Tandy Leather Factory (TLF) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document Information [Line Items]
Entity Registrant Name	TANDY LEATHER FACTORY INC
Entity Central Index Key	909,724
Trading Symbol	tlf
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		9,270,862
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash	$ 12,179,384	$ 16,862,304
Accounts receivable-trade, net of allowance for doubtful accounts of $10,637 and $2,404 in 2017 and 2016, respectively	529,378	560,984
Inventory	41,148,059	33,177,539
Prepaid income taxes	947,507	964,323
Prepaid expenses	1,652,367	1,608,860
Other current assets	352,759	140,232
Total current assets	56,809,454	53,314,242
PROPERTY AND EQUIPMENT, at cost	27,062,582	25,536,352
Less accumulated depreciation and amortization	(11,298,871)	(9,884,559)
	15,763,711	15,651,793
DEFERRED INCOME TAXES	447,308	375,236
GOODWILL	963,852	956,201
OTHER INTANGIBLES, net of accumulated amortization of approximately $710,000 and $708,000 in 2017 and 2016, respectively	19,509	20,840
OTHER ASSETS	368,007	334,408
TOTAL ASSETS	74,371,841	70,652,720
CURRENT LIABILITIES:
Accounts payable-trade	2,569,016	1,621,884
Accrued expenses and other liabilities	4,613,402	5,937,187
Current maturities of capital lease obligations	72,686	72,686
Current maturities of long-term debt	153,578	614,311
Total current liabilities	7,408,682	8,246,068
DEFERRED INCOME TAXES	1,814,012	1,956,032
LONG-TERM DEBT, net of current maturities	7,218,152	6,757,419
COMMITMENTS AND CONTINGENCIES
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; 11,313,692 and 11,235,992 shares issued at 2017 and 2016, respectively; 9,270,862 and 9,193,162 shares outstanding at 2017 and 2016, respectively	27,153	26,966
Paid-in capital	6,797,052	6,368,455
Retained earnings	62,249,904	59,469,493
Treasury stock at cost (2,042,830 shares at 2017 and 2016, respectively)	(10,278,584)	(10,278,584)
Accumulated other comprehensive income	(864,530)	(1,893,129)
Total stockholders’ equity	57,930,995	53,693,201
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 74,371,841	$ 70,652,720

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable-trade, allowance for doubtful accounts	$ 10,637	$ 2,404
Other intangibles, accumulated amortization	$ 710,176	$ 708,845
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0024	$ 0.0024
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	11,313,692	11,235,992
Common stock, shares outstanding (in shares)	9,270,862	9,193,162
Treasury stock, shares (in shares)	2,042,830	2,042,830

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
NET SALES	$ 18,388,381	$ 18,628,362	$ 57,818,996	$ 58,823,494
COST OF SALES	6,753,050	6,983,491	21,002,086	21,630,087
Gross profit	11,635,331	11,644,871	36,816,910	37,193,407
OPERATING EXPENSES	10,985,056	10,104,812	32,773,707	30,451,667
INCOME FROM OPERATIONS	650,275	1,540,059	4,043,203	6,741,740
OTHER INCOME (EXPENSE):
Interest expense	(53,141)	(43,493)	(143,165)	(108,949)
Other, net	95,936	3,570	115,599	26,965
Total other income (expense)	42,795	(39,923)	(27,566)	(81,984)
INCOME BEFORE INCOME TAXES	693,070	1,500,136	4,015,637	6,659,756
PROVISION FOR INCOME TAXES	171,656	499,786	1,235,226	2,317,494
NET INCOME	521,414	1,000,350	2,780,411	4,342,262
Translation adjustment	370,240	(32,566)	1,028,599	222,187
COMPREHENSIVE INCOME	$ 891,654	$ 967,784	$ 3,809,010	$ 4,564,449
NET INCOME PER COMMON SHARE:
Basic (in dollars per share)	$ 0.06	$ 0.11	$ 0.30	$ 0.46
Diluted (in dollars per share)	$ 0.06	$ 0.11	$ 0.30	$ 0.46
Weighted Average Number of Shares Outstanding:
Basic (in shares)	9,270,862	9,188,483	9,232,397	9,341,364
Diluted (in shares)	9,273,950	9,206,382	9,246,066	9,359,405

