Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 24, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'SUPERIOR UNIFORM GROUP INC | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 6,584,467 | ' |
Entity Public Float | ' | ' | $43,000,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000095574 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Net sales | $151,496,000 | $119,486,000 |
Costs and expenses: | ' | ' |
Cost of goods sold | 98,938,000 | 79,723,000 |
Selling and administrative expenses | 43,873,000 | 33,886,000 |
Intangible asset impairment | ' | 1,226,000 |
Interest expense | 195,000 | 30,000 |
143,006,000 | 114,865,000 | |
Income before taxes on income | 8,490,000 | 4,621,000 |
Taxes on income | 2,640,000 | 1,590,000 |
Net income | 5,850,000 | 3,031,000 |
(Basic) (in Shares) | 6,261,588 | 6,061,691 |
(Diluted) (in Shares) | 6,343,604 | 6,142,997 |
Basic | ' | ' |
Net earnings (in Dollars per share) | $0.93 | $0.50 |
Diluted | ' | ' |
Net earnings (in Dollars per share) | $0.92 | $0.49 |
Defined benefit pension plans: | ' | ' |
Amortization of prior service costs included in net periodic pension costs | 9,000 | 12,000 |
Recognition of net losses included innet periodic pension costs | 617,000 | 632,000 |
Recognition of settlement loss included in net periodic pension costs | 314,000 | ' |
Current period gains (losses) | 3,888,000 | -1,704,000 |
Loss on cash flow hedging activities | -85,000 | ' |
Other comprehensive income (loss) | 4,743,000 | -1,060,000 |
Comprehensive income | $10,593,000 | $1,971,000 |
Dividends per common share (in Dollars per share) | $0.14 | $1.08 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $5,316,000 | $3,554,000 |
Accounts receivable, less allowance for doubtful accounts of $560,000 and $725,000, respectively | 22,735,000 | 16,655,000 |
Accounts receivable - other | 4,133,000 | 2,995,000 |
Inventories | 49,486,000 | 39,246,000 |
Prepaid expenses and other current assets | 6,012,000 | 2,794,000 |
TOTAL CURRENT ASSETS | 87,682,000 | 65,244,000 |
PROPERTY, PLANT AND EQUIPMENT, NET | 13,160,000 | 8,723,000 |
OTHER INTANGIBLE ASSETS, NET | 18,353,000 | 559,000 |
GOODWILL | 4,135,000 | ' |
DEFERRED INCOME TAXES | 2,009,000 | 4,205,000 |
OTHER ASSETS | 155,000 | 182,000 |
125,494,000 | 78,913,000 | |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 8,363,000 | 6,629,000 |
Other current liabilities | 7,768,000 | 3,222,000 |
Current portion of long-term debt | 1,750,000 | ' |
TOTAL CURRENT LIABILITIES | 17,881,000 | 9,851,000 |
LONG-TERM DEBT | 24,500,000 | ' |
LONG-TERM PENSION LIABILITY | 3,617,000 | 10,468,000 |
ACQUISITION-RELATED CONTINGENT LIABILITY | 6,806,000 | ' |
OTHER LONG-TERM LIABILITIES | 625,000 | 736,000 |
DEFERRED INCOME TAXES | 130,000 | 70,000 |
SHAREHOLDERS' EQUITY: | ' | ' |
Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding 6,520,408 and 6,115,907, respectively. | 6,000 | 6,000 |
Additional paid-in capital | 25,828,000 | 21,288,000 |
Retained earnings | 49,315,000 | 44,451,000 |
Accumulated other comprehensive loss, net of tax: | ' | ' |
Pensions | -3,129,000 | -7,957,000 |
Cash flow hedges | -85,000 | ' |
TOTAL SHAREHOLDERS' EQUITY | 71,935,000 | 57,788,000 |
$125,494,000 | $78,913,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts receivable, allowance for doubtful accounts (in Dollars) | $560,000 | $725,000 |
Preferred stock, par value (in Dollars per share) | $1 | $1 |
Preferred stock, shares authorized | 300,000 | 300,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 6,520,408 | 6,115,907 |
Common stock, shares outstanding | 6,520,408 | 6,115,907 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders’ Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2011 | $6,000 | $19,347,000 | $48,590,000 | ($6,897,000) | $61,046,000 |
Balance (in Shares) at Dec. 31, 2011 | 5,993,062 | ' | ' | ' | ' |
Comprehensive Income (Loss): | ' | ' | ' | ' | ' |
Net earnings | ' | ' | 3,031,000 | ' | 3,031,000 |
Net change during the period related to: | ' | ' | ' | ' | ' |
Pensions, net of tax benefit | ' | ' | ' | -1,060,000 | -1,060,000 |
Comprehensive Income | ' | ' | ' | ' | 1,971,000 |
Common shares issued upon exercise of options | ' | 889,000 | ' | ' | 889,000 |
Common shares issued upon exercise of options (in Shares) | 138,252 | ' | ' | ' | 138,252 |
Common shares issued upon exercise of Stock Appreciation Rights (in Shares) | 10,324 | ' | ' | ' | ' |
Share-based compensation expense | ' | 893,000 | ' | ' | 893,000 |
Warrants exercised (in Shares) | 44,912 | ' | ' | ' | ' |
Common shares received as payment for stock options | ' | 282,000 | -282,000 | ' | ' |
Common shares received as payment for stock options (in Shares) | -34,073 | ' | ' | ' | ' |
Purchase and retirement of common shares | ' | -123,000 | -314,000 | ' | -437,000 |
Purchase and retirement of common shares (in Shares) | -36,570 | ' | ' | ' | -36,570 |
Cash dividends declared | ' | ' | -6,574,000 | ' | -6,574,000 |
Balance at Dec. 31, 2012 | 6,000 | 21,288,000 | 44,451,000 | -7,957,000 | 57,788,000 |
Balance (in Shares) at Dec. 31, 2012 | 6,115,907 | ' | ' | ' | 6,115,907 |
Comprehensive Income (Loss): | ' | ' | ' | ' | ' |
Net earnings | ' | ' | 5,850,000 | ' | 5,850,000 |
Net change during the period related to: | ' | ' | ' | ' | ' |
Cash flow hedges, net of taxes of $40,000 | ' | ' | ' | -85,000 | -85,000 |
Pensions, net of tax benefit | ' | ' | ' | 4,828,000 | 4,828,000 |
Comprehensive Income | ' | ' | ' | ' | 10,593,000 |
Common shares issued upon exercise of options | ' | 2,216,000 | ' | ' | 2,216,000 |
Common shares issued upon exercise of options (in Shares) | 206,441 | ' | ' | ' | 206,441 |
Restricted shares issued | ' | 1,555,000 | ' | ' | 1,555,000 |
Restricted shares issued (in Shares) | 208,617 | ' | ' | ' | ' |
Common shares issued upon exercise of Stock Appreciation Rights (in Shares) | 2,654 | ' | ' | ' | ' |
Share-based compensation expense | ' | 788,000 | ' | ' | 788,000 |
Tax benefit from exercise of stock options | ' | 31,000 | ' | ' | 31,000 |
Purchase and retirement of common shares | ' | -50,000 | -112,000 | ' | -162,000 |
Purchase and retirement of common shares (in Shares) | -13,211 | ' | ' | ' | -13,211 |
Cash dividends declared | ' | ' | -874,000 | ' | -874,000 |
Balance at Dec. 31, 2013 | $6,000 | $25,828,000 | $49,315,000 | ($3,214,000) | $71,935,000 |
Balance (in Shares) at Dec. 31, 2013 | 6,520,408 | ' | ' | ' | 6,520,408 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders’ Equity (Parentheticals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Cash dividends declared per share (in Dollars per share) | $0.14 | $1.08 |
Pensions, tax benefit | $2,506,000 | $549,000 |
Cash flow hedges, net of taxes | $40,000 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $5,850,000 | $3,031,000 |
Adjustments to reconcile net earnings to net cash provided from operating activities: | ' | ' |
Depreciation and amortization | 2,582,000 | 2,300,000 |
Provision for bad debts - accounts receivable | 161,000 | 74,000 |
Share-based compensation expense | 788,000 | 893,000 |
Deferred income tax benefit | -249,000 | -131,000 |
Gain on sale of property, plant and equipment | -12,000 | -1,000 |
Accretion of acquisition-related contingent liability | 63,000 | ' |
Intangible asset impairment | ' | 1,226,000 |
Changes in assets and liabilities, net of acquisition of business: | ' | ' |
Accounts receivable - trade | -1,569,000 | -787,000 |
Accounts receivable - other | -1,138,000 | 750,000 |
Inventories | 134,000 | 1,962,000 |
Prepaid expenses and other current assets | -2,122,000 | -269,000 |
Other assets | 27,000 | -75,000 |
Accounts payable | 1,734,000 | 688,000 |
Other current liabilities | 1,781,000 | -1,277,000 |
Pension liability | 482,000 | 773,000 |
Other long-term liabilities | -111,000 | 1,000 |
Net cash provided from operating activities | 8,401,000 | 9,158,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Additions to property, plant and equipment | -1,631,000 | -1,647,000 |
Disposals of property, plant and equipment | 14,000 | 1,000 |
Purchase of business | -32,483,000 | ' |
Net cash used in investing activities | -34,100,000 | -1,646,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from long-term debt | 44,740,000 | 29,360,000 |
Repayment of long-term debt | -18,490,000 | -30,000,000 |
Payment of cash dividends | -874,000 | -6,574,000 |
Proceeds received on exercise of stock options | 2,216,000 | 889,000 |
Excess tax benefit from exercise of stock options | 31,000 | ' |
Common stock reacquired and retired | -162,000 | -437,000 |
Net cash provided from (used in) financing activities | 27,461,000 | -6,762,000 |
Net increase in cash and cash equivalents | 1,762,000 | 750,000 |
Cash and cash equivalents balance, beginning of year | 3,554,000 | 2,804,000 |
Cash and cash equivalents balance, end of year | $5,316,000 | $3,554,000 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||
NOTE 1 – Summary of Significant Accounting Policies: | |||||||||||
a) Business description | |||||||||||
Superior Uniform Group®, through its Signature marketing brands—Fashion Seal®, Fashion Seal Healthcare®, HPI Direct®, Martin’s®, Worklon®, UniVogue® and Blade—manufactures and sells a wide range of uniforms, image apparel and accessories, primarily in domestic markets. Superior specializes in managing comprehensive uniform programs, and is dedicated to servicing the Healthcare, Hospitality, Restaurant/Food Services, Retail Employee I.D., Governmental/Public Safety, Entertainment, Commercial, and Cleanroom markets. The Company also provides remote staffing solutions through its direct and indirect subsidiaries and its affiliates, The Office Gurus, Ltda. De C.V., The Office Gurus, LLC, Power Three Web Ltda., and The Office Gurus, Ltd. | |||||||||||
b) Basis of presentation | |||||||||||
The consolidated interim financial statements include the accounts of Superior Uniform Group, Inc. and its wholly-owned subsidiaries, The Office Gurus, LLC, SUG Holding and Fashion Seal Corporation; The Office Gurus, LTDA. De C.V., The Office Masters, LTDA. De C.V. and The Office Gurus, Ltd., each a subsidiary of Fashion Seal Corporation and SUG Holding; and Power Three Web Ltda. and Superior Sourcing, each a wholly-owned subsidiary of SUG Holding. All of these entities are referred to collectively as “the Company”. | |||||||||||
c) Cash and cash equivalents | |||||||||||
The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. | |||||||||||
d) Revenue recognition and allowance for doubtful accounts | |||||||||||
The Company recognizes revenue as products are shipped and title passes and as services are provided. The Company collects sales tax for various taxing authorities. It is the Company’s policy to record these amounts on a net basis. Therefore, these amounts are not included in net sales for the Company. A provision for estimated returns and allowances is recorded based upon historical experience and current allowance programs. Judgments and estimates are used in determining the collectability of accounts receivable. The Company analyzes specific accounts receivable and historical bad debt experience, customer credit worthiness, current economic trends and the age of outstanding balances when evaluating the adequacy of the allowance for doubtful accounts. Management judgments and estimates are used in connection with establishing the allowance in any accounting period. Changes in estimates are reflected in the period they become known. Charge-offs of accounts receivable are made once all collection efforts have been exhausted. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. | |||||||||||
e) Accounts receivable-other | |||||||||||
The Company purchases raw materials and has them delivered to certain suppliers of the Company. The Company pays for the raw materials and then deducts the cost of these materials from payments to the suppliers at the time the related finished goods are invoiced to the Company by those suppliers. | |||||||||||
f) Advertising expenses | |||||||||||
The Company expenses advertising costs as incurred. Advertising costs for the years ended December 31, 2013 and 2012, respectively, were $89,000 and $51,000. | |||||||||||
g) Cost of goods sold and shipping and handling fees and costs | |||||||||||
Cost of goods sold consists primarily of direct costs of acquiring inventory, including cost of merchandise, inbound freight charges, purchasing and receiving costs, inspection costs, and warehousing costs for our Uniforms and Related Products segment. Cost of goods sold for our Remote Staffing Solutions segment includes salaries and payroll related benefits for agents. The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with out-bound freight are generally recorded in cost of goods sold. Other shipping and handling costs are included in selling and administrative expenses and totaled $7,053,000 and $5,458,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||
h) Inventories | |||||||||||
Inventories are stated at the lower of cost (first-in, first-out method) or market value. Judgments and estimates are used in determining the likelihood that goods on hand can be sold to customers. Historical inventory usage and current revenue trends are considered in estimating both excess and obsolete inventories. If actual product demand and market conditions are less favorable than those projected by management, additional inventory write-downs may be required. | |||||||||||
i) Property, plant and equipment | |||||||||||
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Major renewals and improvements are capitalized, while replacements, maintenance and repairs which do not improve or extend the life of the respective assets are expensed currently. Costs of assets sold or retired and the related accumulated depreciation and amortization are eliminated from accounts and the net gain or loss is reflected in the statement of earnings within selling and administrative expenses. | |||||||||||
j) Goodwill | |||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The Company tests goodwill for impairment annually as of December 31st and/or when an event occurs or circumstances change such that it is more likely than not that impairment may exist. Examples of such events and circumstances that the Company would consider include the following: | |||||||||||
• | macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; | ||||||||||
• | industry and market considerations such as a deterioration in the environment in which the Company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the Company's products or services, or a regulatory or political development; | ||||||||||
• | cost factors such as increases in raw materials, labor, or other costs that have a negative effect on earnings and cash flows; | ||||||||||
• | overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; | ||||||||||
• | other relevant entity-specific events such as changes in management, key personnel, strategy, or customers; | ||||||||||
Goodwill is tested at a level of reporting referred to as "the reporting unit." The Company's reporting units are defined as each of its two reporting segments with all of its goodwill included in the Uniforms and Related Products segment. | |||||||||||
An entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. The Company completed its assessment of the qualitative factors as of December 31, 2013 and determined that it was not more likely than not that the fair value of the reporting unit was less than its carrying value. | |||||||||||
k) Other intangible assets | |||||||||||
Other intangible assets consist of customer lists, a non-compete agreement and an acquired trade name acquired in previous business acquisitions. | |||||||||||
The breakdown of intangible assets as of December 31, 2013 and 2012 was as follows: | |||||||||||
Customer | Weighted | Non-compete | Weighted | ||||||||
Relationships | Average Life (years) | Agreement | Average Life (years) | ||||||||
31-Dec-13 | |||||||||||
Cost | $ | 10,221,000 | 9.6 | $ | 5,000,000 | 5 | |||||
Accumulated amortization | (1,068,000 | ) | (500,000 | ) | |||||||
Net | $ | 9,153,000 | $ | 4,500,000 | |||||||
Customer | License | ||||||||||
Relationships | Agreement | ||||||||||
31-Dec-12 | |||||||||||
Cost | $ | 1,021,000 | 7 | $ | 2,861,000 | 3.5 | |||||
Accumulated amortization | (462,000 | ) | (1,635,000 | ) | |||||||
Intangible asset impairment | - | (1,226,000 | ) | ||||||||
Net | $ | 559,000 | $ | - | |||||||
Amortization expense for other intangible assets was $1,106,000 and $964,000 for the years ended December 31, 2013 and 2012, respectively. Amortization expense for other intangible assets is expected to be $2,066,000 for each of the years ending December 2014 and 2015; $2,041,000 in 2016; $1,920,000 in 2017; $1,420,000 in 2018; $920,000 in each of the years ending December 31, 2019 through 2022; and $460,000 in 2023. The Company recognized a pre-tax, non-cash impairment charge of $1,226,000 in the fourth quarter of 2012 to write off the remaining balance of the licensing agreement. This impairment charge is included in the results of our Uniforms and Related Products segment. Refer to Note 6. | |||||||||||
As part of the acquisition of HPI in 2013, the Company recorded $4,700,000 as the fair value of the acquired trade name in other intangible assets. This asset is considered to be of an indefinite life and as such is not being amortized. | |||||||||||
l) Depreciation and amortization | |||||||||||
Plant and equipment are depreciated on the straight-line basis at 2.5% to 5% for buildings, 2.5% to 20% for improvements, 10% to 33.33% for machinery, equipment and fixtures and 20% to 33.33% for transportation equipment. Leasehold improvements are amortized over the terms of the leases inasmuch as such improvements have useful lives of at least the terms of the respective leases. | |||||||||||
m) Employee benefits | |||||||||||
Pension plan costs are funded currently based on actuarial estimates, with prior service costs amortized over 20 years. The Company recognizes settlement gains and losses in its financial statements when the cost of all settlements in a year is greater than the sum of the service cost and interest cost components of net periodic pension cost for the plan for the year. | |||||||||||
n) Insurance | |||||||||||
The Company self-insures for certain obligations related to employee health programs. The Company also purchases stop-loss insurance policies to protect it from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for losses that have occurred, but have not been reported. The Company's estimates consider historical claim experience and other factors. The Company's liabilities are based on estimates, and, while the Company believes that the accrual for loss is adequate, the ultimate liability may be in excess of or less than the amounts recorded. Changes in claim experience, the Company's ability to settle claims or other estimates and judgments used by management could have a material impact on the amount and timing of expense for any period. | |||||||||||
o) Taxes on income | |||||||||||
