SEGMENT INFORMATION (Tables)

12 Months Ended

May. 03, 2015

Summary of Segment Information by Geographic Area

International sales accounted for 22%, 19% and 23% of net sales in 2015, 2014, and 2013, respectively, and are summarized by geographic area as follows:

(dollars in thousands)	2015		2014		2013
north america (excluding USA) (1)	$	30,758		15,556		11,900
far east and asia (2)		31,855		33,487		43,907
all other areas		4,720		6,041		5,806
	$	67,333		55,084		61,613

(1)	Of this amount, $24.1 million, $9.3 million, and $3.2 million are attributable to shipments to Mexico in fiscal 2015, 2014, and 2013, respectively.

(2)	Of this amount $26.5 million, $32.2 million, and $42.1 million are attributable to shipment to China in fiscal 2015, 2014, and 2013, respectively.

Schedule of Operating Segments Information

Statements of operations for the company’s operating segments are as follows:

(dollars in thousands)	2015			2014			2013
net sales:
upholstery fabrics	$	130,427			126,457			114,800
mattress fabrics		179,739			160,705			154,014
	$	310,166			287,162			268,814
gross profit:
upholstery fabrics	$	22,690			21,429			19,984
mattress fabrics		32,877			27,477			29,546
	$	55,567			48,906			49,530
(dollars in thousands)	2015			2014			2013
selling, general, and administrative expenses:
upholstery fabrics	$	14,562			13,393			13,031
mattress fabrics		11,206			9,962			9,646
unallocated corporate		7,010			5,302			5,768
total selling, general, and administrative
expenses	$	32,778			28,657			28,445
Income from operations:
upholstery fabrics	$	8,128			8,036			6,953
mattress fabrics		21,671			17,515			19,900
total segment income from operations		29,799			25,551			26,853
unallocated corporate expenses		(7,010	)		(5,302	)		(5,768	)
total income from operations		22,789			20,249			21,085
interest expense		(64	)		(427	)		(632	)
interest income		622			482			419
other expense		(391	)		(1,261	)		(583	)
income before income taxes	$	22,956			19,043			20,289

One customer within the upholstery fabrics segment represented 13% of consolidated net sales in fiscal years 2015, 2014, and 2013, respectively. Two customers within the mattress fabrics segment represented 20%, 21%, and 22% of consolidated net sales in fiscal 2015, 2014, and 2013, respectively. No customers within the upholstery fabrics segment accounted for 10% or more of net accounts receivable as of May 3, 2015 and April 27, 2014, respectively. One customer within the mattress fabrics segment accounted for 10% and 11% of net accounts receivable balance as of May 3, 2015 and April 27, 2014, respectively.

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

(dollars in thousands)	2015			2014			2013
segment assets
mattress fabrics
current assets (1)	$	41,328			36,229			33,323
non-compete agreements, net		979			1,041			185
customer relationships		766			817			-
goodwill		11,462			11,462			11,462
property, plant, and equipment		33,773	(2)		29,040	(3)		28,578	(4)
total mattress fabrics assets	$	88,308			78,589			73,548

upholstery fabrics
current assets (2)	$	29,905			31,854			28,487
property, plant, and equipment		1,467	(5)		1,573	(6)		1,230	(7)
total upholstery fabrics assets	$	31,372			33,427			29,717

total segment assets		119,680			112,016			103,265

non-segment assets
cash and cash equivalents		29,725			29,303			23,530
short-term investments		10,004			6,294			5,286
income taxes receivable		229			121			318
deferred income taxes		5,237			8,270			8,462
other current assets		2,440			2,344			2,093
property, plant, and equipment		838	(8)		763	(8)		786	(8)
long-term investments		2,415			765			-
other assets		800			1,059			966
total assets	$	171,368			160,935			144,706

capital expenditures (9):
mattress fabrics	$	10,454			4,380			3,805
upholstery fabrics		468			827			425
unallocated corporate		252			103			227
	$	11,174			5,310			4,457

depreciation expense
mattress fabrics	$	5,034			4,694			4,487
upholstery fabrics		739			618			628
total segment depreciation expense	$	5,773			5,312			5,115

(1)	Current assets represent accounts receivable and inventory.

(2)	The $33.8 million at May 3, 2015, represents property, plant, and equipment located in the U.S. of $23.8 million and located in Canada of $10.0 million.

(3)	The $29.0 million at April 27, 2014, represents property, plant, and equipment located in the U.S. of $20.6 million and located in Canada of $8.4 million.

(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 $1.5 million at May 3, 2015, represents property, plant, and equipment located in the U.S. of $848 and located in China of $619.

(6)	The $1.6 million at April 27, 2014, represents property, plant, and equipment located in the U.S. of $957, located in China of $572, and located in Poland of $44.

(7)	The $1.2 million at April 28, 2013, represents property, plant, and equipment located in the U.S. of $908, China of $265, and located in Poland of $57.

(8)	The $838, $763, and $786 balance at May 3, 2015, April 27, 2014, and April 28, 2013, represent property, plant, and equipment associated with unallocated corporate departments and corporate departments shared by both the mattress and upholstery fabric segments.

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