Rocky Brands (RCKY) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2019shares
Document and Entity Information [Abstract]
Entity Registrant Name	Rocky Brands, Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	7,396,769
Amendment Flag	false
Entity Central Index Key	0000895456
Entity Filer Category	Accelerated Filer
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 15,715	$ 10,173	$ 8,328
Trade receivables, net	40,910	43,337	42,616
Contract receivables	1,959	2,602	8,634
Other receivables	152	331	214
Inventories	77,458	72,822	72,644
Income tax receivable	1,361	30	222
Prepaid expenses	2,819	1,890	2,185
Total current assets	140,374	131,185	134,843
LEASED ASSETS	1,282
PROPERTY, PLANT & EQUIPMENT – net	24,041	23,057	23,655
IDENTIFIED INTANGIBLES	30,256	30,273	30,293
OTHER ASSETS	279	148	173
TOTAL ASSETS	196,232	184,663	188,964
CURRENT LIABILITIES:
Accounts payable	20,182	13,543	17,642
Contract with Customer, Liability, Current	1,959	2,602	8,634
Accrued expenses:
Salaries and wages	2,100	3,339	2,516
Taxes - other	667	556	349
Accrued freight	476	668	531
Commissions	491	560	420
Accrued duty	2,603	2,334	2,338
Other	1,767	1,416	1,125
Total current liabilities	30,245	25,018	33,555
LONG TERM TAXES PAYABLE	169	169	1,777
LONG TERM LEASE	776
DEFERRED INCOME TAXES	7,780	7,780	7,726
DEFERRED LIABILITIES	221	121	153
TOTAL LIABILITIES	39,191	33,088	43,211
SHAREHOLDERS' EQUITY:
25,000,000 shares authorized; issued and outstanding December 31, 2017 - 7,398,654 and December 31, 2016 - 7,421,455	69,013	68,387	69,437
Retained earnings	88,028	83,188	76,316
Total shareholders' equity	157,041	151,575	145,753
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 196,232	$ 184,663	$ 188,964

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Consolidated Balance Sheets [Abstract]
Common Stock, Shares, Issued	7,406,801	7,398,654	7,435,467
Common stock Authorized	25,000,000		25,000,000
Common stock Par Value	$ 0		$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Consolidated Statements of Operations [Abstract]
NET SALES	$ 61,959	$ 58,206	$ 127,888	$ 119,593
COST OF GOODS SOLD	40,518	38,674	83,469	79,095
GROSS MARGIN	21,441	19,532	44,419	40,498
OPERATING EXPENSES
OPERATING EXPENSES	17,498	16,159	35,976	32,897
INCOME (LOSS) FROM OPERATIONS	3,943	3,373	8,443	7,601
OTHER INCOME (EXPENSES)	52	(40)	117	(179)
INCOME (LOSS) BEFORE INCOME TAXES	3,995	3,333	8,560	7,422
INCOME TAX (BENEFIT) EXPENSE	839	684	1,798	1,522
Net Income (Loss) Attributable to Parent, Total	$ 3,156	$ 2,649	$ 6,762	$ 5,900
INCOME (LOSS) PER SHARE
Basic (in Dollars per share)	$ 0.43	$ 0.36	$ 0.92	$ 0.80
Diluted (in Dollars per share)	$ 0.42	$ 0.35	$ 0.91	$ 0.79
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in Shares)	7,388	7,410	7,388	7,408
Diluted (in Shares)	7,431	7,464	7,436	7,445

Consolidated Statement of Share

Consolidated Statement of Shareholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock and Additional Paid in Capital [Member]	Retained Earnings [Member]	Total
BALANCE - December 31, 20 at Dec. 31, 2017	$ 68,974	$ 72,119	$ 141,093
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2017	7,399
Net income (Loss)		3,251	3,251
Dividends paid on common stock		(815)	(815)
Stock compensation expense	$ 299		299
Stock compensation expense (in Shares)	8
BALANCE - December 31, 20 at Mar. 31, 2018	$ 69,273	74,555	143,828
BALANCE - December 31, 20 (in Shares) at Mar. 31, 2018	7,407
BALANCE - December 31, 20 at Dec. 31, 2017	$ 68,974	72,119	141,093
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2017	7,399
Net income (Loss)			5,900
BALANCE - December 31, 20 at Jun. 30, 2018	$ 69,437	76,316	145,753
BALANCE - December 31, 20 (in Shares) at Jun. 30, 2018	7,415
BALANCE - December 31, 20 at Mar. 31, 2018	$ 69,273	74,555	143,828
BALANCE - December 31, 20 (in Shares) at Mar. 31, 2018	7,407
Net income (Loss)		2,649	2,649
Dividends paid on common stock		(888)	(888)
Stock compensation expense	$ 164		164
Stock compensation expense (in Shares)	8
BALANCE - December 31, 20 at Jun. 30, 2018	$ 69,437	76,316	145,753
BALANCE - December 31, 20 (in Shares) at Jun. 30, 2018	7,415
BALANCE - December 31, 20 at Dec. 31, 2018	$ 68,387	83,188	151,575
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2018	7,368
Net income (Loss)		3,605	3,605
Dividends paid on common stock		(886)	(886)
Stock issued and options exercised including related tax benefits	$ 294		294
Stock issued and options exercised including related tax benefits (in Shares)	17
Stock compensation expense	$ 168		168
Stock compensation expense (in Shares)	6
BALANCE - December 31, 20 at Mar. 31, 2019	$ 68,849	85,907	154,756
BALANCE - December 31, 20 (in Shares) at Mar. 31, 2019	7,391
BALANCE - December 31, 20 at Dec. 31, 2018	$ 68,387	83,188	151,575
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2018	7,368
Net income (Loss)			6,762
BALANCE - December 31, 20 at Jun. 30, 2019	$ 69,013	88,028	157,041
BALANCE - December 31, 20 (in Shares) at Jun. 30, 2019	7,394
BALANCE - December 31, 20 at Mar. 31, 2019	$ 68,849	85,907	154,756
BALANCE - December 31, 20 (in Shares) at Mar. 31, 2019	7,391
Net income (Loss)		3,156	3,156
Dividends paid on common stock		(1,035)	(1,035)
Stock compensation expense	$ 164		164
Stock compensation expense (in Shares)	3
BALANCE - December 31, 20 at Jun. 30, 2019	$ 69,013	$ 88,028	$ 157,041
BALANCE - December 31, 20 (in Shares) at Jun. 30, 2019	7,394