Income taxes are provided for under the liability method, whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The calculation of the Company’s tax liabilities also involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain income tax positions based on estimates of whether, and the extent to which, additional taxes will be required. The Company also reports interest and penalties related to uncertain income tax positions as income taxes. Refer to Note 8. | |||||||||||
p) Impairment of long-lived assets | |||||||||||
Long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of its carrying amount to future net cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. There was no impairment of long-lived assets for the year ended December 31, 2013. The Company recognized an impairment loss of $1,226,000 related to an intangible asset in the year ended 2012. Refer to Note 6. | |||||||||||
q) Share-based compensation | |||||||||||
The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. Historically, the Company has issued options and stock-settled stock appreciation rights. At December 31, 2013, the Company had 2,484,281 shares of common stock authorized for awards of share-based compensation under its 2013 Incentive Stock and Awards Plan. | |||||||||||
The Company recognizes share-based compensation expense for all awards granted to employees, which is based on the fair value of the award on the date of grant. Determining the appropriate fair value model and calculating the fair value of stock compensation awards requires the input of certain highly complex and subjective assumptions, including the expected life of the stock compensation awards and the Company’s common stock price volatility. The assumptions used in calculating the fair value of stock compensation awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change and the Company deems it necessary to use different assumptions, stock compensation expense could be materially different from what has been recorded in the current period. | |||||||||||
r) Earnings per share | |||||||||||
Historical basic per share data is based on the weighted average number of shares outstanding. Historical diluted per share data is reconciled by adding to weighted average shares outstanding the dilutive impact of the exercise of outstanding stock options and stock-settled stock appreciation rights. | |||||||||||
s) Comprehensive income | |||||||||||
Other comprehensive income (loss) is defined as the change in equity during a period, from transactions and other events, excluding changes resulting from investments by owners (e.g., supplemental stock offering) and distributions to owners (e.g., dividends). | |||||||||||
t) Operating segments | |||||||||||
FASB establishes standards for the way that public companies report information about operating segments in annual financial statements and establishes standards for related disclosures about product and services, geographic areas and major customers. The Company has reviewed the standard and determined that it has two reportable segments, Uniforms and Related Products and Remote Staffing Solutions. | |||||||||||
u) Risks and concentrations | |||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk include cash in banks in excess of federally insured amounts. The Company manages this risk by maintaining all deposits in high quality financial institutions and periodically performing evaluations of the relative credit standing of the financial institutions. When assessing credit risk the Company considers whether the credit risk exists at both the individual and group level. Consideration is given to the activity, region and economic characteristics when assessing if there exists a group concentration risk. At December 31, 2013 and 2012, the Company had no customer with an accounts receivable balance greater than 10% of the total accounts receivable. At December 31, 2013 and 2012, the accounts receivable balances for the Company’s five largest customers totaled $6,264,000 and $4,930,000, respectively, or approximately 27.6% and 29.6% of the respective total accounts receivable balances. The Company’s largest customer for each of the years ended December 31, 2013 and 2012 had net sales of approximately $10,110,000 and $8,412,000, respectively, or approximately 6.7% and 7.0% of the respective total net sales for the Company. The Company’s five largest customers for the year ended December 31, 2013 and 2012 had net sales of approximately $35,084,000 and $31,961,000, respectively, or approximately 23.2% and 26.7% of the respective total net sales for the Company. | |||||||||||
Included in accounts receivable-other on the Company’s consolidated balance sheets at December 31, 2013 and 2012 are receivable balances from a supplier in Haiti totaling $4,018,000 and $2,966,000, respectively. | |||||||||||
In 2013 and 2012, approximately 33% and 48%, respectively, of the Company’s products were obtained from suppliers located in Central America. Any inability by the Company to continue to obtain its products from Central America could significantly disrupt the Company’s business. Because the Company manufactures and sources products in Central America, the Company is affected by economic conditions in those countries, including increased duties, possible employee turnover, labor unrest and lack of developed infrastructure. | |||||||||||
v) Fair value of financial instruments | |||||||||||
The carrying amounts of cash and cash equivalents, receivables and accounts payable approximated fair value as of December 31, 2013 and 2012, because of the relatively short maturities of these instruments. The carrying amount of the Company’s long-term debt approximated fair value as the rates are adjustable based upon current market conditions. | |||||||||||
w) Use of estimates | |||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. |
Note_2_Allowance_for_Doubtful_
Note 2 - Allowance for Doubtful Accounts Receivable | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||
NOTE 2 - Allowance for Doubtful Accounts Receivable: | |||||||||
The activity in the allowance for doubtful accounts receivable was as follows: | |||||||||
2013 | 2012 | ||||||||
Balance at the beginning of year | $ | 725,000 | $ | 758,000 | |||||
Provision for bad debts | 161,000 | 74,000 | |||||||
Charge-offs | (337,000 | ) | (125,000 | ) | |||||
Recoveries | 11,000 | 18,000 | |||||||
Balance at the end of year | $ | 560,000 | $ | 725,000 | |||||
Note_3_Reserve_for_Sales_Retur
Note 3 - Reserve for Sales Returns and Allowances | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Reserve For Sales Returns And Allowances Disclosure [Abstract] | ' | ||||||||
Reserve For Sales Returns And Allowances Disclosure [Text Block] | ' | ||||||||
NOTE 3 - Reserve for Sales Returns and Allowances: | |||||||||
The activity in the reserve for sales returns and allowances was as follows: | |||||||||
2013 | 2012 | ||||||||
Balance at the beginning of year | $ | 178,000 | $ | 272,000 | |||||
Provision for returns and allowances | 3,062,000 | 2,203,000 | |||||||
Liability asumed in acquisition of business | 645,000 | - | |||||||
Actual returns and allowances paid to customers | (3,092,000 | ) | (2,297,000 | ) | |||||
Balance at the end of year | $ | 793,000 | $ | 178,000 | |||||
Note_4_Inventories
Note 4 - Inventories | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
NOTE 4 - Inventories: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Finished goods | $ | 37,259,000 | $ | 27,382,000 | |||||
Work in process | 111,000 | 71,000 | |||||||
Raw materials | 12,116,000 | 11,793,000 | |||||||
$ | 49,486,000 | $ | 39,246,000 | ||||||
Note_5_Property_Plant_and_Equi
Note 5 - Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
NOTE 5 - Property, Plant and Equipment: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 2,340,000 | $ | 1,790,000 | |||||
Buildings, improvements and leaseholds | 11,719,000 | 8,683,000 | |||||||
Machinery, equipment and fixtures | 40,292,000 | 47,007,000 | |||||||
54,351,000 | 57,480,000 | ||||||||
Accumulated depreciation and amortization | (41,191,000 | ) | (48,757,000 | ) | |||||
$ | 13,160,000 | $ | 8,723,000 | ||||||
Depreciation and amortization charges were approximately $1,476,000 and $1,336,000 in 2013 and 2012, respectively. |
Note_6_License_Agreement
Note 6 - License Agreement | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Intangible Assets Disclosure [Text Block] | ' |
NOTE 6 – License Agreement: | |
On January 4, 2011, the Company entered into a License and Distribution Agreement (the “License Agreement”) with EyeLevel Interactive, LLC (“Licensor”), a leading technology company, pursuant to which the Company was granted a license to market, promote, sell and distribute garments utilizing certain intellectual property of Licensor (the “Products”) to the Company’s current and potential clients. The License Agreement was to expire three years and 180 days following its effective date (the “Term”). | |
In conjunction with the execution of the License Agreement, the Company paid Licensor a license fee (the “License Fee”) equal to (1) $2.0 million cash, plus (2) a warrant to acquire 360,000 shares of the Company’s common stock (the “Warrant”) at the greater of the Company’s closing price as quoted on the Nasdaq Stock Market or the book value per share of the Company’s common stock as of the effective date of the agreement. This Warrant was exercisable until January 4, 2016, and had an exercise price of $10.63 per share. On March 6, 2012, Licensor exercised their warrant and acquired 44,912 shares of the Company’s stock in exchange for the surrender of the remainder of the warrant. The Company determined the fair value of the Warrant at $800,000 utilizing the Black-Scholes valuation model. Additionally, the Company incurred $61,000 in expenses associated with the acquisition of the License Agreement. The total capitalized cost of the License Agreement was $2,861,000 at inception. | |
During 2012, we concluded that we did not have adequate, verifiable cash flows to support recovery of the intangible asset, related to the License Agreement, on our statement of financial position at December 31, 2012. Therefore, we recorded a pre-tax, non-cash impairment charge of $1,226,000 in the fourth quarter of 2012 to write off the remaining balance of the License Agreement. The Company and Licensor agreed to terminate the License Agreement during the third quarter of 2013. |
Note_7_LongTerm_Debt
Note 7 - Long-Term Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Long-term Debt [Text Block] | ' | ||||||||
NOTE 7 - Long-Term Debt: | |||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Term loan payable to Fifth Third Bank, maturing July 1, 2018 | $ | 26,250,000 | $ | - | |||||
Note payable to Fifth Third Bank, pursuant to revolving credit agreement, maturing July 1,2018 | - | - | |||||||
$ | 26,250,000 | $ | - | ||||||
Less payments due within one year included in current liabilities | 1,750,000 | - | |||||||
Long-term debt less current maturities | $ | 24,500,000 | $ | - | |||||
Effective July 1, 2013, the Company entered into an amended and restated 5-year credit agreement with Fifth Third Bank that made available to the Company up to $15,000,000 on a revolving credit basis in addition to a $30,000,000 term loan utilized to finance the acquisition of substantially all of the assets of HPI Direct, Inc. as discussed in Note 16. Interest is payable on both the revolving credit agreement and the term loan at LIBOR (rounded up to the next 1/8th of 1%) plus 0.95% based upon the one-month LIBOR rate for U.S. dollar based borrowings (1.20% at December 31, 2013). The Company pays an annual commitment fee of 0.10% on the average unused portion of the commitment. The available balance under the credit agreement is reduced by outstanding letters of credit. As of December 31, 2013, there were no balances outstanding under letters of credit. | |||||||||
On October 22, 2013, the credit agreement was amended to, among other things, increase the amount of permitted investments in subsidiaries that are not parties to the credit and related agreements, from $1 million to $5 million. | |||||||||
In order to reduce interest rate risk on the term loan, the Company entered into an interest rate swap agreement with Fifth Third Bank, N.A. in July 2013 that was designed to effectively convert or hedge the variable interest rate on a portion of this borrowing to achieve a net fixed rate of 2.53% per annum, beginning July 1, 2014 with a notional amount of $14,250,000 that is adjusted to match the outstanding principal on the related debt. The notional amount of the interest rate swap is reduced by the scheduled amortization of the principal balance of the term loan of $187,500 per month through July 1, 2015 and $250,000 per month through June 1, 2018. The remaining notional balance of $3,250,000 will be eliminated at the maturity of the term loan on July 1, 2018. | |||||||||
Under the terms of the interest rate swap, the Company will receive variable interest rate payments and make fixed interest rate payments on an amount equal to the notional amount at that time. Changes in the fair value of the interest rate swap designated as the hedging instrument that effectively offset the variability of cash flows associated with the variable-rate, long-term debt obligation are reported in OCI, net of related income tax effects. At December 31, 2013, the interest rate swap had a negative fair value of $125,000, which is presented within other current liabilities within the Consolidated Balance Sheet. The entire change of $125,000, net of tax benefit of $40,000, since the inception of the hedge in July 2013 has been recorded within OCI for the year ended December 31, 2013. The Company does not currently expect any of those losses to be reclassified into earnings over the subsequent twelve-month period. | |||||||||
The remaining scheduled amortization for the term loan is as follows: 2014 $1,750,000; 2015 $2,625,000; 2016 $3,000,000; 2017 $3,000,000; 2018 $15,875,000. The term loan does not include a prepayment penalty. In connection with the credit agreement, the Company incurred approximately $68,000 of debt financing costs, which primarily consisted of legal fees. These costs are being amortized over the life of the credit agreement and are recorded as additional interest expense. | |||||||||
The amended and restated credit agreement with Fifth Third Bank is secured by substantially all of the operating assets of Superior Uniform Group, Inc. and is guaranteed by all domestic subsidiaries of Superior Uniform Group, Inc. The agreement contains restrictive provisions concerning a maximum funded senior indebtedness to EBITDA ratio as defined in the agreement (3.5:1), a maximum funded indebtedness to EBITDA ratio as defined in the agreement (4.0:1) and fixed charge coverage ratio (1.25:1). The Company is in full compliance with all terms, conditions and covenants of the credit agreement. |
Note_8_Taxes_on_Income
Note 8 - Taxes on Income | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||
NOTE 8 – Taxes on Income: | |||||||||
Aggregate income tax provisions consist of the following: | |||||||||
2013 | 2012 | ||||||||
Current: | |||||||||
Federal | $ | 2,620,000 | $ | 1,508,000 | |||||
State and local | 269,000 | 213,000 | |||||||
2,889,000 | 1,721,000 | ||||||||
Deferred tax benefit | (249,000 | ) | (131,000 | ) | |||||
$ | 2,640,000 | $ | 1,590,000 | ||||||
The significant components of the deferred income tax asset (liability) are as follows: | |||||||||
2013 | 2012 | ||||||||
Deferred income tax assets: | |||||||||
Pension accruals | $ | 1,794,000 | $ | 4,300,000 | |||||
Operating reserves and other accruals | 861,000 | 1,385,000 | |||||||
Tax carrying value in excess of book basis of goodwill | 545,000 | 323,000 | |||||||
Deferred income tax liabilities: | |||||||||
Book carrying value in excess of tax basis of property | (605,000 | ) | (549,000 | ) | |||||
Deferred expenses | (716,000 | ) | (1,324,000 | ) | |||||
Net deferred income tax asset | $ | 1,879,000 | $ | 4,135,000 | |||||
The difference between the total statutory Federal income tax rate and the actual effective income tax rate is accounted for as follows: | |||||||||
2013 | 2012 | ||||||||
Statutory Federal income tax rate | 34 | % | 34 | % | |||||
State and local income taxes, net of Federal income tax benefit | 2.3 | 3 | |||||||
Effect of change in unrecognized tax benefit | (2.0 | ) | (1.1 | ) | |||||
Untaxed foreign income | (6.0 | ) | (9.1 | ) | |||||
Non-deductible share-based employee compensation expense | 2.3 | 4.6 | |||||||
Non-deductible portion of intangible asset impairment | 0 | 1.8 | |||||||
Other items | 0.5 | 1.2 | |||||||
Effective income tax rate | 31.1 | % | 34.4 | % | |||||
Only tax positions that meet the more-likely-than-not recognition threshold are recognized in the consolidated financial statements. | |||||||||
As of December 31, 2013 and 2012, respectively, we have $625,000 and $736,000 of unrecognized tax benefits, all of which, if recognized, would favorably affect the annual effective income tax rate. We do not expect any significant amount of this liability to be paid in the next twelve months. Accordingly, the balance of $625,000 is included in other long-term liabilities. | |||||||||
Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows: | |||||||||
2013 | 2012 | ||||||||
Balance at January 1, | $ | 565,000 | $ | 582,000 | |||||
Additions based on tax positions related to the current year | 59,000 | 68,000 | |||||||
Additions for tax positions of prior years | 1,000 | (10,000 | ) | ||||||
Reductions due to audits by taxing jurisdictions | (50,000 | ) | - | ||||||
Reductions due to lapse of statute of limitations | (78,000 | ) | (75,000 | ) | |||||
Balance at December 31, | $ | 497,000 | $ | 565,000 | |||||
We recognize interest and penalties accrued related to unrecognized tax benefits in the provision for income taxes. During 2013 and 2012, we recorded $45,000 and $46,000 respectively, for interest and penalties, net of tax benefits. During 2013 and 2012, we reduced the liability by $65,000 and $29,000, respectively, of interest and penalties due to lapse of statute of limitations and an adjustment to the expected interest rate. Additionally, the accrued interest and penalties balance was reduced by $23,000 as a result of payments made during 2013 related to audits completed during the year. At December 31, 2013 and 2012, we had $128,000 and $171,000, respectively, accrued for interest and penalties, net of tax benefit. | |||||||||
We anticipate that it is reasonably possible that the total amount of unrecognized tax benefits could decrease by approximately $117,000 within the next 12 months due to the closure of tax years by expiration of the statute of limitations and audit settlements related to various state tax filing positions. The earliest year open to federal examinations is 2010 and significant state examination is 2004. | |||||||||
We have not provided deferred taxes on undistributed earnings attributable to foreign operations that have been considered to be reinvested indefinitely. These earnings relate to ongoing operations and were $7,266,000 and $5,578,000 at December 31, 2013 and 2012, respectively. It is not practical to determine the income tax liability that would be payable if such earnings were not indefinitely reinvested. |
