Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 19, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | SUPERIOR GROUP OF COMPANIES, INC. | ||
Entity Central Index Key | 95,574 | ||
Trading Symbol | sgc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 15,343,736 | ||
Entity Public Float | $ 209.3 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 346,350 | $ 266,814 | $ 252,596 |
Costs and expenses: | |||
Cost of goods sold | 224,653 | 170,462 | 165,614 |
Selling and administrative expenses | 96,710 | 70,592 | 65,124 |
Other periodic pension costs | 385 | 1,224 | 1,272 |
Interest expense | 3,207 | 802 | 688 |
324,955 | 243,080 | 232,698 | |
Gain on sale of property, plant and equipment | 1,048 | ||
Income before taxes on income | 21,395 | 24,782 | 19,898 |
Income tax expense | 4,420 | 9,760 | 5,260 |
Net income | $ 16,975 | $ 15,022 | $ 14,638 |
Weighted average number of shares outstanding during the period | |||
(Basic) (in shares) | 14,937,786 | 14,510,156 | 14,082,243 |
(Diluted) (in shares) | 15,472,133 | 15,118,768 | 14,897,489 |
Basic | |||
Net earnings (in dollars per share) | $ 1.14 | $ 1.04 | $ 1.04 |
Diluted | |||
Net earnings (in dollars per share) | $ 1.10 | $ 0.99 | $ 0.98 |
Other comprehensive income (loss), net of tax: | |||
Recognition of net losses included in net periodic pension costs | $ 862 | $ 652 | $ 667 |
Recognition of settlement loss included in net periodic pension costs | 272 | 287 | |
Current period loss | (1,253) | (1,948) | (764) |
Gain (loss) on cash flow hedging activities | 203 | (111) | 95 |
Reclassification of gain on foreign currency transactions included in net income | (170) | ||
Foreign currency translation adjustments | (518) | 20 | 243 |
Other comprehensive (loss) income | (706) | (1,115) | 358 |
Comprehensive income | $ 16,269 | $ 13,907 | $ 14,996 |
Cash dividends per common share (in dollars per share) | $ 0.39 | $ 0.365 | $ 0.34 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 5,362 | $ 8,130 |
Accounts receivable, less allowance for doubtful accounts of $2,042 and $1,382, respectively | 64,017 | 50,569 |
Accounts receivable - other | 1,744 | 1,848 |
Inventory, Net, Total | 67,301 | 64,979 |
Contract asset | 49,236 | |
Prepaid expenses and other current assets | 9,552 | 11,011 |
TOTAL CURRENT ASSETS | 197,212 | 136,537 |
PROPERTY, PLANT AND EQUIPMENT, NET | 28,769 | 26,844 |
OTHER INTANGIBLE ASSETS, NET | 66,312 | 29,061 |
GOODWILL | 33,961 | 16,032 |
DEFERRED INCOME TAXES | 2,900 | |
OTHER ASSETS | 8,832 | 7,564 |
335,086 | 218,938 | |
CURRENT LIABILITIES: | ||
Accounts payable | 24,685 | 19,752 |
Other current liabilities | 14,767 | 12,409 |
Current portion of long-term debt | 6,000 | 6,000 |
Current portion of acquisition-related contigent liability | 941 | 3,061 |
TOTAL CURRENT LIABILITIES | 46,393 | 41,222 |
LONG-TERM DEBT | 111,522 | 32,933 |
LONG-TERM PENSION LIABILITY | 8,705 | 8,319 |
LONG-TERM ACQUISITION-RELATED CONTINGENT LIABILITIES | 5,422 | 7,283 |
DEFERRED INCOME TAXES | 8,475 | |
OTHER LONG-TERM LIABILITIES | 3,648 | 4,213 |
COMMITMENTS AND CONTINGENCIES (NOTE 11) | ||
SHAREHOLDERS' EQUITY: | ||
Preferred stock, $.001 par value - authorized 300,000 shares (none issued) | ||
Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding - 15,202,387 and 15,081,947, respectively. | 15 | 15 |
Additional paid-in capital | 55,859 | 49,103 |
Retained earnings | 103,032 | 83,129 |
Accumulated other comprehensive income (loss), net of tax: | ||
Pensions | (7,673) | (7,282) |
Cash flow hedges | 113 | (90) |
Foreign currency translation adjustment | (425) | 93 |
TOTAL SHAREHOLDERS' EQUITY | 150,921 | 124,968 |
$ 335,086 | $ 218,938 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts receivable, allowance for doubtful accounts | $ 2,042 | $ 1,382 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 300,000 | 300,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 15,202,387 | 15,081,947 |
Common stock, shares outstanding (in shares) | 15,202,387 | 15,081,947 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Stock Appreciation Rights (SARs) [Member]Common Stock [Member] | Stock Appreciation Rights (SARs) [Member]Additional Paid-in Capital [Member] | Stock Appreciation Rights (SARs) [Member]Retained Earnings [Member] | Stock Appreciation Rights (SARs) [Member]AOCI Attributable to Parent [Member] | Stock Appreciation Rights (SARs) [Member] | Restricted Stock [Member]Common Stock [Member] | Restricted Stock [Member]Additional Paid-in Capital [Member] | Restricted Stock [Member]Retained Earnings [Member] | Restricted Stock [Member]AOCI Attributable to Parent [Member] | Restricted Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 13,917,465 | ||||||||||||||
Balance at Dec. 31, 2015 | $ 14 | $ 33,806 | $ 65,392 | $ (6,522) | $ 92,690 | ||||||||||
Common shares issued upon exercise of options, net (in shares) | 251,996 | ||||||||||||||
Common shares issued upon exercise of options, net | $ 1 | 1,960 | (457) | 1,504 | |||||||||||
Restricted shares issued (in shares) | 333,190 | ||||||||||||||
Restricted shares issued | 4,558 | 4,558 | |||||||||||||
Common shares issued upon exercise of Stock Appreciation Rights (SARs) (in shares) | 55,656 | ||||||||||||||
Share-based compensation expense | 1,638 | $ 1,638 | |||||||||||||
Tax withheld on exercise of Stock Appreciation Rights (SARs) | $ (405) | $ (405) | |||||||||||||
Tax benefit from vesting of acquisition related restricted stock | $ 990 | $ 990 | |||||||||||||
Purchase and retirement of common shares (in shares) | (45,100) | (45,100) | |||||||||||||
Purchase and retirement of common shares | (131) | (583) | $ (714) | ||||||||||||
Cash dividends declared | (4,707) | (4,707) | |||||||||||||
Net income | 14,638 | 14,638 | |||||||||||||
Cash flow hedges, net of taxes | 95 | 95 | |||||||||||||
Pensions, net of taxes | 190 | 190 | |||||||||||||
Change in currency translation adjustment, net of taxes | 73 | 73 | |||||||||||||
Comprehensive Income: | 14,996 | ||||||||||||||
Balance (in shares) at Dec. 31, 2016 | 14,513,207 | ||||||||||||||
Balance at Dec. 31, 2016 | $ 15 | 42,416 | 74,283 | (6,164) | $ 110,550 | ||||||||||
Common shares issued upon exercise of options, net (in shares) | 285,745 | 336,726 | |||||||||||||
Common shares issued upon exercise of options, net | 2,779 | (907) | $ 1,872 | ||||||||||||
Restricted shares issued (in shares) | 181,399 | ||||||||||||||
Restricted shares issued | 2,780 | 2,780 | |||||||||||||
Common shares issued upon exercise of Stock Appreciation Rights (SARs) (in shares) | 101,596 | ||||||||||||||
Share-based compensation expense | 1,664 | 1,664 | |||||||||||||
Tax withheld on exercise of Stock Appreciation Rights (SARs) | (1,186) | (1,186) | |||||||||||||
Tax benefit from vesting of acquisition related restricted stock | 650 | $ 650 | |||||||||||||
Purchase and retirement of common shares (in shares) | 0 | ||||||||||||||
Cash dividends declared | (5,269) | $ (5,269) | |||||||||||||
Net income | 15,022 | 15,022 | |||||||||||||
Cash flow hedges, net of taxes | (111) | (111) | |||||||||||||
Pensions, net of taxes | (1,024) | (1,024) | |||||||||||||
Change in currency translation adjustment, net of taxes | 20 | 20 | |||||||||||||
Comprehensive Income: | $ 13,907 | ||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 15,081,947 | 15,081,947 | |||||||||||||
Balance at Dec. 31, 2017 | $ 15 | 49,103 | 83,129 | (7,279) | $ 124,968 | ||||||||||
Common shares issued upon exercise of options, net (in shares) | 87,347 | 94,241 | |||||||||||||
Common shares issued upon exercise of options, net | 878 | (151) | $ 727 | ||||||||||||
Restricted shares issued (in shares) | 150,094 | ||||||||||||||
Restricted shares issued | 3,762 | 3,762 | |||||||||||||
Common shares issued upon exercise of Stock Appreciation Rights (SARs) (in shares) | 3,428 | ||||||||||||||
Share-based compensation expense | 2,264 | 2,264 | |||||||||||||
Tax withheld on exercise of Stock Appreciation Rights (SARs) | (17) | (17) | |||||||||||||
Tax benefit from vesting of acquisition related restricted stock | 445 | $ 445 | |||||||||||||
Purchase and retirement of common shares (in shares) | (158,359) | ||||||||||||||
Cash dividends declared | (5,836) | $ (5,836) | |||||||||||||
Net income | 16,975 | 16,975 | |||||||||||||
Cash flow hedges, net of taxes | 203 | 203 | |||||||||||||
Pensions, net of taxes | (391) | (391) | |||||||||||||
Change in currency translation adjustment, net of taxes | (518) | (518) | |||||||||||||
Comprehensive Income: | 16,269 | ||||||||||||||
ASC 606 adjustment to opening retained earnings | 11,245 | 11,245 | |||||||||||||
Common shares repurchased (in shares) | (158,359) | ||||||||||||||
Common shares repurchased | (576) | (2,330) | $ (2,906) | ||||||||||||
Balance (in shares) at Dec. 31, 2018 | 15,202,387 | 15,202,387 | |||||||||||||
Balance at Dec. 31, 2018 | $ 15 | $ 55,859 | $ 103,032 | $ (7,985) | $ 150,921 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Retained Earnings [Member] | |||
Cash dividends declared, per share (in dollars per share) | $ (0.365) | $ (0.034) | |
AOCI Attributable to Parent [Member] | |||
Cash flow hedges, tax | $ 24 | ||
Pensions, taxes | 97 | ||
Cash dividends declared, per share (in dollars per share) | $ (0.39) | ||
Cash flow hedges, tax | $ 68 | $ 36 | |
Pensions, taxes | 123 | 59 | |
Change in currency translation adjustment, taxes | $ 189 | $ 13 | $ 41 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 16,975 | $ 15,022 | $ 14,638 |
Adjustments to reconcile net income to net cash provided from operating activities: | |||
Depreciation and amortization | 7,906 | 5,653 | 4,935 |
Provision for bad debts - accounts receivable | 867 | 1,002 | 512 |
Share-based compensation expense | 2,264 | 1,664 | 1,638 |
Deferred income tax (benefit) provision | (665) | 5,114 | (1,940) |
Gain on foreign currency transactions | (264) | ||
Gain on disposals of property, plant and equipment | (1,048) | ||
Change in fair value of acquisition-related contingent liabilities | (1,116) | (89) | (31) |
Changes in assets and liabilities, net of acquisition of businesses: | |||
Accounts receivable - trade | (4,886) | (4,731) | (7,244) |
Accounts receivable - other | 105 | 1,237 | 177 |
Contract asset | (3,382) | ||
Inventories | 3,501 | 4,250 | (5,427) |
Prepaid expenses and other current assets | 1,550 | (4,151) | 2,203 |
Other assets | (1,257) | (4,504) | (1,029) |
Accounts payable and other current liabilties | (1,344) | 3,362 | 2,030 |
Long-term pension liability | (128) | (2,577) | 829 |
Other long-term liabilities | (526) | 2,523 | 962 |
Net cash provided from operating activities | 19,864 | 22,727 | 11,989 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Additions to property, plant and equipment | (4,869) | (4,248) | (7,385) |
Proceeds from disposals of property, plant and equipment | 2,858 | ||
Acquisition of businesses, net of acquired cash | (85,597) | (7,988) | (15,161) |
Net cash used in investing activities | (90,466) | (9,378) | (22,546) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Proceeds from long-term debt | 206,025 | 74,387 | 125,067 |
Repayment of long-term debt | (127,439) | (77,573) | (106,827) |
Payment of cash dividends | (5,836) | (5,269) | (4,707) |
Payment of acquisition-related contingent liabilities | (2,861) | (1,800) | (1,800) |
Proceeds received on exercise of stock options | 727 | 1,872 | 1,504 |
Tax benefit from vesting of acquisition related restricted stock | 445 | 650 | 990 |
Tax withholdings on exercise of stock rights | (17) | (1,186) | (405) |
Common stock reacquired and retired | (2,906) | (714) | |
Net cash provided from (used in) financing activities | 68,138 | (8,919) | 13,108 |
Effect of exchange rates on cash | (304) | 51 | 62 |
Net (decrease) increase in cash and cash equivalents | (2,768) | 4,481 | 2,613 |
Cash and cash equivalents balance, beginning of year | 8,130 | 3,649 | 1,036 |
Cash and cash equivalents balance, end of year | $ 5,362 | $ 8,130 | $ 3,649 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 a) Business description Superior’s Uniforms and Related Products segment, through its primary signature marketing brands Fashion Seal Healthcare ® ® third Superior services its Remote Staffing Solutions segment through multiple The Office Gurus entities, including its subsidiaries in El Salvador, Belize, and the United States (collectively, “TOG”). TOG is a near-shore premium provider of cost effective multilingual telemarketing and total office support solutions. The Promotional Products segment, through the BAMKO, Public Identity and Tangerine brands, services customers that purchase primarily promotional and related products. The segment currently has sales offices in the United States and Brazil with support services in China, Hong Kong and India. b) Basis of presentation The consolidated financial statements include the accounts of Superior Group of Companies, Inc. and its wholly-owned subsidiaries, The Office Gurus, LLC, SUG Holding, Fashion Seal Corporation, BAMKO, LLC and CID Resources, Inc.; 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; BAMKO Importação, Exportação e Comércio de Brindes Ltda., a subsidiary of BAMKO, LLC and SUG Holding; Guangzhou Ben Gao Trading Limited, Worldwide Sourcing Solutions Limited, and BAMKO UK, Limited, each a direct or indirect subsidiary of BAMKO, LLC, and BAMKO India Private Limited, a 99% May 3, 2108, c) Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three d) Revenue recognition and allowance for doubtful accounts The Company recognizes revenue in accordance with ASC 606 January 1, 2018. no may not may 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 of the years ended December 31, 2018, 2017 2016, $0.7 $0.1 $0.1 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, receiving and inspection costs, for our Uniforms and Related Products segment and our Promotional 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 $14.0 $10.9 $10.6 December 31, 2018, 2017 2016, h) Inventories Inventories are stated at the lower of cost ( first first may 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 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 not may • 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 three $22.1 $11.9 An entity has the option to first not 50% not not December 31, 2018 k) Other intangible assets Other intangible assets consist of customer relationships, non-compete agreements and trade names acquired in previous business acquisitions. The cost, amortization and net value of customer relationships and non-compete agreement as of December 31, 2018 2017 Customer Weighted Average Life Non-Compete Agreement Weighted Average Life (years) Customer Backlog Weighted Average Life (years) December 31, 2018 Cost $ 41,530 10.8 $ 1,411 4.1 $ - - Accumulated amortization (7,762 ) (326 ) - Net $ 33,768 $ 1,085 $ - December 31, 2017 Cost $ 15,530 8.8 $ 5,551 5.1 $ 122 0.5 Accumulated amortization (4,782 ) (4,619 ) (10 ) Net $ 10,748 $ 932 $ 112 Amortization expense for other intangible assets was $3.8 $2.4 $2.3 December 31, 2018, 2017 2016, $3.8 December 31, 2019 2022; $3.0 2023; $2.2 2024; $1.7 2025 2034. As part of the acquisition of HPI in 2013, $4.7 not As part of the acquisition of BAMKO in 2016, $8.9 not As part of the acquisitions of Public Identity and Tangerine in 2017, $0.5 $3.2 not As part of the acquisition of CID Resources in 2018, $14.2 not l) Depreciation and amortization Plant and equipment are depreciated on the straight-line basis at 2.5% 5% 2.5% 20% 10% 33.33% 20% 33.33% m) Employee benefits Pension plan costs are funded currently based on actuarial estimates, with prior service costs amortized over 20 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 may 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 not 7. 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 no December 31, 2018, 2017, 2016. q) Share-based compensation The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. The company grants options, stock-settled stock appreciation rights, restricted stock, and performance shares. At December 31, 2018, 3,498,367 2013 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, risk free interest rate and dividend rate. 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, stock-settled stock appreciation rights, restricted stock, and performance shares. 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 The Financial Accounting Standards Board (“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 three 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, 2018 2017, no 7.4% December 31, 2018 2017, five $12.8 $14.2 20.0% 28.0% December 31, 2018, 2017, 2016 $20.1 $20.6 $19.3 5.8%, 7.7% 7.6% five December 31, 2018, 2017 2016 $47.1 $50.7 $57.6 13.6%, 19.0% 22.8% Included in accounts receivable-other on the Company’s consolidated balance sheets at December 31, 2018 2017 $1.6 $1.5 In 2018, 2017 2016, 24%, 34% 31%, 2018, 2017 2016, 25%, 34% 32%, 2018, 2017 2016, 28%, 67% 59%, 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, 2018 2017, 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. x In February 2016, 842, No. 2016 02, 842 No. 2018 01, 842; No. 2018 10, 842, No. 2018 11, 12 January 1, 2019. not not January 1, 2019. not not not not $2.0 $4.0 In August 2016, 2016 15, 230 December 15, 2017 2017 07 2018. In March 2017, 2017 07, one December 15, 2017 2017 07 first 2018. 2017 In May 2014, 2014 09, 606 606” five 606 January 1, 2018 not no no no not We recorded a net increase in opening retained earnings of $11.2 January 1, 2018 606. twelve December 31, 2018 $3.5 606. The opening retained earnings adjustment is as follows (in thousands): Net sales $ 42,880 Cost of goods sold 27,397 Selling and administrative expenses 706 Income before taxes on income 14,777 Income tax expense 3,532 Adjustment to opening retained earnings $ 11,245 Payment of the cumulative tax adjustment will be made over four The following table disaggregates our net sales by major source (in thousands): As Reported for Balances Twelve Months Without Ended Adoption of Effect of Change 12/31/2018 ASC 606 12/31/2018 Uniform and Related Products $ 238,166 $ 237,095 $ 1,071 Remote Staffing Solutions 27,272 27,272 - Promotional Products 80,912 78,514 2,398 $ 346,350 $ 342,881 $ 3,469 Revenue for our Uniforms and Related Products and Promotional Products segments is recognized when the obligations under the terms of a contract with a customer are satisfied. This generally occurs when the goods are transferred to the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for the goods. Sales taxes, sales discounts and customer rebates are also excluded from revenue. In accordance with ASC 606 no may 606 not may not not not 606 twelve December 31, 2018. The Company does not 606 December 31, 2018. The impact of adoption of ASC 606 December 31, 2018 Balances Without Effect of As Reported Adoption of Change 12/31/2018 ASC 606 12/31/2018 Balance Sheet: Assets: Contract assets $ 49,236 $ - $ 49,236 Inventory 67,301 95,984 (28,683 ) Liabilities: Accounts payable $ 24,685 $ 21,981 $ 2,704 Other current liabilities 14,767 12,798 1,969 Deferred taxes 8,475 5,589 2,886 In accordance with ASC 606, $49.2 December 31, 2018 not As Reported for Balances Twelve Months Without Effect of Ended Adoption of Change 12/31/2018 ASC 606 12/31/2018 Statement of comprehensive income: Net sales $ 346,350 $ 342,881 $ 3,469 Cost of goods sold 224,653 221,920 2,733 Selling and administrative expenses 96,710 96,758 (48 ) The cost of goods sold associated with our ASC 606 |