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (Loss)	$ 6,762	$ 5,900
Adjustments to reconcile net income (Loss) to net cash provided by operating activities:
Depreciation and amortization	2,545	2,729
Stock compensation expense	332	394
Change in assets and liabilities:
Receivables	1,276	4,631
Inventories	(4,636)	(7,022)
Other current assets	(2,737)	15
Other assets	(113)	25
Accounts payable	6,581	4,672
Accrued and other liabilities	538	242
Net cash provided by operating activities	10,629	11,071
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(3,459)	(2,604)
Proceeds from sales of fixed assets		14
Net cash used in investing activities	(3,459)	(2,590)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility		157
Repayments on revolving credit facility		(2,356)
Proceeds from stock options	294	69
Dividends paid on common stock	(1,922)	(1,704)
Net cash used in financing activities	(1,628)	(3,834)
(DECREASE) INCREASE IN CASH AND CASH	5,542	4,647
CASH AND CASH EQUIVALENTS:
BEGINNING OF PERIOD	10,173	3,681
END OF PERIOD	$ 15,715	$ 8,328

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Business Activity	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION  We are a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango and Lehigh. Our brands have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around six target markets: outdoor, work, duty, commercial military, western and lifestyle . In addition, as part of our strategy of outfitting consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the strength and positioning of each of our brands. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments that are necessary for a fair presentation of the financial results. All such adjustments reflected in the unaudited condensed consolidated financial statements are considered to be of a normal and recurring nature. The results of operations for the three and six months ended June 30, 2019 and 2018 are not necessarily indicative of the results to be expected for the whole year. The December 31, 2018 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). This Quarterly Report on Form 10-Q should be read in connection with our Annual Report on Form 10-K for the year ended December 31, 2018 , which includes all disclosures required by GAAP.

ACCOUNTING STANDARDS UPDATES

ACCOUNTING STANDARDS UPDATES	6 Months Ended
	Jun. 30, 2019
ACCOUNTING STANDARDS UPDATES [Abstract]
ACCOUNTING STANDARDS UPDATES	2 . ACCOUNTING STANDARDS UPDATES  Recently Issued Accounting Pronouncements  Rocky Brands, Inc. is currently evaluating the impact of certain Accounting Standards Updates (“ASU”) on its Unaudited Condensed Consolidated Financial Statements or Notes to the Unaudited Condensed Consolidated Financial Statements:    Standard Description Anticipated Adoption Period Effect on the financial statements or other significant matters  ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement This pronouncement changes the fair value measurement disclosure requirements of ASC 820. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. Q1 2020 The Company is evaluating the impact of the new standard on its Unaudited Condensed Consolidated Financial Statements, but does not anticipate the standard will have a significant impact.  ASU 2016-13, Measurement of Credit Losses on Financial Instruments The pronouncement seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date by replacing the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Q1 2020 The Company is evaluating the impacts of the new standard on its existing financial instruments, including trade receivables.  Accounting Standards Adopted in the Current Year    Standard Description Effect on the financial statements or other significant matters  ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting The pronouncement simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The Company adopted this ASU in the first quarter of 2019, which did not have a material effect on the Unaudited Condensed Consolidated Financial Statements.  ASU 2016-02, Leases (Topic 842) The pronouncement introduces a lessee model that brings most leases on the balance sheet. The standard requires that lessees recognize the following for all leases (with the exception of short-term leases, as that term is defined in the standard) at the lease commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. This standard was adopted on its effective date, January 1, 2019 using the modified retrospective approach. For additional information see Note 9.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	3. FAIR VALUE  Generally accepted accounting standards establish a framework for measuring fair value. The fair value accounting standard defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. This standard clarifies how to measure fair value as permitted under other accounting pronouncements. The fair value accounting standard defines 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 at the measurement date. This standard also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:  · Level 1 – Quoted prices in active markets for identical assets or liabilities.  · Level 2 – Observable inputs other than quoted market prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.  · Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The fair values of cash and cash equivalents, receivables, and payables approximated their carrying values because of the short-term nature of these instruments. Receivables consist primarily of amounts due from our customers, net of allowances, amounts due from employees (sales persons’ advances in excess of commissions earned and employee travel advances); other customer receivables, net of allowances; and expected insurance recoveries. The carrying amounts of our long-term credit facility and other short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace during the year. The fair value of our revolving line of credit is categorized as Level 2. 