Note_9_Benefit_Plans
Note 9 - Benefit Plans | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||||||||||
NOTE 9 – Benefit Plans: | ||||||||||||||||||||||
Defined Benefit Plans | ||||||||||||||||||||||
The Company is the sponsor of two noncontributory qualified defined benefit pension plans, providing for normal retirement at age 65, covering all eligible employees (as defined). Periodic benefit payments on retirement are determined based on a fixed amount applied to service or determined as a percentage of earnings prior to retirement. The Company is also the sponsor of an unfunded supplemental executive retirement plan (SERP) in which several of its employees are participants. Pension plan assets for retirement benefits consist primarily of fixed income securities and common stock equities. | ||||||||||||||||||||||
Effective June 30, 2013, the Company no longer accrues additional benefits for future service or for future increases in compensation levels for the company’s primary defined benefit pension plan. The curtailment gain included in the table in this note was recognized as a result of this change. | ||||||||||||||||||||||
The Company recognizes the funded status of its defined benefit post retirement plans in the Company’s consolidated balance sheets. | ||||||||||||||||||||||
At December 31, 2013, the Company’s projected benefit obligation under its pension plans exceeded the fair value of the plans’ assets by $3,617,000 and thus the plans are underfunded. | ||||||||||||||||||||||
It is our policy to make contributions to the various plans in accordance with statutory funding requirements and any additional funding that may be deemed appropriate. | ||||||||||||||||||||||
The following tables present the changes in the benefit obligations and the various plan assets, the funded status of the plans, and the amounts recognized in the Company's consolidated balance sheets at December 31, 2013 and 2012: | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Changes in benefit obligation | ||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 27,819,000 | $ | 23,897,000 | ||||||||||||||||||
Service cost | 364,000 | 595,000 | ||||||||||||||||||||
Interest cost | 1,016,000 | 1,023,000 | ||||||||||||||||||||
Actuarial (gain) loss | (2,810,000 | ) | 3,469,000 | |||||||||||||||||||
Curtailment gain | (1,990,000 | ) | - | |||||||||||||||||||
Benefits paid | (2,766,000 | ) | (1,165,000 | ) | ||||||||||||||||||
Benefit obligation at end of year | 21,633,000 | 27,819,000 | ||||||||||||||||||||
Changes in plan assets | ||||||||||||||||||||||
Fair value of plan assets at beginning of year | 17,351,000 | 15,811,000 | ||||||||||||||||||||
Actual return on assets | 2,431,000 | 2,155,000 | ||||||||||||||||||||
Employer contributions | 1,000,000 | 550,000 | ||||||||||||||||||||
Benefits paid | (2,766,000 | ) | (1,165,000 | ) | ||||||||||||||||||
Fair value of plan assets at end of year | 18,016,000 | 17,351,000 | ||||||||||||||||||||
Funded status at end of year | $ | (3,617,000 | ) | $ | (10,468,000 | ) | ||||||||||||||||
Amounts recognized in consolidated balance sheet | ||||||||||||||||||||||
Long-term pension liability | $ | (3,617,000 | ) | $ | (10,468,000 | ) | ||||||||||||||||
Amounts recognized in accumulated other comprehensive income consist of: | ||||||||||||||||||||||
Net actuarial loss | $ | 4,903,000 | $ | 12,223,000 | ||||||||||||||||||
Prior service cost | - | 13,000 | ||||||||||||||||||||
$ | 4,903,000 | $ | 12,236,000 | |||||||||||||||||||
Information for pension plans with projected benefit obligation in excess of plan assets | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Projected benefit obligation | $ | 21,633,000 | $ | 27,819,000 | ||||||||||||||||||
Fair value of plan assets | (18,016,000 | ) | (17,351,000 | ) | ||||||||||||||||||
$ | 3,617,000 | $ | 10,468,000 | |||||||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||||||||
Net periodic benefits cost | 2013 | 2012 | ||||||||||||||||||||
Service cost - benefits earned during the period | $ | 364,000 | $ | 595,000 | ||||||||||||||||||
Interest cost on projected benefit obligation | 1,016,000 | 1,023,000 | ||||||||||||||||||||
Expected return on plan assets | (1,325,000 | ) | (1,270,000 | ) | ||||||||||||||||||
Amortization of prior service cost | 13,000 | 17,000 | ||||||||||||||||||||
Recognized actuarial loss | 938,000 | 957,000 | ||||||||||||||||||||
Settlement loss | 476,000 | - | ||||||||||||||||||||
Net periodic pension cost after settlements | $ | 1,482,000 | $ | 1,322,000 | ||||||||||||||||||
The pension settlement loss included in the table above relates to lump sum payments made to various employees upon their retirement or termination each year. | ||||||||||||||||||||||
The estimated net actuarial loss and prior service cost for the defined benefit pension plans that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year are $324,000 and $-0-, respectively. | ||||||||||||||||||||||
The table below presents various assumptions used in determining the benefit obligation for each year and reflects the percentages for the various plans. | ||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations at December 31, | ||||||||||||||||||||||
Discount Rate | Long Term Rate | Salary Scale | ||||||||||||||||||||
of Return | ||||||||||||||||||||||
Corp. | Plants | Corp. | Plants | Corp. | Plants | |||||||||||||||||
2012 | 3.93 | % | 3.77 | % | 8 | % | 8 | % | 3 | % | N/A | |||||||||||
2013 | 4.82 | % | 4.66 | % | 8 | % | 8 | % | 0 | % | N/A | |||||||||||
Weighted-average assumptions used to determine net periodic benefit cost for years ending December 31, | ||||||||||||||||||||||
Discount Rate | Long Term Rate | Salary Scale | ||||||||||||||||||||
of Return | ||||||||||||||||||||||
Corp. | Plants | Corp. | Plants | Corp. | Plants | |||||||||||||||||
2012 | 4.35 | % | 4.23 | % | 8 | % | 8 | % | 3.5 | % | N/A | |||||||||||
2013 | 3.93 | % | 3.77 | % | 8 | % | 8 | % | 3 | % | N/A | |||||||||||
The methodology used to determine the expected rate of return on the pension plan assets was based on a review of actual returns in the past and consideration of projected returns based upon our projected asset allocation. Our strategy with respect to our investments in pension plan assets is to be invested with a long-term outlook. Therefore, the risk and return balance of our asset portfolio should reflect a long-term horizon. Our pension plan asset allocation at December 31, 2012, 2013 and target allocation for 2014 are as follows: | ||||||||||||||||||||||
Percentage of Plan | Target Allocation | |||||||||||||||||||||
Assets at | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | 2014 | ||||||||||||||||||||
Investment description | ||||||||||||||||||||||
Equity securities | 59 | % | 73 | % | 62 | % | ||||||||||||||||
Fixed income | 16 | % | 22 | % | 18 | % | ||||||||||||||||
Other | 25 | % | 5 | % | 20 | % | ||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||
The Company plans to contribute $50,000 to our defined benefit pension plans in 2014. | ||||||||||||||||||||||
The following table includes projected benefit payments for the years indicated: | ||||||||||||||||||||||
Year | Projected Benefit Payments | |||||||||||||||||||||
2014 | $ | 1,301,000 | ||||||||||||||||||||
2015 | $ | 2,616,000 | ||||||||||||||||||||
2016 | $ | 2,218,000 | ||||||||||||||||||||
2017 | $ | 2,281,000 | ||||||||||||||||||||
2018 | $ | 1,483,000 | ||||||||||||||||||||
2019-2023 | $ | 10,384,000 | ||||||||||||||||||||
Defined Contribution Plan | ||||||||||||||||||||||
The Company provides a defined contribution plan covering qualified employees. The plan includes a provision that allows employees to make pre-tax contributions under Section 401(k) of the Internal Revenue Code. The plan provides for the Company to make a guaranteed match equal to 25% of each employee’s eligible contributions. The plan also provides the Company with the option of making an additional discretionary contribution to the plan each year. Currently the discretionary contribution is set at 3% of eligible employees’ payroll. The Company contributions for the years ended December 31, 2013 and 2012 were approximately $292,000 and $120,000, respectively. |
Note_10_Quarterly_Results_for_
Note 10 - Quarterly Results for 2012 and 2013 | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||||
NOTE 10 – Quarterly Results for 2012 and 2013 (Unaudited): | ||||||||||||||||||
Quarter Ended | ||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||||||
Net sales | $ | 28,508,000 | $ | 29,335,000 | $ | 30,599,000 | $ | 31,044,000 | ||||||||||
Gross profit | $ | 9,462,000 | $ | 9,662,000 | $ | 10,032,000 | $ | 10,607,000 | ||||||||||
Income before taxes on income | $ | 537,000 | $ | 1,567,000 | $ | 1,692,000 | $ | 825,000 | ||||||||||
Net income | $ | 327,000 | $ | 977,000 | $ | 1,242,000 | $ | 485,000 | ||||||||||
Per Share Data: | ||||||||||||||||||
Basic | ||||||||||||||||||
Net income | $ | 0.05 | $ | 0.16 | $ | 0.2 | $ | 0.08 | ||||||||||
Diluted | ||||||||||||||||||
Net income | $ | 0.05 | $ | 0.16 | $ | 0.2 | $ | 0.08 | ||||||||||
Average Outstanding Shares (Basic) | 6,025,874 | 6,066,244 | 6,063,269 | 6,091,377 | ||||||||||||||
Average Outstanding Shares (Diluted) | 6,142,616 | 6,140,986 | 6,148,012 | 6,140,372 | ||||||||||||||
Quarter Ended | ||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||||
Net sales | $ | 30,985,000 | $ | 30,854,000 | $ | 44,184,000 | $ | 45,473,000 | ||||||||||
Gross profit | $ | 11,313,000 | $ | 11,178,000 | $ | 15,040,000 | $ | 15,027,000 | ||||||||||
Income before taxes on income | $ | 1,749,000 | $ | 2,068,000 | $ | 2,128,000 | $ | 2,545,000 | ||||||||||
Net income | $ | 1,229,000 | $ | 1,438,000 | $ | 1,508,000 | $ | 1,675,000 | ||||||||||
Per Share Data: | ||||||||||||||||||
Basic | ||||||||||||||||||
Net income | $ | 0.2 | $ | 0.23 | $ | 0.24 | $ | 0.26 | ||||||||||
Diluted | ||||||||||||||||||
Net income | $ | 0.2 | $ | 0.23 | $ | 0.24 | $ | 0.25 | ||||||||||
Average Outstanding Shares (Basic) | 6,121,180 | 6,126,323 | 6,346,260 | 6,452,587 | ||||||||||||||
Average Outstanding Shares (Diluted) | 6,169,475 | 6,170,121 | 6,403,893 | 6,630,926 | ||||||||||||||
Note_11_Rentals
Note 11 - Rentals | 12 Months Ended |
Dec. 31, 2013 | |
Leases, Operating [Abstract] | ' |
Operating Leases of Lessee Disclosure [Table Text Block] | ' |
NOTE 11 – Rentals: | |
Aggregate rent expense, including month-to-month rentals, approximated $184,000 and $164,000 for the years ended December 31, 2013 and 2012, respectively. Long-term lease commitments totaling $75,000 are as follows: 2014 - $43,000; 2015 - $15,000; 2016 - $14,000; and 2017 - $3,000. |
Note_12_Contingencies
Note 12 - Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
NOTE 12 – Contingencies: | |
The Company is involved in various legal actions and claims arising from the normal course of business. In the opinion of management, the ultimate outcome of these matters will not have a material impact on the Company’s results of operations, cash flows, or financial position. | |
During 2005, the Company entered into severance protection agreements with senior management. The terms of these agreements require the Company to potentially make certain payments to members of senior management in the event of a change in control of the Company. |
Note_13_ShareBased_Compensatio
Note 13 - Share-Based Compensation | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||
NOTE 13 – Share-Based Compensation: | ||||||||||||||||
In 2003, the stockholders of the Company approved the 2003 Incentive Stock and Awards Plan (the “2003 Plan”), authorizing the granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, performance stock and other stock based compensation. This plan expired in May of 2013, at which time, the stockholders of the Company approved the 2013 Incentive Stock and Awards Plan (the “2013 Plan”), authorizing the granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, performance stock and other stock based compensation. A total of 2,500,000 shares of common stock (subject to adjustment for expirations and cancellations of options outstanding from the 2003 Plan subsequent to its termination) have been reserved for issuance under the 2013 Plan. All awards under both plans have been or will be granted at prices at least equal to the fair market value of the shares on the date of grant. Awards (all of which are exercisable at each respective year end) granted to date under both plans are exercisable in part or in full within five years of grant date with the exception of annual grants to outside directors which are exercisable in part or in full within ten years of grant date. Proceeds from the exercise of awards are credited to common stock to the extent of par value, and the balance is credited to additional paid-in capital. At December 31, 2013, the Company had 2,484,281 shares of common stock authorized for awards of share-based compensation under the 2013 Plan. A summary of option transactions during the two years ended December 31, 2013 follows: | ||||||||||||||||
No. of | Weighted Average | |||||||||||||||
Shares | Exercise Price | |||||||||||||||
Outstanding December 31, 2011 | 671,500 | $ | 10.66 | |||||||||||||
Granted | 194,223 | 12.62 | ||||||||||||||
Exercised | (138,252 | ) | 9.32 | |||||||||||||
Lapsed | (86,400 | ) | 12.57 | |||||||||||||
Cancelled | (26,154 | ) | 12.37 | |||||||||||||
Outstanding December 31, 2012 | 614,917 | $ | 11.24 | |||||||||||||
Granted | 202,884 | 11.43 | ||||||||||||||
Exercised | (206,441 | ) | 10.73 | |||||||||||||
Lapsed | (31,150 | ) | 10.68 | |||||||||||||
Cancelled | (23,181 | ) | 11.67 | |||||||||||||
Outstanding December 31, 2013 | 557,029 | $ | 11.51 | |||||||||||||
At December 31, 2013, options outstanding, all of which were fully vested and exercisable, had an intrinsic value of $2,214,000. | ||||||||||||||||
Options exercised during the years ended December 31, 2013 and 2012, had intrinsic values of $796,000 and $269,000, respectively. | ||||||||||||||||
The weighted average fair value of options granted for each of the years ended December 31, 2013 and 2012, was $3.01 and $3.38, respectively. | ||||||||||||||||
The following table summarizes information about stock options outstanding as of December 31, 2013: | ||||||||||||||||
Range of | Shares | Weighted Average Remaining | Weighted Average | |||||||||||||
Exercise Price | Contractual Life (Years) | Exercise Price | ||||||||||||||
$7.63 | - | $9.80 | 97,094 | 2.28 | $ | 9.45 | ||||||||||
$11.10 | - | $13.15 | 449,935 | 3.57 | $ | 11.86 | ||||||||||
$16.00 | 10,000 | 0.33 | $ | 16 | ||||||||||||
$7.63 | - | $16.00 | 557,029 | 3.29 | $ | 11.51 | ||||||||||
A summary of stock-settled stock appreciation rights (SARS") transactions during the two years ended December 31, 2013 follows: | ||||||||||||||||
No. of | Weighted Average | |||||||||||||||
Shares | Exercise Price | |||||||||||||||
Outstanding December 31, 2011 | 257,424 | $ | 11.32 | |||||||||||||
Granted | 65,752 | 13.15 | ||||||||||||||
Exercised | (134,304 | ) | 11.67 | |||||||||||||
Lapsed | - | - | ||||||||||||||
Cancelled | (12,396 | ) | 13.15 | |||||||||||||
Outstanding December 31, 2012 | 176,476 | $ | 11.6 | |||||||||||||
Granted | 59,716 | 11.29 | ||||||||||||||
Exercised | (9,786 | ) | 11.73 | |||||||||||||
Lapsed | - | - | ||||||||||||||
Cancelled | - | - | ||||||||||||||
Outstanding December 31, 2013 | 226,406 | $ | 11.52 | |||||||||||||
At December 31, 2013, SARS outstanding, all of which were fully vested and exercisable, had an aggregate intrinsic value of $898,000. | ||||||||||||||||
There were 9,786 SARS exercised during the year ended December 31, 2013. SARS exercised during the year ended December 31, 2013 had an intrinsic value of $36,000. There were 134,304 SARS exercised during the year ended December 31, 2012. SARS exercised during the year ended December 31, 2012 had an intrinsic value of $122,000. | ||||||||||||||||
The weighted average fair value of SARS granted for each of the years ended December 31, 2013 and 2012 was $2.97 and $3.59, respectively. | ||||||||||||||||
The following table summarizes information about SARS as of December 31, 2013: | ||||||||||||||||
Range of | SARS | Weighted Average Remaining | Weighted Average | |||||||||||||
Exercise Price | Contractual Life (Years) | Exercise Price | ||||||||||||||
$9.80 | 26,184 | 1.08 | $ | 9.8 | ||||||||||||
$11.24 | - | $13.15 | 200,222 | 2.89 | $ | 11.74 | ||||||||||
$9.80 | - | $13.15 | 226,406 | 2.68 | $ | 11.52 | ||||||||||
At December 31, options and SARS available to issue were 2,484,281 for 2013 and 1,284,675 for 2012. Options and SARS have never been repriced by the Company in any year. | ||||||||||||||||
The following table summarizes significant assumptions utilized to determine the fair value of share-based compensation awards: | ||||||||||||||||
SARS | Options | |||||||||||||||
Exercise price | ||||||||||||||||
2013 | $ | 11.29 | $11.29 | - | $11.76 | |||||||||||
2012 | $ | 13.15 | $11.72 | - | $13.15 | |||||||||||
Market price | ||||||||||||||||
2013 | $ | 11.29 | $11.29 | - | $11.76 | |||||||||||
2012 | $ | 13.15 | $11.72 | - | $13.15 | |||||||||||
Risk free interest rate (1) | ||||||||||||||||
2013 | 0.9 | % | 0.90% | - | 1.70% | |||||||||||
2012 | 0.8 | % | 0.70% | - | 1.90% | |||||||||||
Expected award life (years) (2) | 5 | 5 | - | 10 | ||||||||||||
Expected volatility (3) | ||||||||||||||||
2013 | 46 | % | 36.70% | - | 46.00% | |||||||||||
2012 | 45.1 | % | 36.40% | - | 45.90% | |||||||||||
Expected dividend yield (4) | ||||||||||||||||
2013 | 4.8 | % | 4.60% | - | 4.80% | |||||||||||
2012 | 4.1 | % | 4.10% | - | 4.60% | |||||||||||
(1) The risk-free interest rate is based on the yield of a U.S. treasury bond with a similar maturity as the expected life of the awards. | ||||||||||||||||
(2) The expected life in years for awards granted was based on the historical exercise patterns experienced by the Company when the award is made. | ||||||||||||||||
(3) The determination of expected stock price volatility for awards granted in each of the two years ended December 31, was based on historical Superior common stock prices over a period commensurate with the expected life. | ||||||||||||||||
(4) The dividend yield assumption is based on the history and expectation of the Company’s dividend payouts. | ||||||||||||||||
For the years ended December 31, 2013 and 2012, the Company recognized $788,000 and $893,000, respectively, of pre-tax share-based compensation expense, recorded in selling and administrative expense in the consolidated statements of comprehensive income. These expenses were offset by $72,000 and $96,000, respectively, of deferred tax benefits for non-qualified share–based compensation. As of December 31, 2013, the Company had no unrecognized compensation cost for share-based awards based upon the Company’s standard vesting policies, which provide for immediate vesting at the date of grant. | ||||||||||||||||