Note 2 - Allowance for Doubtful
Note 2 - Allowance for Doubtful Accounts Receivable | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 2 The activity in the allowance for doubtful accounts receivable was as follows (in thousands): 2018 2017 2016 Balance at the beginning of year $ 1,382 $ 1,276 $ 848 Provision for bad debts 867 1,002 523 Charge-offs (210 ) (901 ) (96 ) Recoveries 3 5 1 Balance at the end of year $ 2,042 $ 1,382 $ 1,276 |
Note 3 - Reserve for Sales Retu
Note 3 - Reserve for Sales Returns and Allowance | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Reserve For Sales Returns And Allowances Disclosure [Text Block] | NOTE 3 The activity in the reserve for sales returns and allowances was as follows (in thousands): 2018 2017 2016 Balance at the beginning of year $ 1,125 $ 1,967 $ 1,384 Provision for returns and allowances 4,908 2,789 4,445 Actual returns and allowances paid to customers (4,140 ) (3,631 ) (3,862 ) Balance at the end of year $ 1,893 $ 1,125 $ 1,967 |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 (In thousands) December 31, 2018 2017 Finished goods $ 58,196 $ 54,354 Work in process 650 604 Raw materials 8,455 10,021 $ 67,301 $ 64,979 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 (In thousands) December 31, 2018 2017 Land $ 3,635 $ 3,635 Buildings, improvements and leaseholds 18,519 18,192 Machinery, equipment and fixtures 58,111 52,594 80,265 74,421 Accumulated depreciation and amortization (51,496 ) (47,577 ) $ 28,769 $ 26,844 Depreciation and amortization charges were approximately $4.1 $3.3 $2.6 2018, 2017, 2016 |
Note 6 - Long-term Debt
Note 6 - Long-term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 6 (In thousands) December 31, December 31, 2018 2017 Note payable to BB&T, pursuant to revolving credit agreement, maturing May 2023 $ 1,193 $ 1,475 Term loan payable to BB&T maturing February 26, 2024 $ 31,500 $ 37,500 Term loan payable to BB&T maturing May 2020 $ 85,000 $ - $ 117,693 $ 38,975 Less: Payments due within one year included in current liabilities $ 6,000 $ 6,000 Debt issuance costs $ 171 $ 42 Long-term debt less current maturities $ 111,522 $ 32,933 Effective March 8, 2016, 5 $15 $20 $45 one 0.85% 1/8 th 1% 0.85%. 0.10% February 28, 2017 Effective February 28, 2017, 7 $35 February 25, 2022, $42 February 26, 2024. one 1/100 th 1% 0.75%. 0.10% Effective May 2, 2018, May 2, 2018 ( $35 $75 $85 No $85 May 2023 $85 May 2020. $42 February 2024 $42 2019 2023 $ 6.0 2024 $1.5 $42 $85 Obligations outstanding under the revolving credit facility and the $42 one 0.68% 3.14% December 31, 2018). $85 one 0.93% first twelve 3.39% December 31, 2018), 1.5% thirteen eighteen 1.75% 0.10% 0.25% $85 June 1, 2019 December 1, 2019. December 31, 2018, no not The Amended and Restated Credit Agreement contains customary events of default and negative covenants, including but not 1.25:1 not 4.0:1. December 31, 2018, In connection with the Credit Agreement and the Amended and Restated Credit Agreement, the Company incurred approximately $0.1 $0.2 On January 22, 2019, $85 $20 $65 January 22, 2026 $0.85%. $65 2019 $8.5 2020 2025 $ 9.3 2026 $0.8 $0.2 Effective July 1, 2013, 2.53% July 1, 2014 $14.3 $0.2 July 1, 2015 $0.3 June 1, 2018 $3.3 July 1, 2018. March 8, 2016, 2.43%. February 24, 2017, $0.1 Effective March 3, 2017, 3.12% March 1, 2018 $18.0 $0.3 April 1, 2018 February 26, 2024. May 2, 2018, 3.05% May 1, 2018 $17.5 no not May 2, 2018, $0.1 December 31, 2018, $0.1 December 31 2018, $0.1 |
Note 7 - Taxes on Income
Note 7 - Taxes on Income | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 7 Aggregate income tax provisions consist of the following (in thousands): 2018 2017 2016 Current: Federal $ 3,613 $ 2,846 $ 5,642 Tax Cut and Jobs Act - 265 - State and local 643 647 628 Foreign 789 338 - 5,045 4,096 6,270 Long Term: Tax Cut and Jobs Act - 1,336 - Deferred Taxes: Deferred tax (benefit) provision (625 ) 1,899 (1,010 ) Tax Cut and Jobs Act re-measurement - 2,429 - (625 ) 4,328 (1,010 ) $ 4,420 $ 9,760 $ 5,260 The significant components of the deferred income tax (liability) asset are as follows (in thousands): 2018 2017 Deferred income tax assets: Pension accruals $ 2,729 $ 2,606 Operating reserves and other accruals 1,984 2,174 Tax carrying value in excess of book basis of intangibles - 866 Tax credits 748 255 Valuation allowance on tax credits (748 ) (255 ) Deferred income tax liabilities: Book carrying value in excess of tax basis of property (1,495 ) (937 ) Book carrying value in excess of tax basis of intangibles (6,906 ) - Tax effect of revenue recognition standard ASC 606 (2,657 ) - Deferred expenses (2,130 ) (1,809 ) Net deferred income tax (liability) asset $ (8,475 ) $ 2,900 The difference between the total statutory Federal income tax rate and the actual effective income tax rate is accounted for as follows: 2018 2017 2016 Statutory Federal income tax rate 21.0 % 34.0 % 34.0 % State and local income taxes, net of Federal income tax benefit 2.0 1.5 1.9 Current year untaxed foreign income (8.3 ) (6.5 ) (5.1 ) Foreign Taxes 2.6 1.4 - GILTI Tax 2.7 - - Contingent liability adjustments (1.4 ) - - Non-deductible share-based employee compensation expense 0.6 1.1 1.2 Excess tax benefit from stock compensation (0.3 ) (7.2 ) (4.4 ) Excess executive compensation 0.9 - - Non-deductible acquisition expense 1.7 - - Federal tax credits (0.4 ) (0.5 ) (0.8 ) Tax Cut and Jobs Act deferred tax re-measurement - 6.9 - Tax on undistributed foreign earnings 1.1 2.9 - Transition tax (repatriation) (0.8 ) 5.9 - Other items (0.7 ) (0.1 ) (0.4 ) Effective income tax rate 20.7 % 39.4 % 26.4 % On December 22, 2017, 34% 21%, one 2017, $9.8 $4.0 $3.3 $0.7 Effective January 1, 2018, 21%, 34% one 2017 one 15.5% 8% no $0.9 Effective January 1, 2018, Only tax positions that meet the more-likely-than- not December 31, 2018 2017, $0.6 $0.5 not twelve $0.6 December 31, 2018 Changes in the Company’s gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows: (In thousands) 2018 2017 Balance at the beginning of year $ 400 $ 399 Additions based on tax positions related to the current year 56 59 Additions for tax positions of prior years 85 - Reductions due to lapse of statute of limitations (64 ) (58 ) Balance at the end of year $ 477 $ 400 We recognize interest and penalties accrued related to unrecognized tax benefits in the provision for income taxes. During each of the years 2018, 2017 2016, $ 0.1 2018, 2017 2016, $ 0.1 December 31, 2018 2017, $ 0.1 We anticipate that it is reasonably possible that the total amount of unrecognized tax benefits could decrease by approximately $0.1 12 2015 2011. |
Note 8 - Benefit Plans
Note 8 - Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 8 – Benefit Plans: Defined Benefit Plans The Company is the sponsor of two 65, Effective June 30, 2013, no Effective December 31, 2014, no The Company recognizes the funded status of its defined benefit post retirement plans in the Company’s consolidated balance sheets. At December 31, 2018, $1.7 $8.8 It is our policy to make contributions to the various plans in accordance with statutory funding requirements and any additional funding that may 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 December 31, 2018 2017: (In thousands) December 31, 2018 2017 Changes in benefit obligation Benefit obligation at beginning of year $ 28,386 $ 25,258 Service cost 108 65 Interest cost 970 965 Actuarial (gain) loss (1,597 ) 3,755 Benefits paid (742 ) (1,657 ) Benefit obligation at end of year 27,125 28,386 Changes in plan assets Fair value of plan assets at beginning of year 22,145 15,791 Actual return on assets (1,526 ) 2,413 Employer contributions 103 5,598 Benefits paid (742 ) (1,657 ) Fair value of plan assets at end of year 19,980 22,145 Funded status at end of year $ (7,145 ) $ (6,241 ) Amounts recognized in consolidated balance sheet Other assets $ 1,663 $ 2,181 Other current liabilities (103 ) (103 ) Long-term pension liability (8,705 ) (8,319 ) (7,145 ) (6,241 ) Amounts recognized in accumulated other comprehensive income consist of: Net actuarial loss $ 11,417 $ 10,903 Information for pension plans with projected benefit obligation in excess of plan assets December 31, 2018 2017 Projected benefit obligation $ 27,125 $ 28,386 Fair value of plan assets (19,980 ) (22,145 ) $ 7,145 $ 6,241 Components of net periodic benefit cost 2018 2017 2016 Service cost - benefits earned during the period $ 108 $ 65 $ 57 Interest cost on projected benefit obligation 970 965 988 Expected return on plan assets (1,717 ) (1,218 ) (1,188 ) Recognized actuarial loss 1,132 1,042 1,027 Settlement loss - 435 445 Net periodic pension cost after settlements $ 493 $ 1,289 $ 1,329 The pension settlement losses 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 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 is $1.3 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, Long Term Rate Discount Rate of Return Salary Scale Corp. Plants Corp. Plants Corp. Plants 2017 3.53 % 3.45 % 8.00 % 8.00 % N/A N/A 2018 4.14 % 4.06 % 8.00 % 8.00 % N/A N/A Weighted-average assumptions used to determine net periodic benefit cost for years ending December 31, Long Term Rate Discount Rate of Return Salary Scale Corp. Plants Corp. Plants Corp. Plants 2016 4.19 % 4.09 % 8.00 % 8.00 % N/A N/A 2017 4.04 % 3.91 % 8.00 % 8.00 % N/A N/A 2018 3.53 % 3.45 % 8.00 % 8.00 % N/A 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, 2018, 2017 2019 Percentage of Plan Target Allocation Investment description 201 8 201 7 201 9 Equity securities 59 % 52 % 60 % Fixed income 40 % 29 % 40 % Other 1 % 19 % - % Total 100 % 100 % 100 % The Company plans to contribute $0.1 2019. The following table includes projected benefit payments for the years indicated: Year Projected Benefit Payments (in thousands) 2019 $ 1,612 2020 $ 2,108 2021 $ 2,000 2022 $ 2,009 2023 $ 1,471 2024-2028 $ 8,590 Rabbi Trust In connection with the Company’s unfunded SERP, we have life insurance contracts on the lives of designated individuals. The insurance contracts associated with the SERP are held in a Rabbi trust. The trust is the owner and beneficiary of such insurance contracts. The policies are being utilized to help offset the costs and liabilities of the SERP. The cash surrender value of the life insurance contracts was $2.7 $2.2 December 31, 2018 2017 $0.3 December 31, 2018. $0.3 $0.1 December 31, 2017 2016 In 2013, $2.9 $2.2 December 31, 2018 2017 $2.9 $2.2 December 31, 2018 2017 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 25% 3% December 31, 2018, 2017 2016 $0.8 $1.0 $1.1 |
Note 9 - Quarterly Results for
Note 9 - Quarterly Results for 2018, 2017, and 2016 (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 9 2018, 2017 2016 (In thousands, except shares and per share data) Quarter Ended March 31, June 30, September 30, December 31, 2018 2018 2018 2018 Net sales $ 73,087 $ 82,392 $ 95,870 $ 95,001 Gross profit $ 24,875 $ 29,278 $ 33,800 $ 33,744 Income before taxes on income $ 3,320 $ 5,097 $ 7,282 $ 5,696 Net income $ 2,450 $ 3,817 $ 6,122 $ 4,586 Per Share Data: Basic Net earnings $ 0.17 $ 0.26 $ 0.41 $ 0.31 Diluted Net earnings $ 0.16 $ 0.25 $ 0.39 $ 0.30 Average Outstanding Shares (Basic) 14,821,659 14,956,221 15,010,660 14,962,603 Average Outstanding Shares (Diluted) 15,457,629 15,990,404 15,449,894 15,371,606 Quarter Ended March 31, June 30, September 30, December 31, 2017 2017 2017 2017 Net sales $ 60,987 $ 65,604 $ 67,773 $ 72,450 Gross profit $ 22,214 $ 23,374 $ 24,789 $ 25,975 Income before taxes on income $ 5,405 $ 5,701 $ 6,842 $ 6,834 Net income $ 3,835 $ 4,341 $ 4,962 $ 1,884 Per Share Data: Basic Net earnings $ 0.27 $ 0.30 $ 0.34 $ 0.13 Diluted Net earnings $ 0.26 $ 0.29 $ 0.33 $ 0.12 Average Outstanding Shares (Basic) 14,350,721 14,501,399 14,573,813 14,614,691 Average Outstanding Shares (Diluted) 14,929,695 15,040,431 15,229,722 15,275,222 Quarter Ended March 31, June 30, September 30, December 31, 2016 2016 2016 2016 (restated) (restated) (restated) Net sales $ 57,968 $ 64,660 $ 65,282 $ 64,686 Gross profit $ 20,021 $ 21,763 $ 23,140 $ 22,058 Income before taxes on income $ 3,410 $ 4,615 $ 6,006 $ 5,867 Net income $ 2,442 $ 3,308 $ 4,447 $ 4,441 Per Share Data: Basic Net earnings $ 0.18 $ 0.23 $ 0.31 $ 0.31 Diluted Net earnings $ 0.17 $ 0.22 $ 0.30 $ 0.30 Average Outstanding Shares (Basic) 13,927,063 14,120,617 14,118,354 14,162,939 Average Outstanding Shares (Diluted) 14,668,658 14,957,469 14,984,084 14,979,746 On December 22, 2017, fourth 2017, $5.0 $4.0 7. The Company elected to early adopt ASU 2016 09 fourth 2016. $0.2 three March 31, 2016, $0.2 three June 30, 2016, $0.1 three September 30, 2016, third 2016. 1 x |
Note 10 - Rentals
Note 10 - Rentals | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 10 – Rentals: Aggregate rent expense, including month-to-month rentals, approximated $2.1 $1.1 $1.1 December 31, 2018, 2017, 2016, $5.8 2019 2020 $2.9 2021 2022 $1.9 2023 2025 $1.0 |
Note 11 - Contingencies
Note 11 - Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11 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 During 2005, |
Note 12 - Share-based Compensat
