Tandy Leather Factory (TLF) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 10, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'TANDY LEATHER FACTORY INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	10,198,733
Amendment Flag	'false	'
Entity Central Index Key	'0000909724	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:	'	'
Cash	$6,289,550	$7,705,182
Accounts receivable-trade, net of allowance for doubtful accounts of approximately $30,000 and $112,000 in 2013 and 2012, respectively	945,725	822,772
Inventory	29,492,488	25,862,784
Prepaid income taxes	6,106	'
Deferred income taxes	340,426	349,478
Prepaid expenses	1,845,862	776,463
Other current assets	429,522	153,450
Total current assets	39,349,679	35,670,129
PROPERTY AND EQUIPMENT, at cost	19,042,844	17,574,895
Less accumulated depreciation and amortization	-5,645,113	-5,630,305
	13,397,731	11,944,590
GOODWILL	986,153	990,725
OTHER INTANGIBLES, net of accumulated amortization of $612,000 and $582,000 in 2013 and 2012, respectively	114,643	145,533
Other assets	337,115	336,695
	54,185,321	49,087,672
CURRENT LIABILITIES:	'	'
Accounts payable-trade	2,299,450	1,612,627
Accrued expenses and other liabilities	5,913,564	5,928,798
Income taxes payable	'	113,705
Current maturities of long-term debt	202,500	202,500
Total current liabilities	8,415,514	7,857,630
DEFERRED INCOME TAXES	987,617	806,525
LONG-TERM DEBT, net of current maturities	2,446,875	2,902,500
STOCKHOLDERS' EQUITY:	'	'
Preferred stock, $0.10 par value; 20,000,000 shares authorized; none issued or outstanding; attributes to be determined on issuance	0	0
Common stock, $0.0024 par value; 25,000,000 shares authorized; 11,192,356 and 11,156,065 shares issued at 2013 and 2012, respectively; 10,198,733 and 10,162,442 shares outstanding at 2013 and 2012, respectively	26,862	26,775
Paid-in capital	5,892,907	5,767,508
Retained earnings	39,019,381	34,241,875
Treasury stock at cost (993,623 shares at 2013 and 2012)	-2,894,068	-2,894,068
Accumulated other comprehensive income	290,233	378,927
Total stockholders' equity	42,335,315	37,521,017
	$54,185,321	$49,087,672

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Accounts receivable-trade, net allowance for doubtful accounts (in Dollars)	$30,000	$112,000
OTHER INTANGIBLES, net of accumulated amortization (in Dollars)	$612,000	$582,000
Preferred stock par value (in Dollars per share)	$0.10	$0.10
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	11,192,356	11,156,065
Common stock, shares outstanding	10,198,733	10,162,442
Treasury stock shares	993,623	993,623

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
NET SALES	$18,524,604	$17,000,728	$56,735,444	$52,082,061
COST OF SALES	6,823,661	6,595,958	21,183,551	19,371,456
Gross profit	11,700,943	10,404,770	35,551,893	32,710,605
OPERATING EXPENSES	9,295,590	9,759,914	28,179,616	27,046,801
INCOME FROM OPERATIONS	2,405,353	644,856	7,372,277	5,663,804
OTHER INCOME (EXPENSE):	'	'	'	'
Interest expense	-51,021	-59,623	-158,659	-176,251
Other, net	13,777	-2,787	138,800	59,786
Total other income (expense)	-37,244	-62,410	-19,859	-116,465
INCOME BEFORE INCOME TAXES	2,368,109	582,446	7,352,418	5,547,339
PROVISION FOR INCOME TAXES	806,277	301,676	2,574,912	2,152,825
NET INCOME	$1,561,832	$280,770	$4,777,506	$3,394,514
NET INCOME PER COMMON SHARE:	'	'	'	'
Basic (in Dollars per share)	$0.15	$0.03	$0.47	$0.33
Diluted (in Dollars per share)	$0.15	$0.03	$0.47	$0.33
Weighted Average Number of Shares Outstanding:	'	'	'	'
Basic (in Shares)	10,176,744	10,156,790	10,163,490	10,156,559
Diluted (in Shares)	10,221,512	10,177,466	10,205,348	10,179,569

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
NET INCOME	$1,561,832	$280,770	$4,777,506	$3,394,514
Foreign currency translation adjustments	272,799	174,633	-88,694	74,266
COMPREHENSIVE INCOME	$1,834,631	$455,403	$4,688,812	$3,468,780

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$4,777,506	$3,394,514
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	889,395	794,122
Loss on disposal or abandonment of assets	89,531	16,977
Non-cash stock-based compensation	11,686	10,000
Deferred income taxes	190,144	-180,237
Other	-70,330	63,559
Net changes in assets and liabilities, net of effect of business acquisitions:	-122,953	253,702
Inventory	-3,629,704	-9,754,553
Income taxes	-119,811	-1,183,816
Prepaid expenses	-1,069,399	1,624,011
Other current assets	-276,072	-1,765,227
Accounts payable-trade	686,823	929,847
Accrued expenses and other liabilities	-15,234	1,097,165
Total adjustments	-3,435,924	-8,094,450
Net cash provided by (used in) operating activities	1,341,582	-4,699,936
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Purchase of property and equipment	-2,415,484	-1,294,050
Proceeds from sale or maturities of certificates of deposit	'	423,893
Proceeds from sale of assets	515	1,150
Decrease (increase) in other assets	-420	6,675
Net cash used in investing activities	-2,415,389	-862,332
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from notes payable and long-term debt	'	1,000,000
Payments on notes payable and long-term debt	-455,625	-151,875
Proceeds from issuance of common stock	113,800	5,440
Payment of cash dividend	'	-2,536,131
Net cash used in financing activities	-341,825	-1,682,566
NET CHANGE IN CASH	-1,415,632	-7,244,834
CASH, beginning of period	7,705,182	10,765,591
CASH, end of period	6,289,550	3,520,757
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:	'	'
Interest paid during the period	158,659	176,251
Income tax paid during the period, net of (refunds)	$2,507,842	$3,524,962

