Supreme Industries (STS) 10-Q 5 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 28, 2013	Oct. 22, 2013	Oct. 22, 2013
		Class A Common Stock	Class B Common Stock
Entity Registrant Name	'SUPREME INDUSTRIES INC	'	'
Entity Central Index Key	'0000350846	'	'
Document Type	'10-Q	'	'
Document Period End Date	28-Sep-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-28	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Common Stock, Shares Outstanding	'	14,522,675	1,771,949
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 28, 2013	Dec. 29, 2012
Current assets:	'	'
Cash and cash equivalents	$19,838	$59,056
Investments	2,866,350	2,887,172
Accounts receivable, net	23,143,545	18,781,735
Inventories	36,983,687	32,308,931
Deferred income taxes	2,025,718	2,298,181
Other current assets	4,574,635	4,672,211
Total current assets	69,613,773	61,007,286
Property, plant and equipment, at cost	94,573,923	92,795,659
Less, Accumulated depreciation and amortization	49,840,247	49,857,671
Property, plant and equipment, net	44,733,676	42,937,988
Other assets	1,295,885	1,142,809
Total assets	115,643,334	105,088,083
Current liabilities:	'	'
Current maturities of long-term debt	666,668	16,934
Trade accounts payable	15,059,061	11,936,544
Other accrued liabilities	11,037,225	10,409,930
Total current liabilities	26,762,954	22,363,408
Long-term debt	15,089,171	14,089,063
Deferred income taxes	1,430,729	1,472,730
Other long-term liabilities	50,048	'
Total liabilities	43,332,902	37,925,201
Stockholders' equity	72,310,432	67,162,882
Total liabilities and stockholders' equity	$115,643,334	$105,088,083

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	'	'	'	'
Net sales	$67,310,853	$71,671,126	$209,738,971	$228,411,988
Cost of sales	56,629,738	60,097,281	174,045,648	192,508,241
Gross profit	10,681,115	11,573,845	35,693,323	35,903,747
Selling, general and administrative expenses	8,354,912	7,570,491	25,507,577	24,231,123
Legal settlement and related costs	'	328,415	3,600,161	455,415
Other income	-94,227	-174,445	-827,008	-766,585
Operating income	2,420,430	3,849,384	7,412,593	11,983,794
Interest expense	315,963	149,710	537,354	729,520
Income before income taxes	2,104,467	3,699,674	6,875,239	11,254,274
Income tax expense (benefit)	573,030	129,183	2,114,865	-195,134
Net income	1,531,437	3,570,491	4,760,374	11,449,408
Other comprehensive income (loss)	-31,265	1,814	-62,534	2,561
Total comprehensive income	$1,500,172	$3,572,305	$4,697,840	$11,451,969
Income per share:	'	'	'	'
Basic (in dollars per share)	$0.09	$0.22	$0.30	$0.72
Diluted (in dollars per share)	$0.09	$0.22	$0.29	$0.71
Shares used in the computation of income per share:	'	'	'	'
Basic (in shares)	16,160,518	15,966,506	16,087,864	15,945,830
Diluted (in shares)	16,546,113	16,243,852	16,425,542	16,209,108

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012
Cash flows from operating activities:	'	'
Net income	$4,760,374	$11,449,408
Adjustments to reconcile net income to net cash from operating activities:	'	'
Depreciation and amortization	2,657,081	2,363,367
Provision for losses on doubtful receivables	77,278	30,034
Deferred income taxes	230,462	-817,134
Stock-based compensation expense	313,563	216,834
Gains on sale of property, plant and equipment, net	-352,893	-362,098
Changes in operating assets and liabilities	-5,382,460	-4,935,149
Net cash provided by operating activities	2,303,405	7,945,262
Cash flows from investing activities:	'	'
Additions to property, plant and equipment	-5,042,419	-5,354,288
Proceeds from sale of property, plant and equipment	1,251,959	4,213,153
Purchases of investments	-20,824	-11,635
Proceeds from sale of investments	41,646	'
Decrease in other assets	'	129,878
Net cash used in investing activities	-3,769,638	-1,022,892
Cash flows from financing activities:	'	'
Proceeds from revolving line of credit and other long-term debt	59,583,131	226,248,425
Repayments of revolving line of credit and other long-term debt	-57,933,289	-229,906,247
Payment of debt issuance costs	-358,975	'
Proceeds from exercise of stock options	136,148	88,515
Net cash provided by (used in) financing activities	1,427,015	-3,569,307
Change in cash and cash equivalents	-39,218	3,353,063
Cash and cash equivalents, beginning of period	59,056	106,833
Cash and cash equivalents, end of period	$19,838	$3,459,896