Note 12 - Share-based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 1 2 – Share-Based Compensation: In 2003, 2003 “2003 May 2013, 2013 “2013 5,000,000 2003 2013 December 31, 2018, 3,498,367 2013 Share-based compensation is recorded in selling and administrative expense in the consolidated statements of comprehensive income. The following table details the share-based compensation expense by plan and the total related tax benefit for the periods presented: Year Ended December 31, (In thousands) 2018 2017 2016 Stock options and SARS $ 984 $ 1,093 $ 1,071 Restricted stock 551 331 317 Performance shares 729 240 250 Total share-based compensation expense $ 2,264 $ 1,664 $ 1,638 Related income tax benefit $ 282 $ 229 $ 325 Stock options and SARS The Company grants stock options and stock settled SARS to employees that allow them to purchase shares of the Company’s common stock. Options are also granted to outside members of the Board of Directors of the Company. The Company determines the fair value of stock options and SARS at the date of grant using the Black-Scholes valuation model. Options and SARS vest immediately at the date of grant or after a two five ten A summary of stock option transactions during the two December 31, 2018 No. of Weighted Average Shares Exercise Price Outstanding December 31, 2016 825,251 $ 10.46 Granted 155,142 18.67 Exercised (336,726 ) 8.71 Lapsed (1,100 ) 5.86 Cancelled (8,690 ) 15.82 Outstanding December 31, 2017 633,877 $ 13.33 Granted 141,630 22.20 Exercised (94,241 ) 9.56 Lapsed (1,800 ) 5.88 Cancelled (2,620 ) 20.05 Outstanding December 31, 2018 676,846 $ 15.70 At December 31, 2018, 633,601 43,245 1.59 $2.2 36 Options exercised during the years ended December 31, 2018, 2017 2016 $1.2 $4.2 $3.1 The weighted average fair values of the Company’s 141,630, 155,142 172,862 December 31, 2018, 2017 2016 $5.93 $5.56 $4.69, December 31, 2018, $0.2 1.59 During the years ended December 31, 2018, 2017 2016, $0.7 $1.9 $1.5 $0.1 $0.8 $0.4 December 31, 2018, 2017 2016, 6,894, 50,981 27,770 26,234, 144,443 81,608 The following table summarizes information about stock options outstanding as of December 31, 2018: Range of Weighted Average Remaining Weighted Average Exercise Price Shares Contractual Life (Years) Exercise Price $ 3.82 - $ 5.88 89,000 2.61 $5.33 $ 7.36 - $10.38 97,344 1.67 $8.00 $16.35 - $18.86 347,472 2.91 $17.50 $21.63 - $24.28 143,030 4.33 $23.03 $ 3.82 - $24.28 676,846 3.12 $15.70 A summary of stock-settled SARS transactions during the two December 31, 2018 No. of Weighted Average Shares Exercise Price Outstanding December 31, 2016 325,506 $ 10.26 Granted 43,988 16.97 Exercised (222,990 ) 6.90 Lapsed - - Cancelled - - Outstanding December 31, 2017 146,504 $ 17.38 Granted 48,515 23.59 Exercised (12,125 ) 17.92 Lapsed - - Cancelled - - Outstanding December 31, 2018 182,894 $ 18.99 At December 31, 2018, $0.1 31 SARS exercised during the years ended December 31, 2018, 2017 2016, $0.1 $3.5 $1.5 $0.1 $1.3 $0.5 December 31, 2018, 2017 2016 $6.06, $4.83 $4.49, The following table summarizes information about SARS outstanding as of December 31, 2018: Range of Weighted Average Remaining Weighted Average Exercise Price SARS Contractual Life (Years) Exercise Price $16.35 - $18.66 134,379 2.08 $17.33 $23.59 - $23.59 48,515 4.08 $23.59 $16.35 - $23.59 182,894 2.61 $18.99 At December 31, 2018 3,498,367. The following table summarizes significant assumptions utilized to determine the fair value of options and SARS: Years ended December 31, SARS Options Exercise price 2018 $23.59 $18.86 - $24.28 2017 $16.97 $16.97 - $21.63 2016 $16.35 $16.35 - $18.55 Market price 2018 $23.59 $18.86 - $24.28 2017 $16.97 $16.97 - $21.63 2016 $16.35 $16.35 - $18.55 Risk free interest rate 1 2018 2.6% 2.6% - 2.9% 2017 1.9% 1.8% - 2.4% 2016 1.3% 1.1% - 1.8% Expected award life (years) 2 2018 3 3 - 10 2017 5 5 - 10 2016 5 5 - 10 Expected volatility 3 2018 38.1% 35.4% - 42.1% 2017 36.6% 36.6% - 41.4% 2016 36.5% 36.5% - 40.3% Expected dividend yield 4 2018 1.6% 1.6% - 2.1% 2017 2.1% 1.8% - 2.1% 2016 2.0% 1.8% - 2.1% 1 2 3 three December 31, 2018, 2017 2016 4 Restricted Stock The Company has granted restricted stock to directors and certain employees under the terms of the 2013 three 2013 December 31, 2018, $1.0 1.66 A summary of restricted stock transactions during the two December 31, 2018 No. of Weighted Average Shares Grant Date Fair Value Outstanding December 31, 2016 123,688 $ 8.94 Granted 43,706 18.30 Vested (106,016 ) 7.62 Forfeited - - Outstanding December 31, 2017 61,378 $ 17.89 Granted 37,930 21.63 Vested (7,276 ) 17.59 Forfeited - - Outstanding December 31, 2018 92,032 $ 19.46 Performance Shares In 2016, 2013 three five five 2013 December 31, 2018, $2.7 2.67 A summary of performance share transactions during the year ended December 31, 2018 No. of Weighted Average Shares Grant Date Fair Value Outstanding December 31, 2017 118,492 $ 17.24 Granted 84,838 24.56 Vested - - Forfeited (8,952 ) 24.98 Outstanding December 31, 2018 194,378 $ 20.08 |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 13 The following table represents a reconciliation of basic and diluted earnings per share: 2018 2017 2016 Net earnings used in the computation of basic and diluted earnings per share (in thousands) $ 16,975 $ 15,022 $ 14,638 Weighted average shares outstanding - basic 14,937,786 14,510,156 14,082,243 Common stock equivalents 534,347 608,612 815,246 Total weighted average shares outstanding - diluted 15,472,133 15,118,768 14,897,489 Per Share Data: Basic Net earnings $ 1.14 $ 1.04 $ 1.04 Diluted Net earnings $ 1.10 $ 0.99 $ 0.98 Awards to purchase an average of 322,000 $21.34 2018 not 37,450 $18.65 2017 not 124,000 $18.53 2016 not |
Note 14 - Other Current Liabili
Note 14 - Other Current Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 14 (In thousands) Year Ended December 31, 2018 2017 Salaries, wages, commissions and vacation pay $ 6,483 $ 7,851 Accrued rebates 1,857 1,089 Income taxes payable 1,586 211 401K profit sharing accrual 961 912 Defined contribution plan accrual 103 104 Customer deposits 437 473 Other accrued expenses 3,340 1,769 $ 14,767 $ 12,409 |
Note 15 - Supplemental Cash Flo
Note 15 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 15 (In thousands) Year Ended December 31, 2018 2017 2016 Income taxes paid $ 1,088 $ 7,173 $ 5,076 Interest paid $ 2,724 $ 727 $ 694 During the years ended December 31, 2018, 2017, 2016 6,894, 50,981 27,770 26,234, 144,443 81,608 As a result of the adoption of ASC 606, January 1, 2018: $43.3 $24.9 $2.6 $1.1 $3.5 |
Note 16 - Stock Repurchase Plan
Note 16 - Stock Repurchase Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 16 – Stock Repurchase Plan: On August 1, 2008, 1,000,000 158,359, 0 45,100 December 31, 2018, 2017 2016, December 31, 2018, 58,216 no |
Note 17 - Operating Segment Inf
Note 17 - Operating Segment Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 1 7 – Operating Segment Information : The Company classifies its businesses into three 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 (In thousands) Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2018 Net sales $ 238,165 31,311 80,913 (4,039 ) $ 346,350 Gross margin $ 83,728 17,907 22,671 (2,609 ) $ 121,697 Selling and administrative expenses 68,848 11,160 19,311 (2,609 ) 96,710 Other periodic pension cost 385 - - - 385 Interest expense 2,019 - 1,188 - 3,207 Income before taxes on income $ 12,476 $ 6,747 $ 2,172 $ - $ 21,395 Depreciation and amortization $ 5,611 990 1,299 - $ 7,900 Capital expenditures $ 2,794 1,581 494 - $ 4,869 Total assets $ 331,113 29,590 61,993 (87,610 ) $ 335,086 Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2017 Net sales $ 204,644 $ 23,021 $ 42,904 $ (3,755 ) $ 266,814 Gross margin $ 72,463 $ 12,460 $ 13,860 $ (2,431 ) $ 96,352 Selling and administrative expenses 52,967 7,877 12,179 (2,431 ) 70,592 Other periodic pension cost 1,224 - - - 1,224 Gain (loss) on sale of property, plant and equipment (2 ) 1,050 - - 1,048 Interest expense 387 - 415 - 802 Income before taxes on income $ 17,883 $ 5,633 $ 1,266 $ - $ 24,782 Depreciation and amortization $ 4,223 $ 846 $ 584 $ - $ 5,653 Capital expenditures $ 2,870 $ 1,156 $ 219 $ - $ 4,245 Total assets $ 182,623 $ 21,846 $ 54,997 $ (40,528 ) $ 218,938 Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2016 Net sales $ 210,373 $ 17,953 $ 27,816 $ (3,546 ) $ 252,596 Gross margin $ 69,987 $ 9,616 $ 9,690 $ (2,311 ) $ 86,982 Selling and administrative expenses 50,953 6,096 10,386 (2,311 ) 65,124 Other periodic pension cost 1,272 - - - 1,272 Interest expense 462 - 226 - 688 Income (loss) before taxes on income (loss) $ 17,300 $ 3,520 $ (922 ) $ - $ 19,898 Depreciation and amortization $ 4,023 $ 494 $ 418 $ - $ 4,935 Capital expenditures $ 3,383 $ 3,872 $ 130 $ - $ 7,385 Total assets $ 176,070 $ 19,752 $ 28,480 $ (27,454 ) $ 196,848 |
Note 18 - Acquisition of Busine
Note 18 - Acquisition of Businesses | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 18 es : CID Resources On May 2, 2018, The purchase price in the acquisition consisted of the following: (a) approximately $84.4 150,094 $39.5 Fair Value of Consideration Transferred A summary of the purchase price is as follows (in thousands): Cash consideration at closing $ 84,430 Superior common stock issued 3,763 Cash and working capital adjustment 2,521 Total Consideration $ 90,714 Assets Acquired and Liabilities Assumed The total purchase price was allocated to the tangible and intangible assets and liabilities of CID based on their estimated fair values as of May 2, 2018. The following table presents the allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and liabilities of CID based on their estimated fair values as of the effective date of the transaction. The assets and liabilities of CID shown below are based on our preliminary estimates of their acquisition date fair values. Our final fair value determination may The following is our preliminary assignment of the aggregate consideration (in thousands): Cash $ 1,360 Accounts receivable 9,657 Prepaid expenses and other current assets 1,248 Inventories 30,692 Property, plant and equipment 1,134 Contract assets 2,535 Identifiable intangible assets 41,020 Goodwill 17,968 Total assets $ 105,614 Accounts payable 4,472 Deferred tax liability 9,461 Other current liabilities 967 Total liabilities $ 14,900 The Company recorded $41.0 $26.0 $0.8 $14.2 Goodwill was calculated as the difference between the fair value of the consideration and the values assigned to the assets acquired and liabilities assumed. This goodwill will not The intangible assets associated with the customer relationships are being amortized for fifteen May 2, 2018 five not The Company recognized amortization expense on these acquired intangible assets of $1.3 December 31, 2018. For the year ended December 31, 2018, $2.1 On a pro forma basis as if the results of this acquisition had been included in our consolidated results for the entire year ended December 31, 2018 $22.3 $2.7 $0.17 On a pro forma basis as if the results of this acquisition had been included in our consolidated results for the years ended December 31, 2017 2016, $65.3 $61.2 $0.4 $0.02 2017 $0.3 $0.02 2016. BAMKO On March 8, 2016, March 1, 2016. $15.2 324,000 five $5.5 2021, Fair Value of Consideration Transferred A summary of the purchase price is as follows (in thousands): Cash consideration at closing, net of cash acquired $ 15,161 Restricted shares of Superior common stock issued 4,558 Contingent consideration 5,205 Total Consideration $ 24,924 Assets Acquired and Liabilities Assumed The total purchase price was allocated to the acquired tangible and intangible assets and assumed liabilities of BAMKO, Inc. based on their estimated fair values as of March 1, 2016. The following table presents the allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and assumed liabilities of BAMKO based on their fair values as of the effective date of the transaction. The following is our assignment of the aggregate consideration (in thousands): Accounts receivable $ 4,885 Prepaid expenses and other current assets 3,200 Inventories 236 Property, plant and equipment 199 Other assets 100 Identifiable intangible assets 11,360 Goodwill 6,994 Total assets $ 26,974 Accounts payables 1,314 Other current liabilities 736 Total liabilities $ 2,050 The Company recorded $11.4 $2.1 $0.4 $8.9 The estimated fair value for acquisition-related contingent consideration payable is $4.0 December 31, 2018. $0.9 second 2019. may may Goodwill was calculated as the difference between the fair value of the consideration and the values assigned to the assets acquired and liabilities assumed. The intangible assets associated with the customer relationships will be amortized for seven March 1, 2016 five ten not The Company recognized amortization expense on these acquired intangible assets of $0.4 $0.4 $0.3 December 31, 2018, 2017, 2016, For the year ended December 31, 2016, $1.1 On a pro forma basis as if the results of this acquisition had been included in our consolidated results for the years ended December 31, 2016 $6.6 $1.1 $0.08 December 31, 2016. Public Identity On August 21, 2017, The purchase price for the acquisition consisted of $0.8 54,000 $0.4 2020. three $2.3 $1.7 $0.6 Tangerine Promotions On November 30, 2017, December 1, 2017. one $7.2 83,000 four $5.5 2021, The foregoing description of the asset purchase agreement does not Fair Value of Consideration Transferred A summary of the purchase price is as follows (in thousands): Cash consideration at closing $ 7,222 Restricted shares of Superior common stock issued 1,657 Contingent consideration 3,209 Total Consideration $ 12,088 Assets Acquired and Liabilities Assumed The total purchase price was allocated to the acquired tangible and intangible assets and assumed liabilities of Tangerine based on their estimated fair values as of December 1, 2017. The following table presents the allocation of the total fair value of consideration transferred, as shown above, to the acquired tangible and intangible assets and assumed liabilities of Tangerine based on their estimated fair values as of the effective date of the transaction. The following is our assignment of the aggregate consideration (in thousands): Accounts receivable $ 5,051 Prepaid expenses and other current assets 969 Property, plant and equipment 131 Identifiable intangible assets 6,495 Goodwill 4,169 Total assets $ 16,815 Accounts payables 3,374 Other current liabilities 1,353 Total liabilities $ 4,727 The Company recorded $6.5 $3.1 $0.2 $3.2 The estimated fair value for acquisition-related contingent consideration payable is $2.4 December 31, 2018. not second 2019. may may Goodwill was calculated as the difference between the fair value of the consideration and the values assigned to the assets acquired and liabilities assumed. The intangible assets associated with the customer relationships will be amortized for seven December 1, 2017 seven not The Company recognized amortization expense on these acquired intangible assets of $0.6 $0.1 December 31, 2018 2017 For the year ended December 31, 2017, $0.2 On a pro forma basis as if the results of this acquisition had been included in our consolidated results for the entire year ended December 31, 2017 December 31, 2016, $35.1 $43.1 $0.1 $0.01 2017 $2.4 $0.17 2016. |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 19 On January 22, 2019, $85 $20 $65 January 22, 2026 0.85%. $65 2019 $8.5 2020 2025 $9.3 2026 $0.8 10.1 8 January 25, 2019. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | b) Basis of presentation The consolidated financial statements include the accounts of Superior Group of Companies, Inc. and its wholly-owned subsidiaries, The Office Gurus, LLC, SUG Holding, Fashion Seal Corporation, BAMKO, LLC and CID Resources, Inc.; 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; BAMKO Importação, Exportação e Comércio de Brindes Ltda., a subsidiary of BAMKO, LLC and SUG Holding; Guangzhou Ben Gao Trading Limited, Worldwide Sourcing Solutions Limited, and BAMKO UK, Limited, each a direct or indirect subsidiary of BAMKO, LLC, and BAMKO India Private Limited, a 99% May 3, 2108, |
Cash and Cash Equivalents, Policy [Policy Text Block] | c) Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three |
Revenue Recognition, Policy [Policy Text Block] | d) Revenue recognition and allowance for doubtful accounts The Company recognizes revenue in accordance with ASC 606 January 1, 2018. no may not may |
Accounts Receivable Other [Policy Text Block] | 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. |
Advertising Costs, Policy [Policy Text Block] | f) Advertising expenses The Company expenses advertising costs as incurred. Advertising costs for of the years ended December 31, 2018, 2017 2016, $0.7 $0.1 $0.1 |
Cost Of Goods Sold And Shipping And Handling Fees And Costs, Policy [Policy Text Block] | 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, receiving and inspection costs, for our Uniforms and Related Products segment and our Promotional 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 $14.0 $10.9 $10.6 December 31, 2018, 2017 2016, |
Inventory, Policy [Policy Text Block] | h) Inventories Inventories are stated at the lower of cost ( first first may |
Property, Plant and Equipment, Policy [Policy Text Block] | 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 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | 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 not may • 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 three $22.1 $11.9 An entity has the option to first not 50% not not December 31, 2018 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | k) Other intangible assets Other intangible assets consist of customer relationships, non-compete agreements and trade names acquired in previous business acquisitions. The cost, amortization and net value of customer relationships and non-compete agreement as of December 31, 2018 2017 Customer Weighted Average Life Non-Compete Agreement Weighted Average Life (years) Customer Backlog Weighted Average Life (years) December 31, 2018 Cost $ 41,530 10.8 $ 1,411 4.1 $ - - Accumulated amortization (7,762 ) (326 ) - Net $ 33,768 $ 1,085 $ - December 31, 2017 Cost $ 15,530 8.8 $ 5,551 5.1 $ 122 0.5 Accumulated amortization (4,782 ) (4,619 ) (10 ) Net $ 10,748 $ 932 $ 112 Amortization expense for other intangible assets was $3.8 $2.4 $2.3 December 31, 2018, 2017 2016, $3.8 December 31, 2019 2022; $3.0 2023; $2.2 2024; $1.7 2025 2034. As part of the acquisition of HPI in 2013, $4.7 not As part of the acquisition of BAMKO in 2016, $8.9 not As part of the acquisitions of Public Identity and Tangerine in 2017, $0.5 $3.2 not As part of the acquisition of CID Resources in 2018, $14.2 not |
Depreciation, Depletion, and Amortization [Policy Text Block] | l) Depreciation and amortization Plant and equipment are depreciated on the straight-line basis at 2.5% 5% 2.5% 20% 10% 33.33% 20% 33.33% |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | m) Employee benefits Pension plan costs are funded currently based on actuarial estimates, with prior service costs amortized over 20 |
Insurance [Policy Text Block] | 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 may |
