Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Oct. 02, 2021 | Oct. 22, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000033488 | |
Entity Registrant Name | ESCALADE INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-25 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 2, 2021 | |
Document Transition Report | false | |
Entity File Number | 0-6966 | |
Entity Incorporation, State or Country Code | IN | |
Entity Tax Identification Number | 13-2739290 | |
Entity Address, Address Line One | 817 Maxwell Ave | |
Entity Address, City or Town | Evansville | |
Entity Address, State or Province | IN | |
Entity Address, Postal Zip Code | 47711 | |
City Area Code | 812 | |
Local Phone Number | 467-1358 | |
Title of 12(b) Security | Common Stock, No Par Value | |
Trading Symbol | ESCA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 13,489,332 |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Oct. 02, 2021 | Dec. 26, 2020 | Oct. 03, 2020 |
Current Assets: | |||
Cash and cash equivalents | $ 6,492 | $ 3,505 | $ 6,811 |
Receivables, less allowance of $636; $896; and $798; respectively | 68,849 | 65,280 | 63,750 |
Inventories | 91,755 | 72,488 | 63,738 |
Prepaid expenses | 6,527 | 4,068 | 2,580 |
Prepaid income tax | 57 | ||
TOTAL CURRENT ASSETS | 173,623 | 145,398 | 136,879 |
Property, plant and equipment, net | 24,000 | 18,232 | 16,029 |
Operating lease right-of-use assets | 2,500 | 1,608 | 1,271 |
Intangible assets, net | 21,207 | 22,645 | 17,739 |
Goodwill | 32,695 | 32,695 | 26,749 |
Other assets | 131 | 127 | 49 |
TOTAL ASSETS | 254,156 | 220,705 | 198,716 |
Current Liabilities: | |||
Current portion of long-term debt | 7,143 | ||
Trade accounts payable | 25,071 | 20,947 | 32,102 |
Accrued liabilities | 18,100 | 24,271 | 18,702 |
Income tax payable | 124 | 1,675 | |
Current operating lease liabilities | 990 | 854 | 693 |
TOTAL CURRENT LIABILITIES | 51,428 | 46,072 | 53,172 |
Other Liabilities: | |||
Long-term debt | 51,874 | 30,073 | |
Deferred income tax liability | 4,193 | 4,193 | 3,537 |
Operating lease liabilities | 1,493 | 763 | 591 |
Other liabilities | 448 | 448 | 387 |
TOTAL LIABILITIES | 109,436 | 81,549 | 57,687 |
Stockholders' Equity: | |||
Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding – 13,557,879; 13,919,380; and 14,169,404; shares respectively | 13,558 | 13,919 | 14,169 |
Retained earnings | 131,162 | 125,237 | 126,860 |
TOTAL STOCKHOLDERS' EQUITY | 144,720 | 139,156 | 141,029 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 254,156 | $ 220,705 | $ 198,716 |
Consolidated Condensed Balanc_2
Consolidated Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Oct. 02, 2021 | Dec. 26, 2020 | Oct. 03, 2020 |
Receivables, allowance | $ 636 | $ 896 | $ 798 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 0 | 0 | 0 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 | 30,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 13,557,879 | 13,919,380 | 14,169,404 |
Common stock, shares outstanding (in shares) | 13,557,879 | 13,919,380 | 14,169,404 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | |
Net sales | $ 81,298 | $ 78,069 | $ 240,168 | $ 198,882 |
Costs and Expenses | ||||
Cost of products sold | 62,992 | 54,548 | 179,355 | 141,911 |
Selling, administrative and general expenses | 10,202 | 10,374 | 33,888 | 29,752 |
Amortization | 432 | 332 | 1,438 | 1,108 |
Operating Income | 7,672 | 12,815 | 25,487 | 26,111 |
Other Income (Expense) | ||||
Interest expense | (414) | (44) | (1,035) | (148) |
Other income | 68 | 40 | 124 | 108 |
Income Before Income Taxes | 7,326 | 12,811 | 24,576 | 26,071 |
Provision for Income Taxes | 1,360 | 2,625 | 5,042 | 5,224 |
Net Income | $ 5,966 | $ 10,186 | $ 19,534 | $ 20,847 |
Earnings Per Share Data: | ||||
Basic earnings per share (in dollars per share) | $ 0.44 | $ 0.72 | $ 1.41 | $ 1.48 |
