Rocky Brands (RCKY) 10-K 3 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 19, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Rocky Brands, Inc.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		7,583,901
Entity Public Float	$ 6,913,462
Amendment Flag	false
Entity Central Index Key	895,456
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 3,407,140	$ 4,616,694
Trade receivables – net	44,549,207	55,807,103
Other receivables	583,479	476,480
Inventories	76,991,059	85,237,042
Income tax receivable	128,699
Deferred income taxes	1,031,818	1,291,907
Prepaid expenses	2,530,517	2,553,442
Total current assets	129,221,919	149,982,668
FIXED ASSETS – net	27,836,527	26,264,641
IDENTIFIED INTANGIBLES	36,547,873	36,681,644
OTHER ASSETS	258,812	299,490
TOTAL ASSETS	193,865,131	213,228,443
CURRENT LIABILITIES:
Accounts payable	9,118,555	15,116,131
Accrued expenses:
Salaries and wages	442,259	1,773,061
Taxes - other	533,220	532,470
Accrued freight	427,412	683,482
Commissions	378,191	681,185
Accrued duty	2,301,449	2,693,223
Income taxes payable		2,687,535
Other	1,547,130	1,042,653
Total current liabilities	14,748,216	25,209,740
LONG TERM DEBT	23,700,089	36,270,373
DEFERRED LIABILITIES:
Deferred income taxes	13,000,609	12,928,048
Other deferred liabilities	295,676	472,364
TOTAL LIABILITIES	51,744,590	74,880,525
SHAREHOLDERS' EQUITY:
Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital	70,882,392	70,460,672
Retained earnings	71,238,149	67,887,246
Total shareholders' equity	142,120,541	138,347,918
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 193,865,131	$ 213,228,443

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - shares	Dec. 31, 2015	Dec. 31, 2014
Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital	7,567,271	7,550,126

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
NET SALES	$ 269,302,023	$ 286,242,169	$ 244,870,731
COST OF GOODS SOLD	180,410,184	189,881,444	161,328,280
GROSS MARGIN	88,891,839	96,360,725	83,542,451
OPERATING EXPENSES
Selling, general and administrative expenses	78,402,079	80,597,934	71,351,688
Acquisition related expenses			1,172,047
Total operating expenses	78,402,079	80,597,934	72,523,735
INCOME FROM OPERATIONS	10,489,760	15,762,791	11,018,716
OTHER INCOME AND (EXPENSES):
Interest expense	(696,827)	(943,154)	(688,502)
Gain on bargain purchase			601,975
Other - net	(105,433)	(78,455)	(116,665)
Total other - net	(802,260)	(1,021,609)	(203,192)
INCOME BEFORE INCOME TAXES	9,687,500	14,741,182	10,815,524
INCOME TAX EXPENSE	3,084,343	4,895,884	3,442,768
COMPREHENSIVE INCOME	$ 6,603,157	$ 9,845,298	$ 7,372,756
NET INCOME PER SHARE
Basic (in Dollars per share)	$ 0.87	$ 1.30	$ 0.98
Diluted (in Dollars per share)	$ 0.87	$ 1.30	$ 0.98
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in Shares)	7,563,205	7,544,936	7,517,364
Diluted (in Shares)	7,574,172	7,547,781	7,517,364

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY - USD ($)	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	Total
BALANCE - December 31, 20 at Dec. 31, 2012		$ 69,694,770	$ 55,942,106	$ 125,636,876
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2012	7,503,568
YEAR ENDED DECEMBER 31, 2013
Net income			7,372,756	7,372,756
Dividends Paid on Common Stock			(2,254,935)	(2,254,935)
Stock compensation expense		458,800		458,800
Stock compensation expense (in Shares)	32,880
BALANCE - December 31, 20 at Dec. 31, 2013		70,153,570	61,059,927	131,213,497
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2013	7,536,448
YEAR ENDED DECEMBER 31, 2013
Net income			9,845,298	9,845,298
Dividends Paid on Common Stock			(3,017,979)	(3,017,979)
Stock compensation expense		307,102		307,102
Stock compensation expense (in Shares)	13,678
BALANCE - December 31, 20 at Dec. 31, 2014		70,460,672	67,887,246	138,347,918
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2014	7,550,126
YEAR ENDED DECEMBER 31, 2013
Net income			6,603,157	6,603,157
Dividends Paid on Common Stock			(3,252,254)	(3,252,254)
Stock issued and options exercised including related tax benefits		8,742		$ 8,742
Stock issued and options exercised including related tax benefits (in Shares)	600			600
Stock compensation expense		412,978		$ 412,978
Stock compensation expense (in Shares)	16,545
BALANCE - December 31, 20 at Dec. 31, 2015		$ 70,882,392	$ 71,238,149	$ 142,120,541
BALANCE - December 31, 20 (in Shares) at Dec. 31, 2015	7,567,271

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 6,603,157	$ 9,845,298	$ 7,372,756
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,188,123	6,941,905	6,264,246
Deferred income taxes	332,650	989,473	750,363
Loss on disposal of fixed assets	19,500	138,056	52,293
Gain on acquisition			(601,975)
Stock compensation expense	412,978	307,102	458,800
Change in assets and liabilities:
Receivables	11,150,897	(6,888,027)	(3,182,751)
Inventories	8,245,983	(7,065,372)	(9,813,065)
Income tax receivable	(128,699)	242,228	(242,228)
Other current assets	22,925	(24,035)	(319,340)
Other assets	40,678	109,208	68,214
Accounts payable	(6,004,991)	4,004,111	(4,779,055)
Accrued and other liabilities	(4,640,636)	4,380,101	1,518,524
Net cash provided by (used in) operating activities	23,242,565	12,980,048	(2,453,218)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(8,654,642)	(7,442,086)	(7,717,102)
Proceeds from sales of fixed assets	17,495	63,012	47,625
Acquisition of business assets			(2,229,000)
Investment in trademarks and patents	(1,176)	(9,446)	(68,452)
Net cash used in investing activities	(8,638,323)	(7,388,520)	(9,966,929)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility	68,423,672	75,190,968	78,622,969
Repayments on revolving credit facility	(80,993,956)	(77,308,793)	(63,696,111)
Debt financing costs		(54,647)	(58,738)
Proceeds from stock options	8,742
Dividends paid on common stock	(3,252,254)	(3,017,979)	(2,254,935)
Net cash (used in) provided by financing activities	(15,813,796)	(5,190,451)	12,613,185
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(1,209,554)	401,077	193,038
CASH AND CASH EQUIVALENTS:
BEGINNING OF PERIOD	4,616,694	4,215,617	4,022,579
END OF PERIOD	$ 3,407,140	$ 4,616,694	$ 4,215,617