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,780,411	$ 4,342,262
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	1,466,534	1,273,078
Loss / (gain) on disposal or abandonment of assets	10,484	(6,306)
Non-cash stock-based compensation	205,380	156,586
Deferred income taxes	(214,092)	18,211
Foreign currency translation	961,860	236,139
Net changes in assets and liabilities:
Accounts receivable-trade	31,606	39,615
Inventory	(7,970,520)	(3,537,758)
Prepaid expenses	(43,507)	(492,234)
Other current assets	(212,527)	53,936
Accounts payable-trade	947,132	(1,497)
Accrued expenses and other liabilities	(1,323,785)	482,975
Income taxes payable	16,816	(688,029)
Total adjustments	(6,124,619)	(2,465,284)
Net cash (used in) provided by operating activities	(3,344,208)	1,876,978
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(1,530,547)	(1,385,431)
Proceeds from sale of assets	699	26,703
Decrease in other assets	(32,268)	(10,368)
Net cash used in investing activities	(1,562,116)	(1,369,096)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes payable and long term debt		3,660,505
Payments on capital lease obligations		(6,710)
Repurchase of common stock (treasury stock)		(3,675,654)
Proceeds from exercise of stock options	223,404
Net cash provided by (used in) financing activities	223,404	(21,859)
NET (DECREASE) INCREASE IN CASH	(4,682,920)	486,023
CASH, beginning of period	16,862,304	10,962,615
CASH, end of period	12,179,384	11,448,638
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the period	143,165	108,949
Income tax paid during the period, net of refunds	$ 1,218,410	$ 3,005,523

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2015	9,753,293
Balance at Dec. 31, 2015	$ 27,062	$ 6,168,489	$ (6,602,930)	$ 53,067,234	$ (1,687,679)	$ 50,972,176
Purchase of treasury stock (in shares)	(520,482)
Purchase of treasury stock			(3,675,654)			(3,675,654)
Stock-based compensation (in shares)	33,685
Stock-based compensation	$ 80	156,506				156,586
Net income				4,342,262		4,342,262
Translation adjustment					222,187	$ 222,187
Exercise of stock options (in shares)
Balance (in shares) at Sep. 30, 2016	9,266,496
Balance at Sep. 30, 2016	$ 27,142	6,324,995	(10,278,584)	57,409,496	(1,465,492)	$ 52,017,557
Balance (in shares) at Dec. 31, 2016	9,193,162
Balance at Dec. 31, 2016	$ 26,966	6,368,455	(10,278,584)	59,469,493	(1,893,129)	53,693,201
Stock-based compensation (in shares)	33,300
Stock-based compensation	$ 80	205,300				205,380
Net income				2,780,411		2,780,411
Translation adjustment					1,028,599	$ 1,028,599
Exercise of stock options (in shares)	44,400					44,400
Exercise of stock options	$ 107	223,297				$ 223,404
Balance (in shares) at Sep. 30, 2017	9,270,862
Balance at Sep. 30, 2017	$ 27,153	$ 6,797,052	$ (10,278,584)	$ 62,249,904	$ (864,530)	$ 57,930,995

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Certain Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [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 fairl y its financial position as of September 30, 2017 December 31, 2016, three nine September 30, 2017 2016. three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016. 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. Reclassificati on s . Inventory . first first Based on negotiations with vendors, title generally passes to us when merchandise is put on board. Merchandise to which we have title but have not September 30, 2017 December 31, 2016 Inventory on hand: Finished goods held for sale $ 38,789,949 $ 30,684,026 Raw materials and work in process 1,616,499 1,034,041 Inventory in transit 741,611 1,459,472 $ 41,148,059 $ 33,177,539 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 first second to perform the annual analysis during the fourth December 31, 2016, No first nine 2017. The only change in our goodwill for the nine September 30, 2017 2016 $7,651 $5,274, Other intangibles consist of the following: September 30, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trademarks, Copyrights $ 554,369 $ 545,860 $ 8,509 $ 554,369 $ 545,279 $ 9,090 Non-Compete Agreements 175,316 164,316 11,000 175,316 163,566 11,750 $ 729,685 $ 710,176 $ 19,509 $ 729,685 $ 708,845 $ 20,840 We recorded amortization expense of $1,331 nine September 30, 2017 $5,998 first nine 2016. 5 2017 426 2018 1,417 2019 666 2020 666 2021 666 Thereafter $5,668 Revenue Recognition . two 1 2 . 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 ( loss ). Recent Account ing Pronouncements. May 2014, No. 2014 09, 606, December 15, 2016. April 2015, No. 2015 24, one July 7, 2015, one December 15, 2017. 2018 not no 2017 not No. 2014 09 not 0.5% three In February 2016, 2016 02, one December 15, 2018, not