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2011	$26,760	$5,736,543	($2,894,068)	$31,181,936	$382,630	$34,433,801
Balance, shares (in Shares) at Dec. 31, 2011	10,156,422	'	'	'	'	'
Shares issued – stock options exercised	5	5,435	'	'	'	5,440
Shares issued – stock options exercised, shares (in Shares)	2,000	'	'	'	'	'
Stock-based compensation	'	10,000	'	'	'	10,000
Cash dividend	'	'	'	-2,536,131	'	-2,536,131
Net income	'	'	'	3,394,514	'	3,394,514
Translation adjustment	'	'	'	'	74,266	74,266
Balance at Sep. 30, 2012	26,765	5,751,978	-2,894,068	32,040,319	456,896	35,381,890
Balance, shares (in Shares) at Sep. 30, 2012	10,158,422	'	'	'	'	'
Balance at Dec. 31, 2012	26,775	5,767,508	-2,894,068	34,241,875	378,927	37,521,017
Balance, shares (in Shares) at Dec. 31, 2012	10,162,442	'	'	'	'	11,156,065
Shares issued – stock options exercised	87	113,713	'	'	'	113,800
Shares issued – stock options exercised, shares (in Shares)	36,291	'	'	'	'	'
Stock-based compensation	'	11,686	'	'	'	11,686
Net income	'	'	'	4,777,506	'	4,777,506
Translation adjustment	'	'	'	'	-88,694	-88,694
Balance at Sep. 30, 2013	$26,862	$5,892,907	($2,894,068)	$39,019,381	$290,233	$42,335,315
Balance, shares (in Shares) at Sep. 30, 2013	10,198,733	'	'	'	'	11,192,356

Note_1_Basis_of_Presentation_a

Note 1 - Basis of Presentation and Certain Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	1.           BASIS OF PRESENTATION AND CERTAIN SIGNIFICANT ACCOUNTING POLICIES
	In the opinion of management, the accompanying consolidated financial statements for Tandy Leather Factory, Inc. and its consolidated subsidiaries contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly its financial position as of September 30, 2013 and December 31, 2012, and its results of operations and cash flows for the three and/or nine-month periods ended September 30, 2013 and 2012. Operating results for the three and nine-month periods ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2012.
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
	Inventory. Inventory is stated at the lower of cost or market and is accounted for on the “first in, first out” method. Based on negotiations with vendors, title generally passes to us when merchandise is put on board. Merchandise to which we have title but which we have not yet received is recorded as inventory in transit. In addition, the value of inventory is periodically reduced for slow-moving or obsolete inventory based on management's review of items on hand compared to their estimated future demand.
	The components of inventory consist of the following:
		As of
		30-Sep-13			31-Dec-12
	Inventory on hand:
	Finished goods held for sale	$	27,213,820		$	24,039,846
	Raw materials and work in process		1,227,130			495,182
	Inventory in transit		1,051,538			1,327,756
		$	29,492,488		$	25,862,784
	Goodwill and Other Intangibles. Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. Goodwill is required to be evaluated for impairment on an annual basis, absent indicators of impairment during the interim. Application of the goodwill impairment test requires exercise of judgment, including the estimation of future cash flows, determination of appropriate discount rates and other important assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment for each reporting unit.
	A two-step process is used to test for goodwill impairment. The first phase screens for impairment, while the second phase (if necessary) measures the impairment. We have elected to perform the annual analysis during the fourth calendar quarter of each year. As of December 31, 2012, management determined that the present value of the discounted estimated future cash flows of the stores associated with the goodwill is sufficient to support their respective goodwill balances. No indicators of impairment were identified during the first three quarters of 2013. In accordance with recent guidance from the FASB, beginning in 2012, we are permitted to first assess qualitative factors in testing goodwill for impairment prior to performing a quantitative assessment.
	A summary of changes in our goodwill for the periods ended September 30, 2013 and 2012 is as follows:
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2011	$	603,603		$	383,406	$	987,009
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		5,018			-		5,018
	Impairments		-			-		-
	Balance, September 30, 2012	$	608,621		$	383,406	$	992,027
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2012	$	607,319		$	383,406	$	990,725
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(4,572	)		-		(4,572	)
	Impairments		-			-		-
	Balance, September 30, 2013	$	602,747		$	383,406	$	986,153
	Other intangibles consist of the following:
		As of September 30, 2013								As of December 31, 2012
		Gross			Accumulated		Net			Gross		Accumulated		Net
					Amortization							Amortization
	Trademarks, Copyrights	$	544,369		$	480,143	$	64,226		$	544,369	$	456,836	$	87,533
	Non-Compete Agreements		182,170			131,753		50,417			183,216		125,216		58,000
		$	726,539		$	611,896	$	114,643		$	727,585	$	582,052	$	145,533
	We recorded amortization expense of $30,890 during the first nine months of 2013 compared to $33,378 during the same period of 2012. All of our intangible assets are subject to amortization under U.S. GAAP. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the succeeding 5 years is as follows:
		Wholesale			Retail Leathercraft		Total
		Leathercraft
	2013	$	732		$	41,337	$	42,069
	2014		492			44,004		44,496
	2015		-			39,302		39,302
	2016		-			4,666		4,666
	2017		-			-		-
	Revenue Recognition. Our sales generally occur via two methods: (1) at the counter in our stores, and (2) shipment by common carrier. Sales at the counter are recorded and title passes as transactions occur. Otherwise, sales are recorded and title passes when the merchandise is shipped to the customer. Our shipping terms are FOB shipping point.
	We offer an unconditional satisfaction guarantee to our customers and accept all product returns. Net sales represent gross sales less negotiated price allowances, product returns, and allowances for defective merchandise.
	Comprehensive Income and Accumulated Other Comprehensive Income. Comprehensive income is defined as the change in equity during a period from transactions and other events and circumstances from non-stockholder sources and includes all changes in equity during a period except those resulting from investments by and dividends to stockholders. Our comprehensive income consists of our net income and foreign currency translation adjustments from our international operations.
	Recent Accounting Pronouncements.  In February 2013, FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The objective of ASU No. 2013-02 is to improve reporting by requiring entities to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the statement of operations. The amendments in ASU No. 2013-02 are required to be applied retrospectively and are effective for reporting periods beginning after December 15, 2012. The adoption of the standard did not have any impact on our consolidated financial statements.