BASIS_OF_PRESENTATION_AND_OPIN

BASIS OF PRESENTATION AND OPINION OF MANAGEMENT	9 Months Ended
	Sep. 28, 2013
BASIS OF PRESENTATION AND OPINION OF MANAGEMENT	'
BASIS OF PRESENTATION AND OPINION OF MANAGEMENT	'
	NOTE 1 — BASIS OF PRESENTATION AND OPINION OF MANAGEMENT
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all of the information and financial statement disclosures necessary for a fair presentation of consolidated financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America.  In the opinion of management, the information furnished herein includes all adjustments necessary to reflect a fair presentation of the interim periods reported.  The December 29, 2012 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.  References to “we,” “us,” “our,” “its,” “Supreme,” or the “Company” refer to Supreme Industries, Inc. and its subsidiaries.
	The Company has adopted a 52- or 53-week fiscal year ending the last Saturday in December.  The results of operations for the three and nine months ended September 28, 2013 and September 29, 2012 are for 13-week and 39-week periods, respectively.
	Stock Dividend
	On May 8, 2013, the Company’s Board of Directors declared a five percent (5%) stock dividend on its outstanding Class A and Class B Common Stock. Stockholders of record on May 20, 2013 received a stock dividend for each share owned on that date, paid on June 3, 2013. All share and per share data have been adjusted to reflect the stock dividend on a retroactive basis.
	Reclassification
	Certain amounts in the prior year unaudited condensed consolidated financial statements have been reclassified to conform with the current year presentation.  These reclassifications had no effect on net income, stockholders’ equity, or total assets as previously reported.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 28, 2013
INVENTORIES	'
INVENTORIES	'
	NOTE 2 — INVENTORIES
	Inventories, which are stated at the lower of cost or market with cost determined using the first-in, first-out method, consist of the following:
		September 28,		December 29,
		2013		2012
	Raw materials	$	23,284,651	$	21,557,053
	Work-in-progress	4,741,838		3,654,801
	Finished goods	8,957,198		7,097,077
		$	36,983,687	$	32,308,931

OTHER_CURRENT_ASSETS

OTHER CURRENT ASSETS	9 Months Ended
	Sep. 28, 2013
OTHER CURRENT ASSETS	'
OTHER CURRENT ASSETS	'
	NOTE 3 — OTHER CURRENT ASSETS
	Other current assets include assets held for sale of $2.0 million and $2.1 million at September 28, 2013 and December 29, 2012, respectively.  During the first quarter of 2013, the Company realized a gain of approximately $0.4 million on the sale of real estate. Additionally, during the third quarter of 2013, the Company reclassified approximately $0.7 million of real estate from property, plant, and equipment to assets held for sale.