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
REVENUE [Abstract]
Revenue from Contract with Customer [Text Block]	4. REVENUE  On January 1, 2018, we adopted the new accounting standard ASC 606, Revenue from Contracts with Customers and all the related amendments (“New Revenue Standard”) for all contracts not yet completed as of January 1, 2018 using the modified retrospective method. This method requires a cumulative effect adjustment to reflect the impact of initially applying the New Revenue Standard as an adjustment to the opening balance of retained earnings. The New Revenue Standard did not result in a material impact to the opening balance of retained earnings, and therefore no adjustment was made.  Nature of Performance Obligations  Our products are distributed through three distinct channels, which represent our business segments: Wholesale, Retail, and Military. In our Wholesale business, we distribute our products through a wide range of distribution channels representing over ten thousand retail store locations in the U.S., Canada, and internationally. Our Wholesale channels vary by product line and include sporting goods stores, outdoor specialty stores, online retailers, independent retailers, mass merchants, retail uniform stores, and specialty safety shoe stores. Our Retail business includes direct sales of our products to consumers through our e-commerce websites, our Rocky outlet store, and Lehigh business. We also sell footwear under the Rocky label to the U.S. Military.  Significant Accounting Policies and Judgements  Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; this generally occurs upon shipment of our product to our customer, which is when the transfer of control of our products passes to the customer. The duration of our arrangements with our customers are typically one year or less. Revenue is measured as the amount of consideration we expect to receive in exchange for the transfer of our products at a point in time and consists of either fixed or variable consideration or a combination of both.  Revenues from sales are recorded at the net sales price, which includes estimates of variable consideration for which reserves are established. Components of variable consideration include prompt payment discounts, volume rebates, and product returns. These reserves, as detailed below, are based on the amounts earned, or to be claimed on the related sales, and are classified as reductions of accounts receivable (if the amount is payable to the customer) or a current liability (if the amount is payable to a party other than a customer).  The amount of variable consideration which is included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. Our analyses also contemplated application of the constraint in accordance with the guidance, under which it determined a material reversal of revenue would not occur in a future period for the estimates detailed below as of June 30, 2019 . Actual amounts of consideration ultimately received may differ from our estimates. If actual results in the future vary from our estimates, we will adjust these estimates, which would affect net revenue and earnings in the period such variances become known.  When a customer has a right to a prompt payment discount, we estimate the likelihood that the customer will earn the discount using historical data and adjust our estimate when the estimate of the likelihood that a customer will earn the discount changes or the consideration becomes fixed, whichever occurs earlier. The estimated amount of variable consideration is recognized as a credit to trade receivables and a reduction in revenue until the uncertainty of the variable consideration is alleviated. Because most of our customers have payment terms less than six months there is not a significant financing component in our contracts with customers.  When a customer is offered a rebate on purchases retroactively this is accounted for as variable consideration because the consideration for the current and past purchases is not fixed until it is known if the discount is earned. We estimate the expected discount the customer will earn at contract inception using historical data and projections and update our estimates when projections materially change or consideration becomes fixed. The estimated rebate is recognized as a credit to trade receivables and offset against revenue until the rebate is earned or the earning period has lapsed.  When a right of return is part of the arrangement with the customer, we estimate the expected returns based on an analysis using historical data. We adjust our estimate either when the most likely amount of consideration we expect to receive changes or when the consideration becomes fixed, whichever occurs earlier. Please see Notes 5 and 6 for additional information.  Trade receivables represent our right to unconditional payment that only relies on the passage of time.  Contract receivables represent contractual minimum payments required under non-cancellable contracts with the U.S. Military with a duration of one year or less.  Contract liabilities are performance obligations that we expect to satisfy or relieve within the next twelve months, advance consideration obtained prior to satisfying a performance obligation, or unconditional obligations to provide goods or services under non-cancellable contracts before the transfer of goods or services to the customer has occurred. Our contract liability represents unconditional obligations to provide goods under non-cancellable contracts with the U.S. Military.  Items considered immaterial within the context of the contract are recognized as an expense.  Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue producing transaction, that are collected from customers, are excluded from revenue.  Costs associated with our manufacturer’s warranty continue to be recognized as expense when the products are sold in accordance with guidance surrounding product warranties.  Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are in included in operating expenses.  Costs associated with obtaining a contract are expensed as incurred in accordance with the practical expedient in ASC 340-40 in instances where the amortization period is one year or less. We anticipate substantially all of our costs incurred to obtain a contract would be subject to this practical expedient.  Contract Balances  The following table provides information about contract liabilities from contracts with our customers.     June 30, December 31, June 30,  ($ in thousands) 2019 2018 2018  Contract liabilities $ 1,959 $ 2,602 $ 8,634  Significant changes in the contract liabilities balance during the period are as follows:     ($ in thousands) Contract liabilities  Balance, December 31, 2018 $ 2,602  Non-cancelable contracts with customers entered into during the period 2,457  Revenue recognized related to non-cancelable contracts with customers during the period (3,100)  Balance, June 30, 2019 $ 1,959  Disaggregation of Revenue  All revenues are recognized at a point in time when control of our products pass to the customer at point of shipment. Because all revenues are recognized at a point in time and are disaggregated by channel, our segment disclosures are consistent with ASC 606 disaggregation requirements. See Note 13 for segment disclosures.

TRADE RECEIVABLES

TRADE RECEIVABLES	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
TRADE RECEIVABLES	5 . TRADE RECEIVABLES Trade receivables are presented net of the related allowance for uncollectible accounts of approximatel y $1,266,000 , $1,268,000, and $430,000 at June 30, 2019 , December 31, 2018 and June 30, 2018 , respectively. We record the allowance based on historical experience, the age of the receivables, and identification of customer accounts that are likely to prove difficult to collect due to various criteria including pending bankruptcy. However, estimates of the allowance in any future period are inherently uncertain and actual allowances may differ from these estimates. If actual or expected future allowances were significantly greater or less than established reserves, a reduction or increase to bad debt expense would be recorded in the period this determination was made. Our credit policy generally provides that trade receivables will be deemed uncollectible and written-off once we have pursued all reasonable efforts to collect on the account.  In accordance with ASC 606, the return reserve liability netted against trade receivables was $842,000 , $ 1,154,000 and $775,000 for the periods ending June 30, 2019, December 31, 2018 , and June 30, 2018 , respectively .

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2019
INVENTORIES [Abstract]
INVENTORIES	6. INVENTORY  Inventories are comprised of the following:      June 30, December 31, June 30,  ($ in thousands) 2019 2018 2018  Raw materials $ 12,947 $ 12,986 $ 15,185  Work-in-process 1,048 715 939  Finished goods 63,463 59,121 56,520  Total $ 77,458 $ 72,822 $ 72,644 In accordance with ASC 606, the return reserve asset netted against inventories was $508,000 , $ 694,000 and $473,000 for the periods ending June 30, 2019, December 31, 2018 , and June 30, 2018 , respectively.