Diluted earnings per share (in dollars per share) | 0.43 | 0.71 | 1.40 | 1.47 |
Dividends declared (in dollars per share) | $ 0.14 | $ 0.140 | $ 0.42 | $ 0.390 |
Consolidated Condensed Statem_2
Consolidated Condensed Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Dec. 28, 2019 | 14,215 | ||
Balances at Dec. 28, 2019 | $ 14,215 | $ 111,955 | $ 126,170 |
Net income | 20,847 | 20,847 | |
Expense of stock options and restricted stock units | 756 | 756 | |
Settlement of restricted stock units (in shares) | 51 | ||
Settlement of restricted stock units | $ 51 | (51) | |
Dividends declared | (5,515) | (5,515) | |
Issuance of restricted stock awards (in shares) | 35 | ||
Issuance of restricted stock awards | $ 35 | (35) | |
Purchase of stock (in shares) | (142) | ||
Purchase of stock | $ (142) | (1,184) | (1,326) |
Stock issued to directors as compensation (in shares) | 10 | ||
Stock issued to directors as compensation | $ 10 | 87 | 97 |
Balances (in shares) at Oct. 03, 2020 | 14,169 | ||
Balances at Oct. 03, 2020 | $ 14,169 | 126,860 | 141,029 |
Balances (in shares) at Jul. 11, 2020 | 14,154 | ||
Balances at Jul. 11, 2020 | $ 14,154 | 118,410 | 132,564 |
Net income | 10,186 | 10,186 | |
Expense of stock options and restricted stock units | 263 | 263 | |
Settlement of restricted stock units (in shares) | 15 | ||
Settlement of restricted stock units | $ 15 | (15) | |
Dividends declared | (1,984) | (1,984) | |
Balances (in shares) at Oct. 03, 2020 | 14,169 | ||
Balances at Oct. 03, 2020 | $ 14,169 | 126,860 | 141,029 |
Balances (in shares) at Dec. 26, 2020 | 13,919 | ||
Balances at Dec. 26, 2020 | $ 13,919 | 125,237 | 139,156 |
Net income | 19,534 | 19,534 | |
Expense of stock options and restricted stock units | 666 | 666 | |
Settlement of restricted stock units (in shares) | 46 | ||
Settlement of restricted stock units | $ 46 | (46) | |
Dividends declared | (5,804) | (5,804) | |
Purchase of stock (in shares) | (423) | ||
Purchase of stock | $ (423) | (8,688) | (9,111) |
Stock issued to directors as compensation (in shares) | 6 | ||
Stock issued to directors as compensation | $ 6 | 129 | 135 |
Exercise of stock options (in shares) | 10 | ||
Exercise of stock options | $ 10 | 134 | 144 |
Balances (in shares) at Oct. 02, 2021 | 13,558 | ||
Balances at Oct. 02, 2021 | $ 13,558 | 131,162 | 144,720 |
Balances (in shares) at Jul. 10, 2021 | 13,779 | ||
Balances at Jul. 10, 2021 | $ 13,779 | 131,354 | 145,133 |
Net income | 5,966 | 5,966 | |
Expense of stock options and restricted stock units | 229 | 229 | |
Dividends declared | (1,917) | (1,917) | |
Purchase of stock (in shares) | (221) | ||
Purchase of stock | $ (221) | (4,470) | (4,691) |
Balances (in shares) at Oct. 02, 2021 | 13,558 | ||
Balances at Oct. 02, 2021 | $ 13,558 | $ 131,162 | $ 144,720 |
Consolidated Condensed Statem_3
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 02, 2021 | Oct. 03, 2020 | |
Operating Activities: | ||
Net income | $ 19,534 | $ 20,847 |
Depreciation and amortization | 3,935 | 3,252 |
Provision for doubtful accounts | (224) | 394 |
Stock-based compensation | 666 | 756 |
Gain on disposal of property and equipment | (27) | (2) |
Adjustments necessary to reconcile net income to net cash used by operating activities | (26,933) | (14,378) |
Net cash provided (used) by operating activities | (3,049) | 10,869 |
Investing Activities: | ||
Purchase of property and equipment | (8,281) | (3,064) |
Proceeds from sale of property and equipment | 43 | 3 |
Payment on note payable related to an acquisition | (135) | |
Net cash used by investing activities | (8,238) | (3,196) |
Financing Activities: | ||
Proceeds from issuance of long-term debt | 192,792 | 8,493 |
Payments on long-term debt | (163,849) | (8,493) |
Proceeds from exercise of stock options | 144 | |
Deferred financing fees | (33) | |
Purchase of stock | (9,111) | (1,326) |
Cash dividends paid | (5,804) | (5,515) |