1. SUMMARY OF SIGNIFICANT ACCOU

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Business Activity Our products are distributed through three distinct 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. and Canada. Our wholesale channels vary by product line and include sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores and other specialty retailers. Our retail business includes direct sales of our products to consumers through our e-commerce websites and our Rocky outlet store. We operate four mobile trucks to service the New York Transit Authority’s employees. We also sell footwear under the Rocky label to the U.S. military. We did not have any single customer account for more than 10% of consolidated net sales in 2015, 2014 or 2013. Estimates Cash and Cash Equivalents Trade Receivables Concentration of Credit Risk Supplier and Labor Concentrations We produce a portion of our shoes and boots in our Dominican Republic operation and in our Puerto Rico operation. We are not aware of any governmental or economic restrictions that would alter these current operations. We source a significant portion of our footwear, apparel and gloves from manufacturers in the Far East, primarily China. We are not aware of any governmental or economic restrictions that would alter our current sourcing operations. Inventories Fixed Assets Years Buildings and improvements 5-40 Machinery and equipment 3-8 Furniture and fixtures 3-8 Lasts, dies, and patterns 3 For income tax purposes, the Company generally computes depreciation utilizing accelerated methods. Identified intangible assets If events or circumstances change, a determination is made by management, in accordance with the accounting standard for “Property, Plant and Equipment” to ascertain whether property, equipment and certain finite-lived intangibles have been impaired based on the sum of expected future undiscounted cash flows from operating activities. If the estimated net cash flows are less than the carrying amount of such assets, we will recognize an impairment loss in an amount necessary to write down the assets to fair value as determined from expected future discounted cash flows. In accordance with the accounting standard for “Intangibles – Goodwill and Other”, we test intangible assets with indefinite lives for impairment annually or when conditions indicate impairment may have occurred. We perform such testing of our indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Advertising Revenue Recognition Shipping Costs Per Share Information Years Ended December 31, 2015 2014 2013 Basic - weighted average shares outstanding 7,563,205 7,544,936 7,517,364 Dilutive restricted share units 9,987 2,845 Dilutive stock options 980 - - Diluted - weighted average shares outstanding 7,574,172 7,547,781 7,517,364 Anti-Dilutive securities - stock options 84,210 43,029 8,630 Comprehensive Income Fair Value Measurements 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, accounts receivable, other receivables and accounts payable approximated their carrying values because of the short-term nature of these instruments. Accounts receivable consists primarily of amounts due from our customers, net of allowances. Other receivables consist primarily of 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 revolving line of credit and other short-term financing obligations also approximate fair value, as they are comparable to the available financing in the marketplace during the year. In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of an Entity. The amendments in this update change the requirements for reporting discontinued operations in Subtopic 205-20. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs: 1. The component of an entity or group of components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. 2. The component of an entity or group of components of an entity is disposed of by sale. 3. The component of an entity or group of components of an entity is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff). The update is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. The adoption of this standard did not have an effect on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The amendments in this update supersede the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, the amendments supersede the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and create new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14. The amendments in this update defer the effective date of Update 2014-09. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements. In June 2014, the FASB issued ASU No. 2014-12, Compensation – Stock Compensation (Topic 718). Some share-based payment awards that require a specific performance target to be achieved before the employee can benefit from the award, also require an employee to render service until the performance target is achieved. In some cases, the terms of an award may provide that the performance target could be achieved after an employee completes the requisite service period. That is, the employee would be entitled to benefit from the award regardless of whether the employee is rendering service on the date the performance target is achieved. Some entities account for those performance targets as performance conditions that affect the vesting of the award and, therefore, do not reflect the performance target in the estimate of the grant-date fair value. Others treat them as nonvesting conditions that affect the grant-date fair value of the award. The amendments apply to reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target can be achieved after the requisite service period. The update is effective for public entities for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We have not yet determined the impact this ASU will have on our consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40). Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this update provide that guidance. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, In January 2015, the FASB issued ASU No. 2015-01, Income Statement – Extraordinary and Unusual Items (Subtopic 225-20). The objective of this update is to simplify the income statement presentation requirements in Subtopic 225-20 by eliminating the concept of extraordinary items. Extraordinary items are events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence. Eliminating the extraordinary classification simplifies income statement presentation by altogether removing the concept of extraordinary items from consideration. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We have not yet determined the impact this ASU will have on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30). The objective of this update is to simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The amendments in this update are effective for fiscal years beginning after December 15, 2015. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively adjusted, and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). We have not yet determined the impact this ASU will have on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330). The amendments in this Update require an entity to measure inventory within the scope of this Update at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. The amendments in this Update more closely align the measurement of inventory in GAAP with the measurement of inventory in International Financial Reporting Standards (IFRS). For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in this Update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes - Balance Sheet Classification of Deferred Taxes (Topic 740). The amendments in this Update will simplify the presentation of deferred income taxes, the amendments in this Update require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this Update apply to all entities that present a classified statement of financial position. The current requirement that deferred tax liabilities and assets of a tax-paying component of an entity be offset and presented as a single amount is not affected by the amendments in this Update. For public business entities, the amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. We have not yet determined the impact this ASU will have on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The amendments in this Update will require lessees to recognize (with the exception of short-term leases) a lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and 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. Under the new guidance, lessor accounting is largely unchanged. The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. For public business entities, the amendments in this Update are effective for years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted for all entities upon issuance. We have not yet determined the impact this ASU will have on our consolidated financial statements.

2. INVENTORIES

2. INVENTORIES	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	2. INVENTORIES Inventories are comprised of the following: December 31, 2015 2014 Raw materials $ 12,494,980 $ 11,702,762 Work-in-process 1,155,837 577,127 Finished goods 63,340,242 72,957,153 Total $ 76,991,059 $ 85,237,042

3. IDENTIFIED INTANGIBLE ASSETS

3. IDENTIFIED INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Disclosure Text Block [Abstract]
Intangible Assets Disclosure [Text Block]	3. IDENTIFIED INTANGIBLE ASSETS A schedule of identified intangible assets is as follows: Gross Accumulated Carrying December 31, 2015 Amount Amortization Amount Trademarks Wholesale $ 32,343,578 $ - $ 32,343,578 Retail 2,900,000 - 2,900,000 Patents 2,595,477 2,324,515 270,962 Customer Relationships 2,200,000 1,166,667 1,033,333 Total Intangibles $ 40,039,055 $ 3,491,182 $ 36,547,873 December 31, 2014 Trademarks Wholesale $ 32,343,578 $ - $ 32,343,578 Retail 2,900,000 - 2,900,000 Patents 2,594,301 2,269,569 324,732 Customer Relationships 2,200,000 1,086,666 1,113,334 Total Intangibles $ 40,037,879 $ 3,356,235 $ 36,681,644 Amortization expense related to finite-lived intangible assets was approximately $135,000, $135,000 and $60,000 in 2015, 2014 and 2013, respectively. Such amortization expense will be approximately $121,000 per year for 2016 through 2020. The increase in 2015 and 2014 was attributed to the additional amortization related to the additional customer relationship from the acquisition of the Creative Recreation business as noted in Note 15. The weighted average lives of patents and customer relationships are 6 years. Intangible assets, including trademarks and patents are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of the asset below its carrying amount. Fair value of other indefinite-lived intangible assets is determined using the relief from royalty method. In assessing whether indefinite-lived intangible assets are impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our business, operating margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of capital, and market multiples to determine the fair value of our assets. These estimates and assumptions require management’s judgment, and changes to these estimates and assumptions could materially affect the determination of fair value and/or impairment for each of our indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset impairment exist. Impairment may result from, among other things, deterioration in the performance of our business, adverse market conditions, adverse changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. We evaluate our finite and indefinite lived trademarks under the terms and provisions of the accounting standards for “Intangibles - Goodwill and Other”; and “Property, Plant and Equipment.” These pronouncements require that we compare the fair value of an intangible asset with its carrying amount. Our 2015 and 2014 evaluation did not result in the impairment of any of our indefinite lived intangible assets.

4. OTHER ASSETS

4. OTHER ASSETS	12 Months Ended
	Dec. 31, 2015
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	4. OTHER ASSETS Other assets consist of the following: December 31, 2015 2014 Deferred financing costs, net $ 120,403 $ 151,144 Other 138,409 148,346 Total $ 258,812 $ 299,490

5. FIXED ASSETS

5. FIXED ASSETS	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	5. FIXED ASSETS Fixed assets are comprised of the following: December 31, 2015 2014 Land $ 671,035 $ 671,035 Buildings 19,247,770 19,027,998 Machinery and equipment 40,611,815 39,206,408 Furniture and fixtures 2,722,751 2,491,295 Lasts, dies and patterns 13,811,676 12,131,234 Construction work-in-progress 3,161,533 281,198 Total 80,226,580 73,809,168 Less - accumulated depreciation (52,390,053 ) (47,544,527 ) Net Fixed Assets $ 27,836,527 $ 26,264,641 We incurred approximately $7,053,000, $6,807,000 and $6,204,000 in depreciation expense for 2015, 2014 and 2013, respectively.

