | |
Net cash used by investing activities | (35,346) | (1,409) |
Financing Activities: | ||
Proceeds from issuance of long-term debt | 72,830 | 49,072 |
Payments on long-term debt | (30,376) | (32,238) |
Proceeds from exercise of stock options | 144 | |
Purchase of stock | (1,003) | |
Deferred financing fees | (180) | |
Cash dividends paid | (2,038) | (1,950) |
Net cash provided by financing activities | 40,236 | 14,025 |
Net increase in cash and cash equivalents | 2,018 | 2,374 |
Cash and cash equivalents, beginning of period | 4,374 | 3,505 |
Cash and cash equivalents, end of period | $ 6,392 | $ 5,879 |
Note A - Summary of Significant
Note A - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note A – Summary of Significant Accounting Policies Presentation of Consolidated Condensed Financial Statements December 25, 2021 10 2021 |
Note B - Seasonal Aspects
Note B - Seasonal Aspects | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Seasonal Aspects [Text Block] | Note B ‑ Seasonal Aspects The results of operations for the three March 19, 2022 March 20, 2021 not |
Note C - Inventories
Note C - Inventories | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note C ‑ Inventories In thousands March 19, 2022 December 25, March 20, 2021 Raw materials $ 9,395 $ 9,142 $ 9,749 Work in progress 4,318 3,529 4,074 Finished goods 100,892 79,711 77,602 $ 114,605 $ 92,382 $ 91,425 |
Note D - Fair Values of Financi
Note D - Fair Values of Financial Instruments | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note D – Fair Values of Financial Instruments Cash and Cash Equivalents Fair values of cash and cash equivalents approximate cost due to the short period of time to maturity. Long-term Debt Fair values of long-term debt is estimated based on borrowing rates currently available to the Company for bank loans with similar terms and maturities and determined through the use of a discounted cash flow model. The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 March 19, 2022, December 25, 2021 March 20, 2021. Fair Value Measurements Using March 19, 2022 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 6,392 $ 6,392 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 92,850 $ -- $ 92,850 $ -- Fair Value Measurements Using December 25, 2021 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 4,374 $ 4,374 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 50,396 $ -- $ 50,396 $ -- Fair Value Measurements Using March 20, 2021 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 5,879 $ 5,879 $ -- $ -- Financial liabilities Long-term debt $ 46,907 $ -- $ 46,907 $ -- |
Note E - Stock Compensation
Note E - Stock Compensation | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note E – Stock Compensation The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation During the three March 19, 2022, two one one one two no 2022 three one third one one third two one third three For the three March 19, 2022 March 20, 2021, March 19, 2022 March 20, 2021, |
Note F - Segment Information
Note F - Segment Information | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note F ‑ Segment Information As of and for the Three Months Ended March 19, 2022 In thousands Sporting Goods Corp. Total Revenues from external customers $ 72,380 $ -- $ 72,380 Operating income (loss) 9,535 (512 ) 9,023 Net income 6,541 113 6,654 Total assets $ 300,074 $ 6,987 $ 307,061 As of and for the Three Months Ended March 20, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 59,191 $ -- $ 59,191 Operating income (loss) 7,595 (466 ) 7,129 Net income (loss) 5,362 80 5,442 Total assets $ 225,183 $ 6,777 $ 231,960 |
Note G - Dividend Payment
Note G - Dividend Payment | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Dividend Payment Terms [Text Block] | Note G – Dividend Payment On March 21, 2022, March 14, 2022 ( March 17, 2022). |
Note H - Earnings Per Share