During the years ended December 31, 2013 and 2012, the Company received $2,216,000 and $889,000, respectively, in cash from stock option exercises. Current tax benefits of $270,000 and $60,000, respectively, were recognized for these exercises. Additionally, during the year ended December 31, 2012, the Company received 34,073 shares of its common stock as payment for the issuance of 41,596 shares of its common stock related to the exercise of stock option agreements. |
Note_14_Earnings_Per_Share
Note 14 - Earnings Per Share | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share [Text Block] | ' | ||||||||
NOTE 14 – Earnings Per Share: | |||||||||
The following table represents a reconciliation of basic and diluted earnings per share: | |||||||||
2013 | 2012 | ||||||||
Net earnings used in the computation of basic and diluted earnings per share | $ | 5,850,000 | $ | 3,031,000 | |||||
Weighted average shares outstanding - basic | 6,261,588 | 6,061,691 | |||||||
Common stock equivalents | 82,016 | 81,306 | |||||||
Total weighted average shares outstanding - diluted | 6,343,604 | 6,142,997 | |||||||
Per Share Data: | |||||||||
Basic | |||||||||
Net earnings | $ | 0.93 | $ | 0.5 | |||||
Diluted | |||||||||
Net earnings | $ | 0.92 | $ | 0.49 | |||||
Awards to purchase an average of 225,556 shares of common stock with a weighted average exercise price of $12.79 per share were outstanding during 2013 but were not included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. Awards to purchase an average of 259,131 shares of common stock with a weighted average exercise price of $12.98 per share were outstanding during 2012 but were not included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. |
Note_15_Accrued_Expenses
Note 15 - Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
NOTE 15 – Accrued Expenses: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Salaries, wages, commissions and vacation pay | $ | 5,607,000 | $ | 2,510,000 | |||||
Accrued rebates | 826,000 | 143,000 | |||||||
Other accrued expenses | 1,335,000 | 569,000 | |||||||
$ | 7,768,000 | $ | 3,222,000 | ||||||
Note_16_Acquisition_of_Busines
Note 16 - Acquisition of Business: | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||
NOTE 16 – Acquisition of Business: | |||||||||
On July 1, 2013, the Company acquired substantially all of the assets of HPI Direct, Inc. (“HPI”). Since 1993, HPI has built a stellar reputation for quality and responsiveness as a privately owned company specializing in the design, manufacture and distribution of uniforms to major domestic retailers, foodservice chains, transportation and other service industries throughout the United States. HPI’s award-winning image apparel is worn by some of the most prestigious brands in the markets that they serve. The purchase price for the asset acquisition consists of approximately $32.5 million in cash, subject to adjustment and inclusive of the real estate purchase described below, the issuance of approximately 209,000 restricted shares of Superior Uniform Group’s common stock, the potential future payment of up to $7.2 million in additional contingent consideration through 2017, and the assumption of certain liabilities of HPI. The transaction also includes the acquisition of the corporate offices and warehouse distribution facility from an entity related to HPI. | |||||||||
The foregoing description of the asset purchase agreement and real estate purchase agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of those agreements, which are incorporated herein by reference. These agreements have been provided to investors with information regarding their respective terms. The provision of these agreements is not intended to modify or supplement any factual disclosures about the Company in its public reports filed with the Securities and Exchange Commission and it is not intended to be, and should not be relied upon as, disclosures regarding any facts and circumstances relating to the Company or HPI. In particular, the representations, warranties and covenants set forth in each agreement (a) were made solely for purposes of the agreement and solely for the benefit of the contracting parties, (b) may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made to a contracting party in connection with the agreement, (c) in certain cases, will survive for only a limited period of time, (d) are qualified in certain circumstances by a materiality standard which may differ from what may be viewed as material by investors, (e) were made only as of the date of the agreement or such other date as is specified in the agreement, and (f) may have been included in the agreement for the purpose of allocating risk between the parties rather than establishing matters as facts. Investors are not third-party beneficiaries under the agreements, and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or conditions of the parties. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the agreement, which subsequent information may or may not be fully reflected in subsequent public disclosures. Accordingly, the representations and warranties in the agreements should not be viewed or relied upon as statements of actual facts or the actual state of affairs of the Company or any of their its subsidiaries or affiliates. | |||||||||
Fair Value of Consideration Transferred | |||||||||
A summary of the purchase price is as follows: | |||||||||
Cash consideration at closing | $ | 32,483,000 | |||||||
Restricted shares of Superior common stock issued | 1,555,000 | ||||||||
Total Consideration | $ | 34,038,000 | |||||||
Assets Acquired and Liabilities Assumed | |||||||||
The total purchase price was allocated to the acquired tangible and intangible assets and assumed liabilities of HPI based on their estimated fair values as of July 1, 2013. The excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed was allocated to goodwill. | |||||||||
The following table presents the preliminary allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and assumed liabilities of HPI based on their estimated fair values as of the closing date of the transaction. | |||||||||
The assets and liabilities of HPI shown below are based on our preliminary estimates of their acquisition date fair values. Our final fair value determinations may be significantly different than those shown below. | |||||||||
The following is our preliminary assignment of the aggregate consideration: | |||||||||
Accounts receivable | $ | 4,672,000 | |||||||
Prepaid expenses and other current assets | 1,096,000 | ||||||||
Inventories | 10,374,000 | ||||||||
Property, plant and equipment | 4,284,000 | ||||||||
Identifiable intangible assets | 18,900,000 | ||||||||
Goodwill | 4,135,000 | ||||||||
Total assets | $ | 43,461,000 | |||||||
Other current liabilities | $ | 2,680,000 | |||||||
Future contingent liabilities | 6,743,000 | ||||||||
Total liabilities | $ | 9,423,000 | |||||||
The Company recorded $18,900,000 in identifiable intangibles at fair value, consisting of $9,200,000 in acquired customer relationships, $5,000,000 in non-compete agreements from the former owners of HPI, and $4,700,000 for the acquired trade name. | |||||||||
At the closing of the acquisition, the estimated value for acquisition-related contingent consideration payable was $6,743,000. The Company will continue to evaluate this liability for remeasurement at the end of each reporting period and any change will be recorded in the Company's consolidated statement of comprehensive income. The carrying amount of the liability may fluctuate significantly and actual amounts paid may be materially different from the estimated value of the liability. | |||||||||
Goodwill was calculated as the difference between the fair value of the consideration and the preliminary values assigned to the assets acquired and liabilities assumed. | |||||||||
The intangible assets associated with the customer relationships will be amortized for ten years beginning on July 1, 2013 and the non-compete agreement will be amortized for five years. The trade name is considered an indefinite-life asset and as such will not be amortized. | |||||||||
The Company recognized amortization expense on these acquired intangible assets of $960,000 for the year ended December 31, 2013. | |||||||||
For the year ended December 31, 2013, the Company incurred and expensed transaction related expenses of approximately $995,000. This amount is included in selling and administrative expenses on the consolidated statements of comprehensive income. | |||||||||
Revenues and expenses of HPI Direct have been included in the consolidated financial statements beginning July 1, 2013. | |||||||||
Actual and Pro Forma Impact of the Transaction (Unaudited) | |||||||||
Net revenues and net income for HPI of $21,052,000 and $840,000, respectively, are included in the Company's consolidated statements of comprehensive income from the acquisition date, July 1, 2013 through December 31, 2013. | |||||||||
The following table presents pro forma results of operations for the years ended December 31, 2013 and 2012, respectively, and gives effect to the transaction as if it had been consummated on January 1, 2012. The unaudited pro forma results of operations have been prepared for comparative purposes only and are not necessarily indicative of what would have occurred had the acquisition been completed at the beginning of the period or of the results that may occur in the future. Furthermore, the pro forma financial information does not reflect the impact of any reorganization or restructuring expenses or operating efficiencies resulting from combining the two companies. | |||||||||
Year ended | Year ended | ||||||||
12/31/13 | 12/31/12 | ||||||||
Net sales | $ | 168,838,000 | $ | 149,447,000 | |||||
Income before taxes on income | 9,590,000 | 3,407,000 | |||||||
Net income | $ | 6,565,000 | $ | 2,242,000 | |||||
Weighted average number of shares outstanding during the period | |||||||||
(Basic) | 6,365,897 | 6,270,308 | |||||||
(Diluted) | 6,447,913 | 6,351,614 | |||||||
Per Share Data: | |||||||||
Basic | |||||||||
Net income | $ | 1.03 | $ | 0.36 | |||||
Diluted | |||||||||
Net income | $ | 1.02 | $ | 0.35 | |||||
Note_17_Supplemental_Cash_Flow
Note 17 - Supplemental Cash Flow Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | ||||||||
NOTE 17 – Supplemental Cash Flow Information: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Income taxes paid | $ | 2,537,000 | $ | 1,981,000 | |||||
Interest paid | $ | 193,000 | $ | 30,000 | |||||
During the year ended December 31, 2012, the Company received 34,073 shares of its common stock as payment for the exercise of stock options for 41,596 shares. |
Note_18_Stock_Repurchase_Plan
Note 18 - Stock Repurchase Plan | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
NOTE 18 – Stock Repurchase Plan: | |
On August 1, 2008, the Company’s Board of Directors reset the common stock repurchase program authorization to allow for the repurchase of 1,000,000 additional shares of the Company’s outstanding shares of common stock. The Company reacquired and retired 13,211 shares and 36,570 shares of its common stock in the years ended December 31, 2013 and 2012, respectively, with approximate costs of $162,000, and $437,000, respectively. At December 31, 2013, the Company had 261,675 shares remaining on its common stock repurchase authorization. Shares purchased under the share repurchase program are constructively retired and returned to unissued status. The Company considers several factors in determining when to make share repurchases, including among other things, the cost of equity, the after-tax cost of borrowing, the debt to total capitalization targets and the expected future cash needs. There is no expiration date or other restriction governing the period over which the Company can make its share repurchases under the program. |
Note_19_Operating_Segment_Info
Note 19 - Operating Segment Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 19 – Operating Segment Information: | |||||||||||||||||
The Company classifies its businesses into two operating segments based on the types of products and services provided. The uniform and related products segment consists of the sale of uniforms and related items. The Remote Staffing Solutions segment consists of sales of staffing solutions. | |||||||||||||||||
The Company evaluates the performance of each operating segment based on several factors of which the primary financial measures are operating segment net sales and earnings before income taxes. The accounting policies of the operating segments are the same as those described in Note 1 entitled Significant Accounting Policies. Amounts for corporate expenses are included in the Uniforms and Related Products Segment totals. Information related to the operations of the Company's operating segments is set forth below: | |||||||||||||||||
Uniforms and Related Products | Remote Staffing Solutions | Intersegment Eliminations | Total | ||||||||||||||
Twelve Months Ended | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Net sales | $ | 145,846,000 | $ | 9,285,000 | $ | (3,635,000 | ) | $ | 151,496,000 | ||||||||
Gross margin | $ | 49,252,000 | $ | 5,720,000 | (2,414,000 | ) | $ | 52,558,000 | |||||||||
Selling and administrative expenses | 42,854,000 | 3,433,000 | (2,414,000 | ) | 43,873,000 | ||||||||||||
Interest expense | 195,000 | - | - | 195,000 | |||||||||||||
Income before income taxes | $ | 6,203,000 | $ | 2,287,000 | $ | - | $ | 8,490,000 | |||||||||
Depreciation and amortization | $ | 2,375,000 | $ | 207,000 | $ | - | $ | 2,582,000 | |||||||||
Capital expenditures | $ | 1,274,000 | $ | 357,000 | $ | - | $ | 1,631,000 | |||||||||
Total assets | $ | 119,532,000 | $ | 7,341,000 | $ | (1,379,000 | ) | $ | 125,494,000 | ||||||||
Uniforms and Related Products | Remote Staffing Solutions | Intersegment Eliminations | Total | ||||||||||||||
Twelve Months Ended | |||||||||||||||||
31-Dec-12 | |||||||||||||||||
Net sales | $ | 116,029,000 | $ | 7,196,000 | $ | (3,739,000 | ) | $ | 119,486,000 | ||||||||
Gross margin | $ | 37,863,000 | $ | 4,251,000 | (2,351,000 | ) | $ | 39,763,000 | |||||||||
Selling and administrative expenses | 33,869,000 | 2,368,000 | (2,351,000 | ) | 33,886,000 | ||||||||||||
Intangible asset impairment | 1,226,000 | - | - | 1,226,000 | |||||||||||||
Interest expense | 30,000 | - | - | 30,000 | |||||||||||||
Income before income taxes | $ | 2,738,000 | $ | 1,883,000 | $ | - | $ | 4,621,000 | |||||||||
Depreciation and amortization | $ | 2,139,000 | $ | 161,000 | $ | - | $ | 2,300,000 | |||||||||
Capital expenditures | $ | 801,000 | $ | 846,000 | $ | - | $ | 1,647,000 | |||||||||
Total assets | $ | 72,980,000 | $ | 7,385,000 | $ | (1,452,000 | ) | $ | 78,913,000 | ||||||||
Note_20_Subsequent_Event
Note 20 - Subsequent Event | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
NOTE 20 – Subsequent Event: | |
On February 7, 2014, the Compensation committee of the Board of Directors approved a restricted stock grant under the terms of the 2013 Stock and Awards Plan of the Company to four members of senior management for a total of 50,000 shares. The fair value of the stock on the date of grant was $14.72 per share for a total value of $736,000. These shares are unvested at the time of grant and will vest if the executives are still employed by the Company on February 7, 2017. The shares are subject to accelerated vesting under certain circumstances as outlined in the 2013 Stock and Awards Plan. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||
Basis of presentation | |||||||||||
The consolidated interim financial statements include the accounts of Superior Uniform Group, Inc. and its wholly-owned subsidiaries, The Office Gurus, LLC, SUG Holding and Fashion Seal Corporation; The Office Gurus, LTDA. De C.V., The Office Masters, LTDA. De C.V. and The Office Gurus, Ltd., each a subsidiary of Fashion Seal Corporation and SUG Holding; and Power Three Web Ltda. and Superior Sourcing, each a wholly-owned subsidiary of SUG Holding. All of these entities are referred to collectively as “the Company”. | |||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||
Cash and cash equivalents | |||||||||||
The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. | |||||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | ||||||||||
Revenue recognition and allowance for doubtful accounts | |||||||||||
The Company recognizes revenue as products are shipped and title passes and as services are provided. The Company collects sales tax for various taxing authorities. It is the Company’s policy to record these amounts on a net basis. Therefore, these amounts are not included in net sales for the Company. A provision for estimated returns and allowances is recorded based upon historical experience and current allowance programs. Judgments and estimates are used in determining the collectability of accounts receivable. The Company analyzes specific accounts receivable and historical bad debt experience, customer credit worthiness, current economic trends and the age of outstanding balances when evaluating the adequacy of the allowance for doubtful accounts. Management judgments and estimates are used in connection with establishing the allowance in any accounting period. Changes in estimates are reflected in the period they become known. Charge-offs of accounts receivable are made once all collection efforts have been exhausted. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. | |||||||||||
Accounts Receivable Other, Policy [Policy Text Block] | ' | ||||||||||
Accounts receivable-other | |||||||||||
The Company purchases raw materials and has them delivered to certain suppliers of the Company. The Company pays for the raw materials and then deducts the cost of these materials from payments to the suppliers at the time the related finished goods are invoiced to the Company by those suppliers. | |||||||||||
Advertising Costs, Policy [Policy Text Block] | ' | ||||||||||
Advertising expenses | |||||||||||
The Company expenses advertising costs as incurred. Advertising costs for the years ended December 31, 2013 and 2012, respectively, were $89,000 and $51,000. | |||||||||||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | ||||||||||
Cost of goods sold and shipping and handling fees and costs | |||||||||||
Cost of goods sold consists primarily of direct costs of acquiring inventory, including cost of merchandise, inbound freight charges, purchasing and receiving costs, inspection costs, and warehousing costs for our Uniforms and Related Products segment. Cost of goods sold for our Remote Staffing Solutions segment includes salaries and payroll related benefits for agents. The Company includes shipping and handling fees billed to customers in net sales. Shipping and handling costs associated with out-bound freight are generally recorded in cost of goods sold. Other shipping and handling costs are included in selling and administrative expenses and totaled $7,053,000 and $5,458,000 for the years ended December 31, 2013 and 2012, respectively. | |||||||||||
Inventory, Policy [Policy Text Block] | ' | ||||||||||
Inventories | |||||||||||