Note_2_Notes_Payable_And_LongT

Note 2 - Notes Payable And Long-Term Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	2.           NOTES PAYABLE AND LONG-TERM DEBT
	On July 31, 2007, we entered into a Credit Agreement and Line of Credit Note with JPMorgan Chase Bank, N.A., pursuant to which the bank agreed to provide us with a credit facility of up to $5.5 million to facilitate our purchase of real estate consisting of a 191,000 square foot building situated on 30 acres of land located at 1900 SE Loop 820 in Fort Worth, Texas. Proceeds in the amount of $4,050,000 were used to fund the purchase of the property. On April 30, 2008, the principal balance was rolled into a 10-year term note with a 20-year amortization that accrues interest at a rate of 7.10% per annum.
	At September 30, 2013 and December 31, 2012, the amount outstanding under the above agreements consisted of the following:
		30-Sep-13			31-Dec-12
	Credit Agreement with JPMorgan Chase Bank – collateralized by real estate; payable as follows:
	Line of Credit Note dated July 31, 2007, converted to a 10-year term note on April 30, 2008; $16,875 monthly principal payments plus interest at 7.1% per annum; matures April 30, 2018	$	2,649,375		$	3,105,000
			2,649,375			3,105,000
	Less - Current maturities		(202,500	)		(202,500	)
		$	2,446,875		$	2,902,500
	On July 12, 2012, we executed a Line of Credit Note with JPMorgan Chase Bank, N.A., pursuant to which the bank agreed to provide us with a revolving credit facility of up to $4 million. The note was obtained for working capital purposes. The revolver bears interest at LIBOR plus 2% (2.25% at September 30, 2013) and was to mature on June 30, 2013. On June 25, 2013, we executed a Note Modification Agreement which extends the maturity date of the Line of Credit Note to June 30, 2014. All other terms remain unchanged. Interest is paid monthly. The unused amount at September 30, 2013 was $4 million.

Note_3_StockBased_Compensation

Note 3 - Stock-Based Compensation	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	3.           STOCK-BASED COMPENSATION
	We have one stock option plan which provides for annual stock option grants to non-employee directors with an exercise price equal to the fair market value of the shares at the date of grant. Under this plan, 12,000 options were awarded to directors in each of the first nine months of 2013 and 2012. These options vest and become exercisable six months from the option grant date. We had two other stock option plans from 1995 which provided for stock option grants to officers, key employees and non-employee directors. These plans expired in 2005. The expiration of the plans has no effect on the options previously granted. Options outstanding and exercisable were granted at a stock option price which was not less than the fair market value of our common stock as of closing on the date the option was granted and no option has a term in excess of ten years. No share based compensation expense was recognized in each of the quarters ended September 30, 2013 and 2012. Share based compensation expense of $11,686 and $10,000 was recognized for the nine month periods ended September 30, 2013 and 2012, respectively, as a component of operating expenses.
	During the nine months ended September 30, 2013 and 2012, the stock option activity under our stock option plans was as follows:
		Weighted		#			Weighted		Aggregate
		Average		of			Average		Intrinsic
		Exercise		shares			Remaining		Value
		Price					Contractual Term
							(in years)
	Outstanding, January 1, 2012	$	4.4		115,600
	Granted		5.27		12,000
	Cancelled		-		-
	Exercised		2.72		(2,000	)
	Outstanding, September 30, 2012	$	4.51		125,600			4.93	$	213,256
	Exercisable, September 30, 2012	$	4.51		125,600			4.93	$	213,256
	Outstanding, January 1, 2013	$	4.53		121,600
	Granted		6.87		12,000
	Cancelled		-		-
	Exercised		4.23		(49,000	)
	Outstanding, September 30, 2013	$	5.04		84,600			7.22	$	104,656
	Exercisable, September 30, 2013	$	5.04		84,600			7.22	$	104,656
	Other information pertaining to option activity during the nine-month periods ended September 30, 2013 and 2012 are as follows:
		30-Sep-13		30-Sep-12
	Weighted average grant-date fair value of stock options granted	$	0.97	$	0.83
	Total fair value of stock options vested	$	11,686	$	10,000
	Total intrinsic value of stock options exercised	$	113,790	$	3,077
	There was no unrecognized compensation cost as of September 30, 2013 and 2012.
	We have a restricted stock plan that was adopted by our Board of Directors in January 2013 and approved by our stockholders in June 2013. The plan reserves up to 300,000 shares of our common stock for restricted stock awards to our executive officers, non-employee directors and other key employees. Awards granted under the plan may be stock awards or performance awards, and may be subject to a graded vesting schedule with a minimum vesting period of four years. No awards have been made to date.

Note_4_Earnings_Per_Share

Note 4 - Earnings Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	4.           EARNINGS PER SHARE
	The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and nine months ended September 30, 2013 and 2012:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Numerator:
	Net income	$	1,561,832	$	280,770	$	4,777,506	$	3,394,514
	Numerator for basic and diluted earnings per share		1,561,832		280,770		4,777,506		3,394,514
	Denominator:
	Weighted-average shares outstanding-basic		10,176,744		10,156,790		10,163,490		10,156,559
	Effect of dilutive securities:
	Stock options		44,768		20,676		41,858		23,010
	Dilutive potential common shares		44,768		20,676		41,858		23,010
	Denominator for diluted earnings per share- weighted-average shares		10,221,512		10,177,466		10,205,348		10,179,569
	Basic earnings per share	$	0.15	$	0.03	$	0.47	$	0.33
	Diluted earnings per share	$	0.15	$	0.03	$	0.47	$	0.33
	The net effect of converting stock options to purchase 111,600 and 127,600 shares of common stock at exercise prices less than the average market prices has been included in the computations of diluted earnings per share for the quarter ended September 30, 2013 and 2012, respectively.

Note_5_Cash_Dividend

Note 5 - Cash Dividend	9 Months Ended
	Sep. 30, 2013
Cash Dividend [Abstract]	'
Cash Dividend [Text Block]	'
	5.           CASH DIVIDEND
	In February 2012, our Board of Directors authorized a $0.25 per share special one-time cash dividend that was paid to stockholders of record at the close of business on March 1, 2012. We released the funds used to pay for the special one-time cash dividend on March 29, 2012 and the dividend, totaling $2.5 million, was paid to stockholders on April 2, 2012. Our Board will determine future cash dividends after giving consideration to our then existing levels of profit and cash flow, capital requirements, current and forecasted liquidity, as well as financial and other business conditions existing at the time.