Income Tax, Policy [Policy Text Block] | 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 not 7. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | 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 no December 31, 2018, 2017, 2016. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | q) Share-based compensation The Company awards share-based compensation as an incentive for employees to contribute to the Company’s long-term success. The company grants options, stock-settled stock appreciation rights, restricted stock, and performance shares. At December 31, 2018, 3,498,367 2013 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, risk free interest rate and dividend rate. 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] | 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, stock-settled stock appreciation rights, restricted stock, and performance shares. |
Comprehensive Income, Policy [Policy Text Block] | 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). |
Segment Reporting, Policy [Policy Text Block] | t) Operating segments The Financial Accounting Standards Board (“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 three |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | 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, 2018 2017, no 7.4% December 31, 2018 2017, five $12.8 $14.2 20.0% 28.0% December 31, 2018, 2017, 2016 $20.1 $20.6 $19.3 5.8%, 7.7% 7.6% five December 31, 2018, 2017 2016 $47.1 $50.7 $57.6 13.6%, 19.0% 22.8% Included in accounts receivable-other on the Company’s consolidated balance sheets at December 31, 2018 2017 $1.6 $1.5 In 2018, 2017 2016, 24%, 34% 31%, 2018, 2017 2016, 25%, 34% 32%, 2018, 2017 2016, 28%, 67% 59%, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | 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, 2018 2017, |
Use of Estimates, Policy [Policy Text Block] | 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | x In February 2016, 842, No. 2016 02, 842 No. 2018 01, 842; No. 2018 10, 842, No. 2018 11, 12 January 1, 2019. not not January 1, 2019. not not not not $2.0 $4.0 In August 2016, 2016 15, 230 December 15, 2017 2017 07 2018. In March 2017, 2017 07, one December 15, 2017 2017 07 first 2018. 2017 In May 2014, 2014 09, 606 606” five 606 January 1, 2018 not no no no not We recorded a net increase in opening retained earnings of $11.2 January 1, 2018 606. twelve December 31, 2018 $3.5 606. The opening retained earnings adjustment is as follows (in thousands): Net sales $ 42,880 Cost of goods sold 27,397 Selling and administrative expenses 706 Income before taxes on income 14,777 Income tax expense 3,532 Adjustment to opening retained earnings $ 11,245 Payment of the cumulative tax adjustment will be made over four The following table disaggregates our net sales by major source (in thousands): As Reported for Balances Twelve Months Without Ended Adoption of Effect of Change 12/31/2018 ASC 606 12/31/2018 Uniform and Related Products $ 238,166 $ 237,095 $ 1,071 Remote Staffing Solutions 27,272 27,272 - Promotional Products 80,912 78,514 2,398 $ 346,350 $ 342,881 $ 3,469 Revenue for our Uniforms and Related Products and Promotional Products segments is recognized when the obligations under the terms of a contract with a customer are satisfied. This generally occurs when the goods are transferred to the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for the goods. Sales taxes, sales discounts and customer rebates are also excluded from revenue. In accordance with ASC 606 no may 606 not may not not not 606 twelve December 31, 2018. The Company does not 606 December 31, 2018. The impact of adoption of ASC 606 December 31, 2018 Balances Without Effect of As Reported Adoption of Change 12/31/2018 ASC 606 12/31/2018 Balance Sheet: Assets: Contract assets $ 49,236 $ - $ 49,236 Inventory 67,301 95,984 (28,683 ) Liabilities: Accounts payable $ 24,685 $ 21,981 $ 2,704 Other current liabilities 14,767 12,798 1,969 Deferred taxes 8,475 5,589 2,886 In accordance with ASC 606, $49.2 December 31, 2018 not As Reported for Balances Twelve Months Without Effect of Ended Adoption of Change 12/31/2018 ASC 606 12/31/2018 Statement of comprehensive income: Net sales $ 346,350 $ 342,881 $ 3,469 Cost of goods sold 224,653 221,920 2,733 Selling and administrative expenses 96,710 96,758 (48 ) The cost of goods sold associated with our ASC 606 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Customer Weighted Average Life Non-Compete Agreement Weighted Average Life (years) Customer Backlog Weighted Average Life (years) December 31, 2018 Cost $ 41,530 10.8 $ 1,411 4.1 $ - - Accumulated amortization (7,762 ) (326 ) - Net $ 33,768 $ 1,085 $ - December 31, 2017 Cost $ 15,530 8.8 $ 5,551 5.1 $ 122 0.5 Accumulated amortization (4,782 ) (4,619 ) (10 ) Net $ 10,748 $ 932 $ 112 |
Schedule of Retained Earnings Adjustment [Table Text Block] | The opening retained earnings adjustment is as follows (in thousands): Net sales $ 42,880 Cost of goods sold 27,397 Selling and administrative expenses 706 Income before taxes on income 14,777 Income tax expense 3,532 Adjustment to opening retained earnings $ 11,245 |
Disaggregation of Revenue [Table Text Block] | As Reported for Balances Twelve Months Without Ended Adoption of Effect of Change 12/31/2018 ASC 606 12/31/2018 Uniform and Related Products $ 238,166 $ 237,095 $ 1,071 Remote Staffing Solutions 27,272 27,272 - Promotional Products 80,912 78,514 2,398 $ 346,350 $ 342,881 $ 3,469 |
Consolidated Balance Sheet, Impact of New Standard [Table Text Block] | Balances Without Effect of As Reported Adoption of Change 12/31/2018 ASC 606 12/31/2018 Balance Sheet: Assets: Contract assets $ 49,236 $ - $ 49,236 Inventory 67,301 95,984 (28,683 ) Liabilities: Accounts payable $ 24,685 $ 21,981 $ 2,704 Other current liabilities 14,767 12,798 1,969 Deferred taxes 8,475 5,589 2,886 |
Statement of Comprehensive Income, Impact of New Standard [Table Text Block] | As Reported for Balances Twelve Months Without Effect of Ended Adoption of Change 12/31/2018 ASC 606 12/31/2018 Statement of comprehensive income: Net sales $ 346,350 $ 342,881 $ 3,469 Cost of goods sold 224,653 221,920 2,733 Selling and administrative expenses 96,710 96,758 (48 ) |
Note 2 - Allowance for Doubtf_2
Note 2 - Allowance for Doubtful Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 2018 2017 2016 Balance at the beginning of year $ 1,382 $ 1,276 $ 848 Provision for bad debts 867 1,002 523 Charge-offs (210 ) (901 ) (96 ) Recoveries 3 5 1 Balance at the end of year $ 2,042 $ 1,382 $ 1,276 |
Note 3 - Reserve for Sales Re_2
Note 3 - Reserve for Sales Returns and Allowance (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Reserve for Sales Returns and Allowances [Table Text Block] | 2018 2017 2016 Balance at the beginning of year $ 1,125 $ 1,967 $ 1,384 Provision for returns and allowances 4,908 2,789 4,445 Actual returns and allowances paid to customers (4,140 ) (3,631 ) (3,862 ) Balance at the end of year $ 1,893 $ 1,125 $ 1,967 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2018 2017 Finished goods $ 58,196 $ 54,354 Work in process 650 604 Raw materials 8,455 10,021 $ 67,301 $ 64,979 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 2017 Land $ 3,635 $ 3,635 Buildings, improvements and leaseholds 18,519 18,192 Machinery, equipment and fixtures 58,111 52,594 80,265 74,421 Accumulated depreciation and amortization (51,496 ) (47,577 ) $ 28,769 $ 26,844 |
Note 6 - Long-term Debt (Tables
Note 6 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | (In thousands) December 31, December 31, 2018 2017 Note payable to BB&T, pursuant to revolving credit agreement, maturing May 2023 $ 1,193 $ 1,475 Term loan payable to BB&T maturing February 26, 2024 $ 31,500 $ 37,500 Term loan payable to BB&T maturing May 2020 $ 85,000 $ - $ 117,693 $ 38,975 Less: Payments due within one year included in current liabilities $ 6,000 $ 6,000 Debt issuance costs $ 171 $ 42 Long-term debt less current maturities $ 111,522 $ 32,933 |
Note 7 - Taxes on Income (Table
Note 7 - Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2018 2017 2016 Current: Federal $ 3,613 $ 2,846 $ 5,642 Tax Cut and Jobs Act - 265 - State and local 643 647 628 Foreign 789 338 - 5,045 4,096 6,270 Long Term: Tax Cut and Jobs Act - 1,336 - Deferred Taxes: Deferred tax (benefit) provision (625 ) 1,899 (1,010 ) Tax Cut and Jobs Act re-measurement - 2,429 - (625 ) 4,328 (1,010 ) $ 4,420 $ 9,760 $ 5,260 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2018 2017 Deferred income tax assets: Pension accruals $ 2,729 $ 2,606 Operating reserves and other accruals 1,984 2,174 Tax carrying value in excess of book basis of intangibles - 866 Tax credits 748 255 Valuation allowance on tax credits (748 ) (255 ) Deferred income tax liabilities: Book carrying value in excess of tax basis of property (1,495 ) (937 ) Book carrying value in excess of tax basis of intangibles (6,906 ) - Tax effect of revenue recognition standard ASC 606 (2,657 ) - Deferred expenses (2,130 ) (1,809 ) Net deferred income tax (liability) asset $ (8,475 ) $ 2,900 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 2016 Statutory Federal income tax rate 21.0 % 34.0 % 34.0 % State and local income taxes, net of Federal income tax benefit 2.0 1.5 1.9 Current year untaxed foreign income (8.3 ) (6.5 ) (5.1 ) Foreign Taxes 2.6 1.4 - GILTI Tax 2.7 - - Contingent liability adjustments (1.4 ) - - Non-deductible share-based employee compensation expense 0.6 1.1 1.2 Excess tax benefit from stock compensation (0.3 ) (7.2 ) (4.4 ) Excess executive compensation 0.9 - - Non-deductible acquisition expense 1.7 - - Federal tax credits (0.4 ) (0.5 ) (0.8 ) Tax Cut and Jobs Act deferred tax re-measurement - 6.9 - Tax on undistributed foreign earnings 1.1 2.9 - Transition tax (repatriation) (0.8 ) 5.9 - Other items (0.7 ) (0.1 ) (0.4 ) Effective income tax rate 20.7 % 39.4 % 26.4 % |
Summary of Income Tax Contingencies [Table Text Block] | (In thousands) 2018 2017 Balance at the beginning of year $ 400 $ 399 Additions based on tax positions related to the current year 56 59 Additions for tax positions of prior years 85 - Reductions due to lapse of statute of limitations (64 ) (58 ) Balance at the end of year $ 477 $ 400 |
Note 8 - Benefit Plans (Tables)
Note 8 - Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | (In thousands) December 31, 2018 2017 Changes in benefit obligation Benefit obligation at beginning of year $ 28,386 $ 25,258 Service cost 108 65 Interest cost 970 965 Actuarial (gain) loss (1,597 ) 3,755 Benefits paid (742 ) (1,657 ) Benefit obligation at end of year 27,125 28,386 Changes in plan assets Fair value of plan assets at beginning of year 22,145 15,791 Actual return on assets (1,526 ) 2,413 Employer contributions 103 5,598 Benefits paid (742 ) (1,657 ) Fair value of plan assets at end of year 19,980 22,145 Funded status at end of year $ (7,145 ) $ (6,241 ) Amounts recognized in consolidated balance sheet Other assets $ 1,663 $ 2,181 Other current liabilities (103 ) (103 ) Long-term pension liability (8,705 ) (8,319 ) (7,145 ) (6,241 ) Amounts recognized in accumulated other comprehensive income consist of: Net actuarial loss $ 11,417 $ 10,903 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | December 31, 2018 2017 Projected benefit obligation $ 27,125 $ 28,386 Fair value of plan assets (19,980 ) (22,145 ) $ 7,145 $ 6,241 |
Schedule of Net Benefit Costs [Table Text Block] | 2018 2017 2016 Service cost - benefits earned during the period $ 108 $ 65 $ 57 Interest cost on projected benefit obligation 970 965 988 Expected return on plan assets (1,717 ) (1,218 ) (1,188 ) Recognized actuarial loss 1,132 1,042 1,027 Settlement loss - 435 445 Net periodic pension cost after settlements $ 493 $ 1,289 $ 1,329 |
Schedule of Assumptions Used [Table Text Block] | Long Term Rate Discount Rate of Return Salary Scale Corp. Plants Corp. Plants Corp. Plants 2017 3.53 % 3.45 % 8.00 % 8.00 % N/A N/A 2018 4.14 % 4.06 % 8.00 % 8.00 % N/A N/A Long Term Rate Discount Rate of Return Salary Scale Corp. Plants Corp. Plants Corp. Plants 2016 4.19 % 4.09 % 8.00 % 8.00 % N/A N/A 2017 4.04 % 3.91 % 8.00 % 8.00 % N/A N/A 2018 3.53 % 3.45 % 8.00 % 8.00 % N/A N/A |
Schedule of Allocation of Plan Assets [Table Text Block] | Percentage of Plan Target Allocation Investment description 201 8 201 7 201 9 Equity securities 59 % 52 % 60 % Fixed income 40 % 29 % 40 % Other 1 % 19 % - % Total 100 % 100 % 100 % |
Schedule of Expected Benefit Payments [Table Text Block] | Year Projected Benefit Payments (in thousands) 2019 $ 1,612 2020 $ 2,108 2021 $ 2,000 2022 $ 2,009 2023 $ 1,471 2024-2028 $ 8,590 |
Note 9 - Quarterly Results fo_2
Note 9 - Quarterly Results for 2018, 2017, and 2016 (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Quarter Ended March 31, June 30, September 30, December 31, 2018 2018 2018 2018 Net sales $ 73,087 $ 82,392 $ 95,870 $ 95,001 Gross profit $ 24,875 $ 29,278 $ 33,800 $ 33,744 Income before taxes on income $ 3,320 $ 5,097 $ 7,282 $ 5,696 Net income $ 2,450 $ 3,817 $ 6,122 $ 4,586 Per Share Data: Basic Net earnings $ 0.17 $ 0.26 $ 0.41 $ 0.31 Diluted Net earnings $ 0.16 $ 0.25 $ 0.39 $ 0.30 Average Outstanding Shares (Basic) 14,821,659 14,956,221 15,010,660 14,962,603 Average Outstanding Shares (Diluted) 15,457,629 15,990,404 15,449,894 15,371,606 Quarter Ended March 31, June 30, September 30, December 31, 2017 2017 2017 2017 Net sales $ 60,987 $ 65,604 $ 67,773 $ 72,450 Gross profit $ 22,214 $ 23,374 $ 24,789 $ 25,975 Income before taxes on income $ 5,405 $ 5,701 $ 6,842 $ 6,834 Net income $ 3,835 $ 4,341 $ 4,962 $ 1,884 Per Share Data: Basic Net earnings $ 0.27 $ 0.30 $ 0.34 $ 0.13 Diluted Net earnings $ 0.26 $ 0.29 $ 0.33 $ 0.12 Average Outstanding Shares (Basic) 14,350,721 14,501,399 14,573,813 14,614,691 Average Outstanding Shares (Diluted) 14,929,695 15,040,431 15,229,722 15,275,222 Quarter Ended March 31, June 30, September 30, December 31, 2016 2016 2016 2016 (restated) (restated) (restated) Net sales $ 57,968 $ 64,660 $ 65,282 $ 64,686 Gross profit $ 20,021 $ 21,763 $ 23,140 $ 22,058 Income before taxes on income $ 3,410 $ 4,615 $ 6,006 $ 5,867 Net income $ 2,442 $ 3,308 $ 4,447 $ 4,441 Per Share Data: Basic Net earnings $ 0.18 $ 0.23 $ 0.31 $ 0.31 Diluted Net earnings $ 0.17 $ 0.22 $ 0.30 $ 0.30 Average Outstanding Shares (Basic) 13,927,063 14,120,617 14,118,354 14,162,939 Average Outstanding Shares (Diluted) 14,668,658 14,957,469 14,984,084 14,979,746 |
Note 12 - Share-based Compens_2
Note 12 - Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Year Ended December 31, (In thousands) 2018 2017 2016 Stock options and SARS $ 984 $ 1,093 $ 1,071 Restricted stock 551 331 317 Performance shares 729 240 250 Total share-based compensation expense $ 2,264 $ 1,664 $ 1,638 Related income tax benefit $ 282 $ 229 $ 325 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | No. of Weighted Average Shares Exercise Price Outstanding December 31, 2016 825,251 $ 10.46 Granted 155,142 18.67 Exercised (336,726 ) 8.71 Lapsed (1,100 ) 5.86 Cancelled (8,690 ) 15.82 Outstanding December 31, 2017 633,877 $ 13.33 Granted 141,630 22.20 Exercised (94,241 ) 9.56 Lapsed (1,800 ) 5.88 Cancelled (2,620 ) 20.05 Outstanding December 31, 2018 676,846 $ 15.70 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Range of Weighted Average Remaining Weighted Average Exercise Price Shares Contractual Life (Years) Exercise Price $ 3.82 - $ 5.88 89,000 2.61 $5.33 $ 7.36 - $10.38 97,344 1.67 $8.00 $16.35 - $18.86 347,472 2.91 $17.50 $21.63 - $24.28 143,030 4.33 $23.03 $ 3.82 - $24.28 676,846 3.12 $15.70 |
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity [Table Text Block] | No. of Weighted Average Shares Exercise Price Outstanding December 31, 2016 325,506 $ 10.26 Granted 43,988 16.97 Exercised (222,990 ) 6.90 Lapsed - - Cancelled - - Outstanding December 31, 2017 146,504 $ 17.38 Granted 48,515 23.59 Exercised (12,125 ) 17.92 Lapsed - - Cancelled - - Outstanding December 31, 2018 182,894 $ 18.99 |
Share-based Compensation, Activity [Table Text Block] | Range of Weighted Average Remaining Weighted Average Exercise Price SARS Contractual Life (Years) Exercise Price $16.35 - $18.66 134,379 2.08 $17.33 $23.59 - $23.59 48,515 4.08 $23.59 $16.35 - $23.59 182,894 2.61 $18.99 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years ended December 31, SARS Options Exercise price 2018 $23.59 $18.86 - $24.28 2017 $16.97 $16.97 - $21.63 2016 $16.35 $16.35 - $18.55 Market price 2018 $23.59 $18.86 - $24.28 2017 $16.97 $16.97 - $21.63 2016 $16.35 $16.35 - $18.55 Risk free interest rate 1 2018 2.6% 2.6% - 2.9% 2017 1.9% 1.8% - 2.4% 2016 1.3% 1.1% - 1.8% Expected award life (years) 2 2018 3 3 - 10 2017 5 5 - 10 2016 5 5 - 10 Expected volatility 3 2018 38.1% 35.4% - 42.1% 2017 36.6% 36.6% - 41.4% 2016 36.5% 36.5% - 40.3% Expected dividend yield 4 2018 1.6% 1.6% - 2.1% 2017 2.1% 1.8% - 2.1% 2016 2.0% 1.8% - 2.1% |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | No. of Weighted Average Shares Grant Date Fair Value Outstanding December 31, 2016 123,688 $ 8.94 Granted 43,706 18.30 Vested (106,016 ) 7.62 Forfeited - - Outstanding December 31, 2017 61,378 $ 17.89 Granted 37,930 21.63 Vested (7,276 ) 17.59 Forfeited - - Outstanding December 31, 2018 92,032 $ 19.46 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | No. of Weighted Average Shares Grant Date Fair Value Outstanding December 31, 2017 118,492 $ 17.24 Granted 84,838 24.56 Vested - - Forfeited (8,952 ) 24.98 Outstanding December 31, 2018 194,378 $ 20.08 |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2018 2017 2016 Net earnings used in the computation of basic and diluted earnings per share (in thousands) $ 16,975 $ 15,022 $ 14,638 Weighted average shares outstanding - basic 14,937,786 14,510,156 14,082,243 Common stock equivalents 534,347 608,612 815,246 Total weighted average shares outstanding - diluted 15,472,133 15,118,768 14,897,489 Per Share Data: Basic Net earnings $ 1.14 $ 1.04 $ 1.04 Diluted Net earnings $ 1.10 $ 0.99 $ 0.98 |
