XML 52 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2014
BUSINESS SEGMENTS

NOTE I — BUSINESS SEGMENTS

The Company operates in three reportable business segments: U.S. Wholesale, International and Retail Direct. The U.S. Wholesale segment is the Company’s primary domestic business that designs, markets and distributes its products to retailers and distributors. The International Segment consists of certain business operations conducted outside the U.S. which was previously included in the Wholesale segment. The Retail Direct segment is where the Company markets and sells a limited selection of its products to consumers through its Pfaltzgraff®, Mikasa® and Lifetime Sterling® websites.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. While the three segments distribute similar products, the segments have been distinct due to the different methods the Company uses to sell, market and distribute the products. Management evaluates the performance of the U.S. Wholesale, International and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2014     2013     2014     2013  
     (in thousands)  

Net sales

         

U.S. Wholesale

    $ 125,341      $ 128,143      $ 296,155      $ 299,457   

International

      33,247        10,360        87,969        25,433   

Retail Direct

      3,656        3,726        11,852        12,972   
  

 

 

    

 

 

    

 

 

    

 

 

  

Total net sales

    $ 162,244      $ 142,229      $ 395,976      $ 337,862   
  

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) from operations

         

U.S. Wholesale

    $ 9,919      $ 15,294      $ 13,096      $ 23,671   

International

      2,141        213        1,226        (2,185 ) 

Retail Direct

      (372 )      (267 )      (1,088 )      (533 ) 

Unallocated corporate expenses

      (3,260 )      (3,547 )      (10,160 )      (9,363 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total income from operations

    $ 8,428      $ 11,693      $ 3,074      $ 11,590   
  

 

 

    

 

 

    

 

 

    

 

 

  

Depreciation and amortization

         

U.S. Wholesale

    $ (1,888 )    $ (2,161 )    $ (6,409 )    $ (6,340 ) 

International

      (1,373 )      (290 )      (4,054 )      (1,170 ) 

Retail Direct

      (38 )      (66 )      (165 )      (197 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total depreciation and amortization

    $ (3,299 )    $ (2,517 )    $ (10,628 )    $ (7,707 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

     September 30,
2014		      December 31,
2013		  
     (in thousands)  

Assets

      

U.S. Wholesale

    $ 316,369       $ 291,757   

International

      130,873         35,365   

Retail Direct

      507         730   

Unallocated/ Corporate/ Other

      8,915         8,887   
  

 

 

     

 

 

  

Total assets

    $ 456,664       $ 336,739