IDENTIFIED INTANGIBLE ASSETS

IDENTIFIED INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2019
IDENTIFIED INTANGIBLE ASSETS [Abstract]
IDENTIFIED INTANGIBLE ASSETS	7. IDENTIFIED INTANGIBLE ASSETS  A schedule of identified intangible assets is as follows:     Gross Accumulated Carrying  ($ in thousands) Amount Amortization Amount  June 30, 2019  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 731 164  Total Intangibles $ 30,987 $ 731 $ 30,256   Gross Accumulated Carrying  December 31, 2018 Amount Amortization Amount  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 714 181  Total Intangibles $ 30,987 $ 714 $ 30,273   Gross Accumulated Carrying  June 30, 2018 Amount Amortization Amount  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 694 201  Total Intangibles $ 30,987 $ 694 $ 30,293  The weighted average life for our patents is 3.9 years.  A schedule of approximate amortization expense related to finite-lived intangible assets for the three and six months ended June 30, 2019 and 2018 is as follows:     Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2018 2019 2018  Amortization expense $ 9 $ 11 17 $ 22   A schedule of approximate expected amortization expense related to finite-lived intangible assets for the years ending December 31, is as follows:     Amortization  ($ in thousands) Expense  7/1 - 12/31/19 16  2020 31  2021 26  2022 22  2023 20  2024 17  2025+ 33 

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2019
LONG-TERM DEBT [Abstract]
LONG-TERM DEBT	8. LONG-TERM DEBT  On February 13, 2019, we entered into a Revolving Credit, Guaranty, and Security Agreement (“Credit Agreement”) with the Huntington National Bank (“Huntington”) as administrative agent. The Credit Agreement provides for a new senior secured asset-based revolving credit facility up to a principal amount of $75 million, which includes a sublimit for the issuance of letters of credit up to $7.5 million (the “Credit Facility”). The Credit Facility may be increased up to an additional $25 million at our request and the lenders’ option, subject to customary conditions. The Credit Agreement matures on February 13, 2024. This new Credit Agreement replaced our previous financing agreement with PNC Bank (“PNC”).     Revolver Pricing Level Average Excess Revolver Availability for Previous Quarter Applicable Spread Rates for Eurodollar Rate Revolving Advances Applicable Spread Rates for Domestic Rate Revolving Advances  I $ 25,000,000+ 1.00 % (0.50) %  II $ 17,500,000 to < 25,000,000 1.25 % (0.50) %  III $ 10,000,000 to < 17,500,000 1.50 % (0.25) %  IV $ < 10,000,000 1.75 % 0.00 %  The total amount available under our new Credit Facility is subject to a borrowing base calculation based on various percentages of accounts receivable and inventory. As of June 30, 2019 , we had total capacity of $62.7 million.  In December 2014, we amended and restated our financing agreement with PNC to increase the credit facility to $ 75.0 million and extend the term of the facility an additional five years to November 2019. The credit facility’s base interest rate was the current prime rate less 0.25% , however the credit facility provided us the option to borrow on up to eight fixed loans at LIBOR plus 1.25% in accordance with the 2014 amended and restated credit agreement. The LIBOR rate was determined based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days.  As of June 30, 2019 , we had no outstanding borrowings against the new Credit Facility and as of December 31, 2018 and June 30, 2018 , respectively, we had no outstanding borrowings against our previously amended and restated credit facility.  Credit Facility Covenants  Both our new Credit Facility and our previously amended and restated credit facility contain restrictive covenants which require us to maintain a fixed charge coverage ratio. These restrictive covenants are only in effect upon a triggering event taking place (as defined in both agreements). Both our new Credit Facility and the previously amended and restated credit facility contain restrictions on the amount of dividends that may be paid. During the six months ended June 30, 2019 , there were no triggering events and the covenant was not in effect for the new Credit Facility.