Note_6_Commitments_and_Conting

Note 6 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	6.           COMMITMENTS AND CONTINGENCIES
	Legal Proceedings. On March 16, 2011, two former employees of ours filed a lawsuit, entitled Mark Barnes and Jerry Mercante on behalf of themselves and all other similarly situated v. Tandy Leather Company, Inc., Tandy Leather Factory, and Does 1-50, in the US District Court for the District of Nevada. The lawsuit was subsequently amended on May 9, 2011 to add another former employee, Donna Cavota, as a third named plaintiff. The suit alleges that we violated requirements of the Fair Labor Standards Act (FLSA) as well as various state wage laws. Plaintiffs seek to represent themselves and all similarly situated U.S. current and former store managers of ours. A Settlement Agreement was reached between the parties, and on September 24, 2012, the United States District Court, Northern District of Texas, Fort Worth Division (“Court”) issued an Order Preliminarily Approving the Settlement of all federal and state claims asserted by the plaintiffs in the litigation. We continue to deny any violation of any statute, law, rule or regulation, any liability or wrongdoing, and the truth of any or all of the plaintiffs’ allegations. We agreed to enter into the Settlement Agreement to avoid further expense and inconvenience, end the disruption and burden of the litigation, avoid any other present or future litigation arising out of the facts that gave rise to the litigation, avoid the risk inherent in uncertain complex litigation, and to put to rest the controversy set forth in the plaintiff’s litigation.
	The Settlement Agreement preliminarily approved by the Court required us to establish a fund designated as a Qualified Settlement Fund (Escrow Account) in the amount of $993,386 to fund (1) settlement payments to the plaintiffs, (2) settlement payments to the other members of the settlement class who join the case, (3) plaintiffs’ attorneys’ fees and expenses, and (4) and the claim administrator (Escrow Agent’s) fees and expenses.   The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Settlement Agreement which was attached as Exhibit 10.1 to a Current Report on Form 8-K, as filed with the Securities and Exchange Commission on October 1, 2012.
	The deadline established by the Court for any existing or former persons employed by us as store managers between November 23, 2008 and September 24, 2012 to join the lawsuit as a class member expired on May 24, 2013. On June 28, 2013, the Court issued two orders: (1) an Order Approving Class and Collective Action Settlement and Dismissing Case with Prejudice, and (2) a Final Judgment, Approving Class and Collective Action Settlement and Dismissing Case with Prejudice. Pursuant to the Court’s June 28, 2013 Orders, the claims administrator (Escrow Agent) is required to make payments to those existing and former store managers and the plaintiffs who joined the lawsuit by signing and returning Consent to Join Forms, which contained a release of us from the claims asserted in plaintiffs’ lawsuit. The settlement payments to the class members and the plaintiffs will be made from the Escrow Account pursuant to the formula set forth in the Settlement Agreement, as well as the payment of the plaintiffs’ attorney’s fees and the fees and expenses of the claims administrator (Escrow Agent). The total payment from the Escrow Account, to include our required FICA payments based on the settlement payments, is expected to be $680,867 from the total Escrow Account of $993,385. After all payments have been made from the Escrow Account, the claims administrator (Escrow Agent) will terminate the Escrow Account within 120 days from the date the settlement checks have been mailed, and the balance of the Escrow Account (approximately $312,000) is expected to be returned to us before year end 2013.
	In connection with the settlement, we recorded a charge to operations of $993,386 during the quarter ended September 30, 2012 as this amount, as ordered by the Court, covered the full settlement of all claims of opt in claimants, class counsels’ attorneys’ fees, and class administration costs in accordance with the terms of the agreement. In the quarter ended June 30, 2013, we recorded a benefit of approximately $312,000, which is the expected remaining balance in the Escrow Account after all payments have been made.
	We are periodically involved in various other litigation matters that arise in the ordinary course of our business and operations. There are no such matters pending that we expect will have a material impact on our financial position and operating results. Legal costs associated with the resolution of claims, lawsuits and other contingencies are expensed as incurred.