Note 2 - Notes Payable and Long

Note 2 - Notes Payable and Long-term Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	2. N OTES PAYABLE AND LONG-TERM DEBT On September 18, 2015, BOKF”) which provides us with a line of credit facility of up to $10,000,000 August 2015 2.2 August 2018. August 25, 2016, $10,000,000 $15,000,000 August 25, 2017 August 10, 2017, August 25, 2017 August 18, 2018 4 1900 820, no nine September 30, 2017. nine September 30, 2016, $3.7 520,500 September 30, 2017, $7.6 Also, on September 18, 2015, $6,000,000 On August 10, 2017, September 18, 2019. no 1.5 1 1.2 1. four nine September 30, 2017 2016, no Amounts drawn under either facility accrue interest at the London interbank Eurodollar market rate for U.S. dollars (commonly known as “LIBOR”) plus 1.85% 3.086% 2.557% September 30, 2017 December 31, 2016, T he amount outstanding under the above agreements consisted of the following: 9 /30/ 201 7 12/31/ 201 6 Line of Credit , as amended, up to $15,000,000 with features as more fully described above –matures September 18, 2022 $ 7,371,730 $ 7,371,730 Line of Credit , as amended, up to $6,000,000 with features as more fully described above – matures September 18, 2019 - - $ 7,371,730 $ 7,371,730 Less current maturities 153,578 614,311 $ 7,218,152 $ 6,757,419

Note 3 - Capital Lease Obligati

Note 3 - Capital Lease Obligations	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt and Capital Leases Disclosures [Text Block]	3. We lease certain telecommunication equipment under a capital lease agreement. The asset subject to the agreement totaled $227,783, 217,114 $210,904 September 30, 2017 December 31, 2016, $10,669 $16,879 not September 30, 2017 December 31, 2016, $36,300 $21,400 September 30, 2017 December 31, 2016, 2017, $72,686 September 30, 2017.

Note 4 - Stock-based Compensati

Note 4 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	4. ON We have one that terminated in March 2017. not no ten no nine September 30, 2017 2016 no nine September 30, 2017 2016. nine September 30, 2017 2016, Weighted Average Exercise Price # of shares Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 1, 201 7 $ 5.14 56,400 Granted - - Cancelled 5.14 (12,000 ) Exercised 5.14 (44,400 ) 3.99 $ 155,606 Outstanding, Sept 30, 2017 $ - - - $ - Exercisable, Sept 30, 2017 $ - - - $ - Outstanding, January 1, 201 6 $ 5.17 68,400 Granted - - Cancelled (5.30 ) (12,000 ) Exercised - - Outstanding, Sept 30, 2016 $ 6.27 56,400 4.47 $ 70,545 Exercisable, Sept 30, 2016 $ 6.27 56,400 4.47 $ 70,545 We have a restricted stock plan that was adopted by our Board of Directors in January 2013 June 2013. 300,000 may may four In February 2017, our five 1,801 March 2016, 11,765 five 2,031 four four On June 6, 2017, vesting for certain restricted stock grants to three $104,000 nine September 30, 2017. A summary of the activity for non -vested restricted common stock awards as of September 30, 2017 2016 Shares Award Fair Value Balance, January 1, 201 7 62,046 $ 8.24 Granted 9,005 8.05 Forfeited (5,403 ) 8.05 Vested (28,847 ) 7.84 Unvested Balance, September 30, 2017 36,801 $ 7.93 Balance, January 1, 201 6 60,433 $ 8.97 Granted 33,685 7.14 Forfeited (8,187 ) 8.97 Vested (20,784 ) 8.97 Unvested Balance, September 30, 2016 65,147 $ 8.03 As of S eptember 30, 2017, $208,533 2017 $34,219 2018 100,127 2019 58,126 2020 14,853 2021 1,208

Note 5 - Earnings Per Share

Note 5 - Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	5. EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the three and nine September 30: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net income $ 521,414 $ 1,000,350 $ 2,780,411 $ 4,342,262 Numerator for basic and diluted earnings per share 521,414 1,000,350 2,780,411 4,342,262 Denominator for basic EPS: weighted-average shares 9,270,862 9,188,483 9,232,397 9,341,364 Effect of dilutive securities: Stock options - 16,933 9,810 17,279 Restricted stock 3,088 966 3,859 762 Dilutive potential common shares 3,088 17,899 13,669 18,041 Denominator for diluted EPS-weighted-average shares 9,273,950 9,206,382 9,246,066 9,359,405 Basic earnings per share $ 0.06 $ 0.11 $ 0.30 $ 0.46 Diluted earnings per share $ 0.06 $ 0.11 $ 0.30 $ 0.46 The net effect of assuming the exercise of all potentially dilutive common share equivalents, including stock options to purchase common stock at exercise prices less than the average market prices and restricted stock awards of an aggregate of 36,801 121,562 September 30, 2017 2016,

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6. Legal Proceedings. We are periodically involved in litigation that arises in the ordinary course of business and operations. There are no