FAIR_VALUE_MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 28, 2013
FAIR VALUE MEASUREMENT	'
FAIR VALUE MEASUREMENT	'
	NOTE 4 — FAIR VALUE MEASUREMENT
	Generally accepted accounting principles (“GAAP”) define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.  The standard describes three levels of inputs that may be used to measure fair value:
	Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.
	Level 2: Significant other observable inputs (other than Level 1 prices such as quoted prices for similar assets or liabilities); quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
	Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
	The Company used the following methods and significant assumptions to estimate the fair value of items:
	Investments:  The fair values of investments available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs).
	Derivatives:  Our derivative instruments consist of interest rate swaps, currently reflected as other long-term liabilities on the Consolidated Condensed Balance Sheets. The Company obtains fair values from financial institutions that utilize internal models with observable market data inputs to estimate the fair value of these instruments (Level 2 inputs).
	The carrying amounts of cash and cash equivalents, accounts receivable, and trade accounts payable approximated fair value as of September 28, 2013, and December 29, 2012, because of the relatively short maturities of these financial instruments.  The carrying amount of long-term debt, including current maturities, approximated fair value as of September 28, 2013, and December 29, 2012, based upon terms and conditions available to the Company at those dates in comparison to the terms and conditions of its outstanding long-term debt.

LONGTERM_DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 28, 2013
LONG-TERM DEBT	'
LONG-TERM DEBT	'
	NOTE 5 — LONG-TERM DEBT
	Credit Agreement
	On December 19, 2012, the Company entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank (the “Lender”). Under the terms of the Credit Agreement, Lender agrees to provide to the Company a credit facility of up to $45.0 million, consisting of a revolving credit facility, a term loan facility, and a letter of credit facility. The Credit Agreement is for a period of five years ending on December 19, 2017.  The Company had unused credit capacity of $25.4 million at September 28, 2013. Interest on outstanding borrowings under the Credit Agreement is based on the Lender’s prime rate or LIBOR depending on the pricing option selected and the Company’s leverage ratio (as defined in the Credit Agreement) resulting in an effective interest rate of 2.53% at September 28, 2013.
	Revolving Credit Facility
	The revolving credit facility provides for borrowings of up to $35.0 million. The Company’s cash management system and revolving credit facility are designed to maintain zero cash balances and, accordingly, checks outstanding in excess of bank balances are classified as borrowings under the revolving credit facility.  Checks outstanding in excess of bank balances were $2.3 million and additional borrowings against the revolving credit facility totaled $3.6 million at September 28, 2013. The revolving credit facility also requires a quarterly commitment fee ranging from 0.20% to 0.50% per annum depending on the Company’s financial ratios and based upon the average daily unused portion.
	Term Loan Facility
	The term loan facility provides for borrowings of up to $10.0 million. Effective April 29, 2013, the Company and the Lender entered into a $10.0 million term loan. The term loan is secured by real estate and improvements, payable in quarterly installments of $166,667 commencing on June 28, 2013, plus interest at the Lender’s prime rate or LIBOR (as defined in the Credit Agreement), through maturity on December 19, 2017. As of September 28, 2013, the outstanding balance under the term loan facility was $9.8 million.
	On August 9, 2013, the Company entered into an interest rate swap agreement for a portion of the term loan with a notional amount of $5.0 million. The interest rate swap agreement provides for a 3.1% fixed interest rate and matures on December 19, 2017. The Company designated this swap agreement as a cash flow hedge on its variable rate debt and will record the fair value of the swap agreement as an asset or liability on the balance sheet, with changes in fair value recognized in other comprehensive income (loss).
	Letter of Credit Facility
	Outstanding letters of credit, related to the Company’s workers’ compensation insurance policies, reduce available borrowings under the Credit Agreement and aggregated $3.7 million at September 28, 2013.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 28, 2013
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	NOTE 6 — STOCK-BASED COMPENSATION
	The following table summarizes the activity for the unvested restricted stock for the nine months ended September 28, 2013:
				Weighted -
				Average
				Grant Date
		Shares		Fair Value
	Unvested, December 29, 2012	—		$	—