Note_7_Segment_Information

Note 7 - Segment Information	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	7.           SEGMENT INFORMATION
	We identify our segments based on the activities of three distinct operations:
		a.	Wholesale Leathercraft, which consists of a chain of wholesale stores operating under the name, The Leather Factory, located in North America;
		b.	Retail Leathercraft, which consists of a chain of retail stores operating under the name, Tandy Leather Company, located in the North America; and
		c.	International Leathercraft, which sells to both wholesale and retail customers. We have three stores operating in this segment: one in Northampton, United Kingdom which opened in February 2008, one in Sydney, Australia which opened in October 2011, and one in Jerez, Spain, which opened in January 2012. These stores carry the same products as our North American stores.
	Our reportable operating segments have been determined as separately identifiable business units, and we measure segment earnings as operating earnings, defined as income before interest and income taxes.
			Wholesale Leathercraft			Retail		Int’l			Total
						Leathercraft		Leathercraft
	For the quarter ended September 30, 2013
	Net sales		$	6,476,676		$	11,128,646	$	919,282		$	18,524,604
	Gross profit			4,358,097			6,752,739		590,107			11,700,943
	Operating earnings			956,721			1,351,062		97,570			2,405,353
	Interest expense			(51,021	)		-		-			(51,021	)
	Other income (expense), net			33,372			-		(19,595	)		13,777
	Income before income taxes			939,072			1,351,062		77,975			2,368,109
	Depreciation and amortization			241,864			71,496		13,325			326,685
	Fixed asset additions			290,087			162,697		-			452,784
	Total assets		$	40,445,814		$	11,150,004	$	2,589,503		$	54,185,321
	For the quarter ended September 30, 2012
	Net sales		$	6,242,602		$	9,947,911	$	810,215		$	17,000,728
	Gross profit			4,111,067			5,848,397		445,306			10,404,770
	Operating earnings			(297,897	)		987,704		(44,951	)		644,856
	Interest expense			(59,623	)		-		-			(59,623	)
	Other income (expense), net			15,926			-		(18,713	)		(2,787	)
	Income before income taxes			(341,594	)		987,704		(63,664	)		582,446
	Depreciation and amortization			205,991			50,650		13,428			270,069
	Fixed asset additions			779,676			107,234		3,529			890,439
	Total assets		$	35,690,494		$	10,719,659	$	2,242,963		$	48,653,116
			Wholesale Leathercraft			Retail Leathercraft		Int’l			Total
								Leathercraft
	For the nine months ended September 30, 2013
	Net sales		$	19,934,996		$	33,930,587	$	2,869,861		$	56,735,444
	Gross profit			13,171,368			20,584,324		1,796,201			35,551,893
	Operating earnings			2,853,219			4,243,006		276,052			7,372,277
	Interest expense			(158,659	)		-		-			(158,659	)
	Other income (expense), net			108,077			26		30,697			138,800
	Income before income taxes			2,802,637			4,243,032		306,749			7,352,418
	Depreciation and amortization			655,022			193,118		41,255			889,395
	Fixed asset additions			1,858,985			554,831		1,668			2,415,484
	Total assets		$	40,445,814		$	11,150,004	$	2,589,503		$	54,185,321
	For the nine months ended September 30, 2012
	Net sales		$	19,678,009		$	30,093,864	$	2,310,188		$	52,082,061
	Gross profit			12,914,740			18,365,729		1,430,136			32,710,605
	Operating earnings			2,038,267			3,655,932		(30,395	)		5,663,804
	Interest expense			(176,251	)		-		-			(176,251	)
	Other income (expense), net			44,275			13		15,498			59,786
	Income before income taxes			1,906,291			3,655,945		(14,897	)		5,547,339
	Depreciation and amortization			613,608			140,566		39,948			794,122
	Fixed asset additions			913,900			303,525		76,625			1,294,050
	Total assets		$	35,690,494		$	10,719,659	$	2,242,963		$	48,653,116
	Net sales for geographic areas were as follows for the three and nine months ended September 30, 2013 and 2012:
	Three months ended September 30,		2013			2012
	United States		$	15,466,317		$	14,221,642
	Canada			1,889,696			1,761,960
	All other countries			1,168,591			1,017,126
			$	18,524,604		$	17,000,728
	Nine months ended September 30,		2013			2012
	United States		$	47,404,281		$	43,861,288
	Canada			5,728,405			5,214,782
	All other countries			3,602,758			3,005,991
			$	56,735,444		$	52,082,061
	Geographic sales information is based on the location of the customer. No single foreign country, except for Canada, accounted for any material amount of our consolidated net sales for the three or nine-month periods ended September 30, 2013 and 2012. We do not have any significant long-lived assets outside of the United States.

Note_1_Basis_of_Presentation_a1

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		As of
		30-Sep-13			31-Dec-12
	Inventory on hand:
	Finished goods held for sale	$	27,213,820		$	24,039,846
	Raw materials and work in process		1,227,130			495,182
	Inventory in transit		1,051,538			1,327,756
		$	29,492,488		$	25,862,784
Schedule of Goodwill [Table Text Block]	'
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2011	$	603,603		$	383,406	$	987,009
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		5,018			-		5,018
	Impairments		-			-		-
	Balance, September 30, 2012	$	608,621		$	383,406	$	992,027
		Leather Factory			Tandy Leather		Total
	Balance, December 31, 2012	$	607,319		$	383,406	$	990,725
	Acquisitions and adjustments		-			-		-
	Foreign exchange gain/loss		(4,572	)		-		(4,572	)
	Impairments		-			-		-
	Balance, September 30, 2013	$	602,747		$	383,406	$	986,153
Schedule of Finite-Lived Intangible Assets [Table Text Block]	'
		As of September 30, 2013								As of December 31, 2012
		Gross			Accumulated		Net			Gross		Accumulated		Net
					Amortization							Amortization
	Trademarks, Copyrights	$	544,369		$	480,143	$	64,226		$	544,369	$	456,836	$	87,533
	Non-Compete Agreements		182,170			131,753		50,417			183,216		125,216		58,000
		$	726,539		$	611,896	$	114,643		$	727,585	$	582,052	$	145,533
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	'
		Wholesale			Retail Leathercraft		Total
		Leathercraft
	2013	$	732		$	41,337	$	42,069
	2014		492			44,004		44,496
	2015		-			39,302		39,302
	2016		-			4,666		4,666
	2017		-			-		-

Note_2_Notes_Payable_And_LongT1

Note 2 - Notes Payable And Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Schedule of Debt [Table Text Block]	'
		30-Sep-13			31-Dec-12
	Credit Agreement with JPMorgan Chase Bank – collateralized by real estate; payable as follows:
	Line of Credit Note dated July 31, 2007, converted to a 10-year term note on April 30, 2008; $16,875 monthly principal payments plus interest at 7.1% per annum; matures April 30, 2018	$	2,649,375		$	3,105,000
			2,649,375			3,105,000
	Less - Current maturities		(202,500	)		(202,500	)
		$	2,446,875		$	2,902,500

Note_3_StockBased_Compensation1

Note 3 - Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
		Weighted		#			Weighted		Aggregate
		Average		of			Average		Intrinsic
		Exercise		shares			Remaining		Value
		Price					Contractual Term
							(in years)
	Outstanding, January 1, 2012	$	4.4		115,600
	Granted		5.27		12,000
	Cancelled		-		-
	Exercised		2.72		(2,000	)
	Outstanding, September 30, 2012	$	4.51		125,600			4.93	$	213,256
	Exercisable, September 30, 2012	$	4.51		125,600			4.93	$	213,256
	Outstanding, January 1, 2013	$	4.53		121,600
	Granted		6.87		12,000
	Cancelled		-		-
	Exercised		4.23		(49,000	)
	Outstanding, September 30, 2013	$	5.04		84,600			7.22	$	104,656
	Exercisable, September 30, 2013	$	5.04		84,600			7.22	$	104,656
Schedule of Share-based Compensation, Activity [Table Text Block]	'
		30-Sep-13		30-Sep-12
	Weighted average grant-date fair value of stock options granted	$	0.97	$	0.83
	Total fair value of stock options vested	$	11,686	$	10,000
	Total intrinsic value of stock options exercised	$	113,790	$	3,077

