XML 32 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE 18 - CONSOLIDATED QUARTERLY DATA (Unaudited)
 12 Months Ended
Jan. 29, 2012
Quarterly Financial Information [Text Block]
NOTE 18 – CONSOLIDATED QUARTERLY DATA (Unaudited)

   
Fiscal Quarter
 
   
First
   
Second
   
Third
   
Fourth
 
2012
                       
Net sales
  $ 58,393     $ 55,574     $ 54,180     $ 54,358  
Cost of sales
    47,360       43,411       41,443       41,428  
Gross profit
    11,033       12,163       12,737       12,930  
Selling and administrative expenses
    10,286       9,669       10,031       10,389  
Restructuring charges
    -       -       -       -  
Intangible asset impairment charges
    -       -       -       1,815  (a)
Net income
    523       1,646       2,260       628  
Basic and diluted earnings per share
  $ 0.05     $ 0.15     $ 0.21     $ 0.06  

   
Fiscal Quarter
 
   
First
   
Second
   
Third
   
Fourth
 
2011
                       
Net sales
  $ 51,353     $ 53,377     $ 55,735     $ 54,964  
Cost of sales
    39,584       41,421       43,460       44,082  
Gross profit
    11,769       11,956       12,275       10,882  
Selling and administrative expenses
    10,063       10,387       10,610       9,962  
Restructuring charges
    -       -       -       1,403  (b)
Intangible asset impairment charges
    -       -       -       396  (b)
Net income (loss)
    1,074       1,178       1,170       (182 )
Basic and diluted earnings (loss) per share
  $ 0.10     $ 0.11     $ 0.11     $ (0.02 )


Earnings per share for each fiscal quarter is derived using the weighted average number of shares outstanding during that quarter.  Earnings per share for each fiscal year is derived using the weighted average number of shares outstanding on an annual basis.  Consequently, the sum of earnings per share for the quarters of a fiscal year may not equal earnings per share for the full fiscal year.

(a) During the fiscal 2012 fourth quarter, we recorded asset impairment charges of $1.8 million pretax ($1.1 million after tax or $0.10 per share) on our Bradington-Young trade name.

(b) During the fiscal 2011 fourth quarter, we recorded a charge of $1.4 million pretax ($874,000, after tax or $0.08 per share) related to the consolidation and transfer of Bradington-Young's Cherryville, NC manufacturing facility and offices to Hickory, NC; and we recorded asset impairment charges of $396,000 ($247,000 after tax or $0.02 per share) on our Opus Designs by Hooker Furniture trade name.