	Granted	139,581		4.17
	Vested	(22,836	)	4.01
	Unvested, September 28, 2013	116,745		4.19
	The total fair value of shares vested during the nine months ended September 28, 2013 was $93,515.
	A summary of the status of the Company’s outstanding stock options as of September 28, 2013, and changes during the nine months ended September 28, 2013 are as follows:
				Weighted -
				Average
		Number of		Exercise
		Shares		Price
	Outstanding, December 29, 2012	1,007,798		$	3.74
	Granted	—		—
	Exercised	(111,995	)	1.89
	Expired	(272,462	)	6.29
	Forfeited	(84,015	)	4.29
	Outstanding, September 28, 2013	539,326			2.78
	As of September 28, 2013, outstanding exercisable options had an intrinsic value of $1,595,848 and a weighted-average remaining contractual life of 2.7 years.
	Total unrecognized compensation expense related to all share-based awards outstanding at September 28, 2013, was $489,133 and will be recorded over a weighted average contractual life of 2.5 years.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 28, 2013
INCOME TAXES	'
INCOME TAXES	'
	NOTE 7 — INCOME TAXES
	For the three and nine months ended September 28, 2013, the Company recorded income tax expense of $0.6 million and $2.1 million, respectively, at an effective tax rate of 27.2% and 30.8%, respectively, which differed from the federal statutory rate primarily because of state income tax and federal permanent income tax differences.  For the three and nine months ended September 29, 2012, the Company recorded income tax expense of $0.1 million and an income tax benefit of $0.2 million, respectively, resulting from the reversal of a deferred tax valuation allowance due to improved profitability during that period.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 28, 2013
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 8 — COMMITMENTS AND CONTINGENCIES
	In October of 2011, the Company was named a defendant in a personal injury suit (Paul Gendrolis and Katherine Gendrolis v. Saxon Fleet Sales, Kolstad Company, and Supreme Industries, Inc.) which was filed in the United States District Court, District of Massachusetts.  The complaint sought $10 million in damages based on allegations that a truck body manufactured by the Company contained an improperly installed plate or lip, which caused Mr. Gendrolis to trip and become injured.  Claims alleged against the Company included negligence, breach of warranty, breach of consumer protection laws, and loss of consortium. In September 2013, the parties mediated and reached a settlement to this litigation.  The Company’s contribution to the settlement was the remainder of its self-insurance deductible, in the amount of $0.1 million.  The remainder of the settlement above was paid by insurance.
	In February of 2012, the Company was named a defendant in a claim that a fleet of buses manufactured by the Company was defective (King County v. Supreme Corporation) which was filed in Superior Court in King County, Washington.  King County sought to revoke its acceptance of a fleet of thirty-five buses which had been manufactured by the Company and sold to King County, and alleged breach of contract and breach of implied warranties.  As of February 28, 2013, King County claimed its damages were $10.6 million and subsequently moved to add a consumer protection act claim which would have permitted an award of attorney’s fees, if successful.  On June 14, 2013, the Company and King County entered into a Settlement and Release Agreement under the terms of which the lawsuit would be dismissed and mutual releases granted in exchange for payment of the sum of $4.7 million to King County within ninety days of the date of the agreement and the return of thirty-five buses to the Company.  Through separate agreements, the Company settled third-party claims against certain third-party subcontractors who have contributed to the Company $520,000 of the settlement funds, with the Company responsible for the balance which was paid on September 9, 2013.  The Company assigned an estimated $1.1 million to the returned product.  Including the legal settlement and related costs, the Company recorded a pre-tax charge of $3.6 million for the first nine months of 2013.

BASIS_OF_PRESENTATION_AND_OPIN1

BASIS OF PRESENTATION AND OPINION OF MANAGEMENT (Policies)	9 Months Ended
	Sep. 28, 2013
BASIS OF PRESENTATION AND OPINION OF MANAGEMENT	'
Stock Dividend	'
	Stock Dividend
	On May 8, 2013, the Company’s Board of Directors declared a five percent (5%) stock dividend on its outstanding Class A and Class B Common Stock. Stockholders of record on May 20, 2013 received a stock dividend for each share owned on that date, paid on June 3, 2013. All share and per share data have been adjusted to reflect the stock dividend on a retroactive basis.
Reclassification	'
	Reclassification
	Certain amounts in the prior year unaudited condensed consolidated financial statements have been reclassified to conform with the current year presentation.  These reclassifications had no effect on net income, stockholders’ equity, or total assets as previously reported.