Note_4_Earnings_Per_Share_Tabl

Note 4 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Numerator:
	Net income	$	1,561,832	$	280,770	$	4,777,506	$	3,394,514
	Numerator for basic and diluted earnings per share		1,561,832		280,770		4,777,506		3,394,514
	Denominator:
	Weighted-average shares outstanding-basic		10,176,744		10,156,790		10,163,490		10,156,559
	Effect of dilutive securities:
	Stock options		44,768		20,676		41,858		23,010
	Dilutive potential common shares		44,768		20,676		41,858		23,010
	Denominator for diluted earnings per share- weighted-average shares		10,221,512		10,177,466		10,205,348		10,179,569
	Basic earnings per share	$	0.15	$	0.03	$	0.47	$	0.33
	Diluted earnings per share	$	0.15	$	0.03	$	0.47	$	0.33

Note_7_Segment_Information_Tab

Note 7 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Wholesale Leathercraft			Retail		Int’l			Total
					Leathercraft		Leathercraft
	For the quarter ended September 30, 2013
	Net sales	$	6,476,676		$	11,128,646	$	919,282		$	18,524,604
	Gross profit		4,358,097			6,752,739		590,107			11,700,943
	Operating earnings		956,721			1,351,062		97,570			2,405,353
	Interest expense		(51,021	)		-		-			(51,021	)
	Other income (expense), net		33,372			-		(19,595	)		13,777
	Income before income taxes		939,072			1,351,062		77,975			2,368,109
	Depreciation and amortization		241,864			71,496		13,325			326,685
	Fixed asset additions		290,087			162,697		-			452,784
	Total assets	$	40,445,814		$	11,150,004	$	2,589,503		$	54,185,321
	For the quarter ended September 30, 2012
	Net sales	$	6,242,602		$	9,947,911	$	810,215		$	17,000,728
	Gross profit		4,111,067			5,848,397		445,306			10,404,770
	Operating earnings		(297,897	)		987,704		(44,951	)		644,856
	Interest expense		(59,623	)		-		-			(59,623	)
	Other income (expense), net		15,926			-		(18,713	)		(2,787	)
	Income before income taxes		(341,594	)		987,704		(63,664	)		582,446
	Depreciation and amortization		205,991			50,650		13,428			270,069
	Fixed asset additions		779,676			107,234		3,529			890,439
	Total assets	$	35,690,494		$	10,719,659	$	2,242,963		$	48,653,116
		Wholesale Leathercraft			Retail Leathercraft		Int’l			Total
							Leathercraft
	For the nine months ended September 30, 2013
	Net sales	$	19,934,996		$	33,930,587	$	2,869,861		$	56,735,444
	Gross profit		13,171,368			20,584,324		1,796,201			35,551,893
	Operating earnings		2,853,219			4,243,006		276,052			7,372,277
	Interest expense		(158,659	)		-		-			(158,659	)
	Other income (expense), net		108,077			26		30,697			138,800
	Income before income taxes		2,802,637			4,243,032		306,749			7,352,418
	Depreciation and amortization		655,022			193,118		41,255			889,395
	Fixed asset additions		1,858,985			554,831		1,668			2,415,484
	Total assets	$	40,445,814		$	11,150,004	$	2,589,503		$	54,185,321
	For the nine months ended September 30, 2012
	Net sales	$	19,678,009		$	30,093,864	$	2,310,188		$	52,082,061
	Gross profit		12,914,740			18,365,729		1,430,136			32,710,605
	Operating earnings		2,038,267			3,655,932		(30,395	)		5,663,804
	Interest expense		(176,251	)		-		-			(176,251	)
	Other income (expense), net		44,275			13		15,498			59,786
	Income before income taxes		1,906,291			3,655,945		(14,897	)		5,547,339
	Depreciation and amortization		613,608			140,566		39,948			794,122
	Fixed asset additions		913,900			303,525		76,625			1,294,050
	Total assets	$	35,690,494		$	10,719,659	$	2,242,963		$	48,653,116
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	'
	Three months ended September 30,	2013			2012
	United States	$	15,466,317		$	14,221,642
	Canada		1,889,696			1,761,960
	All other countries		1,168,591			1,017,126
		$	18,524,604		$	17,000,728
	Nine months ended September 30,	2013			2012
	United States	$	47,404,281		$	43,861,288
	Canada		5,728,405			5,214,782
	All other countries		3,602,758			3,005,991
		$	56,735,444		$	52,082,061

Note_1_Basis_of_Presentation_a2

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Disclosure Text Block [Abstract]	'	'
Amortization of Intangible Assets	$30,890	$33,378

Note_1_Basis_of_Presentation_a3

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Components of inventory (USD $)	Sep. 30, 2013	Dec. 31, 2012
Inventory on hand:	'	'
Finished goods held for sale	$27,213,820	$24,039,846
Raw materials and work in process	1,227,130	495,182
Inventory in transit	1,051,538	1,327,756
	$29,492,488	$25,862,784

Note_1_Basis_of_Presentation_a4

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Summary of changes in goodwill (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
			Leather Factory [Member]	Leather Factory [Member]	Tandy Leather [Member]	Tandy Leather [Member]	Tandy Leather [Member]	Tandy Leather [Member]
Goodwill [Line Items]	'	'	'	'	'	'	'	'
Balance,	$990,725	$987,009	$607,319	$603,603	$383,406	$383,406	$383,406	$383,406
Foreign exchange gain/loss	-4,572	5,018	-4,572	5,018	'	'	'	'
Balance,	$986,153	$992,027	$602,747	$608,621	$383,406	$383,406	$383,406	$383,406

Note_1_Basis_of_Presentation_a5

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Other intangibles (USD $)	Sep. 30, 2013	Dec. 31, 2012
Finite-Lived Intangible Assets [Line Items]	'	'
Gross	$726,539	$727,585
Accumulated Amortization	612,000	582,000
Net	114,643	145,533
Trademarks [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Gross	544,369	544,369
Accumulated Amortization	480,143	456,836
Net	64,226	87,533
Noncompete Agreements [Member]	'	'
Finite-Lived Intangible Assets [Line Items]	'	'
Gross	182,170	183,216
Accumulated Amortization	131,753	125,216
Net	$50,417	$58,000