Inventories are stated at the lower of cost (first-in, first-out method) or market value. Judgments and estimates are used in determining the likelihood that goods on hand can be sold to customers. Historical inventory usage and current revenue trends are considered in estimating both excess and obsolete inventories. If actual product demand and market conditions are less favorable than those projected by management, additional inventory write-downs may be required. | |||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||
Property, plant and equipment | |||||||||||
Property, plant and equipment are stated at cost, less accumulated depreciation and amortization. Major renewals and improvements are capitalized, while replacements, maintenance and repairs which do not improve or extend the life of the respective assets are expensed currently. Costs of assets sold or retired and the related accumulated depreciation and amortization are eliminated from accounts and the net gain or loss is reflected in the statement of earnings within selling and administrative expenses. | |||||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' | ||||||||||
Goodwill | |||||||||||
Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The Company tests goodwill for impairment annually as of December 31st and/or when an event occurs or circumstances change such that it is more likely than not that impairment may exist. Examples of such events and circumstances that the Company would consider include the following: | |||||||||||
• | macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; | ||||||||||
• | industry and market considerations such as a deterioration in the environment in which the Company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the Company's products or services, or a regulatory or political development; | ||||||||||
• | cost factors such as increases in raw materials, labor, or other costs that have a negative effect on earnings and cash flows; | ||||||||||
• | overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; | ||||||||||
• | other relevant entity-specific events such as changes in management, key personnel, strategy, or customers; | ||||||||||
Goodwill is tested at a level of reporting referred to as "the reporting unit." The Company's reporting units are defined as each of its two reporting segments with all of its goodwill included in the Uniforms and Related Products segment. | |||||||||||
An entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. The Company completed its assessment of the qualitative factors as of December 31, 2013 and determined that it was not more likely than not that the fair value of the reporting unit was less than its carrying value. | |||||||||||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' | ||||||||||
Other intangible assets | |||||||||||
Other intangible assets consist of customer lists, a non-compete agreement and an acquired trade name acquired in previous business acquisitions. | |||||||||||
The breakdown of intangible assets as of December 31, 2013 and 2012 was as follows: | |||||||||||
Customer | Weighted | Non-compete | Weighted | ||||||||
Relationships | Average Life (years) | Agreement | Average Life (years) | ||||||||
31-Dec-13 | |||||||||||
Cost | $ | 10,221,000 | 9.6 | $ | 5,000,000 | 5 | |||||
Accumulated amortization | (1,068,000 | ) | (500,000 | ) | |||||||
Net | $ | 9,153,000 | $ | 4,500,000 | |||||||
Customer | License | ||||||||||
Relationships | Agreement | ||||||||||
31-Dec-12 | |||||||||||
Cost | $ | 1,021,000 | 7 | $ | 2,861,000 | 3.5 | |||||
Accumulated amortization | (462,000 | ) | (1,635,000 | ) | |||||||
Intangible asset impairment | - | (1,226,000 | ) | ||||||||
Net | $ | 559,000 | $ | - | |||||||
Amortization expense for other intangible assets was $1,106,000 and $964,000 for the years ended December 31, 2013 and 2012, respectively. Amortization expense for other intangible assets is expected to be $2,066,000 for each of the years ending December 2014 and 2015; $2,041,000 in 2016; $1,920,000 in 2017; $1,420,000 in 2018; $920,000 in each of the years ending December 31, 2019 through 2022; and $460,000 in 2023. The Company recognized a pre-tax, non-cash impairment charge of $1,226,000 in the fourth quarter of 2012 to write off the remaining balance of the licensing agreement. This impairment charge is included in the results of our Uniforms and Related Products segment. Refer to Note 6. | |||||||||||
As part of the acquisition of HPI in 2013, the Company recorded $4,700,000 as the fair value of the acquired trade name in other intangible assets. This asset is considered to be of an indefinite life and as such is not being amortized. | |||||||||||
l) Depreciation and amortization | |||||||||||
Plant and equipment are depreciated on the straight-line basis at 2.5% to 5% for buildings, 2.5% to 20% for improvements, 10% to 33.33% for machinery, equipment and fixtures and 20% to 33.33% for transportation equipment. Leasehold improvements are amortized over the terms of the leases inasmuch as such improvements have useful lives of at least the terms of the respective leases. | |||||||||||
m) Employee benefits | |||||||||||
Pension plan costs are funded currently based on actuarial estimates, with prior service costs amortized over 20 years. The Company recognizes settlement gains and losses in its financial statements when the cost of all settlements in a year is greater than the sum of the service cost and interest cost components of net periodic pension cost for the plan for the year. | |||||||||||
n) Insurance | |||||||||||
The Company self-insures for certain obligations related to employee health programs. The Company also purchases stop-loss insurance policies to protect it from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for losses that have occurred, but have not been reported. The Company's estimates consider historical claim experience and other factors. The Company's liabilities are based on estimates, and, while the Company believes that the accrual for loss is adequate, the ultimate liability may be in excess of or less than the amounts recorded. Changes in claim experience, the Company's ability to settle claims or other estimates and judgments used by management could have a material impact on the amount and timing of expense for any period. | |||||||||||
o) Taxes on income | |||||||||||
Income taxes are provided for under the liability method, whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The calculation of the Company’s tax liabilities also involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain income tax positions based on estimates of whether, and the extent to which, additional taxes will be required. The Company also reports interest and penalties related to uncertain income tax positions as income taxes. Refer to Note 8. | |||||||||||
p) Impairment of long-lived assets | |||||||||||
Long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of its carrying amount to future net cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. There was no impairment of long-lived assets for the year ended December 31, 2013. The Company recognized an impairment loss of $1,226,000 related to an intangible asset in the year ended 2012. Refer to Note 6. | |||||||||||
Depreciation, Depletion, and Amortization [Policy Text Block] | ' | ||||||||||
Depreciation and amortization | |||||||||||
Plant and equipment are depreciated on the straight-line basis at 2.5% to 5% for buildings, 2.5% to 20% for improvements, 10% to 33.33% for machinery, equipment and fixtures and 20% to 33.33% for transportation equipment. Leasehold improvements are amortized over the terms of the leases inasmuch as such improvements have useful lives of at least the terms of the respective leases. | |||||||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | ||||||||||
Employee benefits | |||||||||||
Pension plan costs are funded currently based on actuarial estimates, with prior service costs amortized over 20 years. The Company recognizes settlement gains and losses in its financial statements when the cost of all settlements in a year is greater than the sum of the service cost and interest cost components of net periodic pension cost for the plan for the year. | |||||||||||
Insurance, Policy [Policy Text Block] | ' | ||||||||||
Insurance | |||||||||||
The Company self-insures for certain obligations related to employee health programs. The Company also purchases stop-loss insurance policies to protect it from catastrophic losses. Judgments and estimates are used in determining the potential value associated with reported claims and for losses that have occurred, but have not been reported. The Company's estimates consider historical claim experience and other factors. The Company's liabilities are based on estimates, and, while the Company believes that the accrual for loss is adequate, the ultimate liability may be in excess of or less than the amounts recorded. Changes in claim experience, the Company's ability to settle claims or other estimates and judgments used by management could have a material impact on the amount and timing of expense for any period. | |||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||
Taxes on income | |||||||||||
Income taxes are provided for under the liability method, whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The calculation of the Company’s tax liabilities also involves dealing with uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain income tax positions based on estimates of whether, and the extent to which, additional taxes will be required. The Company also reports interest and penalties related to uncertain income tax positions as income taxes. Refer to Note 8. | |||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | ||||||||||
Impairment of long-lived assets | |||||||||||
Long-lived assets, such as property and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the asset is measured by comparison of its carrying amount to future net cash flows the asset is expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. There was no impairment of long-lived assets for the year ended December 31, 2013. The Company recognized an impairment loss of $1,226,000 related to an intangible asset in the year ended 2012. Refer to Note 6. | |||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||
Share-based compensation | |||||||||||
The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. Historically, the Company has issued options and stock-settled stock appreciation rights. At December 31, 2013, the Company had 2,484,281 shares of common stock authorized for awards of share-based compensation under its 2013 Incentive Stock and Awards Plan. | |||||||||||
The Company recognizes share-based compensation expense for all awards granted to employees, which is based on the fair value of the award on the date of grant. Determining the appropriate fair value model and calculating the fair value of stock compensation awards requires the input of certain highly complex and subjective assumptions, including the expected life of the stock compensation awards and the Company’s common stock price volatility. The assumptions used in calculating the fair value of stock compensation awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change and the Company deems it necessary to use different assumptions, stock compensation expense could be materially different from what has been recorded in the current period. | |||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||
Earnings per share | |||||||||||
Historical basic per share data is based on the weighted average number of shares outstanding. Historical diluted per share data is reconciled by adding to weighted average shares outstanding the dilutive impact of the exercise of outstanding stock options and stock-settled stock appreciation rights. | |||||||||||
Comprehensive Income, Policy [Policy Text Block] | ' | ||||||||||
Comprehensive income | |||||||||||
Other comprehensive income (loss) is defined as the change in equity during a period, from transactions and other events, excluding changes resulting from investments by owners (e.g., supplemental stock offering) and distributions to owners (e.g., dividends). | |||||||||||
Segment Reporting, Policy [Policy Text Block] | ' | ||||||||||
Operating segments | |||||||||||
FASB establishes standards for the way that public companies report information about operating segments in annual financial statements and establishes standards for related disclosures about product and services, geographic areas and major customers. The Company has reviewed the standard and determined that it has two reportable segments, Uniforms and Related Products and Remote Staffing Solutions. | |||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||||||||||
Risks and concentrations | |||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk include cash in banks in excess of federally insured amounts. The Company manages this risk by maintaining all deposits in high quality financial institutions and periodically performing evaluations of the relative credit standing of the financial institutions. When assessing credit risk the Company considers whether the credit risk exists at both the individual and group level. Consideration is given to the activity, region and economic characteristics when assessing if there exists a group concentration risk. At December 31, 2013 and 2012, the Company had no customer with an accounts receivable balance greater than 10% of the total accounts receivable. At December 31, 2013 and 2012, the accounts receivable balances for the Company’s five largest customers totaled $6,264,000 and $4,930,000, respectively, or approximately 27.6% and 29.6% of the respective total accounts receivable balances. The Company’s largest customer for each of the years ended December 31, 2013 and 2012 had net sales of approximately $10,110,000 and $8,412,000, respectively, or approximately 6.7% and 7.0% of the respective total net sales for the Company. The Company’s five largest customers for the year ended December 31, 2013 and 2012 had net sales of approximately $35,084,000 and $31,961,000, respectively, or approximately 23.2% and 26.7% of the respective total net sales for the Company. | |||||||||||
Included in accounts receivable-other on the Company’s consolidated balance sheets at December 31, 2013 and 2012 are receivable balances from a supplier in Haiti totaling $4,018,000 and $2,966,000, respectively. | |||||||||||
In 2013 and 2012, approximately 33% and 48%, respectively, of the Company’s products were obtained from suppliers located in Central America. Any inability by the Company to continue to obtain its products from Central America could significantly disrupt the Company’s business. Because the Company manufactures and sources products in Central America, the Company is affected by economic conditions in those countries, including increased duties, possible employee turnover, labor unrest and lack of developed infrastructure. | |||||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||||
Fair value of financial instruments | |||||||||||
The carrying amounts of cash and cash equivalents, receivables and accounts payable approximated fair value as of December 31, 2013 and 2012, because of the relatively short maturities of these instruments. The carrying amount of the Company’s long-term debt approximated fair value as the rates are adjustable based upon current market conditions. | |||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||||
Use of estimates | |||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Accounting Policies [Abstract] | ' | ||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||
Customer | Weighted | Non-compete | Weighted | ||||||||
Relationships | Average Life (years) | Agreement | Average Life (years) | ||||||||
31-Dec-13 | |||||||||||
Cost | $ | 10,221,000 | 9.6 | $ | 5,000,000 | 5 | |||||
Accumulated amortization | (1,068,000 | ) | (500,000 | ) | |||||||
Net | $ | 9,153,000 | $ | 4,500,000 | |||||||
Customer | License | ||||||||||
Relationships | Agreement | ||||||||||
31-Dec-12 | |||||||||||
Cost | $ | 1,021,000 | 7 | $ | 2,861,000 | 3.5 | |||||
Accumulated amortization | (462,000 | ) | (1,635,000 | ) | |||||||
Intangible asset impairment | - | (1,226,000 | ) | ||||||||
Net | $ | 559,000 | $ | - |
Note_2_Allowance_for_Doubtful_1
Note 2 - Allowance for Doubtful Accounts Receivable (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Balance at the beginning of year | $ | 725,000 | $ | 758,000 | |||||
Provision for bad debts | 161,000 | 74,000 | |||||||
Charge-offs | (337,000 | ) | (125,000 | ) | |||||
Recoveries | 11,000 | 18,000 | |||||||
Balance at the end of year | $ | 560,000 | $ | 725,000 |
Note_3_Reserve_for_Sales_Retur1
Note 3 - Reserve for Sales Returns and Allowances (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Reserve For Sales Returns And Allowances Disclosure [Abstract] | ' | ||||||||
Reserve for Sales Returns and Allowances [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Balance at the beginning of year | $ | 178,000 | $ | 272,000 | |||||
Provision for returns and allowances | 3,062,000 | 2,203,000 | |||||||
Liability asumed in acquisition of business | 645,000 | - | |||||||
Actual returns and allowances paid to customers | (3,092,000 | ) | (2,297,000 | ) | |||||
Balance at the end of year | $ | 793,000 | $ | 178,000 |
Note_4_Inventories_Tables
Note 4 - Inventories (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Finished goods | $ | 37,259,000 | $ | 27,382,000 | |||||
Work in process | 111,000 | 71,000 | |||||||
Raw materials | 12,116,000 | 11,793,000 | |||||||
$ | 49,486,000 | $ | 39,246,000 |
Note_5_Property_Plant_and_Equi1
Note 5 - Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 2,340,000 | $ | 1,790,000 | |||||
Buildings, improvements and leaseholds | 11,719,000 | 8,683,000 | |||||||
Machinery, equipment and fixtures | 40,292,000 | 47,007,000 | |||||||
54,351,000 | 57,480,000 | ||||||||
Accumulated depreciation and amortization | (41,191,000 | ) | (48,757,000 | ) | |||||
$ | 13,160,000 | $ | 8,723,000 |
Note_7_LongTerm_Debt_Tables
Note 7 - Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | ||||||||
December 31, | December 31, | ||||||||
2013 | 2012 | ||||||||
Term loan payable to Fifth Third Bank, maturing July 1, 2018 | $ | 26,250,000 | $ | - | |||||
Note payable to Fifth Third Bank, pursuant to revolving credit agreement, maturing July 1,2018 | - | - | |||||||
$ | 26,250,000 | $ | - | ||||||
Less payments due within one year included in current liabilities | 1,750,000 | - | |||||||
Long-term debt less current maturities | $ | 24,500,000 | $ | - |
Note_8_Taxes_on_Income_Tables
Note 8 - Taxes on Income (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Current: | |||||||||
Federal | $ | 2,620,000 | $ | 1,508,000 | |||||
State and local | 269,000 | 213,000 | |||||||
2,889,000 | 1,721,000 | ||||||||
Deferred tax benefit | (249,000 | ) | (131,000 | ) | |||||
$ | 2,640,000 | $ | 1,590,000 | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Deferred income tax assets: | |||||||||
Pension accruals | $ | 1,794,000 | $ | 4,300,000 | |||||
Operating reserves and other accruals | 861,000 | 1,385,000 | |||||||
Tax carrying value in excess of book basis of goodwill | 545,000 | 323,000 | |||||||
Deferred income tax liabilities: | |||||||||
