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Note 5 - Segment Reporting
 9 Months Ended
Jan. 30, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 5. Segment Reporting

 

We organize and manage our business by the following five segments which meet the definition of reportable segments under ASC 280-10, Segment Reporting: Commercial, Live Events, High School Park and Recreation, Transportation, and International. These segments are based on the customer type or geography and are the same as our business units. Separate financial information is available and regularly evaluated by our chief operating decision-maker (CODM), who is our president and chief executive officer, in making resource allocation decisions for our segments. Our CODM evaluates segment performance to the GAAP measure of gross profit. We exclude general and administration expense, product design and development expense, non-operating income and expense, and income tax expense (benefit) in the segment analysis.

 

The following table sets forth certain financial information for each of our five reporting segments for the periods indicated:

 

  

Three Months Ended

  

Nine Months Ended

 
  

January 30,

  

February 1,

  

January 30,

  

February 1,

 
  

2021

  

2020

  

2021

  

2020

 

Net sales:

                

Commercial

 $30,085  $36,880  $94,947  $120,566 

Live Events

  23,330   40,571   112,626   159,196 

High School Park and Recreation

  14,644   14,775   71,165   75,433 

Transportation

  11,769   13,916   41,590   53,264 

International

  14,311   21,515   44,822   74,365 

Total company net sales

  94,139   127,657   365,150   482,824 
                 

Gross profit:

                

Commercial

  8,410   5,399   24,730   22,479 

Live Events

  4,256   7,815   20,910   32,486 

High School Park and Recreation

  6,437   3,184   25,410   22,595 

Transportation

  3,845   4,316   14,300   18,073 

International

  993   3,768   7,666   14,441 
   23,941   24,482   93,016   110,074 
                 

Operating expenses:

                

Selling

  12,004   16,552   36,214   51,026 

General and administrative

  6,389   8,640   20,777   26,698 

Product design and development

  5,784   8,442   20,053   29,063 
   24,177   33,634   77,044   106,787 

Operating (loss) income

  (236)  (9,152)  15,972   3,287 
                 

Nonoperating income (expense):

                

Interest income

  52   233   203   664 

Interest expense

  (92)  13   (249)  (53)

Other (expense) income, net

  (913)  (331)  (2,377)  (652)

(Loss) income before income taxes

 $(1,189) $(9,237) $13,549  $3,246 
                 

Depreciation and amortization:

                

Commercial

 $760  $930  $2,253  $2,799 

Live Events

  1,436   1,395   4,311   4,187 

High School Park and Recreation

  464   501   1,452   1,520 

Transportation

  233   255   704   771 

International

  738   646   2,132   1,733 

Unallocated corporate depreciation

  653   746   1,996   2,187 
  $4,284  $4,473  $12,848  $13,197 

 

No single geographic area comprises a material amount of our net sales or property and equipment, net of accumulated depreciation, other than the United States. The following table presents information about net sales and property and equipment, net of accumulated depreciation, in the United States and elsewhere:

 

  

Three Months Ended

  

Nine Months Ended

 
  

January 30,

  

February 1,

  

January 30,

  

February 1,

 
  

2021

  

2020

  

2021

  

2020

 

Net sales:

                

United States

 $78,152  $103,347  $314,674  $399,913 

Outside United States

  15,987   24,310   50,476   82,911 
  $94,139  $127,657  $365,150  $482,824 

 

  

January 30,

  

May 2,

 
  

2021

  

2020

 

Property and equipment, net of accumulated depreciation:

        

United States

 $52,657  $58,422 

Outside United States

  9,148   9,062 
  $61,805  $67,484 

 

We have numerous customers worldwide for sales of our products and services, and no customer accounted for 10 percent or more of net sales; therefore, we are not economically dependent on a limited number of customers for the sale of our products and services.

 

We have numerous raw material and component suppliers, and no supplier accounts for 10 percent or more of our cost of sales; however, we have a number of single-source suppliers that could limit our supply or cause delays in obtaining raw material and components needed in manufacturing.