Note_1_Basis_of_Presentation_a6

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated amortization expense for each of the succeeding 5 years (USD $)	Sep. 30, 2013
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated amortization expense for each of the succeeding 5 years [Line Items]	'
2013	$42,069
2014	44,496
2015	39,302
2016	4,666
Wholesale Leathercraft [Member]	'
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated amortization expense for each of the succeeding 5 years [Line Items]	'
2013	732
2014	492
Retail Leathercraft [Member]	'
Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details) - Estimated amortization expense for each of the succeeding 5 years [Line Items]	'
2013	41,337
2014	44,004
2015	39,302
2016	$4,666

Note_2_Notes_Payable_And_LongT2

Note 2 - Notes Payable And Long-Term Debt (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Jul. 31, 2007	Jul. 31, 2007	Jul. 12, 2012	Sep. 30, 2013	Apr. 30, 2008	Jul. 31, 2007	Sep. 30, 2013	Jul. 12, 2012
			Building [Member]	Land [Member]	London Interbank Offered Rate (LIBOR) [Member]	London Interbank Offered Rate (LIBOR) [Member]	Term Note [Member]	Credit Agreement with JPMorgan Chase Bank, N.A. [Member]	Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]	Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]
			Credit Agreement with JPMorgan Chase Bank, N.A. [Member]	Credit Agreement with JPMorgan Chase Bank, N.A. [Member]	Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]	Line of Credit Note with JPMorgan Chase Bank, N.A.[Member]	Credit Agreement with JPMorgan Chase Bank, N.A. [Member]
			sqft	acre
Note 2 - Notes Payable And Long-Term Debt (Details) [Line Items]	'	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	'	'	'	'	'	$5,500,000	'	$4,000,000
Area of Real Estate Property (in Square Feet)	'	'	191,000	30	'	'	'	'	'	'
Area of Real Estate Property (in Acres)	'	'	191,000	30	'	'	'	'	'	'
Proceeds from Bank Debt	'	'	'	'	'	'	'	4,050,000	'	'
Debt Instrument, Term	'	'	'	'	'	'	'10 years	'	'	'
Debt Instrument Amortization Period	'	'	'	'	'	'	'20 years	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	7.10%	7.10%	'	'	'	'	7.10%	'	'	'
Debt Instrument, Basis Spread on Variable Rate	'	'	'	'	2.00%	2.25%	'	'	'	'
Line of Credit Facility, Remaining Borrowing Capacity	'	'	'	'	'	'	'	'	$4,000,000	'

Note_2_Notes_Payable_And_LongT3

Note 2 - Notes Payable And Long-Term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (USD $)	Sep. 30, 2013	Dec. 31, 2012
Credit Agreement with JPMorgan Chase Bank b collateralized by real estate; payable as follows:	'	'
Line of Credit Note dated July 31, 2007, converted to a 10-year term note on April 30, 2008; $16,875 monthly principal payments plus interest at 7.1% per annum; matures April 30, 2018	$2,649,375	$3,105,000
	2,649,375	3,105,000
Less - Current maturities	-202,500	-202,500
	$2,446,875	$2,902,500

Note_2_Notes_Payable_And_LongT4

Note 2 - Notes Payable And Long-Term Debt (Details) - Summary of Credit Agreement and Line of Credit Note (Parentheticals) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Summary of Credit Agreement and Line of Credit Note [Abstract]	'	'
Line of Credit Note term	'10 years	'10 years
Line of Credit Note monthly principal payments (in Dollars)	$16,875	$16,875
Line of Credit Note interest	7.10%	7.10%

Note_3_StockBased_Compensation2

Note 3 - Stock-Based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Note 3 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation	$0	$0	$11,686	$10,000
Stock Option Plan [Member] | Non-employee Directors [Member]	'	'	'	'
Note 3 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures (in Shares)	'	'	12,000	12,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'	'	'6 months	'
Restricted Stock [Member] | Executive Officers, Non-employee Directors and Other Key Employees [Member]	'	'	'	'
Note 3 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares)	300,000	'	300,000	'
Restricted Stock [Member] | Minimum [Member]	'	'	'	'
Note 3 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'	'	'4 years	'
1995 Stock Option Plans [Member] | Maximum [Member]	'	'	'	'
Note 3 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	'	'	'10 years	'

Note_3_StockBased_Compensation3

Note 3 - Stock-Based Compensation (Details) - Summary of stock option activity: (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Summary of stock option activity: [Abstract]	'	'
Weighted Average Exercise Price (in Dollars per share)	$4.53	$4.40
# of shares	121,600	115,600
Weighted Average Exercise Price (in Dollars per share)	$6.87	$5.27
# of shares	12,000	12,000
Weighted Average Exercise Price (in Dollars per share)	$4.23	$2.72
# of shares	-49,000	-2,000
Weighted Average Exercise Price (in Dollars per share)	$5.04	$4.51
# of shares	84,600	125,600
Weighted Average Remaining Contractual Term (in years)	'7 years 80 days	'4 years 339 days
Aggregate Intrinsic Value (in Dollars)	$104,656	$213,256
Weighted Average Exercise Price (in Dollars per share)	$5.04	$4.51
# of shares	84,600	125,600
Weighted Average Remaining Contractual Term (in years)	'7 years 80 days	'4 years 339 days
Aggregate Intrinsic Value (in Dollars)	$104,656	$213,256

Note_3_StockBased_Compensation4

Note 3 - Stock-Based Compensation (Details) - Other information pertaining to option activity: (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Other information pertaining to option activity: [Abstract]	'	'
Weighted average grant-date fair value of stock options granted (in Dollars per share)	$0.97	$0.83
Total fair value of stock options vested	$11,686	$10,000
Total intrinsic value of stock options exercised	$113,790	$3,077

Note_4_Earnings_Per_Share_Deta

Note 4 - Earnings Per Share (Details)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	111,600	127,600

