SEGMENT INFORMATION (Tables)

12 Months Ended

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.

- 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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