OPERATING LEASES

OPERATING LEASES	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	9. LEASES  In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”), which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. ASU 2016-02 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements (please see additional detail regarding these updates to Topic 842 below). The new standard establishes a right-of-use model (ROU) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the Unaudited Condensed Consolidated Statements of Operations.  The new standard was effective for us on January 1, 2019, with early adoption permitted. We adopted the new standard on its effective date. A modified retrospective transition approach is required, applying the new standard to all leases existing at the date of initial application. An entity may choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. We adopted the new standard on January 1, 2019 and used the effective date as our date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019.  The new standard provides several optional practical expedients in transition. We elected the ‘package of practical expedients’, which permits us not to reassess, under the new standard, our prior conclusions about lease identification, lease classification and initial direct costs. We did not elect the use-of-hindsight with respect to determining the lease term (i.e., considering the actual outcome and updated expectations of lease renewals, termination option and purchase options). We also did not elect the use of the practical expedient pertaining to land easements because we do not have any such easements.  The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. We also elected the practical expedient to not separate lease and non-lease components for our leases.  This standard had a material effect on our Unaudited Condensed Consolidated Balance Sheets, specifically, the most significant effects relate to (1) the recognition of new ROU assets and lease liabilities on our balance sheet for our factories in the Dominican Republic and Puerto Rico and various equipment leases, all currently accounted for as operating leases; and (2) providing significant new disclosures about our leasing activities. Adoption of the standard did not have a material impact on our Unaudited Condensed Consolidated Statements of Cash Flows. We do not expect a significant change in our leasing activities as a result of this standard. Many of our leases contain renewal options, most of which are not included in the measurement of the right-of-use asset as they are not considered reasonably certain of exercise (i.e. we do not currently have a significant economic incentive to exercise these options).  The operating ROU asset and operating lease liabilities as of June 30, 2019 and upon adoption of ASC 842 are as follows:     (Upon ASC 842 Adoption)  June 30, January 1,  ($ in thousands) 2019 2019 Financial Statement Line Item  Assets:  Operating ROU Assets $ 1,282 $ 1,136 Leased assets   Liabilities:  Current  Operating $ 527 $ 626 Other current liabilities  Noncurrent  Operating 776 544 Long-term lease liabilities  Total leased liabilities $ 1,303 $ 1,170  Maturity of our operating lease liabilities are as follows:     Operating  ($ in thousands) Leases  07/01/2019 through 12/31/2019 $ 366  2020 418  2021 298  2022 169  2023 130  2024 26  Total lease payments 1,407  Less: Interest 104  Present value of lease liabilities $ 1,303   For the six months ended June 30, 2019 the weighted average remaining lease term and discount rate were as follows:     June 30,  2019  Weighted-average remaining lease term (years)  Operating leases 2.0   Weighted-average discount rate  Operating leases 5.1 %  For the six months ended June 30, 2019 the supplemental cash flow information is as follows:     June 30,  ($ in thousands) 2019  Cash paid for amounts included in the measurement of lease liabilities  Operating cash flows from operating leases $ 201   Right-of-use assets obtained in exchange for lease obligations  Operating leases $ 526  The breakdown of rent expense for our operating leases for the three and six months ended June 30, 2019 and 2018 , respectively are as follows:     Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2019 Financial Statement Line Item  Operating lease expenses - Manufacturing & Sourcing (1) $ 163 $ 324 Cost of goods sold  Operating lease expenses (1) 85 149 Operating expenses  Total lease expenses $ 248 $ 473  (1) I ncludes short-term lease expenses of approximately $24,000 and $50,000 for the three and six months ended June 30, 2019, respectively .

TAXES

TAXES	6 Months Ended
	Jun. 30, 2019
TAXES [Abstract]
TAXES	10. TAXES  We are subject to tax examinations in various taxing jurisdictions. The earliest exam years open for examination are as follows:     Earliest Exam Year  Taxing Authority Jurisdiction:  U.S. Federal 2015  Various U.S. States 2014  Puerto Rico (U.S. Territory) 2013  Canada 2013  Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense. No such expenses were recognized during the three and six months ended June 30, 2019 . We do not believe there will be any material changes in our uncertain tax positions over the next 12 months.  Accounting for uncertainty in income taxes requires financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise’s financial statements. Under this guidance, income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized upon the adoption of the standard. We did not have any unrecognized tax benefits and there was no effect on its financial condition or results of operations.  Our estimated effective tax rate was 21.0% for the three and six months ended June 30, 2019 and 20.5% for the three and six months ended June 30, 2018 .

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
EARNINGS PER SHARE [Abstract}
EARNINGS PER SHARE	11. EARNINGS PER SHARE  Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.  A reconciliation of the shares used in the basic and diluted income per common share computation for the three and six months ended June 30, 2019 and 2018 is as follows:     Three Months Ended Six Months Ended  June 30, June 30,  (shares in thousands) 2019 2018 2019 2018   Basic - weighted average shares outstanding 7,388 7,410 7,388 7,408  Dilutive restricted share units 2 1 3 1  Dilutive stock options 41 53 45 36  Diluted - weighted average shares outstanding 7,431 7,464 7,436 7,445  Anti-dilutive securities 81 - 75 42

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2019
SEGMENT INFORMATION [Abstract]
SEGMENT INFORMATION	13. SEGMENT INFORMATION  We have identified three reportable segments: Wholesale, Retail and Military. Wholesale includes sales of footwear and accessories to several classifications of retailers, including sporting goods stores, outdoor specialty stores, online retailers, independent retailers, mass merchants, retail uniform stores, and specialty safety shoe stores. Our Retail business includes direct sales of our products to consumers through our e-commerce websites, our Rocky outlet store, and Lehigh business. Military includes sales to the U.S. Military. The following is a summary of segment results for the Wholesale, Retail, and Military segments for the three and six months ended June 30, 2019 and 2018 .          Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2018 2019 2018  NET SALES:  Wholesale $ 40,629 $ 39,804 $ 83,018 $ 80,235  Retail 14,105 11,739 29,544 24,797  Military 7,225 6,663 15,326 14,561  Total Net Sales $ 61,959 $ 58,206 $ 127,888 $ 119,593   GROSS MARGIN:  Wholesale $ 13,403 $ 13,030 $ 27,778 $ 27,044  Retail 6,102 5,267 12,778 10,801  Military 1,936 1,235 3,863 2,653  Total Gross Margin $ 21,441 $ 19,532 $ 44,419 $ 40,498  

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2019
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	12. SUPPLEMENTAL CASH FLOW INFORMATION  Supplemental cash flow information for the six months ended June 30, 2019 and 2018 is as follows:     ($ in thousands) 2019 2018   Interest paid $ 82 $ 93   Federal, state, and local income taxes paid (refund), net $ 5,326 $ (234)   Change in contract receivables, net $ (1,959) $ (8,634)   Change in contract liabilities, net $ 1,959 $ 8,634   Property, plant, and equipment purchases in accounts payable $ 741 $ 170 