Note 7 - Segment Information

Note 7 - Segment Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	7. SEGMENT INFORMATION Effective January 1, 2017, Prior Reporting Structure New Reporting Structure 1. Wholesale chain of wholesale stores operating under the name, The Leather Factory, located in North America 1. North America 2. Retail chain of retail stores operating under the name, Tandy Leather Company, located in North America 2. International no 3. International four 2 1 1 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. The 2016 North America International Total For the quarter ended S e ptember 30 , 20 17 Net sales $ 17,421,013 $ 967,368 $ 18,388,381 Gross profit 11,037,486 597,845 11,635,331 Operating income (loss) 649,797 478 650,275 Interest (expense) (53,141 ) - (53,141 ) Other income (expense), net 94,196 1,740 95,936 Income (loss) before income taxes 690,852 2,218 693,070 Depreciation and amortization 513,250 23,876 537,126 Fixed asset additions 523,546 2,095 525,641 Total assets $ 70,083,363 $ 4,288,478 $ 74,371,841 For the quarter ended September 30 , 20 16 Net sales $ 17,745,130 $ 883,232 $ 18,628,362 Gross profit 11,124,269 520,602 11,644,871 Operating income (loss) 1,589,071 (49,012 ) 1,540,059 Interest (expense) (43,493 ) - (43,493 ) Other income (expense), net 7,052 (3,482 ) 3,570 Income (loss) before income taxes 1,552,630 (52,494 ) 1,500,136 Depreciation and amortization 419,091 22,194 441,285 Fixed asset additions 485,347 2,077 487,424 Total assets $ 65,960,965 $ 3,837,798 $ 69,798,763 North America International Total For the nine months ended September 30 , 20 17 Net sales $ 55,080,152 $ 2,738,844 $ 57,818,996 Gross profit 35,239,645 1,577,265 36,816,910 Operating income (loss) 4,276,247 (233,044 ) 4,043,203 Interest (expense) (143,165 ) - (143,165 ) Other income (expense), net 127,045 (11,446 ) 115,599 Income (loss) before income taxes 4,260,127 (244,490 ) 4,015,637 Depreciation and amortization 1,398,319 68,215 1,466,534 Fixed asset additions 1,508,426 22,121 1,530,547 Total assets $ 70,083,363 $ 4,288,478 $ 74,371,841 For the nine months ended September 30 , 20 16 Net sales $ 56,043,559 $ 2,779,935 $ 58,823,494 Gross profit 35,364,389 1,829,018 37,193,407 Operating income 6,644,592 97,148 6,741,740 Interest (expense) (108,949 ) - (108,949 ) Other income (expense), net 21,784 5,181 26,965 Income before income taxes 6,557,427 102,329 6,659,756 Depreciation and amortization 1,186,990 86,088 1,273,078 Fixed asset additions 1,330,446 54,985 1,385,431 Total assets $ 65,960,965 $ 3,837,798 $ 69,798,763 Net sales for geographic areas were as follows : Three months ended S e ptember 30, 20 17 20 16 United States $ 15,551,725 $ 15,955,084 Canada 1,653,051 1,597,652 All other countries 1,183,605 1,075,626 $ 18,388,381 $ 18,628,362 Nine months ended September 30, 2017 20 16 United States $ 49,380,463 $ 50,293,346 Canada 5,072,785 5,085,955 All other countries 3,365,748 3,444,193 $ 57,818,996 $ 58,823,494 Geographic sales information is based on the location of the customer. No net sales for the three nine September 30, 2017 2016. not

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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 fairl y its financial position as of September 30, 2017 December 31, 2016, three nine September 30, 2017 2016. three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016. 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.
Reclassification, Policy [Policy Text Block]	Reclassificati on s .
Inventory, Policy [Policy Text Block]	Inventory . first first Based on negotiations with vendors, title generally passes to us when merchandise is put on board. Merchandise to which we have title but have not September 30, 2017 December 31, 2016 Inventory on hand: Finished goods held for sale $ 38,789,949 $ 30,684,026 Raw materials and work in process 1,616,499 1,034,041 Inventory in transit 741,611 1,459,472 $ 41,148,059 $ 33,177,539
Goodwill and Intangible Assets, Policy [Policy Text Block]	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 first second to perform the annual analysis during the fourth December 31, 2016, No first nine 2017. The only change in our goodwill for the nine September 30, 2017 2016 $7,651 $5,274, Other intangibles consist of the following: September 30, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trademarks, Copyrights $ 554,369 $ 545,860 $ 8,509 $ 554,369 $ 545,279 $ 9,090 Non-Compete Agreements 175,316 164,316 11,000 175,316 163,566 11,750 $ 729,685 $ 710,176 $ 19,509 $ 729,685 $ 708,845 $ 20,840 We recorded amortization expense of $1,331 nine September 30, 2017 $5,998 first nine 2016. 5 2017 426 2018 1,417 2019 666 2020 666 2021 666 Thereafter $5,668
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition . two 1 2 . 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, Policy [Policy Text Block]	Comprehensive Income ( loss ).
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Account ing Pronouncements. May 2014, No. 2014 09, 606, December 15, 2016. April 2015, No. 2015 24, one July 7, 2015, one December 15, 2017. 2018 not no 2017 not No. 2014 09 not 0.5% three In February 2016, 2016 02, one December 15, 2018, not