Note 14 - Other Current Liabi_2
Note 14 - Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Year Ended December 31, 2018 2017 Salaries, wages, commissions and vacation pay $ 6,483 $ 7,851 Accrued rebates 1,857 1,089 Income taxes payable 1,586 211 401K profit sharing accrual 961 912 Defined contribution plan accrual 103 104 Customer deposits 437 473 Other accrued expenses 3,340 1,769 $ 14,767 $ 12,409 |
Note 15 - Supplemental Cash F_2
Note 15 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Year Ended December 31, 2018 2017 2016 Income taxes paid $ 1,088 $ 7,173 $ 5,076 Interest paid $ 2,724 $ 727 $ 694 |
Note 17 - Operating Segment I_2
Note 17 - Operating Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (In thousands) Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2018 Net sales $ 238,165 31,311 80,913 (4,039 ) $ 346,350 Gross margin $ 83,728 17,907 22,671 (2,609 ) $ 121,697 Selling and administrative expenses 68,848 11,160 19,311 (2,609 ) 96,710 Other periodic pension cost 385 - - - 385 Interest expense 2,019 - 1,188 - 3,207 Income before taxes on income $ 12,476 $ 6,747 $ 2,172 $ - $ 21,395 Depreciation and amortization $ 5,611 990 1,299 - $ 7,900 Capital expenditures $ 2,794 1,581 494 - $ 4,869 Total assets $ 331,113 29,590 61,993 (87,610 ) $ 335,086 Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2017 Net sales $ 204,644 $ 23,021 $ 42,904 $ (3,755 ) $ 266,814 Gross margin $ 72,463 $ 12,460 $ 13,860 $ (2,431 ) $ 96,352 Selling and administrative expenses 52,967 7,877 12,179 (2,431 ) 70,592 Other periodic pension cost 1,224 - - - 1,224 Gain (loss) on sale of property, plant and equipment (2 ) 1,050 - - 1,048 Interest expense 387 - 415 - 802 Income before taxes on income $ 17,883 $ 5,633 $ 1,266 $ - $ 24,782 Depreciation and amortization $ 4,223 $ 846 $ 584 $ - $ 5,653 Capital expenditures $ 2,870 $ 1,156 $ 219 $ - $ 4,245 Total assets $ 182,623 $ 21,846 $ 54,997 $ (40,528 ) $ 218,938 Uniforms and Related Products Remote Staffing Solutions Promotional Products Intersegment Eliminations Total Twelve Months Ended December 31, 2016 Net sales $ 210,373 $ 17,953 $ 27,816 $ (3,546 ) $ 252,596 Gross margin $ 69,987 $ 9,616 $ 9,690 $ (2,311 ) $ 86,982 Selling and administrative expenses 50,953 6,096 10,386 (2,311 ) 65,124 Other periodic pension cost 1,272 - - - 1,272 Interest expense 462 - 226 - 688 Income (loss) before taxes on income (loss) $ 17,300 $ 3,520 $ (922 ) $ - $ 19,898 Depreciation and amortization $ 4,023 $ 494 $ 418 $ - $ 4,935 Capital expenditures $ 3,383 $ 3,872 $ 130 $ - $ 7,385 Total assets $ 176,070 $ 19,752 $ 28,480 $ (27,454 ) $ 196,848 |
Note 18 - Acquisition of Busi_2
Note 18 - Acquisition of Businesses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash consideration at closing $ 84,430 Superior common stock issued 3,763 Cash and working capital adjustment 2,521 Total Consideration $ 90,714 A summary of the purchase price is as follows (in thousands): Cash consideration at closing, net of cash acquired $ 15,161 Restricted shares of Superior common stock issued 4,558 Contingent consideration 5,205 Total Consideration $ 24,924 A summary of the purchase price is as follows (in thousands): Cash consideration at closing $ 7,222 Restricted shares of Superior common stock issued 1,657 Contingent consideration 3,209 Total Consideration $ 12,088 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cash $ 1,360 Accounts receivable 9,657 Prepaid expenses and other current assets 1,248 Inventories 30,692 Property, plant and equipment 1,134 Contract assets 2,535 Identifiable intangible assets 41,020 Goodwill 17,968 Total assets $ 105,614 Accounts payable 4,472 Deferred tax liability 9,461 Other current liabilities 967 Total liabilities $ 14,900 Accounts receivable $ 4,885 Prepaid expenses and other current assets 3,200 Inventories 236 Property, plant and equipment 199 Other assets 100 Identifiable intangible assets 11,360 Goodwill 6,994 Total assets $ 26,974 Accounts payables 1,314 Other current liabilities 736 Total liabilities $ 2,050 Accounts receivable $ 5,051 Prepaid expenses and other current assets 969 Property, plant and equipment 131 Identifiable intangible assets 6,495 Goodwill 4,169 Total assets $ 16,815 Accounts payables 3,374 Other current liabilities 1,353 Total liabilities $ 4,727 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 02, 2018 | Jan. 01, 2018 | Dec. 01, 2017 | Aug. 21, 2017 | Mar. 01, 2016 | Dec. 31, 2013 | |
Advertising Expense | $ 700,000 | $ 100,000 | $ 100,000 | |||||||||||||||||||
Selling, General and Administrative Expense, Total | $ 96,710,000 | 70,592,000 | 65,124,000 | |||||||||||||||||||
Number of Reportable Segments | 3 | |||||||||||||||||||||
Goodwill, Ending Balance | $ 33,961,000 | $ 16,032,000 | $ 33,961,000 | 16,032,000 | ||||||||||||||||||
Amortization of Intangible Assets, Total | 3,800,000 | 2,400,000 | 2,300,000 | |||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 3,800,000 | 3,800,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 3,000,000 | 3,000,000 | ||||||||||||||||||||
Finite-lived Intangible Assets Amortization Expense Year Six | 2,200,000 | 2,200,000 | ||||||||||||||||||||
Finite Lived Intangible Assets Amortization Expense Year Seven | $ 1,700,000 | $ 1,700,000 | ||||||||||||||||||||
Pension Plan Prior Service Costs Amortization Term | 20 years | |||||||||||||||||||||
Impairment of Long-Lived Assets Held-for-use | $ 0 | 0 | 0 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,498,367 | 3,498,367 | ||||||||||||||||||||
Other Receivables | $ 1,744,000 | 1,848,000 | $ 1,744,000 | 1,848,000 | ||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 95,001,000 | $ 95,870,000 | $ 82,392,000 | $ 73,087,000 | 72,450,000 | $ 67,773,000 | $ 65,604,000 | $ 60,987,000 | $ 64,686,000 | $ 65,282,000 | $ 64,660,000 | $ 57,968,000 | 346,350,000 | 266,814,000 | $ 252,596,000 | |||||||
Revenue, Remaining Performance Obligation, Amount | 0 | 0 | ||||||||||||||||||||
Contract with Customer, Asset, Net, Current, Total | 49,236,000 | 49,236,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 3,800,000 | 3,800,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 3,800,000 | 3,800,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 3,800,000 | 3,800,000 | ||||||||||||||||||||
Finite Lived Intangible Assets Amortization Expense Year Eight | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite Lived Intangible Assets Amortization Expense Year Nine | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-lived Intangible Assets Amortization Expense Year Ten | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Eleven | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Twelve | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Thirteen | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Fourteen | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Fifteen | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Sixteen | 1,700,000 | 1,700,000 | ||||||||||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 3,469,000 | |||||||||||||||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||||||||||||||
Selling, General and Administrative Expense, Total | 706,000 | |||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 42,880,000 | |||||||||||||||||||||
Cumulative Tax Adjustments Payment, Period | 4 years | |||||||||||||||||||||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||||||||
Selling, General and Administrative Expense, Total | $ (48,000) | |||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 3,469,000 | |||||||||||||||||||||
Contract with Customer, Asset, Net, Current, Total | 49,236,000 | 49,236,000 | ||||||||||||||||||||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||||||||||||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 11,200,000 | |||||||||||||||||||||
Customer Concentration Risk [Member] | Largest [Member] | ||||||||||||||||||||||
Other Receivables | 1,600,000 | 1,500,000 | $ 1,600,000 | $ 1,500,000 | ||||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||||||||||||||||||
Concentration Risk, Percentage | 7.40% | 7.40% | ||||||||||||||||||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Five Largest [Member] | ||||||||||||||||||||||
Concentration Risk, Percentage | 20.00% | 28.00% | ||||||||||||||||||||
Accounts Receivable, Net, Total | $ 12,800,000 | 14,200,000 | $ 12,800,000 | $ 14,200,000 | ||||||||||||||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Five Largest [Member] | ||||||||||||||||||||||
Concentration Risk, Percentage | 13.60% | 19.00% | 22.80% | |||||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 47,100,000 | $ 50,700,000 | $ 57,600,000 | |||||||||||||||||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Largest [Member] | ||||||||||||||||||||||
Concentration Risk, Percentage | 5.80% | 7.70% | 7.60% | |||||||||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 20,100,000 | $ 20,600,000 | $ 19,300,000 | |||||||||||||||||||
Minimum [Member] | Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | ||||||||||||||||||||||
Increase in Operating Liabilities | $ 2,000,000 | |||||||||||||||||||||
Minimum [Member] | Building [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 2.50% | 2.50% | ||||||||||||||||||||
Minimum [Member] | Building Improvements [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 2.50% | 2.50% | ||||||||||||||||||||
Minimum [Member] | Machinery, Equipment and Fixtures [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 10.00% | 10.00% | ||||||||||||||||||||
Minimum [Member] | Transportation Equipment [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 20.00% | 20.00% | ||||||||||||||||||||
Maximum [Member] | Scenario, Forecast [Member] | Accounting Standards Update 2016-02 [Member] | ||||||||||||||||||||||
Increase in Operating Liabilities | $ 4,000,000 | |||||||||||||||||||||
Maximum [Member] | Building [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 5.00% | 5.00% | ||||||||||||||||||||
Maximum [Member] | Building Improvements [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 20.00% | 20.00% | ||||||||||||||||||||
Maximum [Member] | Machinery, Equipment and Fixtures [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 33.33% | 33.33% | ||||||||||||||||||||
Maximum [Member] | Transportation Equipment [Member] | ||||||||||||||||||||||
Property Plant and Equipment Depreciation Straight Line Percentage | 33.33% | 33.33% | ||||||||||||||||||||
HPI [Member] | Trade Names [Member] | ||||||||||||||||||||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 4,700,000 | |||||||||||||||||||||
BAMKO [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | $ 6,994,000 | |||||||||||||||||||||
Amortization of Intangible Assets, Total | $ 400,000 | 400,000 | 300,000 | |||||||||||||||||||
BAMKO [Member] | Trade Names [Member] | ||||||||||||||||||||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 8,900,000 | $ 8,900,000 | ||||||||||||||||||||
Public Identity [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | $ 600,000 | |||||||||||||||||||||
Public Identity [Member] | Trade Names [Member] | ||||||||||||||||||||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 500,000 | 500,000 | ||||||||||||||||||||
Tangerine [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | $ 4,169,000 | |||||||||||||||||||||
Amortization of Intangible Assets, Total | 600,000 | 100,000 | ||||||||||||||||||||
Tangerine [Member] | Trade Names [Member] | ||||||||||||||||||||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 3,200,000 | $ 3,200,000 | ||||||||||||||||||||
CID Resources [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | $ 17,968,000 | |||||||||||||||||||||
Amortization of Intangible Assets, Total | 1,300,000 | |||||||||||||||||||||
CID Resources [Member] | Trade Names [Member] | ||||||||||||||||||||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 14,200,000 | 14,200,000 | ||||||||||||||||||||
Uniforms and Related Products [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | 22,100,000 | 22,100,000 | ||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 238,166,000 | |||||||||||||||||||||
Uniforms and Related Products [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 1,071,000 | |||||||||||||||||||||
Uniforms and Related Products [Member] | Supplier Concentration Risk [Member] | Raw Materials [Member] | CHINA | ||||||||||||||||||||||
Concentration Risk, Percentage | 24.00% | 34.00% | 31.00% | |||||||||||||||||||
Uniforms and Related Products [Member] | Supplier Concentration Risk [Member] | Raw Materials [Member] | Central America [Member] | ||||||||||||||||||||||
Concentration Risk, Percentage | 25.00% | 34.00% | 32.00% | |||||||||||||||||||
Promotional Products [Member] | ||||||||||||||||||||||
Goodwill, Ending Balance | $ 11,900,000 | $ 11,900,000 | ||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 80,912,000 | |||||||||||||||||||||
Promotional Products [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 2,398,000 | |||||||||||||||||||||
Promotional Products [Member] | Supplier Concentration Risk [Member] | Raw Materials [Member] | CHINA | ||||||||||||||||||||||
Concentration Risk, Percentage | 28.00% | 67.00% | 59.00% | |||||||||||||||||||
Shipping and Handling [Member] | ||||||||||||||||||||||
Selling, General and Administrative Expense, Total | $ 14,000,000 | $ 10,900,000 | $ 10,600,000 | |||||||||||||||||||
BAMKO [Member] | ||||||||||||||||||||||
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest | 99.00% |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Customer Relationships [Member] | ||
Cost | $ 41,530 | $ 15,530 |
Weighted average life (Year) | 10 years 292 days | 8 years 292 days |
Accumulated amortization | $ (7,762) | $ (4,782) |
Net | 33,768 | 10,748 |
Noncompete Agreements [Member] | ||
Cost | $ 1,411 | $ 5,551 |
Weighted average life (Year) | 4 years 36 days | 5 years 36 days |
Accumulated amortization | $ (326) | $ (4,619) |
Net | 1,085 | 932 |
Customer Backlog [Member] | ||
Cost | $ 122 | |
Weighted average life (Year) | 182 days | |
Accumulated amortization | $ (10) | |
Net | $ 112 |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Adjustments to Retained Earnings (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Cost of goods sold | 224,653 | 170,462 | 165,614 | ||||||||||||
Selling and administrative expenses | 96,710 | 70,592 | 65,124 | ||||||||||||
Income before taxes on income | 21,395 | 24,782 | 19,898 | ||||||||||||
Income tax expense | 5,000 | 4,420 | 9,760 | $ 5,260 | |||||||||||
Adjustment to opening retained earnings | 103,032 | $ 83,129 | 103,032 | $ 83,129 | |||||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||||||||
Net sales | 42,880 | ||||||||||||||
Cost of goods sold | 27,397 | ||||||||||||||
Selling and administrative expenses | 706 | ||||||||||||||
Income before taxes on income | 14,777 | ||||||||||||||
Income tax expense | 3,532 | ||||||||||||||
Adjustment to opening retained earnings | $ 11,245 | $ 11,245 |
Note 1 - Summary of Significa_6
Note 1 - Summary of Significant Accounting Policies - Disaggregation of Net Sales by Major Source (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||
Net sales | 342,881 | ||||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||
Net sales | 3,469 | ||||||||||||||
Uniforms and Related Products [Member] | |||||||||||||||
Net sales | 238,166 | ||||||||||||||
Uniforms and Related Products [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||
Net sales | 237,095 | ||||||||||||||
Uniforms and Related Products [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||
Net sales | 1,071 | ||||||||||||||
Remote Staffing Solutions [Member] | |||||||||||||||
Net sales | 27,272 | ||||||||||||||
Remote Staffing Solutions [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||
Net sales | 27,272 | ||||||||||||||
Remote Staffing Solutions [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||
Net sales | |||||||||||||||
Promotional Products [Member] | |||||||||||||||
Net sales | 80,912 | ||||||||||||||
Promotional Products [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||
Net sales | 78,514 | ||||||||||||||
Promotional Products [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||
Net sales | $ 2,398 |
Note 1 - Summary of Significa_7
Note 1 - Summary of Significant Accounting Policies - Impact of New Standard on Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Assets: | |||
Contract asset | $ 49,236 | ||
Inventory | 67,301 | 64,979 | |
Liabilities: | |||
Accounts payable | 24,685 | 19,752 | |
Other current liabilities | 14,767 | 12,409 | |
Deferred taxes | 8,475 | ||
Accounting Standards Update 2014-09 [Member] | |||
Assets: | |||
Inventory | $ (24,900) | ||
Liabilities: | |||
Other current liabilities | $ 1,100 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Assets: | |||
Contract asset | |||
Inventory | 95,984 | ||
Liabilities: | |||
Accounts payable | 21,981 | ||
Other current liabilities | 12,798 | ||
