XML 27 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2017
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. The Retail Direct segment is where the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff, Mikasa, Fred and Friends, Built NY and Lifetime Sterling internet 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 are 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
March 31,		  
     2017      2016  
     (in thousands)  

Net sales

      

U.S. Wholesale

    $ 87,392      $ 82,268  

International

      21,228        23,673  

Retail Direct

      4,736        4,984  
  

 

 

     

 

 

  

Total net sales

    $ 113,356      $ 110,925  
  

 

 

     

 

 

  

Income (loss) from operations

      

U.S. Wholesale

    $ 2,235      $ (1,789 ) 

International

      (1,157 )       395  

Retail Direct

      116        37  

Unallocated corporate expenses

      (3,068 )       (3,858 ) 
  

 

 

     

 

 

  

Loss from operations

    $ (1,874 )     $ (5,215 ) 
  

 

 

     

 

 

  

Depreciation and amortization

      

U.S. Wholesale

    $ 2,302      $ 2,179  

International

      951        1,270  

Retail Direct

      33        35  
  

 

 

     

 

 

  

Total depreciation and amortization

    $ 3,286      $ 3,484  
  

 

 

     

 

 

  

 

     March 31,
2017		      December 31,
2016		  
     (in thousands)  

Assets

      

U.S. Wholesale

    $ 260,454      $ 287,313  

International

      98,965        95,698  

Retail Direct

      466        501  

Unallocated/ Corporate/ Other

      14,762        16,342  
  

 

 

     

 

 

  

Total assets

    $ 374,647      $ 399,854