ACCOUNTING STANDARDS UPDATES (P

ACCOUNTING STANDARDS UPDATES (Policies)	6 Months Ended
	Jun. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Business Activity	1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION  We are a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango and Lehigh. Our brands have a long history of representing high quality, comfortable, functional and durable footwear and our products are organized around six target markets: outdoor, work, duty, commercial military, western and lifestyle . In addition, as part of our strategy of outfitting consumers from head-to-toe, we market complementary branded apparel and accessories that we believe leverage the strength and positioning of each of our brands. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments that are necessary for a fair presentation of the financial results. All such adjustments reflected in the unaudited condensed consolidated financial statements are considered to be of a normal and recurring nature. The results of operations for the three and six months ended June 30, 2019 and 2018 are not necessarily indicative of the results to be expected for the whole year. The December 31, 2018 condensed consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). This Quarterly Report on Form 10-Q should be read in connection with our Annual Report on Form 10-K for the year ended December 31, 2018 , which includes all disclosures required by GAAP.
Trade Receivables	Trade receivables are presented net of the related allowance for uncollectible accounts of approximatel y $1,266,000 , $1,268,000, and $430,000 at June 30, 2019 , December 31, 2018 and June 30, 2018 , respectively. We record the allowance based on historical experience, the age of the receivables, and identification of customer accounts that are likely to prove difficult to collect due to various criteria including pending bankruptcy. However, estimates of the allowance in any future period are inherently uncertain and actual allowances may differ from these estimates. If actual or expected future allowances were significantly greater or less than established reserves, a reduction or increase to bad debt expense would be recorded in the period this determination was made. Our credit policy generally provides that trade receivables will be deemed uncollectible and written-off once we have pursued all reasonable efforts to collect on the account.
Income Tax, Policy [Policy Text Block]	Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense.
Earnings Per Share, Policy [Policy Text Block]	Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.

ACCOUNTING STANDARDS UPDATES (T

ACCOUNTING STANDARDS UPDATES (Tables)	6 Months Ended
	Jun. 30, 2019
ACCOUNTING STANDARDS UPDATES [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	  Standard Description Anticipated Adoption Period Effect on the financial statements or other significant matters  ASU 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement This pronouncement changes the fair value measurement disclosure requirements of ASC 820. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. Q1 2020 The Company is evaluating the impact of the new standard on its Unaudited Condensed Consolidated Financial Statements, but does not anticipate the standard will have a significant impact.  ASU 2016-13, Measurement of Credit Losses on Financial Instruments The pronouncement seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date by replacing the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Q1 2020 The Company is evaluating the impacts of the new standard on its existing financial instruments, including trade receivables. 
Schedule of Prospective Adoption of New Accounting Pronouncements [Table Text Block]	  Standard Description Effect on the financial statements or other significant matters  ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-based Payment Accounting The pronouncement simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. The Company adopted this ASU in the first quarter of 2019, which did not have a material effect on the Unaudited Condensed Consolidated Financial Statements.  ASU 2016-02, Leases (Topic 842) The pronouncement introduces a lessee model that brings most leases on the balance sheet. The standard requires that lessees recognize the following for all leases (with the exception of short-term leases, as that term is defined in the standard) at the lease commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. This standard was adopted on its effective date, January 1, 2019 using the modified retrospective approach. For additional information see Note 9. 

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2019
REVENUE [Abstract]
Summary of Contract Liabilities	  June 30, December 31, June 30,  ($ in thousands) 2019 2018 2018  Contract liabilities $ 1,959 $ 2,602 $ 8,634 
Significant Changes in Contract Liabilities	  ($ in thousands) Contract liabilities  Balance, December 31, 2018 $ 2,602  Non-cancelable contracts with customers entered into during the period 2,457  Revenue recognized related to non-cancelable contracts with customers during the period (3,100)  Balance, June 30, 2019 $ 1,959 

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2019
INVENTORIES [Abstract]
Schedule of Inventory	Inventories are comprised of the following:      June 30, December 31, June 30,  ($ in thousands) 2019 2018 2018  Raw materials $ 12,947 $ 12,986 $ 15,185  Work-in-process 1,048 715 939  Finished goods 63,463 59,121 56,520  Total $ 77,458 $ 72,822 $ 72,644 

IDENTIFIED INTANGIBLE ASSETS (T

IDENTIFIED INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2019
IDENTIFIED INTANGIBLE ASSETS [Abstract]
Schedule of Identified Intangible Assets	A schedule of identified intangible assets is as follows:     Gross Accumulated Carrying  ($ in thousands) Amount Amortization Amount  June 30, 2019  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 731 164  Total Intangibles $ 30,987 $ 731 $ 30,256   Gross Accumulated Carrying  December 31, 2018 Amount Amortization Amount  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 714 181  Total Intangibles $ 30,987 $ 714 $ 30,273   Gross Accumulated Carrying  June 30, 2018 Amount Amortization Amount  Trademarks  Wholesale $ 27,192 - $ 27,192  Retail 2,900 - 2,900  Patents 895 $ 694 201  Total Intangibles $ 30,987 $ 694 $ 30,293 
Schedule of Amortization Expense	A schedule of approximate amortization expense related to finite-lived intangible assets for the three and six months ended June 30, 2019 and 2018 is as follows:     Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2018 2019 2018  Amortization expense $ 9 $ 11 17 $ 22 
Schedule of Future Amortization Expense	A schedule of approximate expected amortization expense related to finite-lived intangible assets for the years ending December 31, is as follows:     Amortization  ($ in thousands) Expense  7/1 - 12/31/19 16  2020 31  2021 26  2022 22  2023 20  2024 17  2025+ 33 

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Assets And Liabilities Lessee [Table Text Block]	  (Upon ASC 842 Adoption)  June 30, January 1,  ($ in thousands) 2019 2019 Financial Statement Line Item  Assets:  Operating ROU Assets $ 1,282 $ 1,136 Leased assets   Liabilities:  Current  Operating $ 527 $ 626 Other current liabilities  Noncurrent  Operating 776 544 Long-term lease liabilities  Total leased liabilities $ 1,303 $ 1,170 
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	  Operating  ($ in thousands) Leases  07/01/2019 through 12/31/2019 $ 366  2020 418  2021 298  2022 169  2023 130  2024 26  Total lease payments 1,407  Less: Interest 104  Present value of lease liabilities $ 1,303 
Lease, Cost, Supplemental [Table Text Block]	  June 30,  2019  Weighted-average remaining lease term (years)  Operating leases 2.0   Weighted-average discount rate  Operating leases 5.1 % 
Schedule of Cash Flow, Lease Supplemental Disclosures [Table Text Block]	  June 30,  ($ in thousands) 2019  Cash paid for amounts included in the measurement of lease liabilities  Operating cash flows from operating leases $ 201   Right-of-use assets obtained in exchange for lease obligations  Operating leases $ 526 
Lease, Cost [Table Text Block]	    Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2019 Financial Statement Line Item  Operating lease expenses - Manufacturing & Sourcing (1) $ 163 $ 324 Cost of goods sold  Operating lease expenses (1) 85 149 Operating expenses  Total lease expenses $ 248 $ 473  (1) I ncludes short-term lease expenses of approximately $24,000 and $50,000 for the three and six months ended June 30, 2019, respectively .