Deferred taxes | 5,589 | ||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||
Assets: | |||
Contract asset | 49,236 | ||
Inventory | (28,683) | ||
Liabilities: | |||
Accounts payable | 2,704 | ||
Other current liabilities | 1,969 | ||
Deferred taxes | $ 2,886 |
Note 1 - Summary of Significa_8
Note 1 - Summary of Significant Accounting Policies - Impact of New Standard on Statement of Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Cost of goods sold | 224,653 | 170,462 | 165,614 | ||||||||||||
Selling and administrative expenses | 96,710 | $ 70,592 | $ 65,124 | ||||||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||||||||
Net sales | 42,880 | ||||||||||||||
Cost of goods sold | 27,397 | ||||||||||||||
Selling and administrative expenses | 706 | ||||||||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||||||||
Net sales | 342,881 | ||||||||||||||
Cost of goods sold | 221,920 | ||||||||||||||
Selling and administrative expenses | 96,758 | ||||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||||||||
Net sales | 3,469 | ||||||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||||||||||||||
Net sales | 3,469 | ||||||||||||||
Cost of goods sold | 2,733 | ||||||||||||||
Selling and administrative expenses | $ (48) |
Note 2 - Allowance for Doubtf_3
Note 2 - Allowance for Doubtful Accounts Receivable - Allowance for Doubtful Accounts Receivable (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at the beginning of year | $ 1,382 | $ 1,276 | $ 848 |
Provision for bad debts - accounts receivable | 867 | 1,002 | 512 |
Charge-offs | (210) | (901) | (96) |
Recoveries | 3 | 5 | 1 |
Balance at the end of year | $ 2,042 | $ 1,382 | $ 1,276 |
Note 3 - Reserve for Sales Re_3
Note 3 - Reserve for Sales Returns and Allowance - Reserve for Sales Returns and Allowances (Details) - Allowance For Sales Returns 1 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at the beginning of year | $ 1,125 | $ 1,967 | $ 1,384 |
Provision for returns and allowances | 4,908 | 2,789 | 4,445 |
Actual returns and allowances paid to customers | (4,140) | (3,631) | (3,862) |
Balance at the end of year | $ 1,893 | $ 1,125 | $ 1,967 |
Note 4 - Inventories - Inventor
Note 4 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Finished goods | $ 58,196 | $ 54,354 |
Work in process | 650 | 604 |
Raw materials | 8,455 | 10,021 |
$ 67,301 | $ 64,979 |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 7,906 | $ 5,653 | $ 4,935 |
Property, Plant and Equipment [Member] | |||
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 4,100 | $ 3,300 | $ 2,600 |
Note 5 - Property, Plant and _4
Note 5 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, plant and equipment, gross | $ 80,265 | $ 74,421 |
Accumulated depreciation and amortization | (51,496) | (47,577) |
28,769 | 26,844 | |
Land [Member] | ||
Property, plant and equipment, gross | 3,635 | 3,635 |
Buildings Improvements and Leaseholds [Member] | ||
Property, plant and equipment, gross | 18,519 | 18,192 |
Machinery, Equipment and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 58,111 | $ 52,594 |
Note 6 - Long-term Debt (Detail
Note 6 - Long-term Debt (Details Textual) $ in Thousands | Nov. 01, 2019 | Jan. 22, 2019USD ($) | Jul. 01, 2018USD ($) | May 02, 2018USD ($) | Feb. 28, 2017USD ($) | Feb. 24, 2017USD ($) | Mar. 08, 2016USD ($) | Jul. 01, 2014USD ($) | Oct. 31, 2019 | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | May 01, 2018USD ($) | Mar. 01, 2018USD ($) | Mar. 07, 2016USD ($) | Dec. 31, 2015USD ($) |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 6,000 | |||||||||||||||
Long Term Debt Maturities Repayments of Principal in Year Six | 1,500 | |||||||||||||||
Repayments of Long-term Debt, Total | 127,439 | $ 77,573 | $ 106,827 | |||||||||||||
Long-term Debt, Gross | 117,693 | 38,975 | ||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 6,000 | |||||||||||||||
Derivative, Fixed Interest Rate | 2.43% | 2.53% | 3.12% | |||||||||||||
Derivative, Notional Amount | $ 14,300 | |||||||||||||||
Long Term Debt Maturities Repayments of Principal in Year Seven | $ 3,050 | |||||||||||||||
Stockholders' Equity Attributable to Parent, Ending Balance | 150,921 | $ 124,968 | $ 110,550 | $ 92,690 | ||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 6,000 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 6,000 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 6,000 | |||||||||||||||
Per Month through July 1, 2015 [Member] | ||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 200 | |||||||||||||||
Per Month through June 1, 2018 [Member] | ||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 300 | |||||||||||||||
Interest Rate Swap [Member] | ||||||||||||||||
Derivative, Notional Amount | $ 18,000 | |||||||||||||||
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion | $ 100 | |||||||||||||||
Derivative, Notional Amount, Monthly Reduction Amount | $ 300 | |||||||||||||||
Interest Rate Swap [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||||||||||||||
Stockholders' Equity Attributable to Parent, Ending Balance | 100 | |||||||||||||||
Interest Rate Swap [Member] | Other Current Liabilities [Member] | ||||||||||||||||
Derivative, Notional Amount | $ 17,500 | |||||||||||||||
Derivative Liability, Total | 100 | |||||||||||||||
Interest Rate Swap [Member] | Prepaid Expenses and Other Current Assets [Member] | ||||||||||||||||
Derivative Asset, Total | 100 | |||||||||||||||
Credit Agreement [Member] | ||||||||||||||||
Debt Issuance Costs, Gross | $ 100 | |||||||||||||||
Credit Agreement [Member] | Term Loan 2 [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 85,000 | |||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.39% | |||||||||||||||
Debt Instrument, Commitment Fee | 0.25% | |||||||||||||||
Credit Agreement [Member] | Term Loan 2 [Member] | Subsequent Event [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 85,000 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 8,500 | |||||||||||||||
Long Term Debt Maturities Repayments of Principal in Year Six | 9,300 | |||||||||||||||
Repayments of Long-term Debt, Total | 20,000 | |||||||||||||||
Long-term Debt, Gross | 65,000 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 9,300 | |||||||||||||||
Long Term Debt Maturities Repayments of Principal in Year Eight | 800 | |||||||||||||||
Long Term Debt Maturities Repayments of Principal in Year Seven | 9,300 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 9,300 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 9,300 | |||||||||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | $ 9,300 | |||||||||||||||
Credit Agreement [Member] | Term Loan [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 42,000 | |||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.14% | |||||||||||||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan 2 [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.93% | |||||||||||||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan 2 [Member] | Subsequent Event [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | |||||||||||||||
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.68% | |||||||||||||||
Amended and Restated Credit Agreement [Member] | ||||||||||||||||
Debt Issuance Costs, Gross | $ 200 | |||||||||||||||
Fifth Third Bank [Member] | Interest Rate Swap [Member] | ||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 3,300 | |||||||||||||||
Amended Credit Agreement [Member] | ||||||||||||||||
Fixed Charge Coverage Ratio | 1.25 | |||||||||||||||
EBITA Ratio | 4 | |||||||||||||||
Amended Credit Agreement [Member] | Term Loan [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 42,000 | $ 45,000 | ||||||||||||||
Amended Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% | |||||||||||||||
Scenario, Forecast [Member] | Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||||||||||||
Scenario, Forecast [Member] | Amended and Restated Credit Agreement After 18 Months [Member] | London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||||||||||||
Revolving Credit Facility [Member] | Credit Agreement [Member] | Fifth Third Bank [Member] | ||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000 | |||||||||||||||
Revolving Credit Facility [Member] | Credit Agreement [Member] | BB&T [Member] | ||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 75,000 | |||||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.10% | |||||||||||||||
Revolving Credit Facility [Member] | Amended Credit Agreement [Member] | ||||||||||||||||
Line of Credit Facility, Expiration Period | 7 years | 5 years | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000 | $ 20,000 | $ 15,000 | |||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.10% | 0.10% | ||||||||||||||
Letters of Credit Outstanding, Amount | $ 0 | |||||||||||||||
Add on Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | 0.85% |
Note 6 - Long-term Debt - Long-
Note 6 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term Debt, Gross | $ 117,693 | $ 38,975 |
Payments due within one year included in current liabilities | 6,000 | 6,000 |
Debt issuance costs | 171 | 42 |
Long-term debt less current maturities | 111,522 | 32,933 |
Note Payable Maturing May 2023 [Member] | BB&T [Member] | ||
Long-term Debt, Gross | 1,193 | 1,475 |
Term Loan Maturing February 26, 2024 [Member] | BB&T [Member] | ||
Long-term Debt, Gross | 31,500 | 37,500 |
Term Loan Maturing May 2020 [Member] | BB&T [Member] | ||
Long-term Debt, Gross | $ 85,000 |
Note 7 - Taxes on Income (Detai
Note 7 - Taxes on Income (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% | 34.00% | |
Income Tax Expense (Benefit), Total | $ 5,000 | $ 4,420 | $ 9,760 | $ 5,260 |
Tax Adjustments, Settlements, and Unusual Provisions | 4,000 | 4,000 | ||
Net Discrete Tax Adjustment, Tax Act | 3,300 | |||
Net Discrete Tax Adjustment, Other Miscellaneous Discrete Items | 700 | |||
Accumulated Foreign Earnings and Profits Tax Rate, Liquid Assets | 15.50% | |||
Accumulated Foreign Earnings and Profits Tax Rate, Unremitted Foreign E&P | 8.00% | |||
Additional Deferred Tax Expense | $ 900 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | 100 | 100 | 100 | |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | 100 | 100 | $ 100 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 100 | 100 | 100 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $ 100 | |||
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | ||||
Open Tax Year | 2,015 | |||
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | ||||
Open Tax Year | 2,011 | |||
Other Noncurrent Liabilities [Member] | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 500 | $ 600 | $ 500 |
Note 7 - Taxes on Income - Inco
Note 7 - Taxes on Income - Income Tax Provisions (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current: | ||||
Federal | $ 3,613 | $ 2,846 | $ 5,642 | |
Tax Cut and Jobs Act | 265 | |||
State and local | 643 | 647 | 628 | |
Foreign | 789 | 338 | ||
5,045 | 4,096 | 6,270 | ||
Tax Cut and Jobs Act | 1,336 | |||
Deferred Taxes: | ||||
Deferred tax (benefit) provision | (625) | 1,899 | (1,010) | |
Tax Cut and Jobs Act re-measurement | 2,429 | |||
(625) | 4,328 | (1,010) | ||
$ 5,000 | $ 4,420 | $ 9,760 | $ 5,260 |
Note 7 - Taxes on Income - Defe
Note 7 - Taxes on Income - Deferred Income Tax Asset (Liability) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred income tax assets: | ||
Pension accruals | $ 2,729 | $ 2,606 |
Operating reserves and other accruals | 1,984 | 2,174 |
Tax carrying value in excess of book basis of intangibles | 866 | |
Tax credits | 748 | 255 |
Valuation allowance on tax credits | (748) | (255) |
Deferred income tax liabilities: | ||
Book carrying value in excess of tax basis of property | (1,495) | (937) |
Book carrying value in excess of tax basis of intangibles | (6,906) | |
Tax effect of revenue recognition standard ASC 606 | (2,657) | |
Deferred expenses | (2,130) | (1,809) |
Net deferred income tax liability | $ (8,475) | |
Net deferred income tax asset | $ 2,900 |
Note 7 - Taxes on Income - In_2
Note 7 - Taxes on Income - Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statutory Federal income tax rate | 21.00% | 34.00% | 34.00% |
State and local income taxes, net of Federal income tax benefit | 2.00% | 1.50% | 1.90% |
Current year untaxed foreign income | (8.30%) | (6.50%) | (5.10%) |
Foreign Taxes | 2.60% | 1.40% | |
GILTI Tax | 2.70% | ||
Contingent liability adjustments | (1.40%) | ||
Non-deductible share-based employee compensation expense | 0.60% | 1.10% | 1.20% |
Excess tax benefit from stock compensation | (0.30%) | (7.20%) | (4.40%) |
Excess executive compensation | 0.90% | ||
Non-deductible acquisition expense | 1.70% | ||
Federal tax credits | (0.40%) | (0.50%) | (0.80%) |
Tax Cut and Jobs Act deferred tax re-measurement | 6.90% | ||
Tax on undistributed foreign earnings | 1.10% | 2.90% | |
Transition tax (repatriation) | (0.80%) | ||
Repatriation | 5.90% | ||
Other items | (0.70%) | (0.10%) | (0.40%) |
Effective income tax rate | 20.70% | 39.40% | 26.40% |
Note 7 - Taxes on Income - Unre
Note 7 - Taxes on Income - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reductions due to lapse of statute of limitations | $ (100) | $ (100) | $ (100) |
Excluding Interest and Penalties [Member] | |||
Balance at the beginning of year | 400 | 399 | |
Additions based on tax positions related to the current year | 56 | 59 | |
Additions for tax positions of prior years | 85 | ||
Reductions due to lapse of statute of limitations | (64) | (58) | |
Balance at the end of year | $ 477 | $ 400 | $ 399 |
Note 8 - Benefit Plans (Details
Note 8 - Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Defined Benefit Plans Number of Plans | 2 | ||
Defined Benefit Plans Retirement Age | 65 years | ||
Defined Benefit Plan, Funded (Unfunded) Status of Plan, Total | $ (7,145) | $ (6,241) | |
Other Assets [Member] | Nonqualified Plan [Member] | |||
Cash Surrender Value of Life Insurance | 2,900 | 2,200 | |
Other Noncurrent Liabilities [Member] | Nonqualified Plan [Member] | |||
Deferred Compensation Liability, Classified, Noncurrent, Total | 2,900 | 2,200 | |
Pension Plan [Member] | |||
Defined Benefit Plan, Funded (Unfunded) Status of Plan, Total | (1,700) | ||
Defined Benefit Plan, Expected Amortization, Next Fiscal Year, Total | (1,300) | ||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 100 | ||
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan, Funded (Unfunded) Status of Plan, Total | (8,800) | ||
Postretirement Life Insurance [Member] | |||
Cash Surrender Value of Life Insurance | 2,700 | 2,200 | |
Postretirement Life Insurance [Member] | Life Insurance Contracts [Member] | |||
Gain (Loss) on Investments, Total | $ 300 | 300 | $ 100 |
401(K) Plan [Member} | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution, Percent | 3.00% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 800 | $ 1,000 | $ 1,100 |
Note 8 - Benefit Plans - Define
Note 8 - Benefit Plans - Defined Benefit Plans Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Changes in benefit obligation | |||
Benefit obligation at beginning of year | $ 28,386 | $ 25,258 | |
Service cost - benefits earned during the period | 108 | 65 | $ 57 |
Interest cost on projected benefit obligation | 970 | 965 | 988 |
Actuarial (gain) loss | (1,597) | 3,755 | |
Benefits paid | (742) | (1,657) | |
Benefit obligation at end of year | 27,125 | 28,386 | 25,258 |
Changes in plan assets | |||
Fair value of plan assets at beginning of year | 22,145 | 15,791 | |
Actual return on assets | (1,526) | 2,413 | |
Employer contributions | 103 | 5,598 | |
Benefits paid | (742) | (1,657) | |
Fair value of plan assets at end of year | 19,980 | 22,145 | $ 15,791 |
Funded status at end of year | (7,145) | (6,241) | |
Amounts recognized in consolidated balance sheet | |||
Other assets | 1,663 | 2,181 | |
Other current liabilities | (103) | (103) | |
Long-term pension liability | (8,705) | (8,319) | |
(7,145) | (6,241) | ||
Amounts recognized in accumulated other comprehensive income consist of: | |||
Net actuarial loss | $ 11,417 | $ 10,903 |
Note 8 - Benefit Plans - Pensio
Note 8 - Benefit Plans - Pension Plans with Projected Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Projected benefit obligation | $ 27,125 | $ 28,386 |
Fair value of plan assets | (19,980) | (22,145) |
$ 7,145 | $ 6,241 |
Note 8 - Benefit Plans - Net Pe
Note 8 - Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Service cost - benefits earned during the period | $ 108 | $ 65 | $ 57 |
Interest cost on projected benefit obligation | 970 | 965 | 988 |
Expected return on plan assets | (1,717) | (1,218) | (1,188) |
Recognized actuarial loss | 1,132 | 1,042 | 1,027 |
Settlement loss | 435 | 445 | |
Net periodic pension cost after settlements | $ 493 | $ 1,289 | $ 1,329 |
Note 8 - Benefit Plans - Assump
Note 8 - Benefit Plans - Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Corporate Segment [Member] | |||
Benefit obligations, discount | 4.14% | 3.53% | |
Benefit obligations, long-term rate of return | 8.00% | 8.00% | |
Benefit obligations, salary scale | |||
Benefit obligations, net discount rate | 3.53% | 4.04% | 4.19% |
Benefit obligations, net long-term rate of return | 8.00% | 8.00% | 8.00% |
Benefit obligations, net salary scale | |||
Plants [Member] | |||
Benefit obligations, discount | 4.06% | 3.45% | |
Benefit obligations, long-term rate of return | 8.00% | 8.00% | |