Note H - Earnings Per Share | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note H ‑ Earnings Per Share The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: Three Months Ended In thousands March 19, 2022 March 20, 2021 Weighted average common shares outstanding 13,509 13,880 Dilutive effect of stock options and restricted stock units 138 97 Weighted average common shares outstanding, assuming dilution 13,647 13,977 Stock options that are anti-dilutive as to earnings per share and unvested restricted stock units which have a market condition for vesting that has not 2022 2021 zero |
Note I - New Accounting Standar
Note I - New Accounting Standards and Changes in Accounting Principles | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note I – New Accounting Standards and Changes in Accounting Principles There have been no three March 19, 2022, 10 December 25, 2021, |
Note J - Revenue From Contracts
Note J - Revenue From Contracts With Customers | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note J – Revenue from Contracts with Customers Revenue Recognition Gross-to-net sales adjustments one three Returns Warranties Customer Allowances Disaggregation of Revenue Three Months Ended All Amounts in Thousands March 19, 2022 March 20, 2021 Gross Sales by Channel: Mass Merchants $ 27,030 $ 18,396 Specialty Dealers 25,343 22,560 E-commerce 22,856 21,226 International 4,080 2,727 Other 774 571 Total Gross Sales 80,083 65,480 Less: Gross-to-Net Sales Adjustments Returns 2,170 1,615 Warranties 625 582 Customer Allowances 4,908 4,092 Total Gross-to-Net Sales Adjustments 7,703 6,289 Total Net Sales $ 72,380 $ 59,191 |
Note K - Leases
Note K - Leases | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note K – Leases We have operating leases for office, manufacturing and distribution facilities as well as for certain equipment. Our commenced leases have remaining lease terms of 1 year to 5 years. As of March 19, 2022, 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 Three Months Ended All Amounts in Thousands March 19, 2022 March 20, 2021 Lease Expense Operating Lease Cost $ 338 $ 311 Short-term Lease Cost 501 523 Variable Lease Cost 182 86 Total Operating Lease Cost $ 1,021 $ 920 Operating Lease – Operating Cash Flows $ 303 $ 255 New ROU Assets – Operating Leases (non-cash) $ -- $ 827 Weighted Average Remaining Lease Term – Operating Leases (in years) 4.12 1.90 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % Future minimum lease payments under non-cancellable leases as of March 19, 2022 All Amounts in Thousands Year 1 $ 563 Year 2 412 Year 3 341 Year 4 312 Year 5 289 Thereafter 197 Total future minimum lease payments 2,114 Less imputed interest (212 ) Total $ 1,902 Reported as of March 19, 2022 Current operating lease liabilities 604 Long-term operating lease liabilities 1,298 Total $ 1,902 As of March 19, 2022, not not not not |
Note L - Commitments and Contin
Note L - Commitments and Contingencies | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note L – Commitments and Contingencies The Company is involved in litigation arising in the normal course of business. The Company does not |
Note M - Acquisition
Note M - Acquisition | 3 Months Ended |
Mar. 19, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note M – Acquisition On January 21, 2022, not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 19, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Presentation of Consolidated Condensed Financial Statements December 25, 2021 10 2021 |
Note C - Inventories (Tables)
Note C - Inventories (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | In thousands March 19, 2022 December 25, March 20, 2021 Raw materials $ 9,395 $ 9,142 $ 9,749 Work in progress 4,318 3,529 4,074 Finished goods 100,892 79,711 77,602 $ 114,605 $ 92,382 $ 91,425 |
Note D - Fair Values of Finan_2