TAXES (Tables)

TAXES (Tables)	6 Months Ended
	Jun. 30, 2019
TAXES [Abstract]
Schedule of Income Tax Examinations	We are subject to tax examinations in various taxing jurisdictions. The earliest exam years open for examination are as follows:     Earliest Exam Year  Taxing Authority Jurisdiction:  U.S. Federal 2015  Various U.S. States 2014  Puerto Rico (U.S. Territory) 2013  Canada 2013 

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
EARNINGS PER SHARE [Abstract}
Reconciliation of Basic and Diluted Income Per Common Share	A reconciliation of the shares used in the basic and diluted income per common share computation for the three and six months ended June 30, 2019 and 2018 is as follows:     Three Months Ended Six Months Ended  June 30, June 30,  (shares in thousands) 2019 2018 2019 2018   Basic - weighted average shares outstanding 7,388 7,410 7,388 7,408  Dilutive restricted share units 2 1 3 1  Dilutive stock options 41 53 45 36  Diluted - weighted average shares outstanding 7,431 7,464 7,436 7,445  Anti-dilutive securities 81 - 75 42 

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
SEGMENT INFORMATION [Abstract]
Summary of Segment Results	  Three Months Ended Six Months Ended  June 30, June 30,  ($ in thousands) 2019 2018 2019 2018  NET SALES:  Wholesale $ 40,629 $ 39,804 $ 83,018 $ 80,235  Retail 14,105 11,739 29,544 24,797  Military 7,225 6,663 15,326 14,561  Total Net Sales $ 61,959 $ 58,206 $ 127,888 $ 119,593   GROSS MARGIN:  Wholesale $ 13,403 $ 13,030 $ 27,778 $ 27,044  Retail 6,102 5,267 12,778 10,801  Military 1,936 1,235 3,863 2,653  Total Gross Margin $ 21,441 $ 19,532 $ 44,419 $ 40,498 

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
Schedule of Supplemental Cash Flow	Supplemental cash flow information for the six months ended June 30, 2019 and 2018 is as follows:     ($ in thousands) 2019 2018   Interest paid $ 82 $ 93   Federal, state, and local income taxes paid (refund), net $ 5,326 $ (234)   Change in contract receivables, net $ (1,959) $ (8,634)   Change in contract liabilities, net $ 1,959 $ 8,634   Property, plant, and equipment purchases in accounts payable $ 741 $ 170 

REVENUE (Summary of Contract Li

REVENUE (Summary of Contract Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
REVENUE [Abstract]
Contract liabilities	$ 1,959	$ 2,602	$ 8,634

REVENUE (Significant Changes in

REVENUE (Significant Changes in Contract Liabilities) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
REVENUE [Abstract]
Balance	$ 2,602
Non-cancelable contracts with customers entered into during the period	2,457
Revenue recognized related to non-cancelable contracts with customers during the period	(3,100)
Balance	$ 1,959

TRADE RECEIVABLES (Narrative) (

TRADE RECEIVABLES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Accounts Receivable, Net, Current [Abstract]
Contract with Customer, Refund Liability, Current	$ 842	$ 1,154	$ 775

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
INVENTORIES [Abstract]
Return reserve	$ 508	$ 473	$ 694

INVENTORIES (Schedule of Invent

INVENTORIES (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
INVENTORIES [Abstract]
Raw materials	$ 12,947	$ 12,986	$ 15,185
Work-in-process	1,048	715	939
Finished goods	63,463	59,121	56,520
Total	$ 77,458	$ 72,822	$ 72,644

IDENTIFIED INTANGIBLE ASSETS (N

IDENTIFIED INTANGIBLE ASSETS (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019
IDENTIFIED INTANGIBLE ASSETS [Abstract]
Patent and Customer Relationships WA Useful Life	3 years 10 months 24 days

IDENTIFIED INTANGIBLE ASSETS (S

IDENTIFIED INTANGIBLE ASSETS (Schedule of Identified Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	$ 731	$ 714	$ 694
Gross Amount	30,987	30,987	30,987
Carrying Amount	30,256	30,273	30,293
Wholesale (Member)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amount	27,192	27,192	27,192
Retail (Member)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amount	2,900	2,900	2,900
Patents [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Gross Amount	895	895	895
Accumulated Amortization	731	714	694
Carrying Amount	$ 164	$ 181	$ 201

IDENTIFIED INTANGIBLE ASSETS _2

IDENTIFIED INTANGIBLE ASSETS (Schedule of Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
IDENTIFIED INTANGIBLE ASSETS [Abstract]
Amortization Expense	$ 9	$ 11	$ 17	$ 22

IDENTIFIED INTANGIBLE ASSETS _3

IDENTIFIED INTANGIBLE ASSETS (Schedule of Future Amortization Expense) (Details) $ in Thousands	Jun. 30, 2019USD ($)
IDENTIFIED INTANGIBLE ASSETS [Abstract]
2017	$ 16
2018	31
2019	26
2020	22
2021	20
2022	17
2023+	$ 33