Book carrying value in excess of tax basis of property | (605,000 | ) | (549,000 | ) | |||||
Deferred expenses | (716,000 | ) | (1,324,000 | ) | |||||
Net deferred income tax asset | $ | 1,879,000 | $ | 4,135,000 | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Statutory Federal income tax rate | 34 | % | 34 | % | |||||
State and local income taxes, net of Federal income tax benefit | 2.3 | 3 | |||||||
Effect of change in unrecognized tax benefit | (2.0 | ) | (1.1 | ) | |||||
Untaxed foreign income | (6.0 | ) | (9.1 | ) | |||||
Non-deductible share-based employee compensation expense | 2.3 | 4.6 | |||||||
Non-deductible portion of intangible asset impairment | 0 | 1.8 | |||||||
Other items | 0.5 | 1.2 | |||||||
Effective income tax rate | 31.1 | % | 34.4 | % | |||||
Summary of Income Tax Contingencies [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Balance at January 1, | $ | 565,000 | $ | 582,000 | |||||
Additions based on tax positions related to the current year | 59,000 | 68,000 | |||||||
Additions for tax positions of prior years | 1,000 | (10,000 | ) | ||||||
Reductions due to audits by taxing jurisdictions | (50,000 | ) | - | ||||||
Reductions due to lapse of statute of limitations | (78,000 | ) | (75,000 | ) | |||||
Balance at December 31, | $ | 497,000 | $ | 565,000 |
Note_9_Benefit_Plans_Tables
Note 9 - Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Changes in benefit obligation | ||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 27,819,000 | $ | 23,897,000 | ||||||||||||||||||
Service cost | 364,000 | 595,000 | ||||||||||||||||||||
Interest cost | 1,016,000 | 1,023,000 | ||||||||||||||||||||
Actuarial (gain) loss | (2,810,000 | ) | 3,469,000 | |||||||||||||||||||
Curtailment gain | (1,990,000 | ) | - | |||||||||||||||||||
Benefits paid | (2,766,000 | ) | (1,165,000 | ) | ||||||||||||||||||
Benefit obligation at end of year | 21,633,000 | 27,819,000 | ||||||||||||||||||||
Changes in plan assets | ||||||||||||||||||||||
Fair value of plan assets at beginning of year | 17,351,000 | 15,811,000 | ||||||||||||||||||||
Actual return on assets | 2,431,000 | 2,155,000 | ||||||||||||||||||||
Employer contributions | 1,000,000 | 550,000 | ||||||||||||||||||||
Benefits paid | (2,766,000 | ) | (1,165,000 | ) | ||||||||||||||||||
Fair value of plan assets at end of year | 18,016,000 | 17,351,000 | ||||||||||||||||||||
Funded status at end of year | $ | (3,617,000 | ) | $ | (10,468,000 | ) | ||||||||||||||||
Amounts recognized in consolidated balance sheet | ||||||||||||||||||||||
Long-term pension liability | $ | (3,617,000 | ) | $ | (10,468,000 | ) | ||||||||||||||||
Amounts recognized in accumulated other comprehensive income consist of: | ||||||||||||||||||||||
Net actuarial loss | $ | 4,903,000 | $ | 12,223,000 | ||||||||||||||||||
Prior service cost | - | 13,000 | ||||||||||||||||||||
$ | 4,903,000 | $ | 12,236,000 | |||||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||
Information for pension plans with projected benefit obligation in excess of plan assets | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Projected benefit obligation | $ | 21,633,000 | $ | 27,819,000 | ||||||||||||||||||
Fair value of plan assets | (18,016,000 | ) | (17,351,000 | ) | ||||||||||||||||||
$ | 3,617,000 | $ | 10,468,000 | |||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||||||||
Components of net periodic benefit cost | ||||||||||||||||||||||
Net periodic benefits cost | 2013 | 2012 | ||||||||||||||||||||
Service cost - benefits earned during the period | $ | 364,000 | $ | 595,000 | ||||||||||||||||||
Interest cost on projected benefit obligation | 1,016,000 | 1,023,000 | ||||||||||||||||||||
Expected return on plan assets | (1,325,000 | ) | (1,270,000 | ) | ||||||||||||||||||
Amortization of prior service cost | 13,000 | 17,000 | ||||||||||||||||||||
Recognized actuarial loss | 938,000 | 957,000 | ||||||||||||||||||||
Settlement loss | 476,000 | - | ||||||||||||||||||||
Net periodic pension cost after settlements | $ | 1,482,000 | $ | 1,322,000 | ||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | ' | |||||||||||||||||||||
Discount Rate | Long Term Rate | Salary Scale | ||||||||||||||||||||
of Return | ||||||||||||||||||||||
Corp. | Plants | Corp. | Plants | Corp. | Plants | |||||||||||||||||
2012 | 3.93 | % | 3.77 | % | 8 | % | 8 | % | 3 | % | N/A | |||||||||||
2013 | 4.82 | % | 4.66 | % | 8 | % | 8 | % | 0 | % | N/A | |||||||||||
Discount Rate | Long Term Rate | Salary Scale | ||||||||||||||||||||
of Return | ||||||||||||||||||||||
Corp. | Plants | Corp. | Plants | Corp. | Plants | |||||||||||||||||
2012 | 4.35 | % | 4.23 | % | 8 | % | 8 | % | 3.5 | % | N/A | |||||||||||
2013 | 3.93 | % | 3.77 | % | 8 | % | 8 | % | 3 | % | N/A | |||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | |||||||||||||||||||||
Percentage of Plan | Target Allocation | |||||||||||||||||||||
Assets at | ||||||||||||||||||||||
December 31, | ||||||||||||||||||||||
2013 | 2012 | 2014 | ||||||||||||||||||||
Investment description | ||||||||||||||||||||||
Equity securities | 59 | % | 73 | % | 62 | % | ||||||||||||||||
Fixed income | 16 | % | 22 | % | 18 | % | ||||||||||||||||
Other | 25 | % | 5 | % | 20 | % | ||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||||||||
Year | Projected Benefit Payments | |||||||||||||||||||||
2014 | $ | 1,301,000 | ||||||||||||||||||||
2015 | $ | 2,616,000 | ||||||||||||||||||||
2016 | $ | 2,218,000 | ||||||||||||||||||||
2017 | $ | 2,281,000 | ||||||||||||||||||||
2018 | $ | 1,483,000 | ||||||||||||||||||||
2019-2023 | $ | 10,384,000 |
Note_10_Quarterly_Results_for_1
Note 10 - Quarterly Results for 2012 and 2013 (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||||
Quarter Ended | ||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||||||
Net sales | $ | 28,508,000 | $ | 29,335,000 | $ | 30,599,000 | $ | 31,044,000 | ||||||||||
Gross profit | $ | 9,462,000 | $ | 9,662,000 | $ | 10,032,000 | $ | 10,607,000 | ||||||||||
Income before taxes on income | $ | 537,000 | $ | 1,567,000 | $ | 1,692,000 | $ | 825,000 | ||||||||||
Net income | $ | 327,000 | $ | 977,000 | $ | 1,242,000 | $ | 485,000 | ||||||||||
Per Share Data: | ||||||||||||||||||
Basic | ||||||||||||||||||
Net income | $ | 0.05 | $ | 0.16 | $ | 0.2 | $ | 0.08 | ||||||||||
Diluted | ||||||||||||||||||
Net income | $ | 0.05 | $ | 0.16 | $ | 0.2 | $ | 0.08 | ||||||||||
Average Outstanding Shares (Basic) | 6,025,874 | 6,066,244 | 6,063,269 | 6,091,377 | ||||||||||||||
Average Outstanding Shares (Diluted) | 6,142,616 | 6,140,986 | 6,148,012 | 6,140,372 | ||||||||||||||
Quarter Ended | ||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||||||
Net sales | $ | 30,985,000 | $ | 30,854,000 | $ | 44,184,000 | $ | 45,473,000 | ||||||||||
Gross profit | $ | 11,313,000 | $ | 11,178,000 | $ | 15,040,000 | $ | 15,027,000 | ||||||||||
Income before taxes on income | $ | 1,749,000 | $ | 2,068,000 | $ | 2,128,000 | $ | 2,545,000 | ||||||||||
Net income | $ | 1,229,000 | $ | 1,438,000 | $ | 1,508,000 | $ | 1,675,000 | ||||||||||
Per Share Data: | ||||||||||||||||||
Basic | ||||||||||||||||||
Net income | $ | 0.2 | $ | 0.23 | $ | 0.24 | $ | 0.26 | ||||||||||
Diluted | ||||||||||||||||||
Net income | $ | 0.2 | $ | 0.23 | $ | 0.24 | $ | 0.25 | ||||||||||
Average Outstanding Shares (Basic) | 6,121,180 | 6,126,323 | 6,346,260 | 6,452,587 | ||||||||||||||
Average Outstanding Shares (Diluted) | 6,169,475 | 6,170,121 | 6,403,893 | 6,630,926 |
Note_13_ShareBased_Compensatio1
Note 13 - Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||
No. of | Weighted Average | |||||||||||||||
Shares | Exercise Price | |||||||||||||||
Outstanding December 31, 2011 | 671,500 | $ | 10.66 | |||||||||||||
Granted | 194,223 | 12.62 | ||||||||||||||
Exercised | (138,252 | ) | 9.32 | |||||||||||||
Lapsed | (86,400 | ) | 12.57 | |||||||||||||
Cancelled | (26,154 | ) | 12.37 | |||||||||||||
Outstanding December 31, 2012 | 614,917 | $ | 11.24 | |||||||||||||
Granted | 202,884 | 11.43 | ||||||||||||||
Exercised | (206,441 | ) | 10.73 | |||||||||||||
Lapsed | (31,150 | ) | 10.68 | |||||||||||||
Cancelled | (23,181 | ) | 11.67 | |||||||||||||
Outstanding December 31, 2013 | 557,029 | $ | 11.51 | |||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||||
Range of | Shares | Weighted Average Remaining | Weighted Average | |||||||||||||
Exercise Price | Contractual Life (Years) | Exercise Price | ||||||||||||||
$7.63 | - | $9.80 | 97,094 | 2.28 | $ | 9.45 | ||||||||||
$11.10 | - | $13.15 | 449,935 | 3.57 | $ | 11.86 | ||||||||||
$16.00 | 10,000 | 0.33 | $ | 16 | ||||||||||||
$7.63 | - | $16.00 | 557,029 | 3.29 | $ | 11.51 | ||||||||||
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity [Table Text Block] | ' | |||||||||||||||
No. of | Weighted Average | |||||||||||||||
Shares | Exercise Price | |||||||||||||||
Outstanding December 31, 2011 | 257,424 | $ | 11.32 | |||||||||||||
Granted | 65,752 | 13.15 | ||||||||||||||
Exercised | (134,304 | ) | 11.67 | |||||||||||||
Lapsed | - | - | ||||||||||||||
Cancelled | (12,396 | ) | 13.15 | |||||||||||||
Outstanding December 31, 2012 | 176,476 | $ | 11.6 | |||||||||||||
Granted | 59,716 | 11.29 | ||||||||||||||
Exercised | (9,786 | ) | 11.73 | |||||||||||||
Lapsed | - | - | ||||||||||||||
Cancelled | - | - | ||||||||||||||
Outstanding December 31, 2013 | 226,406 | $ | 11.52 | |||||||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | |||||||||||||||
Range of | SARS | Weighted Average Remaining | Weighted Average | |||||||||||||
Exercise Price | Contractual Life (Years) | Exercise Price | ||||||||||||||
$9.80 | 26,184 | 1.08 | $ | 9.8 | ||||||||||||
$11.24 | - | $13.15 | 200,222 | 2.89 | $ | 11.74 | ||||||||||
$9.80 | - | $13.15 | 226,406 | 2.68 | $ | 11.52 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used | ' | |||||||||||||||
SARS | Options | |||||||||||||||
Exercise price | ||||||||||||||||
2013 | $ | 11.29 | $11.29 | - | $11.76 | |||||||||||
2012 | $ | 13.15 | $11.72 | - | $13.15 | |||||||||||
Market price | ||||||||||||||||
2013 | $ | 11.29 | $11.29 | - | $11.76 | |||||||||||
2012 | $ | 13.15 | $11.72 | - | $13.15 | |||||||||||
Risk free interest rate (1) | ||||||||||||||||
2013 | 0.9 | % | 0.90% | - | 1.70% | |||||||||||
2012 | 0.8 | % | 0.70% | - | 1.90% | |||||||||||
Expected award life (years) (2) | 5 | 5 | - | 10 | ||||||||||||
Expected volatility (3) | ||||||||||||||||
2013 | 46 | % | 36.70% | - | 46.00% | |||||||||||
2012 | 45.1 | % | 36.40% | - | 45.90% | |||||||||||
Expected dividend yield (4) | ||||||||||||||||
2013 | 4.8 | % | 4.60% | - | 4.80% | |||||||||||
2012 | 4.1 | % | 4.10% | - | 4.60% |
Note_14_Earnings_Per_Share_Tab
Note 14 - Earnings Per Share (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Net earnings used in the computation of basic and diluted earnings per share | $ | 5,850,000 | $ | 3,031,000 | |||||
Weighted average shares outstanding - basic | 6,261,588 | 6,061,691 | |||||||
Common stock equivalents | 82,016 | 81,306 | |||||||
Total weighted average shares outstanding - diluted | 6,343,604 | 6,142,997 | |||||||
Per Share Data: | |||||||||
Basic | |||||||||
Net earnings | $ | 0.93 | $ | 0.5 | |||||
Diluted | |||||||||
Net earnings | $ | 0.92 | $ | 0.49 |
Note_15_Accrued_Expenses_Table
Note 15 - Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | ' | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Salaries, wages, commissions and vacation pay | $ | 5,607,000 | $ | 2,510,000 | |||||
Accrued rebates | 826,000 | 143,000 | |||||||
Other accrued expenses | 1,335,000 | 569,000 | |||||||
$ | 7,768,000 | $ | 3,222,000 |
Note_16_Acquisition_of_Busines1
Note 16 - Acquisition of Business: (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||||||
Cash consideration at closing | $ | 32,483,000 | |||||||
Restricted shares of Superior common stock issued | 1,555,000 | ||||||||
Total Consideration | $ | 34,038,000 | |||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | ||||||||
Accounts receivable | $ | 4,672,000 | |||||||
Prepaid expenses and other current assets | 1,096,000 | ||||||||
Inventories | 10,374,000 | ||||||||
Property, plant and equipment | 4,284,000 | ||||||||
Identifiable intangible assets | 18,900,000 | ||||||||
Goodwill | 4,135,000 | ||||||||
Total assets | $ | 43,461,000 | |||||||
Other current liabilities | $ | 2,680,000 | |||||||
Future contingent liabilities | 6,743,000 | ||||||||
Total liabilities | $ | 9,423,000 | |||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||
Year ended | Year ended | ||||||||
12/31/13 | 12/31/12 | ||||||||
Net sales | $ | 168,838,000 | $ | 149,447,000 | |||||
Income before taxes on income | 9,590,000 | 3,407,000 | |||||||
Net income | $ | 6,565,000 | $ | 2,242,000 | |||||
Weighted average number of shares outstanding during the period | |||||||||
(Basic) | 6,365,897 | 6,270,308 | |||||||
(Diluted) | 6,447,913 | 6,351,614 | |||||||
Per Share Data: | |||||||||
Basic | |||||||||
Net income | $ | 1.03 | $ | 0.36 | |||||
Diluted | |||||||||
Net income | $ | 1.02 | $ | 0.35 |
Note_17_Supplemental_Cash_Flow1
Note 17 - Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | ||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
Income taxes paid | $ | 2,537,000 | $ | 1,981,000 | |||||
Interest paid | $ | 193,000 | $ | 30,000 |
Note_19_Operating_Segment_Info1
Note 19 - Operating Segment Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||
Uniforms and Related Products | Remote Staffing Solutions | Intersegment Eliminations | Total | ||||||||||||||
Twelve Months Ended | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Net sales | $ | 145,846,000 | $ | 9,285,000 | $ | (3,635,000 | ) | $ | 151,496,000 | ||||||||
Gross margin | $ | 49,252,000 | $ | 5,720,000 | (2,414,000 | ) | $ | 52,558,000 | |||||||||
Selling and administrative expenses | 42,854,000 | 3,433,000 | (2,414,000 | ) | 43,873,000 | ||||||||||||
Interest expense | 195,000 | - | - | 195,000 | |||||||||||||
Income before income taxes | $ | 6,203,000 | $ | 2,287,000 | $ | - | $ | 8,490,000 | |||||||||
Depreciation and amortization | $ | 2,375,000 | $ | 207,000 | $ | - | $ | 2,582,000 | |||||||||
Capital expenditures | $ | 1,274,000 | $ | 357,000 | $ | - | $ | 1,631,000 | |||||||||
Total assets | $ | 119,532,000 | $ | 7,341,000 | $ | (1,379,000 | ) | $ | 125,494,000 | ||||||||
Uniforms and Related Products | Remote Staffing Solutions | Intersegment Eliminations | Total | ||||||||||||||
Twelve Months Ended | |||||||||||||||||
31-Dec-12 | |||||||||||||||||
Net sales | $ | 116,029,000 | $ | 7,196,000 | $ | (3,739,000 | ) | $ | 119,486,000 | ||||||||
Gross margin | $ | 37,863,000 | $ | 4,251,000 | (2,351,000 | ) | $ | 39,763,000 | |||||||||
Selling and administrative expenses | 33,869,000 | 2,368,000 | (2,351,000 | ) | 33,886,000 | ||||||||||||
Intangible asset impairment | 1,226,000 | - | - | 1,226,000 | |||||||||||||
Interest expense | 30,000 | - | - | 30,000 | |||||||||||||
Income before income taxes | $ | 2,738,000 | $ | 1,883,000 | $ | - | $ | 4,621,000 | |||||||||
Depreciation and amortization | $ | 2,139,000 | $ | 161,000 | $ | - | $ | 2,300,000 | |||||||||
Capital expenditures | $ | 801,000 | $ | 846,000 | $ | - | $ | 1,647,000 | |||||||||
Total assets | $ | 72,980,000 | $ | 7,385,000 | $ | (1,452,000 | ) | $ | 78,913,000 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2003 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising Expense | ' | ' | ' | ' | ' | ' | ' | ' | $89,000 | $51,000 | ' |
Shipping, Handling and Transportation Costs | ' | ' | ' | ' | ' | ' | ' | ' | 7,053,000 | 5,458,000 | ' |
Amortization of Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,106,000 | 964,000 | ' |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 2,066,000 | ' | ' | ' | ' | ' | ' | ' | 2,066,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 2,066,000 | ' | ' | ' | ' | ' | ' | ' | 2,066,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2,041,000 | ' | ' | ' | ' | ' | ' | ' | 2,041,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,920,000 | ' | ' | ' | ' | ' | ' | ' | 1,920,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 1,420,000 | ' | ' | ' | ' | ' | ' | ' | 1,420,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Six | 920,000 | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Seven | 920,000 | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Eight | 920,000 | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Nine | 920,000 | ' | ' | ' | ' | ' | ' | ' | 920,000 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Ten | 460,000 | ' | ' | ' | ' | ' | ' | ' | 460,000 | ' | ' |
Impairment of Intangible Assets (Excluding Goodwill) | ' | ' | ' | ' | 1,226,000 | ' | ' | ' | ' | 1,226,000 | ' |
Pension Plan, Prior Service Costs, Amortization Term | '20 years | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 |
Number of Reportable Segments | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Accounts Receivable, Net, Current | 22,735,000 | ' | ' | ' | 16,655,000 | ' | ' | ' | 22,735,000 | 16,655,000 | ' |
Revenue, Net | 45,473,000 | 44,184,000 | 30,854,000 | 30,985,000 | 31,044,000 | 30,599,000 | 29,335,000 | 28,508,000 | ' | ' | ' |
Other Receivables | 4,133,000 | ' | ' | ' | 2,995,000 | ' | ' | ' | 4,133,000 | 2,995,000 | ' |
Five Largest [Member] | Sales [Member] | Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 23.20% | 26.70% | ' |
Concentration Risk, Number of Customers | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' |
Five Largest [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 27.60% | 29.60% | ' |
Concentration Risk, Number of Customers | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' |
Accounts Receivable, Net, Current | 6,264,000 | ' | ' | ' | ' | ' | ' | ' | 6,264,000 | ' | ' |
Five Largest [Member] | Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts Receivable, Net, Current | ' | ' | ' | ' | 4,930,000 | ' | ' | ' | ' | 4,930,000 | ' |
Revenue, Net | ' | ' | ' | ' | ' | ' | ' | ' | 35,084,000 | 31,961,000 | ' |
Largest [Member] | Sales [Member] | Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.70% | 7.00% | ' |
Largest [Member] | Customer Concentration Risk [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Net | ' | ' | ' | ' | ' | ' | ' | ' | 10,110,000 | 8,412,000 | ' |
Other Receivables | 4,018,000 | ' | ' | ' | 2,966,000 | ' | ' | ' | 4,018,000 | 2,966,000 | ' |
Building [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 2.50% | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' |
Building [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 5.00% | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' |
Building Improvements [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 2.50% | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' |
Building Improvements [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 20.00% | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Machinery, Equipment and Fixtures [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 10.00% | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Machinery, Equipment and Fixtures [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 33.33% | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' |