6. LONG-TERM DEBT

6. LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	6. LONG-TERM DEBT In October 2010, we entered into a financing agreement with PNC Bank (“PNC”) to provide a $70 million credit facility. In December 2014, we amended and restated the credit facility to increase the facility to $75 million and extend the term of the facility an additional five years. The credit facility’s base interest rate is the current prime rate less 0.25%, however the credit facility provides 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 is determined based on the fixed loan maturities, which vary from 30, 60, 90, or 180 days. As of December 31, 2015 and December 31, 2014, we had approximately $17.0 million and $35.0 million, respectively, in fixed LIBOR borrowings under the credit facility. The total amount available under our amended and restated revolving credit facility is subject to a borrowing base calculation based on various percentages of accounts receivable and inventory. As of December 31, 2015, we had $23.7 million in borrowings under this facility and total capacity of $66.3 million. Our amended and restated credit facility contains a restrictive covenant which requires us to maintain a fixed charge coverage ratio. This restrictive covenant is only in effect upon a triggering event taking place (as defined in the amended and restated credit facility agreement). At December 31, 2015, there was no triggering event and the covenant was not in effect. Our amended and restated credit facility places a restriction on the amount of dividends that may be paid. During 2015, 2014 and 2013, we paid dividends on our common stock totaling $3,252,254, $3,017,979 and $2,254,935, respectively. Our amended and restated revolving credit facility matures in November 2019. We have no other long-term debt maturities.

7. OPERATING LEASES

7. OPERATING LEASES	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Operating Leases of Lessee Disclosure [Table Text Block]	7. OPERATING LEASES We lease certain machinery, trucks, and facilities under operating leases that generally provide for renewal options. We incurred approximately $1,335,000, $1,324,000 and $840,000 in rent expense under operating lease arrangements for 2015, 2014 and 2013, respectively. Future minimum lease payments under non-cancelable operating leases are approximately as follows for the years ended December 31: 2016 $ 1,205,000 2017 1,129,000 2018 620,000 2019 110,143 2020 - Total $ 3,064,143

8. RETIREMENT PLANS

8. RETIREMENT PLANS	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. RETIREMENT PLANS We also sponsor a 401(k) savings plan for substantially all of our employees. We provide a contribution of 3% of applicable salary to the plan for all employees with greater than six months of service. Additionally, we match eligible employee contributions at a rate of 0.25%, per one percent of applicable salary contributed to the plan by the employee. This matching contribution will be made by us up to a maximum of 1% of the employee’s applicable salary for all qualified employees. Our contributions to the 401(k) plan were approximately $1.0 million in 2015, $1.0 million in 2014 and $0.9 million in 2013.

9. INCOME TAXES

9. INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	9. INCOME TAXES The Company accounts for income taxes in accordance with the accounting standard for “Income Taxes”, which requires an asset and liability approach to financial accounting and reporting for income taxes. Accordingly, deferred income taxes have been provided for the temporary differences between the financial reporting and the income tax basis of the Company’s assets and liabilities by applying enacted statutory tax rates applicable to future years to the basis differences. A breakdown of our income tax expense is as follows: Years Ended December 31, 2015 2014 2013 Federal: Current $ 2,656,870 $ 3,656,356 $ 2,540,701 Deferred 287,755 848,666 778,213 Total Federal 2,944,625 4,505,022 3,318,914 State & local: Current 81,433 203,144 109,254 Deferred 86,863 140,552 (29,619 ) Total State & local 168,296 343,696 79,635 Foreign Current 13,391 46,911 42,450 Deferred (41,969 ) 255 1,769 Total Foreign (28,578 ) 47,166 44,219 Total $ 3,084,343 $ 4,895,884 $ 3,442,768 A reconciliation of recorded Federal income tax expense to the expected expense computed by applying the applicable Federal statutory rate for all periods to income before income taxes follows: Years Ended December 31, 2015 2014 2013 Expected expense at statutory rate $ 3,404,159 $ 5,147,234 $ 3,775,418 Increase (decrease) in income taxes resulting from: Exempt income from Dominican Republic operations due to tax holiday (2,816,963 ) (3,477,301 ) (1,871,847 ) Tax on repatriated earnings from Dominican Republic operations 2,556,940 3,090,036 1,592,238 Impact of Canadian deemed dividend - 12,703 9,712 State and local income taxes 67,886 284,838 45,948 Section 199 manufacturing deduction (194,498 ) (135,690 ) (51,396 ) Meals and entertainment 98,082 91,475 76,465 Nondeductible penalties 5,998 1,563 1,500 Provision to return filing adjustments and other (37,261 ) (118,974 ) (135,270 ) Total $ 3,084,343 $ 4,895,884 $ 3,442,768 Deferred income taxes recorded in the consolidated balance sheets at December 31, 2015 and 2014 consist of the following: December 31, 2015 2014 Deferred tax assets: Asset valuation allowances and accrued expenses $ 510,798 $ 776,416 Inventories 563,815 705,028 State and local income taxes 425,179 394,776 Pension and deferred compensation 72,004 80,969 Net operating losses 650,620 575,702 Total deferred tax assets 2,222,416 2,532,891 Valuation allowances (569,459 ) (569,881 ) Total deferred tax assets 1,652,957 1,963,010 Deferred tax liabilities: Fixed assets (1,655,838 ) (1,736,042 ) Intangible assets (11,185,988 ) (11,001,289 ) Other assets (400,651 ) (482,549 ) Tollgate tax on Lifestyle earnings (379,271 ) (379,271 ) Total deferred tax liabilities (13,621,748 ) (13,599,151 ) Net deferred tax liability $ (11,968,791 ) $ (11,636,141 ) Deferred income taxes - current $ 1,031,818 $ 1,291,907 Deferred income taxes - non-current (13,000,609 ) (12,928,048 ) $ (11,968,791 ) $ (11,636,141 ) The valuation allowance is related to certain state and local income tax net operating loss carry forwards. We have provided Puerto Rico tollgate taxes on approximately $3,684,000 of accumulated undistributed earnings of Lifestyle prior to the fiscal year ended June 30, 1994, that would be payable if such earnings were repatriated to the United States. In 2001, we received abatement for Puerto Rico tollgate taxes on all earnings subsequent to June 30, 1994, thus no other provision for tollgate tax has been made on earnings after that date. If we repatriate the earnings from Lifestyle, approximately $379,000 of tollgate tax would be due. As of December 31, 2015, we had approximately $18,323,000 of undistributed earnings from non-U.S. subsidiaries that are intended to be permanently reinvested in non-U.S. operations. Because these earnings are considered permanently reinvested, no U.S. tax provision has been accrued related to the repatriation of these earnings. If the Five Star undistributed earnings were distributed to the Company in the form of dividends, the related taxes on such distributions would be approximately $6,413,000. We file income tax returns in the U.S. Federal jurisdiction and various state and foreign jurisdictions. We are no longer subject to U.S. Federal tax examinations for years before 2012. In 2014, we were subjected to an IRS examination for our consolidated U.S. Federal return for the year 2011. There were no adjustments to our return as a result of that examination. State jurisdictions that remain subject to examination range from 2011 to 2015. Foreign jurisdiction (Canada and Puerto Rico) tax returns that remain subject to examination range from 2010 to 2015. Our policy is to accrue interest and penalties on any uncertain tax position as a component of income tax expense. As of December 31, 2015 no such expenses were recognized during the year. 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. The Company did not have any unrecognized tax benefits and there was no effect on its financial condition or results of operations as a result of implementing this standard.

10. COMMITMENTS AND CONTINGENCI

10. COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	10. COMMITMENTS AND CONTINGENCIES We are, from time to time, a party to litigation which arises in the normal course of business. Although the ultimate resolution of pending proceedings cannot be determined, in the opinion of management, the resolution of such proceedings in the aggregate will not have a material adverse effect on our financial position, results of operations, or liquidity.