LONG-TERM DEBT (Narrative) (Det

LONG-TERM DEBT (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 62,700,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 75,000,000
Prime Rate [Member]
Line of Credit Facility [Line Items]
Spread On Variable Rate Credit Facility	0.25%
LIBOR Rate [Member]
Line of Credit Facility [Line Items]
Spread On Variable Rate Credit Facility	1.25%

LONG-TERM DEBT (Summary of Cred

LONG-TERM DEBT (Summary of Credit Agreement) (Details)	3 Months Ended
	Jun. 30, 2019
Eurodollar [Member] | 25,000,000+ [Member]
Line of Credit Facility [Line Items]
Rate	1.00%
Eurodollar [Member] | 17,500,000 to 25,000,000 [Member]
Line of Credit Facility [Line Items]
Rate	1.25%
Eurodollar [Member] | 10,000,000 to 17,500,000 [Member]
Line of Credit Facility [Line Items]
Rate	1.50%
Eurodollar [Member] | 10,000,000 [Member]
Line of Credit Facility [Line Items]
Rate	1.75%
Domestic Rate [Member] | 25,000,000+ [Member]
Line of Credit Facility [Line Items]
Rate	(0.50%)
Domestic Rate [Member] | 17,500,000 to 25,000,000 [Member]
Line of Credit Facility [Line Items]
Rate	(0.50%)
Domestic Rate [Member] | 10,000,000 to 17,500,000 [Member]
Line of Credit Facility [Line Items]
Rate	(0.25%)
Domestic Rate [Member] | 10,000,000 [Member]
Line of Credit Facility [Line Items]
Rate	0.00%

OPERATING LEASES (Operating Lea

OPERATING LEASES (Operating Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating ROU Assets	$ 1,282
Operating Lease, Liability, Current	527
Operating Lease, Liability, Noncurrent	776
Operating Lease, Liability, Total	$ 1,303
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating ROU Assets		$ 1,136
Operating Lease, Liability, Current		626
Operating Lease, Liability, Noncurrent		544
Operating Lease, Liability, Total		$ 1,170

OPERATING LEASES (Maturity of L

OPERATING LEASES (Maturity of Lease Liability) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
04/01/2019 through 12/31/2019	$ 366
2020	418
2021	298
2022	169
2023	130
After 2023	26
Total lease payments	1,407
Less: Interest	104
Present value of lease liabilities	$ 1,303

OPERATING LEASES (Supplemental

OPERATING LEASES (Supplemental Lease Cost Information) (Details)	Jun. 30, 2019
Leases [Abstract]
Weighted-average remaining lease term (years)	2 years
Weighted-average discount rate	5.10%

OPERATING LEASES (Lease Cash Fl

OPERATING LEASES (Lease Cash Flow Information) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 201
Right-of-use assets obtained in exchange for lease obligations	$ 526

OPERATING LEASES (Rent Expense)

OPERATING LEASES (Rent Expense) (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2019	Jun. 30, 2019
Lease [Line Items]
Lease expenses		$ 248	$ 473
Short-term lease expenses		24	50
Cost of Sales [Member]
Lease [Line Items]
Lease expenses	[1]	163	324
Operating Expense [Member]
Lease [Line Items]
Lease expenses	[1]	$ 85	$ 149
[1]	Includes short-term lease expenses of approximately $24,000 and $50,000 for the three and six months ended June 30, 2019, respectively.

TAXES (Narrative) (Details)

TAXES (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
TAXES [Abstract]
Unrecognized Tax Benefits	$ 0		$ 0
Tax expense	$ 839,000	$ 684,000	$ 1,798,000	$ 1,522,000
Effective tax rate			21.00%

TAXES (Schedule of Income Tax E

TAXES (Schedule of Income Tax Examinations) (Details)	6 Months Ended
	Jun. 30, 2019
Various U.S. States [Member]
Income Tax Contingency [Line Items]
Earliest Exam Year	2014
U.S. Federal [Member]
Income Tax Contingency [Line Items]
Earliest Exam Year	2015
Puerto Rico (U.S. Territory) [Member]
Income Tax Contingency [Line Items]
Earliest Exam Year	2013
Canada [Member]
Income Tax Contingency [Line Items]
Earliest Exam Year	2013

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
EARNINGS PER SHARE [Abstract}
Basic - weighted average shares outstanding (in Shares)	7,388	7,410	7,388	7,408
Dilutive potential common shares (shares)	2	1	3	1
Diluted - weighted average shares outstanding (in Shares)	7,431	7,464	7,436	7,445
Anti-Dilutive securities	81		75	42
Dilutive stock options	41	53	45	36

SEGMENT INFORMATION (Narrative)

SEGMENT INFORMATION (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019segment
SEGMENT INFORMATION [Abstract]
Number of operating segments	3

SEGMENT INFORMATION (Summary of

SEGMENT INFORMATION (Summary of Segment Results) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
NET SALES	$ 61,959	$ 58,206	$ 127,888	$ 119,593
Gross margin	21,441	19,532	44,419	40,498
Wholesale (Member)
Segment Reporting Information [Line Items]
NET SALES	40,629	39,804	83,018	80,235
Gross margin	13,403	13,030	27,778	27,044
Retail (Member)
Segment Reporting Information [Line Items]
NET SALES	14,105	11,739	29,544	24,797
Gross margin	6,102	5,267	12,778	10,801
Military [Member]
Segment Reporting Information [Line Items]
NET SALES	7,225	6,663	15,326	14,561
Gross margin	$ 1,936	$ 1,235	$ 3,863	$ 2,653

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
SUPPLEMENTAL CASH FLOW INFORMATION [Abstract]
Interest paid	$ 82	$ 93
Federal, state, and local income taxes paid, net	5,326	(234)
Change in contract receivables	(1,959)	(8,634)
Change in contract liabilities	1,959	8,634
Property, plant, and equipment purchases in accounts payable	$ 741	$ 170