Note D - Fair Values of Financial Instruments (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using March 19, 2022 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 6,392 $ 6,392 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 92,850 $ -- $ 92,850 $ -- Fair Value Measurements Using December 25, 2021 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 4,374 $ 4,374 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 50,396 $ -- $ 50,396 $ -- Fair Value Measurements Using March 20, 2021 In thousands Carrying Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 5,879 $ 5,879 $ -- $ -- Financial liabilities Long-term debt $ 46,907 $ -- $ 46,907 $ -- |
Note F - Segment Information (T
Note F - Segment Information (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of and for the Three Months Ended March 19, 2022 In thousands Sporting Goods Corp. Total Revenues from external customers $ 72,380 $ -- $ 72,380 Operating income (loss) 9,535 (512 ) 9,023 Net income 6,541 113 6,654 Total assets $ 300,074 $ 6,987 $ 307,061 As of and for the Three Months Ended March 20, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 59,191 $ -- $ 59,191 Operating income (loss) 7,595 (466 ) 7,129 Net income (loss) 5,362 80 5,442 Total assets $ 225,183 $ 6,777 $ 231,960 |
Note H - Earnings Per Share (Ta
Note H - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months Ended In thousands March 19, 2022 March 20, 2021 Weighted average common shares outstanding 13,509 13,880 Dilutive effect of stock options and restricted stock units 138 97 Weighted average common shares outstanding, assuming dilution 13,647 13,977 |
Note J - Revenue From Contrac_2
Note J - Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended All Amounts in Thousands March 19, 2022 March 20, 2021 Gross Sales by Channel: Mass Merchants $ 27,030 $ 18,396 Specialty Dealers 25,343 22,560 E-commerce 22,856 21,226 International 4,080 2,727 Other 774 571 Total Gross Sales 80,083 65,480 Less: Gross-to-Net Sales Adjustments Returns 2,170 1,615 Warranties 625 582 Customer Allowances 4,908 4,092 Total Gross-to-Net Sales Adjustments 7,703 6,289 Total Net Sales $ 72,380 $ 59,191 |
Note K - Leases (Tables)
Note K - Leases (Tables) | 3 Months Ended |
Mar. 19, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended All Amounts in Thousands March 19, 2022 March 20, 2021 Lease Expense Operating Lease Cost $ 338 $ 311 Short-term Lease Cost 501 523 Variable Lease Cost 182 86 Total Operating Lease Cost $ 1,021 $ 920 Operating Lease – Operating Cash Flows $ 303 $ 255 New ROU Assets – Operating Leases (non-cash) $ -- $ 827 Weighted Average Remaining Lease Term – Operating Leases (in years) 4.12 1.90 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | All Amounts in Thousands Year 1 $ 563 Year 2 412 Year 3 341 Year 4 312 Year 5 289 Thereafter 197 Total future minimum lease payments 2,114 Less imputed interest (212 ) Total $ 1,902 Reported as of March 19, 2022 Current operating lease liabilities 604 Long-term operating lease liabilities 1,298 Total $ 1,902 |
Note C - Inventories - Inventor
Note C - Inventories - Inventories (Details) - USD ($) $ in Thousands | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Raw materials | $ 9,395 | $ 9,142 | $ 9,749 |
Work in progress | 4,318 | 3,529 | 4,074 |
Finished goods | 100,892 | 79,711 | 77,602 |
Inventory, Net, Total | $ 114,605 | $ 92,382 | $ 91,425 |
Note D - Fair Values of Finan_3
Note D - Fair Values of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Cash and cash equivalents | $ 6,392 | $ 4,374 | $ 5,879 |
Current portion of long-term debt | 7,143 | 7,143 | |
Long-term debt | 92,850 | 50,396 | 46,907 |
Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 6,392 | 4,374 | 5,879 |
Fair Value, Inputs, Level 2 [Member] | |||
Current portion of long-term debt | 7,143 | 7,143 | |
Long-term debt | $ 92,850 | $ 50,396 | $ 46,907 |
Note E - Stock Compensation (De
Note E - Stock Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Share-based Payment Arrangement, Expense | $ 388 | $ 111 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,200 | $ 1,500 |
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) | 196,254 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
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) | 15,000 | |
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% |
