Segment Information (Tables)

3 Months Ended

Jul. 28, 2013

Schedule of Operating Segments Information

Financial information for the company’s operating segments follows:

	Three months ended
(dollars in thousands)	July 28, 2013			July 29, 2012
Net sales:
Mattress Fabrics	$	38,164		$	37,964
Upholstery Fabrics		31,977			31,220
	$	70,141		$	69,184


Gross profit:
Mattress Fabrics	$	7,392		$	7,622
Upholstery Fabrics		5,682			5,498

	$	13,074		$	13,120


Selling, general, and administrative expenses:
Mattress Fabrics	$	2,374		$	2,391
Upholstery Fabrics		3,266			3,340
Total segment selling, general, and
administrative expenses		5,640			5,731
Unallocated corporate expenses		1,460			1,910
	$	7,100		$	7,641

Income from operations:
Mattress Fabrics	$	5,018		$	5,230
Upholstery Fabrics		2,416			2,159
Total segment income from operations		7,434			7,389
Unallocated corporate expenses		(1,460	)		(1,910	)
Total income from operations		5,974			5,479
Interest expense		(140	)		(190	)
Interest income		92			127
Other expense		(391	)		(44	)
Income before income taxes	$	5,535		$	5,372

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

(dollars in thousands)	July 28, 2013		April 28, 2013
Segment assets:
Mattress Fabrics
Current assets (1)	$	35,718	$	33,323
Non-compete agreement		1,061		185
Customer relationships		855		-
Goodwill		11,462		11,462
Property, plant and equipment (2)		28,552		28,578
Total mattress fabrics assets		77,648		73,548
Upholstery Fabrics
Current assets (1)		30,545		28,487
Property, plant and equipment (3)		1,549		1,230
Total upholstery fabrics assets		32,094		29,717
Total segment assets		109,742		103,265
Non-segment assets:
Cash and cash equivalents		21,423		23,530
Short-term investments		6,174		5,286
Deferred income taxes		8,398		8,462
Income taxes receivable		292		318
Other current assets		3,408		2,093
Property, plant and equipment (4)		707		786
Other assets		957		966
Total assets	$	151,101	$	144,706

	Three months ended
(dollars in thousands)	July 28, 2013		July 29, 2012
Capital expenditures (5):
Mattress Fabrics	$	263	$	969
Upholstery Fabrics		390		8
Unallocated Corporate		5		14
Total capital expenditures	$	658	$	991
Depreciation expense:
Mattress Fabrics	$	1,149	$	1,092
Upholstery Fabrics		156		162
Total depreciation expense	$	1,305	$	1,254

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

(2)

The $28.6 million at July 28, 2013, represents property, plant, and equipment of $20.7 million and $7.9 million located in the U.S. and Canada, respectively. The $28.6 million at April 28, 2013, represents property, plant, and equipment of $20.4 million and $8.2 million located in the U.S. and Canada, respectively.

(3)

The $1.5 million at July 28, 2013, represents property, plant, and equipment located in the U.S. of $1.1, located in China of $371, and located in Poland of $53. 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.

(4)

The $707 and $786 at July 28, 2013 and April 28, 2013, 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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