Benefit obligations, salary scale | |||
Benefit obligations, net discount rate | 3.45% | 3.91% | 4.09% |
Benefit obligations, net long-term rate of return | 8.00% | 8.00% | 8.00% |
Benefit obligations, net salary scale |
Note 8 - Benefit Plans - Actual
Note 8 - Benefit Plans - Actual and Target Pension Plan Asset Allocation (Details) | Dec. 31, 2018 | Dec. 31, 2017 |
Percentage of plan assets | 100.00% | 100.00% |
Target allocation | 100.00% | |
Equity Securities [Member] | ||
Percentage of plan assets | 59.00% | 52.00% |
Target allocation | 60.00% | |
Fixed Income Investments [Member] | ||
Percentage of plan assets | 40.00% | 29.00% |
Target allocation | 40.00% | |
Other than Securities Investment [Member] | ||
Percentage of plan assets | 1.00% | 19.00% |
Target allocation |
Note 8 - Benefit Plans - Projec
Note 8 - Benefit Plans - Projected Benefit Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 1,612 |
2,020 | 2,108 |
2,021 | 2,000 |
2,022 | 2,009 |
2,023 | 1,471 |
2024-2028 | $ 8,590 |
Note 9 - Quarterly Results fo_3
Note 9 - Quarterly Results for 2018, 2017, and 2016 (Unaudited) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2017 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Expense (Benefit), Total | $ 5,000 | $ 4,420 | $ 9,760 | $ 5,260 | |||
Tax Adjustments, Settlements, and Unusual Provisions | $ 4,000 | $ 4,000 | |||||
Reclassification from APIC to Income Tax Expense [Member] | Three Months Ended March 31, 2016 [Member] | |||||||
Prior Period Reclassification Adjustment | $ 200 | ||||||
Reclassification from APIC to Income Tax Expense [Member] | Three Months Ended June 30, 2016 [Member] | |||||||
Prior Period Reclassification Adjustment | $ 200 | ||||||
Reclassification from APIC to Income Tax Expense [Member] | Three Months Ended September 30, 2016 [Member] | |||||||
Prior Period Reclassification Adjustment | $ 100 |
Note 9 - Quarterly Results fo_4
Note 9 - Quarterly Results for 2016, 2017 and 2018 (Unaudited) - Quarterly Results (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net sales | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Gross profit | 33,744 | 33,800 | 29,278 | 24,875 | 25,975 | 24,789 | 23,374 | 22,214 | 22,058 | 23,140 | 21,763 | 20,021 | 121,697 | 96,352 | 86,982 |
Income before taxes on income | 5,696 | 7,282 | 5,097 | 3,320 | 6,834 | 6,842 | 5,701 | 5,405 | 5,867 | 6,006 | 4,615 | 3,410 | |||
Net earnings used in the computation of basic and diluted earnings per share (in thousands) | $ 4,586 | $ 6,122 | $ 3,817 | $ 2,450 | $ 1,884 | $ 4,962 | $ 4,341 | $ 3,835 | $ 4,441 | $ 4,447 | $ 3,308 | $ 2,442 | $ 16,975 | $ 15,022 | $ 14,638 |
Weighted average number of shares outstanding during the period | |||||||||||||||
Net earnings (in dollars per share) | $ 0.31 | $ 0.41 | $ 0.26 | $ 0.17 | $ 0.12 | $ 0.33 | $ 0.29 | $ 0.26 | $ 0.31 | $ 0.31 | $ 0.23 | $ 0.18 | $ 1.14 | $ 1.04 | $ 1.04 |
Net earnings (in dollars per share) | $ 0.30 | $ 0.39 | $ 0.25 | $ 0.16 | $ 0.13 | $ 0.34 | $ 0.30 | $ 0.27 | $ 0.30 | $ 0.30 | $ 0.22 | $ 0.17 | $ 1.10 | $ 0.99 | $ 0.98 |
(Basic) (in shares) | 14,962,603 | 15,010,660 | 14,956,221 | 14,821,659 | 14,614,691 | 14,573,813 | 14,501,399 | 14,350,721 | 14,162,939 | 14,118,354 | 14,120,617 | 13,927,063 | 14,937,786 | 14,510,156 | 14,082,243 |
(Diluted) (in shares) | 15,371,606 | 15,449,894 | 15,990,404 | 15,457,629 | 15,275,222 | 15,229,722 | 15,040,431 | 14,929,695 | 14,979,746 | 14,984,084 | 14,957,469 | 14,668,658 | 15,472,133 | 15,118,768 | 14,897,489 |
Net sales | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Gross profit | 33,744 | 33,800 | 29,278 | 24,875 | 25,975 | 24,789 | 23,374 | 22,214 | 22,058 | 23,140 | 21,763 | 20,021 | 121,697 | 96,352 | 86,982 |
Income before taxes on income | 5,696 | 7,282 | 5,097 | 3,320 | 6,834 | 6,842 | 5,701 | 5,405 | 5,867 | 6,006 | 4,615 | 3,410 | |||
Net earnings used in the computation of basic and diluted earnings per share (in thousands) | $ 4,586 | $ 6,122 | $ 3,817 | $ 2,450 | $ 1,884 | $ 4,962 | $ 4,341 | $ 3,835 | $ 4,441 | $ 4,447 | $ 3,308 | $ 2,442 | $ 16,975 | $ 15,022 | $ 14,638 |
Note 10 - Rentals (Details Text
Note 10 - Rentals (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Rent Expense, Total | $ 2.1 | $ 1.1 | $ 1.1 |
Operating Leases, Future Minimum Payments Due, Total | 5.8 | ||
Operating Leases, Future Minimum Payments, Due in One and Two Years | 2.9 | ||
Operating Leases, Future Minimum Payments, Due in Three and Four Years | 1.9 | ||
Operating Leases, Future Minimum Payments, Due in Five to Seven Years | $ 1 |
Note 12 - Share-based Compens_3
Note 12 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,498,367 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 633,601 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance | 43,245 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 1 year 215 days | |||
Share-based Compensation Arrangement by Share-based Payment Award Options Vested and Expected to Vest Exercisable Intrinsic Value | $ 2,200 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 1,200 | $ 4,200 | $ 3,100 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 141,630 | 155,142 | 172,862 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.93 | $ 5.56 | $ 4.69 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 200 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 240 days | |||
Proceeds from Stock Options Exercised | $ 727 | $ 1,872 | $ 1,504 | |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options | $ 100 | $ 800 | $ 400 | |
Common Stock [Member] | ||||
Shares Received from Stock Options Exercised | 6,894 | 50,981 | 27,770 | |
Stock Issued During Period, Shares, New Issues | 26,234 | 144,443 | 81,608 | |
Employee Stock Option [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 215 days | |||
Employee Stock Option [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | [1] | 3 years | 5 years | 5 years |
Employee Stock Option [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | [1] | 10 years | 10 years | 10 years |
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | [1] | 3 years | 5 years | 5 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 2 years 210 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ 100 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | 100 | $ 3,500 | $ 1,500 | |
Employee Service Share-based Compensation, Tax Benefit from Exercise of Equity Instruments Other than Options | $ 100 | $ 1,300 | $ 500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.06 | $ 4.83 | $ 4.49 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 21.63 | $ 18.30 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1,000 | |||
Performance Shares [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 244 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 24.56 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 2,700 | |||
Performance Shares [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Performance Shares [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
Outside Directors [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | |||
[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 12 - Share-based Compens_4
Note 12 - Share-based Compensation - Shared-based Compensation Expense and the Related Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based compensation expense | $ 2,264 | $ 1,664 | $ 1,638 |
Related income tax benefit | 282 | 229 | 325 |
Stock Options and SARs [Member] | |||
Share-based compensation expense | 984 | 1,093 | 1,071 |
Restricted Stock [Member] | |||
Share-based compensation expense | 551 | 331 | 317 |
Performance Shares [Member] | |||
Share-based compensation expense | $ 729 | $ 240 | $ 250 |
Note 12 - Share-based Compens_5
Note 12 - Share-based Compensation - Stock Option Transactions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding Options (in shares) | 633,877 | 825,251 | |
Outstanding options (in dollars per share) | $ 13.33 | $ 10.46 | |
Granted (in shares) | 141,630 | 155,142 | 172,862 |
Granted (in dollars per share) | $ 22.20 | $ 18.67 | |
Exercised (in shares) | (94,241) | (336,726) | |
Exercised (in dollars per share) | $ 9.56 | $ 8.71 | |
Lapsed (in shares) | (1,800) | (1,100) | |
Lapsed (in dollars per share) | $ 5.88 | $ 5.86 | |
Cancelled (in shares) | (2,620) | (8,690) | |
Cancelled (in dollars per share) | $ 20.05 | $ 15.82 | |
Outstanding Options (in shares) | 676,846 | 633,877 | 825,251 |
Outstanding Options (in dollars per share) | $ 15.70 | $ 13.33 | $ 10.46 |
Note 12 - Share-based Compens_6
Note 12 - Share-based Compensation - Stock Options Outstanding (Details) | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Lower range of exercise prices on options (in dollars per share) | $ 3.82 |
Upper range of exercise prices on options (in dollars per share) | $ 24.28 |
Options outstanding (in shares) | shares | 676,846 |
Weighted average remaining contractual life on options (Year) | 3 years 43 days |
Weighted average exercise price on options (in dollars per share) | $ 15.70 |
Exercise Price Range 1 [Member] | |
Lower range of exercise prices on options (in dollars per share) | 3.82 |
Upper range of exercise prices on options (in dollars per share) | $ 5.88 |
Options outstanding (in shares) | shares | 89,000 |
Weighted average remaining contractual life on options (Year) | 2 years 222 days |
Weighted average exercise price on options (in dollars per share) | $ 5.33 |
Exercise Price Range 2 [Member] | |
Lower range of exercise prices on options (in dollars per share) | 7.36 |
Upper range of exercise prices on options (in dollars per share) | $ 10.38 |
Options outstanding (in shares) | shares | 97,344 |
Weighted average remaining contractual life on options (Year) | 1 year 244 days |
Weighted average exercise price on options (in dollars per share) | $ 8 |
Exercise Price Range 3 [Member] | |
Lower range of exercise prices on options (in dollars per share) | 16.35 |
Upper range of exercise prices on options (in dollars per share) | $ 18.86 |
Options outstanding (in shares) | shares | 347,472 |
Weighted average remaining contractual life on options (Year) | 2 years 332 days |
Weighted average exercise price on options (in dollars per share) | $ 17.50 |
Exercise Price Range 4 [Member] | |
Lower range of exercise prices on options (in dollars per share) | 21.63 |
Upper range of exercise prices on options (in dollars per share) | $ 24.28 |
Options outstanding (in shares) | shares | 143,030 |
Weighted average remaining contractual life on options (Year) | 4 years 120 days |
Weighted average exercise price on options (in dollars per share) | $ 23.03 |
Note 12 - Share-based Compens_7
Note 12 - Share-based Compensation - Stock-settled Stock Appreciation Rights Transactions (Details) - Stock Appreciation Rights (SARs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding SARS (in shares) | 325,506 | |
Outstanding SARS, weighted average exercise price (in dollars per share) | $ 10.26 | |
Granted (in shares) | 48,515 | 43,988 |
Granted SARS, weighted average exercise price (in dollars per share) | $ 23.59 | $ 16.97 |
Exercised (in shares) | (12,125) | (222,990) |
Exercised SARS, weighted average exercise price (in dollars per share) | $ 17.92 | $ 6.90 |
Exercised (in shares) | (12,125) | (222,990) |
Outstanding SARS (in shares) | 146,504 | |
Outstanding SARS, weighted average exercise price (in dollars per share) | $ 17.38 |
Note 12 - Share-based Compens_8
Note 12 - Share-based Compensation - Stock Appreciation Rights Outstanding (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | |
Lower range of exercise prices on options (in dollars per share) | $ 3.82 | ||
Upper range of exercise prices on options (in dollars per share) | 24.28 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Lower range of exercise prices on options (in dollars per share) | 16.35 | ||
Upper range of exercise prices on options (in dollars per share) | $ 23.59 | ||
SARS (in shares) | 182,894 | 146,504 | 325,506 |
Weighted average remaining contractual life (Year) | 2 years 222 days | ||
Weighted average exercise price (in dollars per share) | $ 18.99 | $ 17.38 | $ 10.26 |
Exercise Price Range 1 [Member] | |||
Lower range of exercise prices on options (in dollars per share) | 3.82 | ||
Upper range of exercise prices on options (in dollars per share) | 5.88 | ||
Exercise Price Range 1 [Member] | Stock Appreciation Rights (SARs) [Member] | |||
Lower range of exercise prices on options (in dollars per share) | 16.35 | ||
Upper range of exercise prices on options (in dollars per share) | $ 18.66 | ||
SARS (in shares) | 134,379 | ||
Weighted average remaining contractual life (Year) | 2 years 29 days | ||
Weighted average exercise price (in dollars per share) | $ 17.33 | ||
Exercise Price Range 2 [Member] | |||
Lower range of exercise prices on options (in dollars per share) | 7.36 | ||
Upper range of exercise prices on options (in dollars per share) | 10.38 | ||
Exercise Price Range 2 [Member] | Stock Appreciation Rights (SARs) [Member] | |||
Lower range of exercise prices on options (in dollars per share) | 23.59 | ||
Upper range of exercise prices on options (in dollars per share) | $ 23.59 | ||
SARS (in shares) | 48,515 | ||
Weighted average remaining contractual life (Year) | 4 years 29 days | ||
Weighted average exercise price (in dollars per share) | $ 23.59 |
Note 12 - Share-based Compens_9
Note 12 - Share-based Compensation - Summary of Significant Assumptions for Share-based Compensation Awards (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Expected award life (Year) | 5 years | |||
Stock Appreciation Rights (SARs) [Member] | ||||
Exercise price (in dollars per share) | $ 23.59 | $ 16.97 | $ 16.35 | |
Market price (in dollars per share) | $ 23.59 | $ 16.97 | $ 16.35 | |
Risk free interest rate | [1] | 2.60% | 1.90% | 1.30% |
Expected award life (Year) | [2] | 3 years | 5 years | 5 years |
Expected volatility | [3] | 38.10% | 36.60% | 36.50% |
Expected dividend yield | [4] | 1.60% | 2.10% | 2.00% |
Employee Stock Option [Member] | Minimum [Member] | ||||
Exercise price (in dollars per share) | $ 18.86 | $ 16.97 | $ 16.35 | |
Market price (in dollars per share) | $ 18.86 | $ 16.97 | $ 16.35 | |
Risk free interest rate | [1] | 2.60% | 1.80% | 1.10% |
Expected award life (Year) | [2] | 3 years | 5 years | 5 years |
Expected volatility | [3] | 35.40% | 36.60% | 36.50% |
Expected dividend yield | [4] | 1.60% | 1.80% | 1.80% |
Employee Stock Option [Member] | Maximum [Member] | ||||
Exercise price (in dollars per share) | $ 24.28 | $ 21.63 | $ 18.55 | |
Market price (in dollars per share) | $ 24.28 | $ 21.63 | $ 18.55 | |
Risk free interest rate | [1] | 2.90% | 2.40% | 1.80% |
Expected award life (Year) | [2] | 10 years | 10 years | 10 years |
Expected volatility | [3] | 42.10% | 41.40% | 40.30% |
Expected dividend yield | [4] | 2.10% | 2.10% | 2.10% |
[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 three years ended December 31, 2018, 2017 and 2016 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 12 - Share-based Compen_10
Note 12 - Share-based Compensation - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Outstanding restricted stock (in shares) | 61,378 | 123,688 |
Outstanding restricted stock (in dollars per share) | $ 17.89 | $ 8.94 |
Granted restricted stock (in shares) | 37,930 | 43,706 |
Granted restricted stock (in dollars per share) | $ 21.63 | $ 18.30 |
Vested restricted stock (in shares) | (7,276) | (106,016) |
Vested restricted stock (in dollars per share) | $ 17.59 | $ 7.62 |
Forfeited restricted stock (in shares) | ||
Forfeited restricted stock (in dollars per share) | ||
Vested restricted stock (in dollars per share) | $ 17.59 | $ 7.62 |
Forfeited restricted stock (in shares) | ||
Forfeited restricted stock (in dollars per share) | ||
Outstanding restricted stock (in shares) | 92,032 | 61,378 |
Outstanding restricted stock (in dollars per share) | $ 19.46 | $ 17.89 |
Note 12 - Share-based Compen_11
Note 12 - Share-based Compensation - Performance Share Transactions (Details) - Performance Shares [Member] | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Outstanding restricted stock (in shares) | shares | 118,492 |
Outstanding restricted stock (in dollars per share) | $ / shares | $ 17.24 |
Granted restricted stock (in shares) | shares | 84,838 |
Granted restricted stock (in dollars per share) | $ / shares | $ 24.56 |
Vested (in shares) | shares | 0 |
Vested restricted stock (in dollars per share) | $ / shares | $ 0 |
Forfeited restricted stock (in shares) | shares | (8,952) |
Forfeited restricted stock (in dollars per share) | $ / shares | $ 24.98 |
Outstanding restricted stock (in shares) | shares | 194,378 |
Outstanding restricted stock (in dollars per share) | $ / shares | $ 20.08 |
Note 13 - Earnings Per Share (D
Note 13 - Earnings Per Share (Details Textual) - Stock Compensation Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 322,000 | 37,450 | 124,000 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Weight Average Exercise Price | $ 21.34 | $ 18.65 | $ 18.53 |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net earnings used in the computation of basic and diluted earnings per share (in thousands) | $ 4,586 | $ 6,122 | $ 3,817 | $ 2,450 | $ 1,884 | $ 4,962 | $ 4,341 | $ 3,835 | $ 4,441 | $ 4,447 | $ 3,308 | $ 2,442 | $ 16,975 | $ 15,022 | $ 14,638 |