11. CAPITAL STOCK AND STOCK BAS

11. CAPITAL STOCK AND STOCK BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Policy Text Block [Abstract]
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	11. CAPITAL STOCK AND STOCK BASED COMPENSATION On May 7, 2014, our shareholders approved the 2014 Omnibus Incentive Plan (the “2014 Plan”). The 2014 Plan includes 500,000 of our common shares that may be granted under various types of awards as described in the 2014 Plan. As of December 31, 2015, we were authorized to issue 394,291 shares under this plan. Service Based Restricted Stock In the first quarter of 2015, we issued 28,000 restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $13.42 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In August 2015, we issued 2,000 restricted stock units to a member of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest on the same basis as the restricted stock units issued in the first quarter of 2015. We valued the units at a fair value of $18.15 per unit, which was the closing price of our stock on the last trading date prior to the grant date. In the first quarter of 2014, we issued 23,000 shares of restricted stock units to certain members of our management that will be settled in one share of common stock of the company per unit. These restricted stock units vest in increments of 25% per year over the next four years. We valued the units at a fair value of $14.57 per unit, which was the closing price of our stock on the last trading date prior to the grant date. For the years ended December 31, 2015 and 2014, we recorded expense of $183,150 and $83,778, respectively, related to these restricted stock units. Performance Based Restricted Stock In the first quarter of 2015, we made available up to 32,000 performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2016. In August 2015, we made available up to 2,000 performance based restricted stock units to a member of our management. The shares underlying the performance based restricted stock units will be issued under the same criteria as the shares issued in the first quarter of 2015. For the year ended 2015, we did not record any expense related to the performance units as it is uncertain if we will reach the performance goals. In the first quarter of 2014, we made available up to 23,000 shares of performance based restricted stock units to certain members of our management. Shares underlying the performance based restricted stock units will be issued upon achieving certain established EPS goals at the end of fiscal year 2015. For the years ended 2015 and 2014, we did not record any expense related to these restricted stock units as the performance goals were not achieved. Stock Options In the first quarter of 2015, we issued 28,000 stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $13.42 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $4.70 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 46.20%, a risk free interest rate of 1.92%, a dividend yield of 2.99% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In August 2015, we issued 2,000 stock options to a member of our management. These stock options vest in increments of 20% per year over the next five years, except for the first tranche of options that will vest on January 1, 2016. The options are exercisable at $18.15 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.95 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 40.32%, a risk free interest rate of 1.98%, a dividend yield of 2.46% and an initial employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. In the first quarter of 2014, we issued 23,000 shares of stock options to certain members of our management. These stock options vest in increments of 20% per year over the next five years. The options are exercisable at $14.57 per option, which was the closing price of our stock on the last trading date prior to the grant date. We have determined the fair value of the options to be $5.94 per option using the Black Scholes calculation. The significant assumptions utilized for the Black Scholes calculations consist of an expected life of 6.5 years, historical volatility of 52.04%, a risk free interest rate of 2.41%, a dividend yield of 2.75% and an employee forfeiture rate of 3.8%. Our expected life estimate is based on the sum of the vesting terms divided by the number of vesting tranches. For the years ended 2015 and 2014, we recorded expense of $54,828 and $27,324, respectively, related to these stock options. For the above issuances under the plan, we expect to recognize expense in the years 2016 through 2019 as follows: 2016 $ 215,585 2017 206,246 2018 132,463 2019 23,174 Total $ 577,468 The following summarizes stock option transactions from January 1, 2014 through December 31, 2015: Shares Weighted Weighted Aggregate Options outstanding at January 1, 2014 - $ - Issued 23,000 $ 14.57 Exercised - $ - Forfeited - $ - Options outstanding at December 31, 2014 23,000 $ 14.57 9.0 $ - Options exercisable at: January 1, 2014 - $ - $ - December 31, 2014 - $ - - $ - Unvested options at December 31, 2014 23,000 $ 14.57 9.0 $ - Options outstanding at January 1, 2015 23,000 $ 14.57 Issued 30,000 $ 13.74 Exercised (600 ) $ 14.57 Forfeited (800 ) $ 14.57 Options outstanding at December 31, 2015 51,600 $ 14.08 8.6 $ - Options exercisable at: January 1, 2015 - $ - $ - December 31, 2015 4,000 $ 14.57 8.0 $ - Unvested options at December 31, 2015 47,600 $ 14.04 8.6 $ - During the years ended December 31, 2015 and 2014, a total of 30,000 and 23,000 were issued with an intrinsic value of zero for all years. During the year ended December 31, 2015, a total of 600 options were exercised with an intrinsic value of zero. During the year ended December 31, 2015, a total of 800 options were forfeited with a fair value of $4,752. A total of 4,000 options vested during the year ended December 31, 2015 with a fair value of $23,760. At December 31, 2015 and 2014, a total of 47,600 and 23,000 options were unvested with a fair value of $248,004 and $136,620. There were no options issued or exercised during 2013. During the year ended December 31, 2015, we issued 10,793 shares of common stock to members of our Board of Directors. We recorded compensation expense of $175,000, which was the fair market value of the shares on the grant dates. The shares are fully vested. The Company has authorized 250,000 shares of voting preferred stock without par value. No shares are issued or outstanding. Also, the Company has authorized 250,000 shares of non-voting preferred stock without par value. Of these, 125,000 shares have been designated Series A non-voting convertible preferred stock with a stated value of $.06 per share, of which no shares are issued or outstanding at December 31, 2015 and 2014, respectively. The plans generally provided for grants with the exercise price equal to fair value on the date of grant, graduated vesting periods of up to 5 years, and lives not exceeding 10 years. In June 2009, our Board of Directors adopted a Rights Agreement, which provides for one preferred share purchase right to be associated with each share of our outstanding common stock. Shareholders exercising these rights would become entitled to purchase shares of Series B Junior Participating Cumulative Preferred Stock. The rights are exercisable after the time when a person or group of persons without the approval of the Board of Directors acquire beneficial ownership of 20 percent or more of our common stock or announce the initiation of a tender or exchange offer which if successful would cause such person or group to beneficially own 20 percent or more of the common stock. Such exercise would ultimately entitle the holders of the rights to purchase at the exercise price, shares of common stock of the surviving corporation or purchaser, respectively, with an aggregate market value equal to two times the exercise price. The person or groups effecting such 20 percent acquisition or undertaking such tender offer would not be entitled to exercise any rights. The Rights Agreement was renewed in June 2012 and expired in August 2015.

12. SUPPLEMENTAL CASH FLOW INFO

12. SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	12. SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information including other cash paid for interest and Federal, state and local income taxes was as follows: Years Ended December 31, 2015 2014 2013 Interest paid $ 724,651 $ 856,578 $ 683,475 Federal, state and local income taxes paid - net of refunds $ 5,568,581 $ 972,645 $ 3,248,181 Capitalized interest $ - $ - $ - Fixed asset purchases in accounts payable $ 92,903 $ 85,488 $ 459,941

13. SEGMENT INFORMATION

13. SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	13. SEGMENT INFORMATION Operating Segments Wholesale. Retail. Military. We have received an order to fulfill a contract to the U.S. Military to produce “Hot Weather” combat boots. We began shipping boots in the first quarter of 2013. The contract included a minimum purchase amount of $3.0 million and a maximum of $15.0 million for the first year and included an option for four additional years with the same terms. During 2014 and 2015, we shipped boots under this agreement. The following is a summary of segment results for the Wholesale, Retail, and Military segments. Certain amounts from prior year have been reclassified to conform to current year presentation. Years Ended December 31, 2015 2014 2013 NET SALES: Wholesale $ 206,072,657 $ 233,898,250 $ 192,901,438 Retail 45,808,705 44,347,775 43,092,829 Military 17,420,661 7,996,144 8,876,464 Total Net Sales $ 269,302,023 $ 286,242,169 $ 244,870,731 GROSS MARGIN: Wholesale $ 65,979,792 $ 75,840,977 $ 62,420,052 Retail 20,621,884 19,449,609 19,856,441 Military 2,290,163 1,070,139 1,265,958 Total Gross Margin $ 88,891,839 $ 96,360,725 $ 83,542,451 Segment asset information is not prepared or used to assess segment performance. Product Group Information 2015 % of 2014 % of 2013 % of Work footwear $ 120,422,188 44.7 % $ 131,510,217 45.9 % $ 123,131,787 50.3 % Western footwear 43,435,734 16.1 % 45,475,880 15.9 % 36,998,504 15.1 % Duty and commercial military footwear 33,341,424 12.4 % 38,174,738 13.3 % 33,517,114 13.7 % Lifestyle footwear 23,370,822 8.7 % 25,823,220 9.0 % 10,599,879 4.3 % Outdoor footwear 20,688,005 7.7 % 24,606,151 8.6 % 20,194,524 8.2 % Military footwear 17,420,661 6.5 % 7,996,144 2.8 % 8,876,464 3.6 % Apparel 5,662,277 2.1 % 7,471,005 2.6 % 6,676,075 2.7 % Other 4,155,137 1.5 % 4,100,128 1.4 % 4,454,968 1.8 % Royalty income 805,775 0.3 % 1,084,686 0.4 % 421,416 0.2 % $ 269,302,023 100 % $ 286,242,169 100 % $ 244,870,731 100 % Net sales to foreign countries, primarily Canada, represented approximately 4.8% of net sales in 2015, 6.3% of net sales in 2014 and 2.9% of net sales in 2013.