INVENTORIES_Tables

INVENTORIES (Tables)	9 Months Ended
	Sep. 28, 2013
INVENTORIES	'
Schedule of inventories	'
		September 28,		December 29,
		2013		2012
	Raw materials	$	23,284,651	$	21,557,053
	Work-in-progress	4,741,838		3,654,801
	Finished goods	8,957,198		7,097,077
		$	36,983,687	$	32,308,931

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 28, 2013
STOCK-BASED COMPENSATION	'
Schedule of the activity for unvested restricted stock	'
				Weighted -
				Average
				Grant Date
		Shares		Fair Value
	Unvested, December 29, 2012	—		$	—
	Granted	139,581		4.17
	Vested	(22,836	)	4.01
	Unvested, September 28, 2013	116,745		4.19
Summary of the status of outstanding stock options and changes during the period	'
				Weighted -
				Average
		Number of		Exercise
		Shares		Price
	Outstanding, December 29, 2012	1,007,798		$	3.74
	Granted	—		—
	Exercised	(111,995	)	1.89
	Expired	(272,462	)	6.29
	Forfeited	(84,015	)	4.29
	Outstanding, September 28, 2013	539,326			2.78

BASIS_OF_PRESENTATION_AND_OPIN2

BASIS OF PRESENTATION AND OPINION OF MANAGEMENT (Details)	3 Months Ended		9 Months Ended		0 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012	8-May-13	8-May-13	Sep. 28, 2013	Sep. 28, 2013
					Class A Common Stock	Class B Common Stock	Minimum	Maximum
Basis of presentation and opinion of management	'	'	'	'	'	'	'	'
Length of fiscal years	'91 days	'91 days	'273 days	'273 days	'	'	'364 days	'371 days
Stock Dividend	'	'	'	'	'	'	'	'
Percentage of dividend declared	'	'	'	'	5.00%	5.00%	'	'

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Sep. 28, 2013	Dec. 29, 2012
INVENTORIES	'	'
Raw materials	$23,284,651	$21,557,053
Work-in-progress	4,741,838	3,654,801
Finished goods	8,957,198	7,097,077
Total	$36,983,687	$32,308,931

OTHER_CURRENT_ASSETS_Details

OTHER CURRENT ASSETS (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 28, 2013	Mar. 30, 2013	Dec. 29, 2012
OTHER CURRENT ASSETS	'	'	'
Assets held for sale	$2	'	$2.10
Gain realized on the sale of real estate	'	0.4	'
Reclassification of real estate from property, plant, and equipment to assets held for sale	$0.70	'	'

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)

Sep. 28, 2013

Dec. 19, 2012

Sep. 28, 2013

Sep. 28, 2013

Dec. 19, 2012

Sep. 29, 2013

Sep. 29, 2013

Aug. 09, 2013

Jun. 28, 2013

Sep. 28, 2013

Apr. 29, 2013

Dec. 19, 2012

Sep. 28, 2013

Credit Agreement

Credit Agreement

Revolving Line of Credit

Revolving Line of Credit

Revolving Line of Credit

Revolving Line of Credit

Secured term loan facility

Secured term loan facility

Secured term loan facility

Secured term loan facility

Secured term loan facility

Letters of credit related to the workers' compensation insurances policies

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Interest rate swap

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Wells Fargo Bank

Minimum

Maximum

Cash flow

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

$45,000,000

'

'

$35,000,000

'

'

'

'

'

'

$10,000,000

'

Term of credit agreement

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

Unused credit capacity under the agreement

'

'

25,400,000

'

'

'

'

'

'

'

'

'

'

Interest rate (as a percent)

'

'

2.53%

'

'

'

'

'

'

'

'

'

'