Note 1 - Basis of Presentatio15

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2017 December 31, 2016 Inventory on hand: Finished goods held for sale $ 38,789,949 $ 30,684,026 Raw materials and work in process 1,616,499 1,034,041 Inventory in transit 741,611 1,459,472 $ 41,148,059 $ 33,177,539
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Trademarks, Copyrights $ 554,369 $ 545,860 $ 8,509 $ 554,369 $ 545,279 $ 9,090 Non-Compete Agreements 175,316 164,316 11,000 175,316 163,566 11,750 $ 729,685 $ 710,176 $ 19,509 $ 729,685 $ 708,845 $ 20,840
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2017 426 2018 1,417 2019 666 2020 666 2021 666 Thereafter $5,668

Note 2 - Notes Payable and Lo16

Note 2 - Notes Payable and Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	9 /30/ 201 7 12/31/ 201 6 Line of Credit , as amended, up to $15,000,000 with features as more fully described above –matures September 18, 2022 $ 7,371,730 $ 7,371,730 Line of Credit , as amended, up to $6,000,000 with features as more fully described above – matures September 18, 2019 - - $ 7,371,730 $ 7,371,730 Less current maturities 153,578 614,311 $ 7,218,152 $ 6,757,419

Note 4 - Stock-based Compensa17

Note 4 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Average Exercise Price # of shares Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 1, 201 7 $ 5.14 56,400 Granted - - Cancelled 5.14 (12,000 ) Exercised 5.14 (44,400 ) 3.99 $ 155,606 Outstanding, Sept 30, 2017 $ - - - $ - Exercisable, Sept 30, 2017 $ - - - $ - Outstanding, January 1, 201 6 $ 5.17 68,400 Granted - - Cancelled (5.30 ) (12,000 ) Exercised - - Outstanding, Sept 30, 2016 $ 6.27 56,400 4.47 $ 70,545 Exercisable, Sept 30, 2016 $ 6.27 56,400 4.47 $ 70,545
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Shares Award Fair Value Balance, January 1, 201 7 62,046 $ 8.24 Granted 9,005 8.05 Forfeited (5,403 ) 8.05 Vested (28,847 ) 7.84 Unvested Balance, September 30, 2017 36,801 $ 7.93 Balance, January 1, 201 6 60,433 $ 8.97 Granted 33,685 7.14 Forfeited (8,187 ) 8.97 Vested (20,784 ) 8.97 Unvested Balance, September 30, 2016 65,147 $ 8.03
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]	2017 $34,219 2018 100,127 2019 58,126 2020 14,853 2021 1,208

Note 5 - Earnings Per Share (Ta

Note 5 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net income $ 521,414 $ 1,000,350 $ 2,780,411 $ 4,342,262 Numerator for basic and diluted earnings per share 521,414 1,000,350 2,780,411 4,342,262 Denominator for basic EPS: weighted-average shares 9,270,862 9,188,483 9,232,397 9,341,364 Effect of dilutive securities: Stock options - 16,933 9,810 17,279 Restricted stock 3,088 966 3,859 762 Dilutive potential common shares 3,088 17,899 13,669 18,041 Denominator for diluted EPS-weighted-average shares 9,273,950 9,206,382 9,246,066 9,359,405 Basic earnings per share $ 0.06 $ 0.11 $ 0.30 $ 0.46 Diluted earnings per share $ 0.06 $ 0.11 $ 0.30 $ 0.46