14. QUARTERLY RESULTS OF OPERAT

14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2015 and 2014: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Year 2015 Net sales $ 65,451,303 $ 68,583,196 $ 70,001,496 $ 65,266,028 $ 269,302,023 Gross margin 21,971,310 22,648,633 22,117,477 22,154,419 88,891,839 Net income 1,413,947 2,002,673 1,803,667 1,382,870 6,603,157 Dividends paid 755,953 831,827 832,073 832,401 3,252,254 Net income per common share: Basic $ 0.19 $ 0.26 $ 0.24 $ 0.18 $ 0.87 Diluted $ 0.19 $ 0.26 $ 0.24 $ 0.18 $ 0.87 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Year 2014 Net sales $ 65,783,284 $ 68,822,520 $ 72,729,678 $ 78,906,687 $ 286,242,169 Gross margin 21,853,149 22,585,662 24,273,792 27,648,122 96,360,725 Net income 723,788 1,511,461 3,138,507 4,471,542 9,845,298 Dividends paid 753,981 754,321 754,665 755,012 3,017,979 Net income per common share: Basic $ 0.10 $ 0.20 $ 0.42 $ 0.59 $ 1.30 Diluted $ 0.10 $ 0.20 $ 0.42 $ 0.59 $ 1.30 F -

15. ACQUISITION OF CREATIVE REC

15. ACQUISITION OF CREATIVE RECREATION	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	15. ACQUISITION OF CREATIVE RECREATION On December 13, 2013, we completed the acquisition of certain assets of Kommonwealth, Inc. including the Creative Recreation trademark, a lifestyle footwear brand best known for its popular crossover between athletic sneakers and dress shoes. The total purchase price was $8,722,843 including cash and assumption of certain liabilities. The acquisition was funded by our existing cash balances and funds available under our existing revolving credit facility. We did not have any sales in 2013 related to this acquisition and had net pre-tax operational expenses of $172,418 that was included as a component of income from operations. In addition, we incurred $1,172,047 of acquisition related expenses. The acquisition related expenses were included as a component of income from operations for the year ended December 31, 2013 and consisted of the following: Investment banker fees $ 503,072 Professional fees 187,585 Valuation services 37,561 Stock compensation expense 290,800 Freight and warehousing expenses 86,726 Travel Expenses 66,303 Total acquisition related expenses $ 1,172,047 The acquisition was accounted for under the purchase method of accounting in accordance with ASC 805, Business Combinations, with the excess of the fair market value of the assets acquired and liabilities assumed in excess of the purchase price recorded as a gain on purchase. Based on the purchase price allocation, the purchase price resulted in a gain on purchase. The purchase price allocation is based upon certain estimates made by management with the assistance of an independent, third-party valuation company. During 2015 and 2014, we had $13.6 million and $16.1 million, respectively, in net sales for the Creative Recreation business. Purchase Price Allocation We negotiated the respective purchase prices of the assets based on the expected cash flows to be derived from the assets after integration into our existing sourcing and distribution networks. The acquisition purchase price was allocated based on the fair values of the assets acquired and liabilities assumed, which are based on management estimates and the assistance of third-party appraisals. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed. Purchase Price $ 2,229,000 Preliminary Allocation of Purchase Price Accounts receivable (1,081,764 ) Inventories (1,162,360 ) Prepaid expenses and deposits (82,339 ) Property and equipment (698,355 ) Trademarks (5,100,000 ) Customer relationships (1,200,000 ) Total assets acquired (9,324,818 ) Accounts payable 6,493,843 Net gain on purchase $ (601,975 ) Intangible assets related to the acquisitions represent the fair value of trademarks and customer relationships. See Note 3 intangible assets.

1. SUMMARY OF SIGNIFICANT ACC22

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Earnings Per Share, Policy [Policy Text Block]	Years Ended December 31, 2015 2014 2013 Basic - weighted average shares outstanding 7,563,205 7,544,936 7,517,364 Dilutive restricted share units 9,987 2,845 Dilutive stock options 980 - - Diluted - weighted average shares outstanding 7,574,172 7,547,781 7,517,364 Anti-Dilutive securities - stock options 84,210 43,029 8,630

2. INVENTORIES (Tables)

2. INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2015
Inventory Disclosure [Abstract]
Inventory Related Text	December 31, 2015 2014 Raw materials $ 12,494,980 $ 11,702,762 Work-in-process 1,155,837 577,127 Finished goods 63,340,242 72,957,153 Total $ 76,991,059 $ 85,237,042

3. IDENTIFIED INTANGIBLE ASSE24

3. IDENTIFIED INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure Text Block [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Gross Accumulated Carrying December 31, 2015 Amount Amortization Amount Trademarks Wholesale $ 32,343,578 $ - $ 32,343,578 Retail 2,900,000 - 2,900,000 Patents 2,595,477 2,324,515 270,962 Customer Relationships 2,200,000 1,166,667 1,033,333 Total Intangibles $ 40,039,055 $ 3,491,182 $ 36,547,873 December 31, 2014 Trademarks Wholesale $ 32,343,578 $ - $ 32,343,578 Retail 2,900,000 - 2,900,000 Patents 2,594,301 2,269,569 324,732 Customer Relationships 2,200,000 1,086,666 1,113,334 Total Intangibles $ 40,037,879 $ 3,356,235 $ 36,681,644

4. OTHER ASSETS (Tables)

4. OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure Text Block Supplement [Abstract]
Schedule of Other Assets [Table Text Block]	December 31, 2015 2014 Deferred financing costs, net $ 120,403 $ 151,144 Other 138,409 148,346 Total $ 258,812 $ 299,490

5. FIXED ASSETS (Tables)

5. FIXED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	December 31, 2015 2014 Land $ 671,035 $ 671,035 Buildings 19,247,770 19,027,998 Machinery and equipment 40,611,815 39,206,408 Furniture and fixtures 2,722,751 2,491,295 Lasts, dies and patterns 13,811,676 12,131,234 Construction work-in-progress 3,161,533 281,198 Total 80,226,580 73,809,168 Less - accumulated depreciation (52,390,053 ) (47,544,527 ) Net Fixed Assets $ 27,836,527 $ 26,264,641

7. OPERATING LEASES (Tables)

7. OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	2016 $ 1,205,000 2017 1,129,000 2018 620,000 2019 110,143 2020 - Total $ 3,064,143

9. INCOME TAXES (Tables)

9. INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years Ended December 31, 2015 2014 2013 Federal: Current $ 2,656,870 $ 3,656,356 $ 2,540,701 Deferred 287,755 848,666 778,213 Total Federal 2,944,625 4,505,022 3,318,914 State & local: Current 81,433 203,144 109,254 Deferred 86,863 140,552 (29,619 ) Total State & local 168,296 343,696 79,635 Foreign Current 13,391 46,911 42,450 Deferred (41,969 ) 255 1,769 Total Foreign (28,578 ) 47,166 44,219 Total $ 3,084,343 $ 4,895,884 $ 3,442,768
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2015 2014 2013 Expected expense at statutory rate $ 3,404,159 $ 5,147,234 $ 3,775,418 Increase (decrease) in income taxes resulting from: Exempt income from Dominican Republic operations due to tax holiday (2,816,963 ) (3,477,301 ) (1,871,847 ) Tax on repatriated earnings from Dominican Republic operations 2,556,940 3,090,036 1,592,238 Impact of Canadian deemed dividend - 12,703 9,712 State and local income taxes 67,886 284,838 45,948 Section 199 manufacturing deduction (194,498 ) (135,690 ) (51,396 ) Meals and entertainment 98,082 91,475 76,465 Nondeductible penalties 5,998 1,563 1,500 Provision to return filing adjustments and other (37,261 ) (118,974 ) (135,270 ) Total $ 3,084,343 $ 4,895,884 $ 3,442,768
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2015 2014 Deferred tax assets: Asset valuation allowances and accrued expenses $ 510,798 $ 776,416 Inventories 563,815 705,028 State and local income taxes 425,179 394,776 Pension and deferred compensation 72,004 80,969 Net operating losses 650,620 575,702 Total deferred tax assets 2,222,416 2,532,891 Valuation allowances (569,459 ) (569,881 ) Total deferred tax assets 1,652,957 1,963,010 Deferred tax liabilities: Fixed assets (1,655,838 ) (1,736,042 ) Intangible assets (11,185,988 ) (11,001,289 ) Other assets (400,651 ) (482,549 ) Tollgate tax on Lifestyle earnings (379,271 ) (379,271 ) Total deferred tax liabilities (13,621,748 ) (13,599,151 ) Net deferred tax liability $ (11,968,791 ) $ (11,636,141 ) Deferred income taxes - current $ 1,031,818 $ 1,291,907 Deferred income taxes - non-current (13,000,609 ) (12,928,048 ) $ (11,968,791 ) $ (11,636,141 )