Transportation Equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 20.00% | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Transportation Equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Depreciation, Straight-line Percentage | 33.33% | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' |
Trade Names [Member] | HPI [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | 4,700,000 | ' | ' |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Supplier Concentration Risk [Member] | Central America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% | 48.00% | ' |
2003 Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 2,484,281 | ' | ' | ' | ' | ' | ' | ' | 2,484,281 | ' | ' |
HPI [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | $960,000 | ' | ' |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Intangible Assets (USD $) | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Cost | ' | ' | $10,221,000,000,000 | $1,021,000,000,000 | $5,000,000,000,000 | $2,861,000,000,000 |
Cost | ' | ' | '9 years 219 days | '7 years | '5 years | '3 years 6 months |
Accumulated amortization | ' | ' | -1,068,000,000,000 | -462,000,000,000 | -500,000,000,000 | -1,635,000,000,000 |
Intangible asset impairment | 1,226,000 | 1,226,000 | ' | ' | ' | -1,226,000,000,000 |
Net | ' | ' | $9,153,000,000,000 | $559,000,000,000 | $4,500,000,000,000 | ' |
Note_2_Allowance_for_Doubtful_2
Note 2 - Allowance for Doubtful Accounts Receivable (Details) - Allowance for Doubtful Accounts Receivable (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Allowance for Doubtful Accounts Receivable [Abstract] | ' | ' |
Balance | $725,000 | $758,000 |
Provision for bad debts | 161,000 | 74,000 |
Charge-offs | -337,000 | -125,000 |
Recoveries | 11,000 | 18,000 |
Balance | $560,000 | $725,000 |
Note_3_Reserve_for_Sales_Retur2
Note 3 - Reserve for Sales Returns and Allowances (Details) - Reserve for Sales Returns and Allowances (Allowance for Sales Returns [Member], USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Allowance for Sales Returns [Member] | ' | ' |
Note 3 - Reserve for Sales Returns and Allowances (Details) - Reserve for Sales Returns and Allowances [Line Items] | ' | ' |
Balance | $178,000 | $272,000 |
Provision for returns and allowances | 3,062,000 | 2,203,000 |
Liability asumed in acquisition of business | 645,000 | ' |
Actual returns and allowances paid to customers | -3,092,000 | -2,297,000 |
Balance | $793,000 | $178,000 |
Note_4_Inventories_Details_Inv
Note 4 - Inventories (Details) - Inventories (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Inventories [Abstract] | ' | ' |
Finished goods | $37,259,000 | $27,382,000 |
Work in process | 111,000 | 71,000 |
Raw materials | 12,116,000 | 11,793,000 |
$49,486,000 | $39,246,000 |
Note_5_Property_Plant_and_Equi2
Note 5 - Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Property, Plant and Equipment (Details) [Line Items] | ' | ' |
Depreciation, Depletion and Amortization, Nonproduction | $2,582,000 | $2,300,000 |
Property, Plant and Equipment [Member] | ' | ' |
Note 5 - Property, Plant and Equipment (Details) [Line Items] | ' | ' |
Depreciation, Depletion and Amortization, Nonproduction | $1,476,000 | $1,336,000 |
Note_5_Property_Plant_and_Equi3
Note 5 - Property, Plant and Equipment (Details) - Property, Plant and Equipment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $54,351,000 | $57,480,000 |
Accumulated depreciation and amortization | -41,191,000 | -48,757,000 |
13,160,000 | 8,723,000 | |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 2,340,000 | 1,790,000 |
Buildings, Improvements and Leaseholds [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | 11,719,000 | 8,683,000 |
Machinery, Equipment and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $40,292,000 | $47,007,000 |
Note_6_License_Agreement_Detai
Note 6 - License Agreement (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |
Mar. 06, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - License Agreement (Details) [Line Items] | ' | ' | ' | ' |
License Fee, Cash | ' | ' | $2,000,000 | ' |
License Fee, Warrants (in Shares) | ' | ' | 360,000 | ' |
License Fee, Warrants, Exercise Price (in Dollars per share) | ' | ' | $10.63 | ' |
Professional Fees | 61,000 | ' | ' | ' |
Finite-Lived License Agreements, Gross | 2,861,000 | ' | ' | ' |
Impairment of Intangible Assets (Excluding Goodwill) | ' | 1,226,000 | ' | 1,226,000 |
Warrant [Member] | ' | ' | ' | ' |
Note 6 - License Agreement (Details) [Line Items] | ' | ' | ' | ' |
Common Stock Shares Issued for Warrants Exercised (in Shares) | 44,912 | ' | ' | ' |
Warrants Not Settleable in Cash, Fair Value Disclosure | $800,000 | ' | ' | ' |
Initial [Member] | ' | ' | ' | ' |
Note 6 - License Agreement (Details) [Line Items] | ' | ' | ' | ' |
License Agreement, Expiration Period | ' | ' | '3 years | ' |
Additional [Member] | ' | ' | ' | ' |
Note 6 - License Agreement (Details) [Line Items] | ' | ' | ' | ' |
License Agreement, Expiration Period | ' | ' | '180 days | ' |
Note_7_LongTerm_Debt_Details
Note 7 - Long-Term Debt (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Oct. 22, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Jul. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Amended Credit Agreement [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | Per Month Through July 1 2015 [Member] | Per Month Through June 1 2018 [Member] | Senior Debt [Member] | Interest Rate Swap [Member] | |||
US [Member] | LIBOR [Member] | Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Effective July 1, 2014 [Member] | |||||||||
LIBOR [Member] | |||||||||||||||
Note 7 - Long-Term Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | $15,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 1.20% | 0.95% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Percentage | 0.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Permitted Investments In Subsidiaries | ' | ' | ' | ' | ' | 5,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Fixed Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.53% | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | 14,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Periodic Payment, Principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,250,000 | 187,500 | 250,000 | ' | ' |
Interest Rate Derivative Assets, at Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 |
Increase (Decrease) in Derivative Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 |
Other Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 |
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year | ' | ' | ' | ' | ' | ' | ' | ' | 1,750,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Two | ' | ' | ' | ' | ' | ' | ' | ' | 2,625,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Three | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Four | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' |
Long-term Debt, Maturities, Repayments of Principal in Year Five | ' | ' | ' | ' | ' | ' | ' | ' | 15,875,000 | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | $68,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio Of Maximum Funded Indebtedness To EBITDA | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | ' |
Fixed Charges Numerator | 1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_7_LongTerm_Debt_Details_L
Note 7 - Long-Term Debt (Details) - Long-Term Debt (USD $) | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' |
Long Term Debt | $26,250,000 |
Less payments due within one year included in current liabilities | 1,750,000 |
Long-term debt less current maturities | $24,500,000 |
Note_7_LongTerm_Debt_Details_L1
Note 7 - Long-Term Debt (Details) - Long-Term Debt (Parentheticals) | 12 Months Ended |
Dec. 31, 2013 | |
Term Loan [Member] | ' |
Debt Instrument [Line Items] | ' |
Long Term Debt Maturity Date | 1-Jul-18 |
Note Payable [Member] | ' |
Debt Instrument [Line Items] | ' |
Long Term Debt Maturity Date | 1-Jul-18 |
Note_8_Taxes_on_Income_Details
Note 8 - Taxes on Income (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Unrecognized Tax Benefits | $625,000 | $736,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 45,000 | 46,000 |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 65,000 | 29,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest, Payments | 23,000 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 128,000 | 171,000 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | -117,000 | ' |
Undistributed Earnings of Foreign Subsidiaries | $7,266,000 | $5,578,000 |
Note_8_Taxes_on_Income_Details1
Note 8 - Taxes on Income (Details) - Income Tax Provisions (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Current: | ' | ' |
Federal | $2,620,000 | $1,508,000 |
State and local | 269,000 | 213,000 |
2,889,000 | 1,721,000 | |
Deferred tax benefit | -249,000 | -131,000 |
$2,640,000 | $1,590,000 |
Note_8_Taxes_on_Income_Details2
Note 8 - Taxes on Income (Details) - Deferred Income Tax Asset (Liability) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred income tax assets: | ' | ' |
Pension accruals | $1,794,000 | $4,300,000 |
Operating reserves and other accruals | 861,000 | 1,385,000 |
Tax carrying value in excess of book basis of goodwill | 545,000 | 323,000 |
Deferred income tax liabilities: | ' | ' |
Book carrying value in excess of tax basis of property | -605,000 | -549,000 |
Deferred expenses | -716,000 | -1,324,000 |
Net deferred income tax asset | $1,879,000 | $4,135,000 |
Note_8_Taxes_on_Income_Details3
Note 8 - Taxes on Income (Details) - Income Tax Rate Reconciliation | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Rate Reconciliation [Abstract] | ' | ' |
Statutory Federal income tax rate | 34.00% | 34.00% |
State and local income taxes, net of Federal income tax benefit | 2.30% | 3.00% |
Effect of change in unrecognized tax benefit | -2.00% | -1.10% |
Untaxed foreign income | -6.00% | -9.10% |
Non-deductible share-based employee compensation expense | 2.30% | 4.60% |
Non-deductible portion of intangible asset impairment | 0.00% | 1.80% |
Other items | 0.50% | 1.20% |
Effective income tax rate | 31.10% | 34.40% |
Note_8_Taxes_on_Income_Details4
Note 8 - Taxes on Income (Details) - Unrecognized Tax Benefits (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Contingency [Line Items] | ' | ' |
Balance | $736,000 | ' |
Reductions due to lapse of statute of limitations | -65,000 | -29,000 |
Balance | 625,000 | 736,000 |
Excluding Interest and Penalties [Member] | ' | ' |
Income Tax Contingency [Line Items] | ' | ' |
Balance | 565,000 | 582,000 |
Additions based on tax positions related to the current year | 59,000 | 68,000 |
Additions for tax positions of prior years | 1,000 | -10,000 |
Reductions due to audits by taxing jurisdictions | -50,000 | ' |
Reductions due to lapse of statute of limitations | -78,000 | -75,000 |
Balance | $497,000 | $565,000 |
Note_9_Benefit_Plans_Details
Note 9 - Benefit Plans (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 9 - Benefit Plans (Details) [Line Items] | ' | ' |
Defined Benefit Plans, Number of Plans | 2 | ' |
Defined Benefit Plans, Retirement Age | '65 years | ' |
Defined Benefit Plan, Funded Status of Plan | ($3,617,000) | ($10,468,000) |
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | 50,000 | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 25.00% | ' |
Defined Contribution Plan, Employer Discretionary Contribution, Percent | 3.00% | ' |
Pension Contributions | 292,000 | 120,000 |
Actuarial Loss [Member] | ' | ' |
Note 9 - Benefit Plans (Details) [Line Items] | ' | ' |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | 324,000 | ' |
Prior Service [Member] | ' | ' |
Note 9 - Benefit Plans (Details) [Line Items] | ' | ' |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | $0 | ' |
Note_9_Benefit_Plans_Details_D
Note 9 - Benefit Plans (Details) - Defined Benefit Plans Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plans Information [Abstract] | ' | ' |
Benefit obligation | $27,819,000 | $23,897,000 |
Funded status at end of year | -3,617,000 | -10,468,000 |
Long-term pension liability | -3,617,000 | -10,468,000 |
Amounts recognized in accumulated other comprehensive income consist of: | ' | ' |
Net actuarial loss | 4,903,000 | 12,223,000 |
Prior service cost | ' | 13,000 |
4,903,000 | 12,236,000 | |
Service cost | 364,000 | 595,000 |
Interest cost | 1,016,000 | 1,023,000 |
Actuarial (gain) loss | -2,810,000 | 3,469,000 |
Curtailment gain | -1,990,000 | ' |
Benefits paid | -2,766,000 | -1,165,000 |
Fair value of plan assets | 17,351,000 | 15,811,000 |
Actual return on assets | 2,431,000 | 2,155,000 |
Employer contributions | 1,000,000 | 550,000 |
Benefit obligation | 21,633,000 | 27,819,000 |
Fair value of plan assets | $18,016,000 | $17,351,000 |
Note_9_Benefit_Plans_Details_P
Note 9 - Benefit Plans (Details) - Pension Plans with Projected Benefit Obligation in Excess of Plan Assets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Plans with Projected Benefit Obligation in Excess of Plan Assets [Abstract] | ' | ' |
Projected benefit obligation | $21,633,000 | $27,819,000 |
Fair value of plan assets | -18,016,000 | -17,351,000 |
$3,617,000 | $10,468,000 |
Note_9_Benefit_Plans_Details_N
Note 9 - Benefit Plans (Details) - Net Periodic Benefit Cost (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 9 - Benefit Plans (Details) - Net Periodic Benefit Cost [Line Items] | ' | ' |
Service cost - benefits earned during the period | $364,000 | $595,000 |
Interest cost on projected benefit obligation | 1,016,000 | 1,023,000 |
Expected return on plan assets | -1,325,000 | -1,270,000 |
Amortization of prior service cost | 13,000 | 17,000 |
Recognized actuarial loss | -2,810,000 | 3,469,000 |
Settlement loss | 476,000 | ' |
Net periodic pension cost after settlements | 1,482,000 | 1,322,000 |
Recognized Actuarial Loss [Member] | ' | ' |
Note 9 - Benefit Plans (Details) - Net Periodic Benefit Cost [Line Items] | ' | ' |
Recognized actuarial loss | $938,000 | $957,000 |
Note_9_Benefit_Plans_Details_A
Note 9 - Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Corporate Segment [Member] | ' | ' |
Note 9 - Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit [Line Items] | ' | ' |
Benefit Obligations Discount Rate | 4.82% | 3.93% |
Benefit Obligations Long Term Rate of Return | 8.00% | 8.00% |
Benefit Obligations Salary Scale | 0.00% | 3.00% |
Net Periodic Benefit Cost Discount Rate | 3.93% | 4.35% |
Net Periodic Benefit Cost Long Term Rate of Return | 8.00% | 8.00% |
Net Periodic Benefit Cost Salary Scale | 3.00% | 3.50% |
Plants [Member] | ' | ' |
Note 9 - Benefit Plans (Details) - Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit [Line Items] | ' | ' |
Benefit Obligations Discount Rate | 4.66% | 3.77% |
Benefit Obligations Long Term Rate of Return | 8.00% | 8.00% |
Benefit Obligations Salary Scale | 0.00% | 0.00% |
Net Periodic Benefit Cost Discount Rate | 3.77% | 4.23% |
Net Periodic Benefit Cost Long Term Rate of Return | 8.00% | 8.00% |
Net Periodic Benefit Cost Salary Scale | 0.00% | 0.00% |
Note_9_Benefit_Plans_Details_A1
Note 9 - Benefit Plans (Details) - Actual and Target Pension Plan Asset Allocation | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Investment description | ' | ' |
Actual Allocation | 100.00% | 100.00% |
Target Allocation | 100.00% | ' |
Equity Securities [Member] | ' | ' |
Investment description | ' | ' |
Actual Allocation | 59.00% | 73.00% |
Target Allocation | 62.00% | ' |
Fixed Income Investments [Member] | ' | ' |
Investment description | ' | ' |
Actual Allocation | 16.00% | 22.00% |
Target Allocation | 18.00% | ' |
Other than Securities Investment [Member] | ' | ' |
Investment description | ' | ' |
Actual Allocation | 25.00% | 5.00% |
Target Allocation | 20.00% | ' |
Note_9_Benefit_Plans_Details_P1
Note 9 - Benefit Plans (Details) - Projected Benefit Payments (USD $) | Dec. 31, 2013 |
Projected Benefit Payments [Abstract] | ' |
2014 | $1,301,000 |
2015 | 2,616,000 |
2016 | 2,218,000 |
2017 | 2,281,000 |
2018 | 1,483,000 |
2019-2023 | $10,384,000 |
Note_10_Quarterly_Results_for_2
Note 10 - Quarterly Results for 2012 and 2013 (Details) - Quarterly Results for 2012 and 2013 (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Quarterly Results for 2012 and 2013 [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $45,473,000 | $44,184,000 | $30,854,000 | $30,985,000 | $31,044,000 | $30,599,000 | $29,335,000 | $28,508,000 | ' | ' |
Gross profit | 15,027,000 | 15,040,000 | 11,178,000 | 11,313,000 | 10,607,000 | 10,032,000 | 9,662,000 | 9,462,000 | 52,558,000 | 39,763,000 |
Income before taxes on income | 2,545,000 | 2,128,000 | 2,068,000 | 1,749,000 | 825,000 | 1,692,000 | 1,567,000 | 537,000 | ' | ' |
Net income | $1,675,000 | $1,508,000 | $1,438,000 | $1,229,000 | $485,000 | $1,242,000 | $977,000 | $327,000 | $5,850,000 | $3,031,000 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | $0.26 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.93 | $0.50 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | $0.25 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.92 | $0.49 |
Average Outstanding Shares (Basic) (in Shares) | 6,452,587 | 6,346,260 | 6,126,323 | 6,121,180 | 6,091,377 | 6,063,269 | 6,066,244 | 6,025,874 | 6,261,588 | 6,061,691 |
Average Outstanding Shares (Diluted) (in Shares) | 6,630,926 | 6,403,893 | 6,170,121 | 6,169,475 | 6,140,372 | 6,148,012 | 6,140,986 | 6,142,616 | 6,343,604 | 6,142,997 |
Note_11_Rentals_Details
Note 11 - Rentals (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Leases, Operating [Abstract] | ' | ' |
Operating Leases, Rent Expense | $184,000 | $164,000 |
Operating Leases, Future Minimum Payments Total | 75,000 | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 43,000 | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 15,000 | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 14,000 | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | $3,000 | ' |
Note_13_ShareBased_Compensatio2
Note 13 - Share-Based Compensation (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | ||
Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Available to Issue | Available to Issue | Director [Member] | |||||
Note 13 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years | ' | ' | ' | '5 years | [1] | ' | ' | ' | ' | ' | '10 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Intrinsic Value | $2,214,000 | ' | ' | $898,000 | ' | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercised, Intrinsic Value | 796,000 | 269,000 | ' | 36,000 | 122,000 | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $3.01 | $3.38 | ' | $2.97 | $3.59 | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 206,441 | 138,252 | ' | 9,786 | 134,304 | 206,441 | 138,252 | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 2,484,281 | 1,284,675 | ' | |
Allocated Share-based Compensation Expense | 788,000 | 893,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Other Tax Expense (Benefit) | -72,000 | -96,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Proceeds from Stock Options Exercised | 2,216,000 | 889,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Tax Expense from Stock Options Exercised | $270,000 | $60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Repurchased During Period, Shares (in Shares) | ' | 34,073 | ' | ' | ' | ' | ' | 34,073 | ' | ' | ' | |