Note 7 - Segment Information (T

Note 7 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	North America International Total For the quarter ended S e ptember 30 , 20 17 Net sales $ 17,421,013 $ 967,368 $ 18,388,381 Gross profit 11,037,486 597,845 11,635,331 Operating income (loss) 649,797 478 650,275 Interest (expense) (53,141 ) - (53,141 ) Other income (expense), net 94,196 1,740 95,936 Income (loss) before income taxes 690,852 2,218 693,070 Depreciation and amortization 513,250 23,876 537,126 Fixed asset additions 523,546 2,095 525,641 Total assets $ 70,083,363 $ 4,288,478 $ 74,371,841 For the quarter ended September 30 , 20 16 Net sales $ 17,745,130 $ 883,232 $ 18,628,362 Gross profit 11,124,269 520,602 11,644,871 Operating income (loss) 1,589,071 (49,012 ) 1,540,059 Interest (expense) (43,493 ) - (43,493 ) Other income (expense), net 7,052 (3,482 ) 3,570 Income (loss) before income taxes 1,552,630 (52,494 ) 1,500,136 Depreciation and amortization 419,091 22,194 441,285 Fixed asset additions 485,347 2,077 487,424 Total assets $ 65,960,965 $ 3,837,798 $ 69,798,763 North America International Total For the nine months ended September 30 , 20 17 Net sales $ 55,080,152 $ 2,738,844 $ 57,818,996 Gross profit 35,239,645 1,577,265 36,816,910 Operating income (loss) 4,276,247 (233,044 ) 4,043,203 Interest (expense) (143,165 ) - (143,165 ) Other income (expense), net 127,045 (11,446 ) 115,599 Income (loss) before income taxes 4,260,127 (244,490 ) 4,015,637 Depreciation and amortization 1,398,319 68,215 1,466,534 Fixed asset additions 1,508,426 22,121 1,530,547 Total assets $ 70,083,363 $ 4,288,478 $ 74,371,841 For the nine months ended September 30 , 20 16 Net sales $ 56,043,559 $ 2,779,935 $ 58,823,494 Gross profit 35,364,389 1,829,018 37,193,407 Operating income 6,644,592 97,148 6,741,740 Interest (expense) (108,949 ) - (108,949 ) Other income (expense), net 21,784 5,181 26,965 Income before income taxes 6,557,427 102,329 6,659,756 Depreciation and amortization 1,186,990 86,088 1,273,078 Fixed asset additions 1,330,446 54,985 1,385,431 Total assets $ 65,960,965 $ 3,837,798 $ 69,798,763
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	Three months ended S e ptember 30, 20 17 20 16 United States $ 15,551,725 $ 15,955,084 Canada 1,653,051 1,597,652 All other countries 1,183,605 1,075,626 $ 18,388,381 $ 18,628,362 Nine months ended September 30, 2017 20 16 United States $ 49,380,463 $ 50,293,346 Canada 5,072,785 5,085,955 All other countries 3,365,748 3,444,193 $ 57,818,996 $ 58,823,494

Note 1 - Basis of Presentatio20

Note 1 - Basis of Presentation and Certain Significant Accounting Policies (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Goodwill, Impairment Loss	$ 0
Goodwill, Foreign Currency Translation Gain (Loss)	7,651	$ 5,274
Amortization of Intangible Assets	$ 1,331	$ 5,998
Maximum [Member]
Sales Revenue, Annual Gross Product Returns	0.50%

Note 1 - Basis of Presentatio21

Note 1 - Basis of Presentation and Certain Significant Accounting Policies - Components of Inventory (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Inventory on hand:
Finished goods held for sale	$ 38,789,949	$ 30,684,026
Raw materials and work in process	1,616,499	1,034,041
Inventory in transit	741,611	1,459,472
	$ 41,148,059	$ 33,177,539

Note 1 - Basis of Presentatio22

Note 1 - Basis of Presentation and Certain Significant Accounting Policies - Intangible Assets (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Other intangibles, gross	$ 729,685	$ 729,685
Accumulated Amortization	710,176	708,845
Other intangibles, net	19,509	20,840
Trademarks and Copyrights [Member]
Other intangibles, gross	554,369	554,369
Accumulated Amortization	545,860	545,279
Other intangibles, net	8,509	9,090
Noncompete Agreements [Member]
Other intangibles, gross	175,316	175,316
Accumulated Amortization	164,316	163,566
Other intangibles, net	$ 11,000	$ 11,750

Note 1 - Basis of Presentatio23

Note 1 - Basis of Presentation and Certain Significant Accounting Policies - Estimated Amortization Expense (Details)	Sep. 30, 2017USD ($)
2,017	$ 426
2,018	1,417
2,019	666
2,020	666
2,021	666
Thereafter	$ 5,668

Note 2 - Notes Payable and Lo24

Note 2 - Notes Payable and Long-term Debt (Details Textual)	Sep. 18, 2015USD ($)shares	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)shares	Dec. 31, 2016	Aug. 25, 2016USD ($)	Aug. 24, 2016USD ($)
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares	2,200,000
Proceeds from Issuance of Long-term Debt			$ 3,660,505
Promissory Note with BOKF [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000				$ 15,000,000	$ 10,000,000
Line of Credit Facility, Term of the Term Note into which the Principal Balance Will Be Rolled		4 years
Proceeds from Issuance of Long-term Debt		$ 0	$ 3,700,000
Treasury Stock, Shares, Acquired | shares			520,500
Line of Credit Facility, Remaining Borrowing Capacity		7,600,000
Promissory Note and Business Loan Agreement with BOKF [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 6,000,000
Proceeds from Issuance of Long-term Debt		$ 0	$ 0
Promissory Note and Business Loan Agreement with BOKF [Member] | Maximum [Member]
Debt Instrument, Covenants, Debt to EBITDA Ratio	1.5
Promissory Note and Business Loan Agreement with BOKF [Member] | Minimum [Member]
Debt Instrument, Covenants, Fixed Charge Coverage Ratio	1.2
Two Promissory Notes with BOKF [Member]
Debt Instrument, Interest Rate, Effective Percentage		3.086%		2.557%
Two Promissory Notes with BOKF [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.85%

