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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Apr. 28, 2013
Summary of Segment Information by Geographic Area | International sales accounted for 23%, 21% and 22% of net sales in 2013, 2012, and 2011, respectively, and are summarized by geographic area as follows:
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
north america (excluding USA) |  | $ | 11,900 |  |  |  | 10,417 |  |  |  | 10,505 |
far east and asia |  |  | 43,907 |  |  |  | 38,279 |  |  |  | 36,587 |
all other areas |  |  | 5,806 |  |  |  | 5,353 |  |  |  | 1,502 |
|  | $ | 61,613 |  |  |  | 54,049 |  |  |  | 48,594 |
Schedule of Operating Segments Information | Statements of operations for the company’s operating segments are as follows:
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
net sales: |  |  |  |  |  |  |  |  |  |
upholstery fabrics |  | $ | 114,800 |  |  |  | 108,924 |  |  |  | 94,375 |  |
mattress fabrics |  |  | 154,014 |  |  |  | 145,519 |  |  |  | 122,431 |  |
|  | $ | 268,814 |  |  |  | 254,443 |  |  |  | 216,806 |  |
gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |
upholstery fabrics |  | $ | 19,984 |  |  |  | 14,984 |  |  |  | 13,592 |  |
mattress fabrics |  |  | 29,546 |  |  |  | 24,825 |  |  |  | 23,248 |  |
total segment gross profit |  |  | 49,530 |  |  |  | 39,809 |  |  |  | 36,840 |  |
other non-recurring charges |  |  | - |  |  |  | (77 | ) | (1) |  | - |  |
|  | $ | 49,530 |  |  |  | 39,732 |  |  |  | 36,840 |  |
(dollars in thousands) |  | 2013 |  |  | 2012 |  |  | 2011 |
selling, general, and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
upholstery fabrics |  | $ | 13,031 |  |  |  | 11,453 |  |  |  | 9,233 |  |
mattress fabrics |  |  | 9,646 |  |  |  | 9,061 |  |  |  | 7,875 |  |
unallocated corporate |  |  | 5,768 |  |  |  | 4,512 |  |  |  | 3,961 |  |
total selling, general, and administrative |  |  |  |  |  |  |  |  |  |  |  |  |
expenses |  | $ | 28,445 |  |  |  | 25,026 |  |  |  | 21,069 |  |
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |  |
upholstery fabrics |  | $ | 6,953 |  |  |  | 3,531 |  |  |  | 4,359 |  |
mattress fabrics |  |  | 19,900 |  |  |  | 15,764 |  |  |  | 15,373 |  |
total segment income from operations |  |  | 26,853 |  |  |  | 19,295 |  |  |  | 19,732 |  |
unallocated corporate expenses |  |  | (5,768 | ) |  |  | (4,512 | ) |  |  | (3,961 | ) |
other non-recurring charges |  |  | - |  |  |  | (77 | ) | (1) |  | (28 | ) | (2)
total income from operations |  |  | 21,085 |  |  |  | 14,706 |  |  |  | 15,743 |  |
interest expense |  |  | (632 | ) |  |  | (780 | ) |  |  | (881 | ) |
interest income |  |  | 419 |  |  |  | 508 |  |  |  | 240 |  |
other expense |  |  | (583 | ) |  |  | (236 | ) |  |  | (40 | ) |
income before income taxes |  | $ | 20,289 |  |  |  | 14,198 |  |  |  | 15,062 |  |
(1) | The $77 represents employee termination benefits associated with our Anderson, SC plant facility. This charge was recorded in cost of sales in the 2012 Consolidated Statement of Net Income and relates to the upholstery fabrics segment.
(2) | The $28 represents an impairment charge related to equipment that was classified as held for sale, a charge of $24 for lease termination and other exit costs, offset by a credit of $14 for employee termination benefits, and a credit of $10 for sales proceeds received on equipment with no carrying value. This charge was recorded in restructuring expense in the 2011 Consolidated Statement of Net Income and relates to the upholstery fabrics segment.