11. CAPITAL STOCK AND STOCK B29

11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Policy Text Block [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	2016 $ 215,585 2017 206,246 2018 132,463 2019 23,174 Total $ 577,468
Schedule of Share-based Compensation, Activity [Table Text Block]	Shares Weighted Weighted Aggregate Options outstanding at January 1, 2014 - $ - Issued 23,000 $ 14.57 Exercised - $ - Forfeited - $ - Options outstanding at December 31, 2014 23,000 $ 14.57 9.0 $ - Options exercisable at: January 1, 2014 - $ - $ - December 31, 2014 - $ - - $ - Unvested options at December 31, 2014 23,000 $ 14.57 9.0 $ - Options outstanding at January 1, 2015 23,000 $ 14.57 Issued 30,000 $ 13.74 Exercised (600 ) $ 14.57 Forfeited (800 ) $ 14.57 Options outstanding at December 31, 2015 51,600 $ 14.08 8.6 $ - Options exercisable at: January 1, 2015 - $ - $ - December 31, 2015 4,000 $ 14.57 8.0 $ - Unvested options at December 31, 2015 47,600 $ 14.04 8.6 $ -

12. SUPPLEMENTAL CASH FLOW IN30

12. SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information Related Text	Years Ended December 31, 2015 2014 2013 Interest paid $ 724,651 $ 856,578 $ 683,475 Federal, state and local income taxes paid - net of refunds $ 5,568,581 $ 972,645 $ 3,248,181 Capitalized interest $ - $ - $ - Fixed asset purchases in accounts payable $ 92,903 $ 85,488 $ 459,941

13. SEGMENT INFORMATION (Tables

13. SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Years Ended December 31, 2015 2014 2013 NET SALES: Wholesale $ 206,072,657 $ 233,898,250 $ 192,901,438 Retail 45,808,705 44,347,775 43,092,829 Military 17,420,661 7,996,144 8,876,464 Total Net Sales $ 269,302,023 $ 286,242,169 $ 244,870,731 GROSS MARGIN: Wholesale $ 65,979,792 $ 75,840,977 $ 62,420,052 Retail 20,621,884 19,449,609 19,856,441 Military 2,290,163 1,070,139 1,265,958 Total Gross Margin $ 88,891,839 $ 96,360,725 $ 83,542,451
Schedule of Product Information [Table Text Block]	2015 % of 2014 % of 2013 % of Work footwear $ 120,422,188 44.7 % $ 131,510,217 45.9 % $ 123,131,787 50.3 % Western footwear 43,435,734 16.1 % 45,475,880 15.9 % 36,998,504 15.1 % Duty and commercial military footwear 33,341,424 12.4 % 38,174,738 13.3 % 33,517,114 13.7 % Lifestyle footwear 23,370,822 8.7 % 25,823,220 9.0 % 10,599,879 4.3 % Outdoor footwear 20,688,005 7.7 % 24,606,151 8.6 % 20,194,524 8.2 % Military footwear 17,420,661 6.5 % 7,996,144 2.8 % 8,876,464 3.6 % Apparel 5,662,277 2.1 % 7,471,005 2.6 % 6,676,075 2.7 % Other 4,155,137 1.5 % 4,100,128 1.4 % 4,454,968 1.8 % Royalty income 805,775 0.3 % 1,084,686 0.4 % 421,416 0.2 % $ 269,302,023 100 % $ 286,242,169 100 % $ 244,870,731 100 %

14. QUARTERLY RESULTS OF OPER32

14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information [Table Text Block]	1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Year 2015 Net sales $ 65,451,303 $ 68,583,196 $ 70,001,496 $ 65,266,028 $ 269,302,023 Gross margin 21,971,310 22,648,633 22,117,477 22,154,419 88,891,839 Net income 1,413,947 2,002,673 1,803,667 1,382,870 6,603,157 Dividends paid 755,953 831,827 832,073 832,401 3,252,254 Net income per common share: Basic $ 0.19 $ 0.26 $ 0.24 $ 0.18 $ 0.87 Diluted $ 0.19 $ 0.26 $ 0.24 $ 0.18 $ 0.87 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Year 2014 Net sales $ 65,783,284 $ 68,822,520 $ 72,729,678 $ 78,906,687 $ 286,242,169 Gross margin 21,853,149 22,585,662 24,273,792 27,648,122 96,360,725 Net income 723,788 1,511,461 3,138,507 4,471,542 9,845,298 Dividends paid 753,981 754,321 754,665 755,012 3,017,979 Net income per common share: Basic $ 0.10 $ 0.20 $ 0.42 $ 0.59 $ 1.30 Diluted $ 0.10 $ 0.20 $ 0.42 $ 0.59 $ 1.30

15. ACQUISITION OF CREATIVE R33

15. ACQUISITION OF CREATIVE RECREATION (Tables)	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Investment banker fees $ 503,072 Professional fees 187,585 Valuation services 37,561 Stock compensation expense 290,800 Freight and warehousing expenses 86,726 Travel Expenses 66,303 Total acquisition related expenses $ 1,172,047
Schedule of Purchase Price Allocation [Table Text Block] (Deprecated 2013-01-31)	Purchase Price $ 2,229,000 Preliminary Allocation of Purchase Price Accounts receivable (1,081,764 ) Inventories (1,162,360 ) Prepaid expenses and deposits (82,339 ) Property and equipment (698,355 ) Trademarks (5,100,000 ) Customer relationships (1,200,000 ) Total assets acquired (9,324,818 ) Accounts payable 6,493,843 Net gain on purchase $ (601,975 )

1. SUMMARY OF SIGNIFICANT ACC34

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Allowance for Doubtful Accounts Receivable	$ 820,000	$ 1,002,000
Advertising Expense	9,869,000	8,623,000	$ 8,038,000
Shipping, Handling and Transportation Costs	$ 8,500,000	$ 9,254,000	$ 8,294,000

1. SUMMARY OF SIGNIFICANT ACCO

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Per Share Information - Basic net income per common share is computed based on the weighted average - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Per Share Information - Basic net income per common share is computed based on the weighted average [Abstract]
Basic - weighted average shares outstanding	7,563,205	7,544,936	7,517,364
Dilutive restricted share units	9,987	2,845
Dilutive stock options	980
Diluted - weighted average shares outstanding	7,574,172	7,547,781	7,517,364
Anti-Dilutive securities - stock options	84,210	43,029	8,630

2. INVENTORIES (Details) - Inv

2. INVENTORIES (Details) - Inventory Detail - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Inventory Detail [Abstract]
Raw materials	$ 12,494,980	$ 11,702,762
Work-in-process	1,155,837	577,127
Finished goods	63,340,242	72,957,153
Total	$ 76,991,059	$ 85,237,042

3. IDENTIFIED INTANGIBLE ASSE37

3. IDENTIFIED INTANGIBLE ASSETS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure Text Block [Abstract]
Amortization of Intangible Assets	$ 135,000	$ 135,000	$ 60,000
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 121,000