Note 2 - Notes Payable and Lo25

Note 2 - Notes Payable and Long-term Debt - Summary of Credit Agreement and Line of Credit Note (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
	$ 7,371,730	$ 7,371,730
Less current maturities	153,578	614,311
LONG-TERM DEBT, net of current maturities	7,218,152	6,757,419
Promissory Note with BOKF [Member]
Line of Credit Note	7,371,730	7,371,730
Promissory Note and Business Loan Agreement with BOKF [Member]
Line of Credit Note

Note 2 - Notes Payable and Lo26

Note 2 - Notes Payable and Long-term Debt - Summary of Credit Agreement and Line of Credit Note (Details) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Promissory Note with BOKF [Member]
Line of credit note, principal amount	$ 15,000,000	$ 15,000,000
Promissory Note and Business Loan Agreement with BOKF [Member]
Line of credit note, principal amount	$ 6,000,000	$ 6,000,000

Note 3 - Capital Lease Obliga27

Note 3 - Capital Lease Obligations (Details Textual) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Capital Leased Assets, Gross	$ 227,783
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	36,300	$ 21,400
Capital Lease Obligations, Current	72,686	72,686
Property and Equipment [Member]
Capital Leased Assets, Gross	217,114	210,904
Prepaid Equipment [Member]
Capital Leased Assets, Gross	$ 10,669	$ 16,879

Note 4 - Stock-based Compensa28

Note 4 - Stock-based Compensation (Details Textual) - USD ($)	1 Months Ended		9 Months Ended
	Feb. 28, 2017	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			9,005	33,685
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	0
Allocated Share-based Compensation Expense			$ 0	$ 0
2007 Director Non-Qualified Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Restricted Stock Plan [Member] | Restricted Stock [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options			$ 208,533
Restricted Stock Plan [Member] | Executive Officers, Non-employee Directors and Other Key Employees [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			300,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Restricted Stock Plan [Member] | Independent Director 1 Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,801	2,031
Restricted Stock Plan [Member] | Chief Executive Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		11,765
Restricted Stock Plan [Member] | Interim Chief Executive Officer, Interim President and 5 Directors [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		4 years
Restricted Stock Plan [Member] | Three Independent Directors [Member] | Restricted Stock [Member]
Allocated Share-based Compensation Expense			$ 104,000
Restricted Stock Plan [Member] | Independent Director 2 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,801	2,031
Restricted Stock Plan [Member] | Independent Director 3 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,801	2,031
Restricted Stock Plan [Member] | Independent Director 4 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,801	2,031
Restricted Stock Plan [Member] | Independent Directors 5 [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,801	2,031
Restricted Stock Plan [Member] | President [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		11,765

Note 4 - Stock-based Compensa29

Note 4 - Stock-based Compensation - Summary of Stock Option Activity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Outstanding, weighted average exercise price (in dollars per share)	$ 5.14	$ 5.17
Outstanding, number of shares (in shares)	56,400	68,400
Granted, number of shares (in shares)
Cancelled, weighted average exercise price (in dollars per share)	$ 5.14	$ 5.30
Cancelled, number of shares (in shares)	(12,000)	(12,000)
Exercised, weighted average exercise price (in dollars per share)	$ 5.14
Exercised, number of shares (in shares)	(44,400)
Exercised, weighted average remaining contractual term (Year)	3 years 361 days
Exercised, aggregate intrinsic value	$ 155,606
Outstanding, weighted average remaining contractual term (Year)		4 years 171 days
Outstanding, aggregate intrinsic value				$ 70,545
Exercisable, weighted average exercise price (in dollars per share)				$ 6.27
Exercisable, number of shares (in shares)		56,400		56,400
Exercisable, weighted average remaining contractual term (Year)		4 years 171 days
Exercisable, aggregate intrinsic value				$ 70,545
Cancelled, weighted average exercise price (in dollars per share)	$ (5.14)	$ (5.30)
Outstanding, weighted average exercise price (in dollars per share)		$ 6.27
Outstanding, number of shares (in shares)	56,400	68,400		56,400
Exercisable, number of shares (in shares)		56,400

Note 4 - Stock-based Compensa30

Note 4 - Stock-based Compensation - Activity for Nonvested Restricted Common Stock Awards (Details) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Balance, shares (in shares)	62,046	60,433
Balance, grant fair value (in dollars per share)	$ 8.24	$ 8.97
Granted, shares (in shares)	9,005	33,685
Granted, grant fair value (in dollars per share)	$ 8.05	$ 7.14
Forfeited, shares (in shares)	(5,403)	(8,187)
Forfeited, grant fair value (in dollars per share)	$ 8.05	$ 8.97
Vested, shares (in shares)	(28,847)	(20,784)
Vested, grant fair value (in dollars per share)	$ 7.84	$ 8.97
Balance, shares (in shares)	36,801	65,147
Balance, grant fair value (in dollars per share)	$ 7.93	$ 8.03