Note_4_Earnings_Per_Share_Deta1

Note 4 - Earnings Per Share (Details) - Computation of basic and diluted earnings per share: (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:	'	'	'	'
Net income (in Dollars)	$1,561,832	$280,770	$4,777,506	$3,394,514
Numerator for basic and diluted earnings per share (in Dollars)	$1,561,832	$280,770	$4,777,506	$3,394,514
Denominator:	'	'	'	'
Weighted-average shares outstanding-basic	10,176,744	10,156,790	10,163,490	10,156,559
Effect of dilutive securities:	'	'	'	'
Stock options	44,768	20,676	41,858	23,010
Dilutive potential common shares	44,768	20,676	41,858	23,010
Denominator for diluted earnings per share- weighted-average shares	10,221,512	10,177,466	10,205,348	10,179,569
Basic earnings per share (in Dollars per share)	$0.15	$0.03	$0.47	$0.33
Diluted earnings per share (in Dollars per share)	$0.15	$0.03	$0.47	$0.33

Note_5_Cash_Dividend_Details

Note 5 - Cash Dividend (Details) (USD $)	1 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 30, 2012	Mar. 31, 2012
Cash Dividend [Abstract]	'	'
Common Stock, Dividends, Per Share, Cash Paid	'	$0.25
Dividends, Cash (in Dollars)	$2.50	'

Note_6_Commitments_and_Conting1

Note 6 - Commitments and Contingencies (Details) (USD $)	3 Months Ended			9 Months Ended
	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2012	Sep. 30, 2013
			Scenario, Forecast [Member]	Scenario, Forecast [Member]
Note 6 - Commitments and Contingencies (Details) [Line Items]	'	'	'	'
Litigation Settlement, Amount	'	$993,386	'	'
Payments for Legal Settlements	'	'	680,867	'
Loss Contingency, Escrow Deposit	'	993,385	'	'
Loss Contingency, Escrow Termination Period	'	'	'	'120 days
Loss Contingency, Escrow Account Balance	'	'	'	312,000
Litigation Settlement, Expense	'	993,386	'	'
Loss Contingency, Benefit	$312,000	'	'	'

Note_7_Segment_Information_Det

Note 7 - Segment Information (Details)	9 Months Ended
	Sep. 30, 2013
Note 7 - Segment Information (Details) [Line Items]	'
Number of Operating Segments	3
International Leathercraft [Member]	'
Note 7 - Segment Information (Details) [Line Items]	'
Number of Stores	3
Northampton United Kingdom [Member]	'
Note 7 - Segment Information (Details) [Line Items]	'
Number of Stores	1
Sydney Australia [Member]	'
Note 7 - Segment Information (Details) [Line Items]	'
Number of Stores	1
Jerez Spain [Member]	'
Note 7 - Segment Information (Details) [Line Items]	'
Number of Stores	1

Note_7_Segment_Information_Det1

Note 7 - Segment Information (Details) - Summary of reportable operating segments: (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Segment Reporting Information [Line Items]	'	'	'	'	'
Net sales	$18,524,604	$17,000,728	$56,735,444	$52,082,061	'
Gross profit	11,700,943	10,404,770	35,551,893	32,710,605	'
Operating earnings	2,405,353	644,856	7,372,277	5,663,804	'
Interest (expense)	-51,021	-59,623	-158,659	-176,251	'
Other income (expense), net	13,777	-2,787	138,800	59,786	'
Income before income taxes	2,368,109	582,446	7,352,418	5,547,339	'
Depreciation and amortization	326,685	270,069	889,395	794,122	'
Fixed asset additions	452,784	890,439	2,415,484	1,294,050	'
Total assets	54,185,321	48,653,116	54,185,321	48,653,116	49,087,672
Wholesale Leathercraft [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Net sales	6,476,676	6,242,602	19,934,996	19,678,009	'
Gross profit	4,358,097	4,111,067	13,171,368	12,914,740	'
Operating earnings	956,721	-297,897	2,853,219	2,038,267	'
Interest (expense)	-51,021	-59,623	-158,659	-176,251	'
Other income (expense), net	33,372	15,926	108,077	44,275	'
Income before income taxes	939,072	-341,594	2,802,637	1,906,291	'
Depreciation and amortization	241,864	205,991	655,022	613,608	'
Fixed asset additions	290,087	779,676	1,858,985	913,900	'
Total assets	40,445,814	35,690,494	40,445,814	35,690,494	'
Retail Leathercraft [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Net sales	11,128,646	9,947,911	33,930,587	30,093,864	'
Gross profit	6,752,739	5,848,397	20,584,324	18,365,729	'
Operating earnings	1,351,062	987,704	4,243,006	3,655,932	'
Other income (expense), net	'	'	26	13	'
Income before income taxes	1,351,062	987,704	4,243,032	3,655,945	'
Depreciation and amortization	71,496	50,650	193,118	140,566	'
Fixed asset additions	162,697	107,234	554,831	303,525	'
Total assets	11,150,004	10,719,659	11,150,004	10,719,659	'
Intbl Leathercraft [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Net sales	919,282	810,215	2,869,861	2,310,188	'
Gross profit	590,107	445,306	1,796,201	1,430,136	'
Operating earnings	97,570	-44,951	276,052	-30,395	'
Other income (expense), net	-19,595	-18,713	30,697	15,498	'
Income before income taxes	77,975	-63,664	306,749	-14,897	'
Depreciation and amortization	13,325	13,428	41,255	39,948	'
Fixed asset additions	'	3,529	1,668	76,625	'
Total assets	$2,589,503	$2,242,963	$2,589,503	$2,242,963	'

Note_7_Segment_Information_Det2

Note 7 - Segment Information (Details) - Net sales for geographic areas: (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	$18,524,604	$17,000,728	$56,735,444	$52,082,061
United States [Member] | Three Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	15,466,317	14,221,642
United States [Member] | Nine Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	47,404,281	43,861,288
Canada [Member] | Three Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	1,889,696	1,761,960
Canada [Member] | Nine Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	5,728,405	5,214,782
All Other Countries [Member] | Three Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	1,168,591	1,017,126
All Other Countries [Member] | Nine Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	3,602,758	3,005,991
Three Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	18,524,604	17,000,728
Nine Months [Member]	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'
Geographic locations	'	'	$56,735,444	$52,082,061