3. IDENTIFIED INTANGIBLE ASSET

3. IDENTIFIED INTANGIBLE ASSETS (Details) - Intangible Assets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Wholesale (Member)
Trademarks
Indefinite Lived Intangible Assets	$ 32,343,578	$ 32,343,578
Retail (Member)
Trademarks
Indefinite Lived Intangible Assets	2,900,000	2,900,000
Carrying Amount (Member) | Wholesale (Member)
Trademarks
Indefinite Lived Intangible Assets	32,343,578	32,343,578
Carrying Amount (Member) | Retail (Member)
Trademarks
Indefinite Lived Intangible Assets	2,900,000	2,900,000
Patents [Member]
Trademarks
Finite Lived Intangible Assets	2,595,477	2,594,301
Patents [Member] | Accumulated Amortization
Trademarks
Finite Lived Intangible Assets	2,324,515	2,269,569
Patents [Member] | Carrying Amount (Member)
Trademarks
Finite Lived Intangible Assets	270,962	324,732
Customer Relationships [Member]
Trademarks
Finite Lived Intangible Assets	2,200,000	2,200,000
Total Identified Intangibles	40,039,055	40,037,879
Customer Relationships [Member] | Accumulated Amortization
Trademarks
Finite Lived Intangible Assets	1,166,667	1,086,666
Total Identified Intangibles	3,491,182	3,356,235
Customer Relationships [Member] | Carrying Amount (Member)
Trademarks
Finite Lived Intangible Assets	1,033,333	1,113,334
Total Identified Intangibles	$ 36,547,873	$ 36,681,644

4. OTHER ASSETS (Details) - Ot

4. OTHER ASSETS (Details) - Other Assets Detail - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Other Assets Detail [Abstract]
Deferred financing costs, net	$ 120,403	$ 151,144
Other	138,409	148,346
Total	$ 258,812	$ 299,490

5. FIXED ASSETS (Details)

5. FIXED ASSETS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Depreciation	$ 7,053,000	$ 6,807,000	$ 6,204,000

5. FIXED ASSETS (Details) - Fi

5. FIXED ASSETS (Details) - Fixed Asset Detail - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fixed Asset Detail [Abstract]
Land	$ 671,035	$ 671,035
Buildings	19,247,770	19,027,998
Machinery and equipment	40,611,815	39,206,408
Furniture and fixtures	2,722,751	2,491,295
Lasts, dies and patterns	13,811,676	12,131,234
Construction work-in-progress	3,161,533	281,198
Total	80,226,580	73,809,168
Less - accumulated depreciation	(52,390,053)	(47,544,527)
Net Fixed Assets	$ 27,836,527	$ 26,264,641

6. LONG-TERM DEBT (Details)

6. LONG-TERM DEBT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 75,000,000		$ 70,000,000
Line of Credit Facility, Interest Rate During Period	0.25%
Line of Credit Facility, Interest Rate at Period End	1.25%
Libor_Loan	$ 17,000,000	$ 35,000,000
Line of Credit Facility, Amount Outstanding	23,700,000
Line of Credit Facility, Current Borrowing Capacity	66,300,000
Dividends, Common Stock	$ 3,252,254	$ 3,017,979	$ 2,254,935

7. OPERATING LEASES (Details)

7. OPERATING LEASES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Leases, Operating [Abstract]
Operating Leases, Rent Expense, Net	$ 1,335,000	$ 1,324,000	$ 840,000

7. OPERATING LEASES (Details)

7. OPERATING LEASES (Details) - Future minimum lease payments - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Future minimum lease payments [Abstract]
2,016				$ 1,205,000
2,017			$ 1,129,000
2,018		$ 620,000
2,019	$ 110,143
Total	$ 3,064,143

8. RETIREMENT PLANS (Details)

8. RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Cost Recognized	$ 1	$ 1	$ 0.9

9. INCOME TAXES (Details)

9. INCOME TAXES (Details)	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Undistributed Earnings of Domestic Subsidiaries	$ 3,684,000
Taxes Payable	379,000
Undistributed Earnings of Foreign Subsidiaries	18,323,000
Liability for Uncertain Tax Positions, Noncurrent	$ 6,413,000

9. INCOME TAXES (Details) - In

9. INCOME TAXES (Details) - Income Tax Expense - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal:
Current	$ 2,656,870	$ 3,656,356	$ 2,540,701
Deferred	287,755	848,666	778,213
Total Federal	2,944,625	4,505,022	3,318,914
State & local:
Current	81,433	203,144	109,254
Deferred	86,863	140,552	(29,619)
Total State & local	168,296	343,696	79,635
Foreign
Current	13,391	46,911	42,450
Deferred	(41,969)	255	1,769
Total Foreign	(28,578)	47,166	44,219
Total	$ 3,084,343	$ 4,895,884	$ 3,442,768

9. INCOME TAXES (Details) - Fe

9. INCOME TAXES (Details) - Federal income tax expense reconciliation to statutory rate - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal income tax expense reconciliation to statutory rate [Abstract]
Expected expense at statutory rate	$ 3,404,159	$ 5,147,234	$ 3,775,418
Increase (decrease) in income taxes resulting from:
Exempt income from Dominican Republic operations due to tax holiday	(2,816,963)	(3,477,301)	(1,871,847)
Tax on repatriated earnings from Dominican Republic operations	2,556,940	3,090,036	1,592,238
Impact of Canadian deemed dividend		12,703	9,712
State and local income taxes	67,886	284,838	45,948
Section 199 manufacturing deduction	(194,498)	(135,690)	(51,396)
Meals and entertainment	98,082	91,475	76,465
Nondeductible penalties	5,998	1,563	1,500
Provision to return filing adjustments and other	(37,261)	(118,974)	(135,270)
Total	$ 3,084,343	$ 4,895,884	$ 3,442,768

9. INCOME TAXES (Details) - De

9. INCOME TAXES (Details) - Deferred income taxes - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Asset valuation allowances and accrued expenses	$ 510,798	$ 776,416
Inventories	563,815	705,028
State and local income taxes	425,179	394,776
Pension and deferred compensation	72,004	80,969
Net operating losses	650,620	575,702
Total deferred tax assets	2,222,416	2,532,891
Valuation allowances	(569,459)	(569,881)
Total deferred tax assets	1,652,957	1,963,010
Deferred tax liabilities:
Fixed assets	(1,655,838)	(1,736,042)
Intangible assets	(11,185,988)	(11,001,289)
Other assets	(400,651)	(482,549)
Tollgate tax on Lifestyle earnings	(379,271)	(379,271)
Total deferred tax liabilities	(13,621,748)	(13,599,151)
Net deferred tax liability	(11,968,791)	(11,636,141)
Deferred income taxes - current	1,031,818	1,291,907
Deferred income taxes - non-current	$ (13,000,609)	$ (12,928,048)

11. CAPITAL STOCK AND STOCK B50

11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - USD ($)	1 Months Ended			12 Months Ended
	Aug. 31, 2015	Jan. 31, 2015	Jan. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Aug. 06, 2015	Jan. 02, 2015
Policy Text Block [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				500,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options				394,291
Stock Issued During Period, Shares, Restricted Stock Award, Gross	2,000			28,000	23,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Discount for Postvesting Restrictions				25.00%	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share)					$ 14.57	$ 18.15	$ 13.42
Restricted Stock or Unit Expense (in Dollars)				$ 183,150	$ 83,778
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures	2,000			32,000	23,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	2,000	28,000	23,000	30,000	23,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	20.00%	20.00%	20.00%
Option Indexed to Issuer's Equity, Strike Price (in Dollars per share)	$ 18.15	$ 13.42	$ 14.57
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value (in Dollars per share)	$ 5.95	$ 4.70	$ 5.94
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	40.32%	46.20%	52.04%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.98%	1.92%	2.41%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.46%	2.99%	2.75%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	3.80%	3.80%	3.80%
Allocated Share-based Compensation Expense (in Dollars)				$ 54,828	$ 27,324
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value (in Dollars)					$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars)				$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				800
Stock Granted, Value, Share-based Compensation, Forfeited (in Dollars)				$ 4,752
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares				4,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars)				$ 23,760
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares				47,600	23,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)				$ 248,004	$ 136,620
Stock Issued During Period, Shares, Share-based Compensation, Gross				10,793
Stock Granted, Value, Share-based Compensation, Net of Forfeitures (in Dollars)				$ 175,000
Preferred Stock, Shares Authorized				250,000
Preferred Units, Authorized				250,000
Convertible Preferred Stock, Shares Reserved for Future Issuance				125,000