Note 4 - Stock-based Compensa31

Note 4 - Stock-based Compensation - Unrecognized Compensation Expense for Nonvested Restricted Stock Awards (Details)	Sep. 30, 2017USD ($)
2,017	$ 34,219
2,018	100,127
2,019	58,126
2,020	14,853
2,021	$ 1,208

Note 5 - Earnings Per Share (De

Note 5 - Earnings Per Share (Details Textual) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Weighted Average Number Diluted Shares Outstanding Adjustment	36,801	121,562

Note 5 - Earnings Per Share - C

Note 5 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income	$ 521,414	$ 1,000,350	$ 2,780,411	$ 4,342,262
Numerator for basic and diluted earnings per share	$ 521,414	$ 1,000,350	$ 2,780,411	$ 4,342,262
Denominator for basic EPS: weighted-average shares (in shares)	9,270,862	9,188,483	9,232,397	9,341,364
Effect of dilutive securities:
Effect of dilutive securities (in shares)	3,088	17,899	13,669	18,041
Denominator for diluted EPS-weighted-average shares (in shares)	9,273,950	9,206,382	9,246,066	9,359,405
Basic earnings per share (in dollars per share)	$ 0.06	$ 0.11	$ 0.30	$ 0.46
Diluted earnings per share (in dollars per share)	$ 0.06	$ 0.11	$ 0.30	$ 0.46
Employee Stock Option [Member]
Effect of dilutive securities:
Effect of dilutive securities (in shares)		16,933	9,810	17,279
Restricted Stock [Member]
Effect of dilutive securities:
Effect of dilutive securities (in shares)	3,088	966	3,859	762

Note 7 - Segment Information (D

Note 7 - Segment Information (Details Textual)	Sep. 30, 2017
Number of Stores	4
UNITED KINGDOM | International Leathercraft [Member]
Number of Stores	2
SPAIN | International Leathercraft [Member]
Number of Stores	1
AUSTRALIA | International Leathercraft [Member]
Number of Stores	1

Note 7 - Segment Information -

Note 7 - Segment Information - Summary of Reportable Operating Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Net sales	$ 18,388,381	$ 18,628,362	$ 57,818,996	$ 58,823,494
Gross profit	11,635,331	11,644,871	36,816,910	37,193,407
Operating income (loss)	650,275	1,540,059	4,043,203	6,741,740
Interest (expense)	(53,141)	(43,493)	(143,165)	(108,949)
Other income (expense), net	95,936	3,570	115,599	26,965
Income (loss) before income taxes	693,070	1,500,136	4,015,637	6,659,756
Depreciation and amortization	537,126	441,285	1,466,534	1,273,078
Fixed asset additions	525,641	487,424	1,530,547	1,385,431
Total assets	74,371,841	69,798,763	74,371,841	69,798,763	$ 70,652,720
Wholesale Leathercraft [Member]
Net sales	17,421,013	17,745,130	55,080,152	56,043,559
Gross profit	11,037,486	11,124,269	35,239,645	35,364,389
Operating income (loss)	649,797	1,589,071	4,276,247	6,644,592
Interest (expense)	(53,141)	(43,493)	(143,165)	(108,949)
Other income (expense), net	94,196	7,052	127,045	21,784
Income (loss) before income taxes	690,852	1,552,630	4,260,127	6,557,427
Depreciation and amortization	513,250	419,091	1,398,319	1,186,990
Fixed asset additions	523,546	485,347	1,508,426	1,330,446
Total assets	70,083,363	65,960,965	70,083,363	65,960,965
International Leathercraft [Member]
Net sales	967,368	883,232	2,738,844	2,779,935
Gross profit	597,845	520,602	1,577,265	1,829,018
Operating income (loss)	478	(49,012)	(233,044)	97,148
Interest (expense)
Other income (expense), net	1,740	(3,482)	(11,446)	5,181
Income (loss) before income taxes	2,218	(52,494)	(244,490)	102,329
Depreciation and amortization	23,876	22,194	68,215	86,088
Fixed asset additions	2,095	2,077	22,121	54,985
Total assets	$ 4,288,478	$ 3,837,798	$ 4,288,478	$ 3,837,798

Note 7 - Segment Information 36

Note 7 - Segment Information - Net Sales for Geographic Areas (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 18,388,381	$ 18,628,362	$ 57,818,996	$ 58,823,494
UNITED STATES
Net sales	15,551,725	15,955,084	49,380,463	50,293,346
CANADA
Net sales	1,653,051	1,597,652	5,072,785	5,085,955
All Other Countries [Member]
Net sales	$ 1,183,605	$ 1,075,626	$ 3,365,748	$ 3,444,193