Amount designed to maintain cash balances under cash management system and revolving credit facility

'

'

'

0

'

'

'

'

'

'

'

'

'

Checks outstanding in excess of bank balances

2,300,000

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding amount

'

'

'

3,600,000

'

'

'

'

'

'

'

'

'

Quarterly commitment fee (as a percent)

'

'

'

'

'

0.20%

0.50%

'

'

'

'

'

'

Principal amount of debt

'

'

'

'

'

'

'

'

'

'

10,000,000

'

'

Principal amount payable in quarterly installments

'

'

'

'

'

'

'

'

166,667

'

'

'

'

Outstanding amount

'

'

'

'

'

'

'

'

'

9,800,000

'

'

'

Notional amount

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

Fixed interest rate (as a percent)

'

'

'

'

'

'

'

3.10%

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

$3,700,000

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	9 Months Ended
	Sep. 28, 2013
Restricted stock	'
Number of Shares	'
Granted (in shares)	139,581
Vested (in shares)	-22,836
Unvested at the end of the period (in shares)	116,745
Weighted-Average Grant Date Fair Value	'
Granted (in dollars per share)	$4.17
Vested (in dollars per share)	$4.01
Unvested at the end of the period (in dollars per share)	$4.19
Total fair value of the shares vested	$93,515
Stock options	'
Number of Shares	'
Outstanding at the beginning of the period (in shares)	1,007,798
Exercised (in shares)	-111,995
Expired (in shares)	-272,462
Forfeited (in shares)	-84,015
Outstanding at the end of the period (in shares)	539,326
Weighted-Average Exercise Price	'
Outstanding at the beginning of the period (in dollars per share)	$3.74
Exercised (in dollars per share)	$1.89
Expired (in dollars per share)	$6.29
Forfeited (in dollars per share)	$4.29
Outstanding at the end of the period (in dollars per share)	$2.78
Stock-based compensation, additional disclosure	'
Intrinsic value of outstanding exercisable options	1,595,848
Weighted-average remaining contractual life of options exercisable	'2 years 8 months 12 days
Total unrecognized compensation expense	$489,133
Recognition of unrecognized compensation expense over weighted average contractual life	'2 years 6 months

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 28, 2013	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012
Income Tax Valuation Allowance	'	'	'	'
Income tax expense (benefit)	$573,030	$129,183	$2,114,865	($195,134)
Effective tax rate (as a percent)	27.20%	'	30.80%	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended	9 Months Ended		1 Months Ended	9 Months Ended	0 Months Ended		1 Months Ended	9 Months Ended
	Sep. 29, 2012	Sep. 28, 2013	Sep. 29, 2012	Oct. 31, 2011	Sep. 28, 2013	Jun. 14, 2013	Feb. 28, 2013	Feb. 29, 2012	Sep. 28, 2013
				Paul Gendrolis and Katherine Gendrolis v. Saxon Fleet Sales, Kolstad Company, and Supreme Industries, Inc.	Paul Gendrolis and Katherine Gendrolis v. Saxon Fleet Sales, Kolstad Company, and Supreme Industries, Inc.	King County v. Supreme Corporation	King County v. Supreme Corporation	King County v. Supreme Corporation	King County v. Supreme Corporation
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Commitments and contingencies	'	'	'	'	'	'	'	'	'
Damages sought	'	'	'	$10,000,000	'	'	$10,600,000	'	'
Settlement consideration	'	'	'	'	100,000	4,700,000	'	'	'
Number of buses in fleet to be returned	'	'	'	'	'	'	'	35	'
Period for payment of settlement consideration	'	'	'	'	'	'90 days	'	'	'
Third-party contributions to settlement funds	'	'	'	'	'	520,000	'	'	'
Estimated amount assigned to returned product	'	'	'	'	'	1,100,000	'	'	'
Pre-tax charge of legal settlement and related costs	$328,415	$3,600,161	$455,415	'	'	'	'	'	$3,600,000