11. CAPITAL STOCK AND STOCK BA

11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Future Stock Compensation Expense - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2019
Future Stock Compensation Expense [Abstract]
Future Stock Compensation Expense	$ 23,174	$ 132,463	$ 206,246	$ 215,585
Total					$ 577,468

11. CAPITAL STOCK AND STOCK 52

11. CAPITAL STOCK AND STOCK BASED COMPENSATION (Details) - Stock Options - $ / shares	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jan. 02, 2015
Stock Options [Abstract]
Stock Options Outstanding	51,600	23,000	51,600	23,000	23,000
Weighted Average Price of Options Outstanding	$ 14.08	$ 14.57	$ 14.08	$ 14.57	$ 14.57
Remaining Life of Options Outstanding	8 years 219 days	9 years
Stock Options Issued			30,000	23,000
Weighted Average Price of Options Issued			$ 13.74	$ 14.57
Stock Options Exercised			(600)
Weighted Average Price of Options Exercised			$ 14.57
Stock Options Forfeited			(800)
Weighted Average Price of Options Forfeited			$ 14.57
Options exercisable at:
Options Exercisable	4,000		4,000
Weighted Average Price of Options Exercisable	$ 14.57		$ 14.57
Remaining Life of Options Exercisable	8 years
Options outstanding and unvested	47,600	23,000	47,600	23,000
Weighted Average Price of Options Unvested	$ 14.04	$ 14.57	$ 14.04	$ 14.57
Remaining Life of Options Unvested	8 years 219 days	9 years

12. SUPPLEMENTAL CASH FLOW INF

12. SUPPLEMENTAL CASH FLOW INFORMATION (Details) - Supplemental cash flow information - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]
Interest paid	$ 724,651	$ 856,578	$ 683,475
Federal, state and local income taxes paid - net of refunds	5,568,581	972,645	3,248,181
Fixed asset purchases in accounts payable	$ 92,903	$ 85,488	$ 459,941

13. SEGMENT INFORMATION (Detail

13. SEGMENT INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting [Abstract]
Government Contract Minimum Purchase (in Dollars)	$ 3
Government Contract Maximum Revenue (in Dollars)	$ 15
Foreign Sales Percentage	4.80%	6.30%	2.90%

13. SEGMENT INFORMATION (Detai

13. SEGMENT INFORMATION (Details) - Segment Table - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
NET SALES:
Total Net Sales	$ 269,302,023	$ 286,242,169	$ 244,870,731
GROSS MARGIN:
Total Gross Margin	88,891,839	96,360,725	83,542,451
Wholesale (Member)
GROSS MARGIN:
Gross Margin	65,979,792	75,840,977	62,420,052
Retail (Member)
GROSS MARGIN:
Gross Margin	20,621,884	19,449,609	19,856,441
Military (Member)
GROSS MARGIN:
Gross Margin	2,290,163	1,070,139	1,265,958
Wholesale (Member)
NET SALES:
Net Sales	206,072,657	233,898,250	192,901,438
Retail (Member)
NET SALES:
Net Sales	45,808,705	44,347,775	43,092,829
Military (Member)
NET SALES:
Net Sales	$ 17,420,661	$ 7,996,144	$ 8,876,464

13. SEGMENT INFORMATION (Det56

13. SEGMENT INFORMATION (Details) - Product Group Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Product Information [Line Items]
Product Categories	$ 269,302,023	$ 286,242,169	$ 244,870,731
Product Percentage of Sales	100.00%	100.00%	100.00%
Work (Member)
Product Information [Line Items]
Product Categories	$ 120,422,188	$ 131,510,217	$ 123,131,787
Product Percentage of Sales	44.70%	45.90%	50.30%
Western (Member0
Product Information [Line Items]
Product Categories	$ 43,435,734	$ 45,475,880	$ 36,998,504
Product Percentage of Sales	16.10%	15.90%	15.10%
CommercialMilitary (Member)
Product Information [Line Items]
Product Categories	$ 33,341,424	$ 38,174,738	$ 33,517,114
Product Percentage of Sales	12.40%	13.30%	13.70%
Lifestyle (Member)
Product Information [Line Items]
Product Categories	$ 23,370,822	$ 25,823,220	$ 10,599,879
Product Percentage of Sales	8.70%	9.00%	4.30%
Outdoor (Member)
Product Information [Line Items]
Product Categories	$ 20,688,005	$ 24,606,151	$ 20,194,524
Product Percentage of Sales	7.70%	8.60%	8.20%
Military (Member)
Product Information [Line Items]
Product Categories	$ 17,420,661	$ 7,996,144	$ 8,876,464
Product Percentage of Sales	6.50%	2.80%	3.60%
Apparel (Member)
Product Information [Line Items]
Product Categories	$ 5,662,277	$ 7,471,005	$ 6,676,075
Product Percentage of Sales	2.10%	2.60%	2.70%
Other Products (Member)
Product Information [Line Items]
Product Categories	$ 4,155,137	$ 4,100,128	$ 4,454,968
Product Percentage of Sales	1.50%	1.40%	1.80%
Royalty Income
Product Information [Line Items]
Product Categories	$ 805,775	$ 1,084,686	$ 421,416
Product Percentage of Sales	0.30%	0.40%	0.20%

14. QUARTERLY RESULTS OF OPERA

14. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - Unaudited Quarterly Results - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
2,015
Net sales	$ 65,266,028	$ 70,001,496	$ 68,583,196	$ 65,451,303	$ 78,906,687	$ 72,729,678	$ 68,822,520	$ 65,783,284	$ 269,302,023	$ 286,242,169	$ 244,870,731
Gross margin	22,154,419	22,117,477	22,648,633	21,971,310	27,648,122	24,273,792	22,585,662	21,853,149	88,891,839	96,360,725	83,542,451
Net income	1,382,870	1,803,667	2,002,673	1,413,947	4,471,542	3,138,507	1,511,461	723,788	6,603,157	9,845,298	$ 7,372,756
Dividends paid	$ 832,401	$ 832,073	$ 831,827	$ 755,953	$ 755,012	$ 754,665	$ 754,321	$ 753,981	$ 3,252,254	$ 3,017,979
Net income per common share:
Basic (in Dollars per share)	$ 0.18	$ 0.24	$ 0.26	$ 0.19	$ 0.59	$ 0.42	$ 0.20	$ 0.10	$ 0.87	$ 1.30	$ 0.98
Diluted (in Dollars per share)	$ 0.18	$ 0.24	$ 0.26	$ 0.19	$ 0.59	$ 0.42	$ 0.20	$ 0.10	$ 0.87	$ 1.30	$ 0.98

15. ACQUISITION OF CREATIVE R58

15. ACQUISITION OF CREATIVE RECREATION (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Combinations [Abstract]
Business Combination, Consideration Transferred, Other	$ 8,722,843			$ 8,722,843
Operating Expenses	$ 172,418	$ 78,402,079	$ 80,597,934	72,523,735
Business Combination, Acquisition Related Costs				$ 1,172,047
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 13,600,000	$ 16,100,000

15. ACQUISITION OF CREATIVE RE

15. ACQUISITION OF CREATIVE RECREATION (Details) - Acquisition Related Expenses	12 Months Ended
	Dec. 31, 2013USD ($)
Acquisition Related Expenses [Abstract]
Investment banker fees	$ 503,072
Professional fees	187,585
Valuation services	37,561
Stock compensation expense	290,800
Freight and warehousing expenses	86,726
Travel Expenses	66,303
Total acquisition related expenses	$ 1,172,047

15. ACQUISITION OF CREATIVE 60

15. ACQUISITION OF CREATIVE RECREATION (Details) - Purchase Price Allocation	12 Months Ended
	Dec. 31, 2013USD ($)
Purchase Price Allocation [Abstract]
Purchase Price	$ 2,229,000
Preliminary Allocation of Purchase Price
Accounts receivable	(1,081,764)
Inventories	(1,162,360)
Prepaid expenses and deposits	(82,339)
Property and equipment	(698,355)
Trademarks	(5,100,000)
Customer relationships	(1,200,000)
Total assets acquired	(9,324,818)
Accounts payable	6,493,843
Net gain on purchase	$ (601,975)