Balance sheet information for the company’s operating segments follow:
(dollars in thousands) |  | 2013 |  |  |  |  |  | 2012 |  |  |  |  |  | 2011 |  |  |  |
segment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mattress fabrics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
current assets (3) |  | $ | 33,323 |  |  |  |  |  |  | 29,909 |  |  |  |  |  |  | 25,455 |  |  |  |
assets held for sale |  |  | - |  |  |  |  |  |  | 15 |  |  |  |  |  |  | 15 |  |  |  |
non-compete agreements, net |  |  | 185 |  |  |  |  |  |  | 333 |  |  |  |  |  |  | 480 |  |  |  |
goodwill |  |  | 11,462 |  |  |  |  |  |  | 11,462 |  |  |  |  |  |  | 11,462 |  |  |  |
property, plant, and equipment |  |  | 28,578 |  | (4) |  |  |  |  | 29,237 |  | (5) |  |  |  |  | 28,581 |  | (6) |  |
total mattress fabrics assets |  | $ | 73,548 |  |  |  |  |  |  | 70,956 |  |  |  |  |  |  | 65,993 |  |  |  |
upholstery fabrics |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
current assets (5) |  | $ | 28,487 |  |  |  |  |  |  | 31,519 |  |  |  |  |  |  | 23,477 |  |  |  |
assets held for sale |  |  | - |  |  |  |  |  |  | - |  |  |  |  |  |  | 60 |  |  |  |
property, plant, and equipment |  |  | 1,230 |  | (7) |  |  |  |  | 1,124 |  | (8) |  |  |  |  | 967 |  | (9) |  |
total upholstery fabrics assets |  | $ | 29,717 |  |  |  |  |  |  | 32,643 |  |  |  |  |  |  | 24,504 |  |  |  |
total segment assets |  |  | 103,265 |  |  |  |  |  |  | 103,599 |  |  |  |  |  |  | 90,497 |  |  |  |
non-segment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
cash and cash equivalents |  |  | 23,530 |  |  |  |  |  |  | 25,023 |  |  |  |  |  |  | 23,181 |  |  |  |
short-term investments |  |  | 5,286 |  |  |  |  |  |  | 5,941 |  |  |  |  |  |  | 7,699 |  |  |  |
income taxes receivable |  |  | 318 |  |  |  |  |  |  | - |  |  |  |  |  |  | 79 |  |  |  |
deferred income taxes |  |  | 8,462 |  |  |  |  |  |  | 5,672 |  |  |  |  |  |  | 3,899 |  |  |  |
other current assets |  |  | 2,093 |  |  |  |  |  |  | 1,989 |  |  |  |  |  |  | 2,376 |  |  |  |
property, plant, and equipment |  |  | 786 |  | (10) |  |  |  |  | 918 |  | (10) |  |  |  |  | 748 |  | (10) |  |
other assets |  |  | 966 |  |  |  |  |  |  | 1,574 |  |  |  |  |  |  | 1,572 |  |  |  |
total assets |  | $ | 144,706 |  |  |  |  |  |  | 144,716 |  |  |  |  |  |  | 130,051 |  |  |  |
capital expenditures (11): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 3,805 |  |  |  |  |  |  | 4,875 |  |  |  |  |  |  | 5,714 |  |  |  |
upholstery fabrics |  |  | 425 |  |  |  |  |  |  | 512 |  |  |  |  |  |  | 311 |  |  |  |
unallocated corporate |  |  | 227 |  |  |  |  |  |  | 532 |  |  |  |  |  |  | 277 |  |  |  |
|  | $ | 4,457 |  |  |  |  |  |  | 5,919 |  |  |  |  |  |  | 6,302 |  |  |  |
depreciation expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mattress fabrics |  | $ | 4,487 |  |  |  |  |  |  | 4,275 |  |  |  |  |  |  | 3,820 |  |  |  |
upholstery fabrics |  |  | 628 |  |  |  |  |  |  | 590 |  |  |  |  |  |  | 552 |  |  |  |
total segment depreciation expense |  | $ | 5,115 |  |  |  |  |  |  | 4,865 |  |  |  |  |  |  | 4,372 |  |  |  |
(3) | Current assets represent accounts receivable and inventory.
(4) | The $28.6 million at April 28, 2013 represents property, plant, and equipment located in the U.S. of $20.4 million and located in Canada of $8.2 million.
(5) | The $29.2 million at April 29, 2012, represents property, plant, and equipment located in the U.S. of $21.2 million and located in Canada of $8.0 million.
(6) | The $28.6 million at May 1, 2011, represents property, plant, and equipment located in the U.S. of $20.0 million and located in Canada of $8.6 million.
(7) | The $1.2 million at April 28, 2013, represents property, plant, and equipment located in the U.S. of $908, located in China of $265, and located in Poland of $57.
(8) | 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.
(9) | The $967 at May 1, 2011 represents property, plant, and equipment located in the U.S. of $727, China of $184, and located in Poland of $56.
(10) | The $786, $918 and $748 balance at April 28, 2013, April 29, 2012 and May 1, 2011, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments.
(11) | Capital expenditure amounts are stated on an accrual basis. See Consolidated Statement of Cash Flows for capital expenditure amounts on a cash basis.

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