Note F - Segment Information -
Note F - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 19, 2022 | Mar. 20, 2021 | Dec. 25, 2021 | |
Revenues from external customers | $ 72,380 | $ 59,191 | |
Operating income (loss) | 9,023 | 7,129 | |
Net income | 6,654 | 5,442 | |
Total assets | 307,061 | 231,960 | $ 251,798 |
Sporting Goods [Member] | |||
Revenues from external customers | 72,380 | 59,191 | |
Operating income (loss) | 9,535 | 7,595 | |
Net income | 6,541 | 5,362 | |
Total assets | 300,074 | 225,183 | |
Corporate Segment [Member] | |||
Operating income (loss) | (512) | (466) | |
Net income | 113 | 80 | |
Total assets | $ 6,987 | $ 6,777 |
Note G - Dividend Payment (Deta
Note G - Dividend Payment (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Mar. 21, 2022 | Mar. 19, 2022 | Mar. 20, 2021 |
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.15 | ||
Dividends, Common Stock, Cash | $ 2,000 | $ 2,038 | $ 1,950 |
Note H - Earnings Per Share (De
Note H - Earnings Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 11,900 |
Note H - Earnings Per Share - E
Note H - Earnings Per Share - Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Weighted average common shares outstanding (in shares) | 13,509 | 13,880 |
Dilutive effect of stock options and restricted stock units (in shares) | 138 | 97 |
Weighted average common shares outstanding, assuming dilution (in shares) | 13,647 | 13,977 |
Note J - Revenue from Contrac_3
Note J - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Gross Sales | $ 80,083 | $ 65,480 |
Returns | 2,170 | 1,615 |
Warranties | 625 | 582 |
Customer Allowances | 4,908 | 4,092 |
Total Gross-to-Net Sales Adjustments | 7,703 | 6,289 |
Total Net Sales | 72,380 | 59,191 |
Mass Merchants [Member] | ||
Gross Sales | 27,030 | 18,396 |
Specialty Dealers [Member] | ||
Gross Sales | 25,343 | 22,560 |
E-commerce [Member] | ||
Gross Sales | 22,856 | 21,226 |
International [Member] | ||
Gross Sales | 4,080 | 2,727 |
Other Channels [Member] | ||
Gross Sales | $ 774 | $ 571 |
Note K - Leases (Details Textua
Note K - Leases (Details Textual) $ in Millions | Mar. 19, 2022USD ($) |
Lessee, Operating Lease, Lease Not yet Commenced, Minimum Lease Payments | $ 9.9 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 5 years |
Note K - Leases - Lease Cost (D
Note K - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 19, 2022 | Mar. 20, 2021 | |
Operating Lease Cost | $ 338 | $ 311 |
Short-term Lease Cost | 501 | 523 |
Variable Lease Cost | 182 | 86 |
Total Operating Lease Cost | 1,021 | 920 |
Operating Lease – Operating Cash Flows | $ 303 | 255 |
New ROU Assets – Operating Leases (non-cash) | $ 827 | |
Weighted Average Remaining Lease Term – Operating Leases (in years) (Year) | 4 years 1 month 13 days | 1 year 10 months 24 days |
Weighted Average Discount Rate – Operating Leases | 5.00% | 5.00% |
Note K - Leases - Future Minimu
Note K - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Year 1 | $ 563 | ||
Year 2 | 412 | ||
Year 3 | 341 | ||
Year 4 | 312 | ||
Year 5 | 289 | ||
Thereafter | 197 | ||
Total future minimum lease payments | 2,114 | ||
Less imputed interest | (212) | ||
Total | 1,902 | ||
Current operating lease liabilities | 604 | $ 818 | $ 1,310 |
Long-term operating lease liabilities | 1,298 | $ 1,387 | $ 844 |
Total | $ 1,902 |
Note M - Acquisition (Details T
Note M - Acquisition (Details Textual) - USD ($) $ in Thousands | Jan. 21, 2022 | Mar. 19, 2022 | Dec. 25, 2021 | Mar. 20, 2021 |
Goodwill, Ending Balance | $ 38,837 | $ 32,695 | $ 32,695 | |
Life Fitness LLC [Member] | ||||
Business Combination, Consideration Transferred, Total | $ 34,600 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 1,200 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 14,500 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 4,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 4,700 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 2,600 | |||
Goodwill, Ending Balance | 6,100 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 16,000 |