Shares, Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | 41,596 | ' | ' | ' | |
[1] | The expected life in years for awards granted was based on the historical exercise patterns experienced by the Company when the award is made. |
Note_13_ShareBased_Compensatio3
Note 13 - Share-Based Compensation (Details) - Summary of Option Transactions (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of Option Transactions [Abstract] | ' | ' | ' |
Outstanding | 557,029 | 614,917 | 671,500 |
Outstanding (in Dollars per share) | $11.51 | $11.24 | $10.66 |
Granted | 202,884 | 194,223 | ' |
Granted (in Dollars per share) | $11.43 | $12.62 | ' |
Exercised | -206,441 | -138,252 | ' |
Exercised (in Dollars per share) | $10.73 | $9.32 | ' |
Lapsed | -31,150 | -86,400 | ' |
Lapsed (in Dollars per share) | $10.68 | $12.57 | ' |
Cancelled | -23,181 | -26,154 | ' |
Cancelled (in Dollars per share) | $11.67 | $12.37 | ' |
Note_13_ShareBased_Compensatio4
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Options Outstanding (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Shares (in Shares) | 557,029 | 614,917 | 671,500 |
Weighted Average Remaining Contractual Life (Years) | '3 years 105 days | ' | ' |
Weighted Average Exercise Price | $11.51 | ' | ' |
Option Set 1 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Shares (in Shares) | 97,094 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '2 years 102 days | ' | ' |
Weighted Average Exercise Price | $9.45 | ' | ' |
Option Set 1 | Minimum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $7.63 | ' | ' |
Option Set 1 | Maximum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $9.80 | ' | ' |
Option Set 2 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Shares (in Shares) | 449,935 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '3 years 208 days | ' | ' |
Weighted Average Exercise Price | $11.86 | ' | ' |
Option Set 2 | Minimum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $11.10 | ' | ' |
Option Set 2 | Maximum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $13.15 | ' | ' |
Option Set 3 | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $16 | ' | ' |
Shares (in Shares) | 10,000 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '120 days | ' | ' |
Weighted Average Exercise Price | $16 | ' | ' |
Minimum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $7.63 | ' | ' |
Maximum [Member] | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' |
Range of Exercise Price | $16 | ' | ' |
Note_13_ShareBased_Compensatio5
Note 13 - Share-Based Compensation (Details) - Summary of Stock-Settled Stock Appreciation Rights Transactions (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 13 - Share-Based Compensation (Details) - Summary of Stock-Settled Stock Appreciation Rights Transactions [Line Items] | ' | ' | ' |
Outstanding | 557,029 | 614,917 | 671,500 |
Outstanding (in Dollars per share) | $11.51 | $11.24 | $10.66 |
Granted | 202,884 | 194,223 | ' |
Granted (in Dollars per share) | $11.43 | $12.62 | ' |
Exercised | -206,441 | -138,252 | ' |
Exercised (in Dollars per share) | $10.73 | $9.32 | ' |
Cancelled | -23,181 | -26,154 | ' |
Cancelled (in Dollars per share) | $11.67 | $12.37 | ' |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Stock-Settled Stock Appreciation Rights Transactions [Line Items] | ' | ' | ' |
Outstanding | 226,406 | 176,476 | 257,424 |
Outstanding (in Dollars per share) | $11.52 | $11.60 | $11.32 |
Granted | 59,716 | 65,752 | ' |
Granted (in Dollars per share) | $11.29 | $13.15 | ' |
Exercised | -9,786 | -134,304 | ' |
Exercised (in Dollars per share) | $11.73 | $11.67 | ' |
Cancelled | ' | -12,396 | ' |
Cancelled (in Dollars per share) | ' | $13.15 | ' |
Note_13_ShareBased_Compensatio6
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
SARS (in Shares) | 557,029 | 614,917 | 671,500 |
Weighted Average Remaining Contractual Life (Years) | '3 years 105 days | ' | ' |
Weighted Average Exercise Price | $11.51 | ' | ' |
SARS 1 | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $9.80 | ' | ' |
SARS (in Shares) | 26,184 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '1 year 29 days | ' | ' |
Weighted Average Exercise Price | $9.80 | ' | ' |
SARS 2 | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
SARS (in Shares) | 200,222 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '2 years 324 days | ' | ' |
Weighted Average Exercise Price | $11.74 | ' | ' |
SARS 2 | Minimum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $11.24 | ' | ' |
SARS 2 | Maximum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $13.15 | ' | ' |
SARS 3 | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
SARS (in Shares) | 226,406 | ' | ' |
Weighted Average Remaining Contractual Life (Years) | '2 years 248 days | ' | ' |
Weighted Average Exercise Price | $11.52 | ' | ' |
SARS 3 | Minimum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $9.80 | ' | ' |
SARS 3 | Maximum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $13.15 | ' | ' |
Minimum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $7.63 | ' | ' |
Maximum [Member] | ' | ' | ' |
Note 13 - Share-Based Compensation (Details) - Summary of Information About Stock Appreciation Rights Outstanding [Line Items] | ' | ' | ' |
Range of Exercise Price | $16 | ' | ' |
Note_13_ShareBased_Compensatio7
Note 13 - Share-Based Compensation (Details) - Summary of Significant Assumptions for Share-based Compensation Awards (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Risk free interest rate (1) | ' | ' | ||
Expected award life (years) (2) | '5 years | ' | ||
Stock Appreciation Rights (SARs) [Member] | ' | ' | ||
Exercise price | ' | ' | ||
Exercise Price (in Dollars per share) | $11.29 | $13.15 | ||
Market price | ' | ' | ||
Market Price (in Dollars per share) | $11.29 | $13.15 | ||
Risk free interest rate (1) | ' | ' | ||
Risk Free Interest Rate | 0.90% | [1] | 0.80% | [1] |
Expected award life (years) (2) | ' | '5 years | [2] | |
Expected volatility (3) | ' | ' | ||
Expected Volatility | 46.00% | [3] | 45.10% | [3] |
Expected dividend yield (4) | ' | ' | ||
Exoected Dividend Yield | 4.80% | [4] | 4.10% | [4] |
Employee Stock Option [Member] | ' | ' | ||
Risk free interest rate (1) | ' | ' | ||
Risk Free Interest Rate | ' | [1] | ' | [1] |
Expected volatility (3) | ' | ' | ||
Expected Volatility | ' | [3] | ' | [3] |
Expected dividend yield (4) | ' | ' | ||
Exoected Dividend Yield | ' | [4] | ' | [4] |
Employee Stock Option [Member] | Minimum [Member] | ' | ' | ||
Exercise price | ' | ' | ||
Exercise Price (in Dollars per share) | $11.29 | $11.72 | ||
Market price | ' | ' | ||
Market Price (in Dollars per share) | $11.29 | $11.72 | ||
Risk free interest rate (1) | ' | ' | ||
Risk Free Interest Rate | 0.90% | [1] | 0.70% | [1] |
Expected award life (years) (2) | ' | '5 years | [2] | |
Expected volatility (3) | ' | ' | ||
Expected Volatility | 36.70% | [3] | 36.40% | [3] |
Expected dividend yield (4) | ' | ' | ||
Exoected Dividend Yield | 4.60% | [4] | 4.10% | [4] |
Employee Stock Option [Member] | Maximum [Member] | ' | ' | ||
Exercise price | ' | ' | ||
Exercise Price (in Dollars per share) | $11.76 | $13.15 | ||
Market price | ' | ' | ||
Market Price (in Dollars per share) | $11.76 | $13.15 | ||
Risk free interest rate (1) | ' | ' | ||
Risk Free Interest Rate | 1.70% | [1] | 1.90% | [1] |
Expected award life (years) (2) | ' | '10 years | [2] | |
Expected volatility (3) | ' | ' | ||
Expected Volatility | 46.00% | [3] | 45.90% | [3] |
Expected dividend yield (4) | ' | ' | ||
Exoected Dividend Yield | 4.80% | [4] | 4.60% | [4] |
[1] | The risk-free interest rate is based on the yield of a U.S. treasury bond with a similar maturity as the expected life of the awards. | |||
[2] | The expected life in years for awards granted was based on the historical exercise patterns experienced by the Company when the award is made. | |||
[3] | The determination of expected stock price volatility for awards granted in each of the two years ended December 31, was based on historical Superior common stock prices over a period commensurate with the expected life. | |||
[4] | The dividend yield assumption is based on the history and expectation of the Company's dividend payouts. |
Note_14_Earnings_Per_Share_Det
Note 14 - Earnings Per Share (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 14 - Earnings Per Share (Details) [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 225,556 | 259,131 |
Outstanding Stock Awards [Member] | ' | ' |
Note 14 - Earnings Per Share (Details) [Line Items] | ' | ' |
Investment Options, Exercise Price (in Dollars per share) | 12.79 | 12.98 |
Note_14_Earnings_Per_Share_Det1
Note 14 - Earnings Per Share (Details) - Reconciliation of Basic and Diluted Earnings Per Share (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Reconciliation of Basic and Diluted Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings used in the computation of basic and diluted earnings per share (in Dollars) | $1,675,000 | $1,508,000 | $1,438,000 | $1,229,000 | $485,000 | $1,242,000 | $977,000 | $327,000 | $5,850,000 | $3,031,000 |
Weighted average shares outstanding - basic | 6,452,587 | 6,346,260 | 6,126,323 | 6,121,180 | 6,091,377 | 6,063,269 | 6,066,244 | 6,025,874 | 6,261,588 | 6,061,691 |
Common stock equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 82,016 | 81,306 |
Total weighted average shares outstanding - diluted | 6,630,926 | 6,403,893 | 6,170,121 | 6,169,475 | 6,140,372 | 6,148,012 | 6,140,986 | 6,142,616 | 6,343,604 | 6,142,997 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (in Dollars per share) | $0.26 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.93 | $0.50 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (in Dollars per share) | $0.25 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.92 | $0.49 |
Note_15_Accrued_Expenses_Detai
Note 15 - Accrued Expenses (Details) - Accrued Expenses (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accrued Expenses [Abstract] | ' | ' |
Salaries, wages, commissions and vacation pay | $5,607,000 | $2,510,000 |
Accrued rebates | 826,000 | 143,000 |
Other accrued expenses | 1,335,000 | 569,000 |
$7,768,000 | $3,222,000 |
Note_16_Acquisition_of_Busines2
Note 16 - Acquisition of Business: (Details) (USD $) | 0 Months Ended | 12 Months Ended | |
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Payments to Acquire Businesses, Gross | $32,483,000 | ' | ' |
Business Combination, Contingent Consideration, Liability | 6,743,000 | 6,806,000 | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 18,900,000 | ' | ' |
Amortization of Intangible Assets | ' | 1,106,000 | 964,000 |
HPI [Member] | Customer Relationships [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 9,200,000 | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | '10 years | ' |
HPI [Member] | Noncompete Agreements [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 5,000,000 | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | '5 years | ' |
HPI [Member] | Trade Names [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 4,700,000 | ' | ' |
HPI [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Payments to Acquire Businesses, Gross | 32,500,000 | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 209,000 | ' | ' |
Business Combination, Contingent Consideration, Liability | 6,743,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 18,900,000 | ' | ' |
Amortization of Intangible Assets | ' | 960,000 | ' |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | ' | 995,000 | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | ' | 21,052,000 | ' |
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | ' | 840,000 | ' |
Customer Relationships [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | '9 years 219 days | '7 years |
Noncompete Agreements [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | '5 years | '3 years 6 months |
Maximum [Member] | HPI [Member] | ' | ' | ' |
Note 16 - Acquisition of Business: (Details) [Line Items] | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | $7,200,000 | ' | ' |
Note_16_Acquisition_of_Busines3
Note 16 - Acquisition of Business: (Details) - Summary of Purchase Price (USD $) | 0 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2013 | |
Summary of Purchase Price [Abstract] | ' | ' |
Cash consideration at closing | $32,483,000 | ' |
Restricted shares of Superior common stock issued | 1,555,000 | 1,555,000 |
Total Consideration | $34,038,000 | ' |
Note_16_Acquisition_of_Busines4
Note 16 - Acquisition of Business: (Details) - Summary of Assets and Liabilities Assumed (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
Summary of Assets and Liabilities Assumed [Abstract] | ' | ' |
Accounts receivable | ' | $4,672,000 |
Prepaid expenses and other current assets | ' | 1,096,000 |
Inventories | ' | 10,374,000 |
Property, plant and equipment | ' | 4,284,000 |
Identifiable intangible assets | ' | 18,900,000 |
Goodwill | 4,135,000 | 4,135,000 |
Total assets | ' | 43,461,000 |
Other current liabilities | ' | 2,680,000 |
Future contingent liabilities | 6,806,000 | 6,743,000 |
Total liabilities | ' | $9,423,000 |
Note_16_Acquisition_of_Busines5
Note 16 - Acquisition of Business: (Details) - Pro Forma Results of Operations (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $151,496,000 | $119,486,000 |
Income before taxes on income | ' | ' | ' | ' | ' | ' | ' | ' | 8,490,000 | 4,621,000 |
Net income | 1,675,000 | 1,508,000 | 1,438,000 | 1,229,000 | 485,000 | 1,242,000 | 977,000 | 327,000 | 5,850,000 | 3,031,000 |
(Basic) (in Shares) | 6,452,587 | 6,346,260 | 6,126,323 | 6,121,180 | 6,091,377 | 6,063,269 | 6,066,244 | 6,025,874 | 6,261,588 | 6,061,691 |
(Diluted) (in Shares) | 6,630,926 | 6,403,893 | 6,170,121 | 6,169,475 | 6,140,372 | 6,148,012 | 6,140,986 | 6,142,616 | 6,343,604 | 6,142,997 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | $0.26 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.93 | $0.50 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | $0.25 | $0.24 | $0.23 | $0.20 | $0.08 | $0.20 | $0.16 | $0.05 | $0.92 | $0.49 |
Pro Forma [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 168,838,000 | 149,447,000 |
Income before taxes on income | ' | ' | ' | ' | ' | ' | ' | ' | 9,590,000 | 3,407,000 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $6,565,000 | $2,242,000 |
(Basic) (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 6,365,897,000,000 | 6,270,308,000,000 |
(Diluted) (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 6,447,913,000,000 | 6,351,614,000,000 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.03 | $0.36 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.02 | $0.35 |
Note_17_Supplemental_Cash_Flow2
Note 17 - Supplemental Cash Flow Information (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 17 - Supplemental Cash Flow Information (Details) [Line Items] | ' | ' |
Stock Repurchased During Period, Shares | ' | 34,073 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 206,441 | 138,252 |
Employee Stock Option [Member] | ' | ' |
Note 17 - Supplemental Cash Flow Information (Details) [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | 41,596 |
Note_17_Supplemental_Cash_Flow3
Note 17 - Supplemental Cash Flow Information (Details) - Supplemental Cash Flow Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Income taxes paid | $2,537,000 | $1,981,000 |
Interest paid | $193,000 | $30,000 |
Note_18_Stock_Repurchase_Plan_
Note 18 - Stock Repurchase Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Aug. 01, 2008 | |
Stockholders' Equity Note [Abstract] | ' | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 261,675 | ' | 1,000,000 |
Stock Repurchased and Retired During Period, Shares | 13,211 | 36,570 | ' |
Stock Repurchased and Retired During Period, Value (in Dollars) | $162,000 | $437,000 | ' |
Note_19_Operating_Segment_Info2
Note 19 - Operating Segment Information (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_19_Operating_Segment_Info3
Note 19 - Operating Segment Information (Details) - Information Related to the Operations of the Companybs Operating Segments (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | $151,496,000 | $119,486,000 |
Gross Margin | 15,027,000 | 15,040,000 | 11,178,000 | 11,313,000 | 10,607,000 | 10,032,000 | 9,662,000 | 9,462,000 | 52,558,000 | 39,763,000 |
Selling and Administrative Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 43,873,000 | 33,886,000 |
Intangible asset impairment | ' | ' | ' | ' | 1,226,000 | ' | ' | ' | ' | 1,226,000 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 195,000 | 30,000 |
Earnings Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 8,490,000 | 4,621,000 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2,582,000 | 2,300,000 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,631,000 | 1,647,000 |
Total Assets | 125,494,000 | ' | ' | ' | 78,913,000 | ' | ' | ' | 125,494,000 | 78,913,000 |
Uniforms and Related Products | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 145,846,000 | 116,029,000 |
Gross Margin | ' | ' | ' | ' | ' | ' | ' | ' | 49,252,000 | 37,863,000 |
Selling and Administrative Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 42,854,000 | 33,869,000 |
Intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,226,000 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 195,000 | 30,000 |
Earnings Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 6,203,000 | 2,738,000 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2,375,000 | 2,139,000 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,274,000 | 801,000 |
Total Assets | 119,532,000 | ' | ' | ' | 72,980,000 | ' | ' | ' | 119,532,000 | 72,980,000 |
Remote Staffing Solutions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 9,285,000 | 7,196,000 |
Gross Margin | ' | ' | ' | ' | ' | ' | ' | ' | 5,720,000 | 4,251,000 |
Selling and Administrative Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,433,000 | 2,368,000 |
Earnings Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 2,287,000 | 1,883,000 |
Depreciation and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 207,000 | 161,000 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 357,000 | 846,000 |
Total Assets | 7,341,000 | ' | ' | ' | 7,385,000 | ' | ' | ' | 7,341,000 | 7,385,000 |
Intersegment Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | -3,635,000 | -3,739,000 |
Gross Margin | ' | ' | ' | ' | ' | ' | ' | ' | -2,414,000 | -2,351,000 |
Selling and Administrative Expenses | ' | ' | ' | ' | ' | ' | ' | ' | -2,414,000 | -2,351,000 |
Total Assets | ($1,379,000) | ' | ' | ' | ($1,452,000) | ' | ' | ' | ($1,379,000) | ($1,452,000) |
Note_20_Subsequent_Event_Detai
Note 20 - Subsequent Event (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | |
Jun. 30, 2013 | Dec. 31, 2013 | Feb. 07, 2014 | Feb. 07, 2014 | |
Subsequent Event [Member] | Subsequent Event [Member] | |||
Restricted Stock [Member] | Members of Senior Management [Member] | |||
Members of Senior Management [Member] | ||||
Note 20 - Subsequent Event (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | 50,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | $14.72 | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross (in Dollars) | $1,555,000 | $1,555,000 | ' | $736,000 |