Segment Information (Tables)

3 Months Ended

Jul. 29, 2012

Schedule of Operating Segments Information

Financial information for the company’s operating segments follows:

	Three months ended
(dollars in thousands)	July 29, 2012			July 31, 2011
Net sales:
Mattress Fabrics	$	37,964		$	32,170
Upholstery Fabrics		31,220			28,100
	$	69,184		$	60,270

Gross profit:
Mattress Fabrics	$	7,622		$	5,137
Upholstery Fabrics		5,498			3,741
	$	13,120		$	8,878

Selling, general, and administrative expenses:
Mattress Fabrics	$	2,391		$	1,992
Upholstery Fabrics		3,340			2,766
Total segment selling, general, and
administrative expenses		5,731			4,758
Unallocated corporate expenses		1,910			999
	$	7,641		$	5,757

Income from operations:
Mattress Fabrics	$	5,230		$	3,146
Upholstery Fabrics		2,159			974
Total segment income from operations		7,389			4,120
Unallocated corporate expenses		(1,910	)		(999	)
Total income from operations		5,479			3,121
Interest expense		(190	)		(220	)
Interest income		127			129
Other expense		(44	)		(65	)
Income before income taxes	$	5,372		$	2,965

Balance sheet information for the company’s operating segments follow:

(dollars in thousands)	July 29, 2012		April 29, 2012
Segment assets:
Mattress Fabrics
Current assets (1)	$	36,735	$	29,909
Assets held for sale		15		15
Non-compete agreements, net		295		333
Goodwill		11,462		11,462
Property, plant and equipment (2)		29,114		29,237
Total mattress fabrics assets		77,621		70,956
Upholstery Fabrics
Current assets (1)		27,338		31,519
Property, plant and equipment (3)		1,062		1,124
Total upholstery fabrics assets		28,400		32,643
Total segment assets		106,021		103,599
Non-segment assets:
Cash and cash equivalents		21,889		25,023
Short-term investments		5,200		5,941
Deferred income taxes		5,052		5,672
Other current assets		2,563		1,989
Property, plant and equipment (4)		840		918
Other assets		1,595		1,574
Total assets	$	143,160	$	144,716

	Three months ended
(dollars in thousands)	July 29, 2012		July 31, 2011
Capital expenditures (5):
Mattress Fabrics	$	969	$	1,205
Upholstery Fabrics		8		292
Unallocated Corporate		14		9
Total capital expenditures	$	991	$	1,506
Depreciation expense:
Mattress Fabrics	$	1,092	$	1,029
Upholstery Fabrics		162		158
Total depreciation expense	$	1,254	$	1,187

(1)	Current assets represent accounts receivable and inventory for the respective segment.

(2)

The $29.1 million at July 29, 2012, represents property, plant, and equipment of $21.3 million and $7.8 million located in the U.S. and Canada, respectively. The $29.2 million at April 29, 2012, represents property, plant, and equipment of $21.2 million and $8.0 million located in the U.S. and Canada, respectively.

(3)

The $1.1 million at July 29, 2012, represents property, plant, and equipment located in the U.S. of $788, located in China of $175, and located in Poland of $99. The $1.1 million at April 29, 2012, represents property, plant, and equipment located in the U.S. of $837, located in China of $183, and located in Poland of $104.

(4)

The $840 and $918 at July 29, 2012 and April 29, 2012, respectively, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments. Property, plant, and equipment associated with corporate are located in the U.S.

(5)	Capital expenditure amounts are stated on the accrual basis. See Consolidated Statement of Cash Flows for capital expenditure amounts on a cash basis.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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