Weighted average shares outstanding - basic (in shares) | 14,962,603 | 15,010,660 | 14,956,221 | 14,821,659 | 14,614,691 | 14,573,813 | 14,501,399 | 14,350,721 | 14,162,939 | 14,118,354 | 14,120,617 | 13,927,063 | 14,937,786 | 14,510,156 | 14,082,243 |
Common stock equivalents (in shares) | 534,347 | 608,612 | 815,246 | ||||||||||||
(Diluted) (in shares) | 15,371,606 | 15,449,894 | 15,990,404 | 15,457,629 | 15,275,222 | 15,229,722 | 15,040,431 | 14,929,695 | 14,979,746 | 14,984,084 | 14,957,469 | 14,668,658 | 15,472,133 | 15,118,768 | 14,897,489 |
Weighted average number of shares outstanding during the period | |||||||||||||||
Net earnings (in dollars per share) | $ 0.31 | $ 0.41 | $ 0.26 | $ 0.17 | $ 0.12 | $ 0.33 | $ 0.29 | $ 0.26 | $ 0.31 | $ 0.31 | $ 0.23 | $ 0.18 | $ 1.14 | $ 1.04 | $ 1.04 |
Net earnings (in dollars per share) | $ 0.30 | $ 0.39 | $ 0.25 | $ 0.16 | $ 0.13 | $ 0.34 | $ 0.30 | $ 0.27 | $ 0.30 | $ 0.30 | $ 0.22 | $ 0.17 | $ 1.10 | $ 0.99 | $ 0.98 |
Note 14 - Other Current Liabi_3
Note 14 - Other Current Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Salaries, wages, commissions and vacation pay | $ 6,483 | $ 7,851 |
Accrued rebates | 1,857 | 1,089 |
Income taxes payable | 1,586 | 211 |
401K profit sharing accrual | 961 | 912 |
Defined contribution plan accrual | 103 | 104 |
Customer deposits | 437 | 473 |
Other accrued expenses | 3,340 | 1,769 |
$ 14,767 | $ 12,409 |
Note 15 - Supplemental Cash F_3
Note 15 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 94,241 | 336,726 | ||
Inventory, Net, Total | $ 67,301 | $ 64,979 | ||
Other Liabilities, Current, Total | 14,767 | $ 12,409 | ||
Deferred Tax Liabilities, Net, Total | $ 8,475 | |||
Accounting Standards Update 2014-09 [Member] | ||||
Contract with Customer, Asset, Net, Total | $ 43,300 | |||
Inventory, Net, Total | (24,900) | |||
Accounts Payable, Total | 2,600 | |||
Other Liabilities, Current, Total | 1,100 | |||
Deferred Tax Liabilities, Net, Total | $ 3,500 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 26,234 | 144,443 | 81,608 | |
Common Stock [Member] | ||||
Shares Received from Stock Options Exercised | 6,894 | 50,981 | 27,770 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 87,347 | 285,745 | 251,996 |
Note 15 - Supplemental Cash F_4
Note 15 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income taxes paid | $ 1,088 | $ 7,173 | $ 5,076 |
Interest paid | $ 2,724 | $ 727 | $ 694 |
Note 16 - Stock Repurchase Pl_2
Note 16 - Stock Repurchase Plan (Details Textual) - shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Aug. 01, 2008 | |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 1,000,000 | |||
Stock Repurchased and Retired During Period, Shares | 158,359 | 0 | 45,100 | |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 58,216 |
Note 17 - Operating Segment I_3
Note 17 - Operating Segment Information (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Operating Segments | 3 |
Note 17 - Operating Segment I_4
Note 17 - Operating Segment Information - Information Related to the Operations of the Company's Operating Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 95,001 | $ 95,870 | $ 82,392 | $ 73,087 | $ 72,450 | $ 67,773 | $ 65,604 | $ 60,987 | $ 64,686 | $ 65,282 | $ 64,660 | $ 57,968 | $ 346,350 | $ 266,814 | $ 252,596 |
Gross margin | 33,744 | $ 33,800 | $ 29,278 | $ 24,875 | 25,975 | $ 24,789 | $ 23,374 | $ 22,214 | 22,058 | $ 23,140 | $ 21,763 | $ 20,021 | 121,697 | 96,352 | 86,982 |
Selling, General and Administrative Expense, Total | 96,710 | 70,592 | 65,124 | ||||||||||||
Other periodic pension cost | 385 | 1,224 | 1,272 | ||||||||||||
Interest expense | 3,207 | 802 | 688 | ||||||||||||
Income before taxes on income | 21,395 | 24,782 | 19,898 | ||||||||||||
Depreciation and amortization | 7,906 | 5,653 | 4,935 | ||||||||||||
Capital expenditures | 4,869 | 4,248 | 7,385 | ||||||||||||
Total assets | 335,086 | 218,938 | 196,848 | 335,086 | 218,938 | 196,848 | |||||||||
Gain (loss) on sale of property, plant and equipment | 1,048 | ||||||||||||||
Intersegment Eliminations [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | (4,039) | (3,755) | (3,546) | ||||||||||||
Gross margin | (2,609) | (2,431) | (2,311) | ||||||||||||
Selling, General and Administrative Expense, Total | (2,609) | (2,431) | (2,311) | ||||||||||||
Other periodic pension cost | |||||||||||||||
Interest expense | |||||||||||||||
Income before taxes on income | |||||||||||||||
Depreciation and amortization | |||||||||||||||
Capital expenditures | |||||||||||||||
Total assets | (87,610) | (40,528) | (27,454) | (87,610) | (40,528) | (27,454) | |||||||||
Gain (loss) on sale of property, plant and equipment | |||||||||||||||
Uniforms and Related Products [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 238,166 | ||||||||||||||
Uniforms and Related Products [Member] | Operating Segments [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 238,165 | 204,644 | 210,373 | ||||||||||||
Gross margin | 83,728 | 72,463 | 69,987 | ||||||||||||
Selling, General and Administrative Expense, Total | 68,848 | 52,967 | 50,953 | ||||||||||||
Other periodic pension cost | 385 | 1,224 | 1,272 | ||||||||||||
Interest expense | 2,019 | 387 | 462 | ||||||||||||
Income before taxes on income | 12,476 | 17,883 | 17,300 | ||||||||||||
Depreciation and amortization | 5,611 | 4,223 | 4,023 | ||||||||||||
Capital expenditures | 2,794 | 2,870 | 3,383 | ||||||||||||
Total assets | 331,113 | 182,623 | 176,070 | 331,113 | 182,623 | 176,070 | |||||||||
Gain (loss) on sale of property, plant and equipment | (2) | ||||||||||||||
Remote Staffing Solutions [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 27,272 | ||||||||||||||
Remote Staffing Solutions [Member] | Operating Segments [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 31,311 | 23,021 | 17,953 | ||||||||||||
Gross margin | 17,907 | 12,460 | 9,616 | ||||||||||||
Selling, General and Administrative Expense, Total | 11,160 | 7,877 | 6,096 | ||||||||||||
Other periodic pension cost | |||||||||||||||
Interest expense | |||||||||||||||
Income before taxes on income | 6,747 | 5,633 | 3,520 | ||||||||||||
Depreciation and amortization | 990 | 846 | 494 | ||||||||||||
Capital expenditures | 1,581 | 1,156 | 3,872 | ||||||||||||
Total assets | 29,590 | 21,846 | 19,752 | 29,590 | 21,846 | 19,752 | |||||||||
Gain (loss) on sale of property, plant and equipment | 1,050 | ||||||||||||||
Promotional Products [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 80,912 | ||||||||||||||
Promotional Products [Member] | Operating Segments [Member] | |||||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 80,913 | 42,904 | 27,816 | ||||||||||||
Gross margin | 22,671 | 13,860 | 9,690 | ||||||||||||
Selling, General and Administrative Expense, Total | 19,311 | 12,179 | 10,386 | ||||||||||||
Other periodic pension cost | |||||||||||||||
Interest expense | 1,188 | 415 | 226 | ||||||||||||
Income before taxes on income | 2,172 | 1,266 | (922) | ||||||||||||
Depreciation and amortization | 1,299 | 584 | 418 | ||||||||||||
Capital expenditures | 494 | 219 | 130 | ||||||||||||
Total assets | $ 61,993 | $ 54,997 | $ 28,480 | $ 61,993 | 54,997 | $ 28,480 | |||||||||
Gain (loss) on sale of property, plant and equipment |
Note 18 - Acquisition of Busi_3
Note 18 - Acquisition of Businesses (Details Textual) - USD ($) | May 02, 2018 | Dec. 01, 2017 | Aug. 21, 2017 | Mar. 08, 2016 | Mar. 01, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Amortization of Intangible Assets, Total | $ 3,800,000 | $ 2,400,000 | $ 2,300,000 | |||||
Business Combination, Contingent Consideration, Liability, Current | 941,000 | 3,061,000 | ||||||
Goodwill, Ending Balance | $ 33,961,000 | $ 16,032,000 | ||||||
Customer Relationships [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years 292 days | 8 years 292 days | ||||||
Noncompete Agreements [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life | 4 years 36 days | 5 years 36 days | ||||||
CID Resources [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 84,430,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 150,094 | |||||||
Working Capital Target Amount | $ 39,500,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 41,020,000 | |||||||
Amortization of Intangible Assets, Total | $ 1,300,000 | |||||||
Business Combination, Acquisition Related Costs | 2,100,000 | |||||||
Business Acquisition, Pro Forma Revenue | 22,300,000 | $ 65,300,000 | 61,200,000 | |||||
Business Acquisition, Pro Forma Net Income (Loss) | $ 2,700,000 | $ 400,000 | $ 300,000 | |||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 0.17 | $ 0.02 | $ 0.02 | |||||
Business Combination, Consideration Transferred, Total | 90,714,000 | |||||||
Goodwill, Ending Balance | 17,968,000 | |||||||
CID Resources [Member] | Trade Names [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 14,200,000 | |||||||
CID Resources [Member] | Customer Relationships [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 26,000,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||||
CID Resources [Member] | Noncompete Agreements [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 800,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||||||
BAMKO [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 15,200,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 324,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 11,400,000 | $ 11,360,000 | ||||||
Amortization of Intangible Assets, Total | $ 400,000 | $ 400,000 | $ 300,000 | |||||
Business Combination, Acquisition Related Costs | 1,100,000 | |||||||
Business Acquisition, Pro Forma Revenue | 6,600,000 | |||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ 1,100,000 | |||||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 0.08 | |||||||
Business Acquisition, Equity Interested Issued, Vesting Period | 5 years | |||||||
Business Combination, Liabilities Arising From Contingencies, Earn Out Liability, Before Discount | $ 5,500,000 | |||||||
Business Combination, Contingent Consideration, Liability, Total | 4,000,000 | |||||||
Business Combination, Contingent Consideration, Liability, Current | 900,000 | |||||||
Business Combination, Consideration Transferred, Total | 24,924,000 | |||||||
Goodwill, Ending Balance | $ 6,994,000 | |||||||
BAMKO [Member] | Trade Names [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 8,900,000 | |||||||
BAMKO [Member] | Customer Relationships [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 2,100,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||||
BAMKO [Member] | Noncompete Agreements [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 400,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 5 years 302 days | |||||||
Public Identity [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 800,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 54,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 1,700,000 | |||||||
Business Acquisition, Equity Interested Issued, Vesting Period | 3 years | |||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 400,000 | |||||||
Business Combination, Consideration Transferred, Total | 2,300,000 | |||||||
Goodwill, Ending Balance | $ 600,000 | |||||||
Tangerine [Member] | ||||||||
Payments to Acquire Businesses, Gross | $ 7,200,000 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 83,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 6,495,000 | |||||||
Amortization of Intangible Assets, Total | 600,000 | 100,000 | ||||||
Business Combination, Acquisition Related Costs | 200,000 | |||||||
Business Acquisition, Pro Forma Revenue | 35,100,000 | $ 43,100,000 | ||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ 100,000 | $ (2,400,000) | ||||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 0.01 | $ (0.17) | ||||||
Business Acquisition, Equity Interested Issued, Vesting Period | 4 years | |||||||
Business Combination, Liabilities Arising From Contingencies, Earn Out Liability, Before Discount | $ 5,500,000 | |||||||
Business Combination, Contingent Consideration, Liability, Total | $ 2,400,000 | |||||||
Business Combination, Consideration Transferred, Total | 12,088,000 | |||||||
Goodwill, Ending Balance | 4,169,000 | |||||||
Tangerine [Member] | Trade Names [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,200,000 | |||||||
Tangerine [Member] | Customer Relationships [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 3,100,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 7 years | |||||||
Tangerine [Member] | Noncompete Agreements [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 200,000 | |||||||
Finite-Lived Intangible Asset, Useful Life | 7 years |
Note 18 - Acquisition of Busi_4
Note 18 - Acquisition of Businesses - Purchase Price (Details) - USD ($) $ in Thousands | May 02, 2018 | Dec. 01, 2017 | Mar. 08, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash consideration at closing, net of cash acquired | $ 85,597 | $ 7,988 | $ 15,161 | |||
CID Resources [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 84,430 | |||||
Superior common stock issued | 3,763 | |||||
Cash and working capital adjustment | 2,521 | |||||
Business Combination, Consideration Transferred, Total | $ 90,714 | |||||
BAMKO [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 15,200 | |||||
Superior common stock issued | 4,558 | |||||
Business Combination, Consideration Transferred, Total | 24,924 | |||||
Cash consideration at closing, net of cash acquired | 15,161 | |||||
Contingent consideration | $ 5,205 | |||||
Tangerine [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 7,200 | |||||
Superior common stock issued | 1,657 | |||||
Business Combination, Consideration Transferred, Total | 12,088 | |||||
Cash consideration at closing, net of cash acquired | 7,222 | |||||
Contingent consideration | $ 3,209 |
Note 18 - Acquisition of Busi_5
Note 18 - Acquisition of Businesses - Aggregate Consideration (Details) - USD ($) | Dec. 31, 2018 | May 02, 2018 | Dec. 31, 2017 | Dec. 01, 2017 | Mar. 08, 2016 | Mar. 01, 2016 |
Goodwill, Ending Balance | $ 33,961,000 | $ 16,032,000 | ||||
CID Resources [Member] | ||||||
Cash | $ 1,360,000 | |||||
Accounts receivable | 9,657,000 | |||||
Prepaid expenses and other current assets | 1,248,000 | |||||
Inventories | 30,692,000 | |||||
Property, plant and equipment | 1,134,000 | |||||
Contract assets | 2,535,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 41,020,000 | |||||
Goodwill, Ending Balance | 17,968,000 | |||||
Total assets | 105,614,000 | |||||
Accounts payable | 4,472,000 | |||||
Deferred tax liability | 9,461,000 | |||||
Other current liabilities | 967,000 | |||||
Total liabilities | $ 14,900,000 | |||||
BAMKO [Member] | ||||||
Accounts receivable | $ 4,885,000 | |||||
Prepaid expenses and other current assets | 3,200,000 | |||||
Inventories | 236,000 | |||||
Property, plant and equipment | 199,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 11,400,000 | 11,360,000 | ||||
Goodwill, Ending Balance | 6,994,000 | |||||
Total assets | 26,974,000 | |||||
Accounts payable | 1,314 | |||||
Other current liabilities | 736,000 | |||||
Total liabilities | 2,050,000 | |||||
Other assets | $ 100,000 | |||||
Tangerine [Member] | ||||||
Accounts receivable | $ 5,051,000 | |||||
Prepaid expenses and other current assets | 969,000 | |||||
Property, plant and equipment | 131,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 6,495,000 | |||||
Goodwill, Ending Balance | 4,169,000 | |||||
Total assets | 16,815,000 | |||||
Accounts payable | 3,374,000 | |||||
Other current liabilities | 1,353,000 | |||||
Total liabilities | $ 4,727,000 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - USD ($) $ in Thousands | Jan. 22, 2019 | May 02, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 01, 2018 |
Repayments of Long-term Debt, Total | $ 127,439 | $ 77,573 | $ 106,827 | |||
Long-term Debt, Gross | 117,693 | $ 38,975 | ||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 6,000 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 6,000 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 6,000 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 6,000 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 6,000 | |||||
Long Term Debt Maturities Repayments of Principal in Year Six | $ 1,500 | |||||
Long Term Debt Maturities Repayments of Principal in Year Seven | $ 3,050 | |||||
Credit Agreement [Member] | Term Loan 2 [Member] | ||||||
Debt Instrument, Face Amount | $ 85,000 | |||||
Credit Agreement [Member] | Term Loan 2 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.93% | |||||
Credit Agreement [Member] | Term Loan 2 [Member] | Subsequent Event [Member] | ||||||
Debt Instrument, Face Amount | $ 85,000 | |||||
Repayments of Long-term Debt, Total | 20,000 | |||||
Long-term Debt, Gross | 65,000 | |||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 8,500 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 9,300 | |||||
Long Term Debt Maturities Repayments of Principal in Year Eight | 800 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 9,300 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 9,300 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 9,300 | |||||
Long Term Debt Maturities Repayments of Principal in Year Six | 9,300 | |||||
Long Term Debt Maturities Repayments of Principal in Year Seven | $ 9,300 | |||||
Credit Agreement [Member] | Term Loan 2 [Member] | Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 0.85% |