Director stock compensation | 135 | 97 |
Net cash provided (used) by financing activities | 14,274 | (6,744) |
Net increase in cash and cash equivalents | 2,987 | 929 |
Cash and cash equivalents, beginning of period | 3,505 | 5,882 |
Cash and cash equivalents, end of period | $ 6,492 | $ 6,811 |
Note A - Summary of Significant
Note A - Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note A – Summary of Significant Accounting Policies Presentation of Consolidated Condensed Financial Statements December 26, 2020 10 2020 |
Note B - Seasonal Aspects
Note B - Seasonal Aspects | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Seasonal Aspects [Text Block] | Note B ‑ Seasonal Aspects The results of operations for the three nine October 2, 2021 October 3, 2020 not |
Note C - Inventories
Note C - Inventories | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note C ‑ Inventories In thousands October 2, 2021 December 26, 2020 October 3, 2020 Raw materials $ 10,160 $ 9,121 $ 8,446 Work in progress 3,873 3,538 4,217 Finished goods 77,722 59,829 51,075 $ 91,755 $ 72,488 $ 63,738 |
Note D - Fair Values of Financi
Note D - Fair Values of Financial Instruments | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note D – Fair Values of Financial Instruments The following methods were used to estimate the fair value of all financial instruments recognized in the accompanying balance sheets at amounts other than fair values. Cash and Cash Equivalents Fair values of cash and cash equivalents approximate cost due to the short period of time to maturity. Long-term Debt Fair values of long-term debt is estimated based on borrowing rates currently available to the Company for bank loans with similar terms and maturities and determined through the use of a discounted cash flow model. The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall in accordance with FASB ASC 825 October 2, 2021, December 26, 2020 October 3, 2020. Fair Value Measurements Using October 2, 2021 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 6,492 $ 6,492 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 51,874 $ -- $ 51,874 $ -- Fair Value Measurements Using December 26, 2020 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 3,505 $ 3,505 $ -- $ -- Financial liabilities Long-term debt $ 30,073 $ -- $ 30,073 $ -- Fair Value Measurements Using October 3, 2020 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 6,811 $ 6,811 $ -- $ -- |
Note E - Stock Compensation
Note E - Stock Compensation | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note E – Stock Compensation The fair value of stock-based compensation is recognized in accordance with the provisions of FASB ASC 718, Stock Compensation During the nine October 2, 2021 2017 nine October 2, 2021, two one one one two no 2021 three one third one one third two one third three For the three nine October 2, 2021, October 2, 2021 October 3, 2020, |
Note F - Segment Information
Note F - Segment Information | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note F ‑ Segment Information For the Three Months Ended October 2, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 81,298 $ -- $ 81,298 Operating income (loss) 8,087 (415 ) 7,672 Net income 5,614 352 5,966 As of and for the Nine Months Ended October 2, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 240,168 $ -- $ 240,168 Operating income (loss) 27,049 (1,562 ) 25,487 Net income 18,956 578 19,534 Total assets $ 246,777 $ 7,379 $ 254,156 For the Three Months Ended October 3, 2020 In thousands Sporting Goods Corp. Total Revenues from external customers $ 78,069 $ -- $ 78,069 Operating income (loss) 13,177 (362 ) 12,815 Net income 9,554 632 10,186 As of and for the Nine Months Ended October 3, 2020 In thousands Sporting Goods Corp. Total Revenues from external customers $ 198,882 $ -- $ 198,882 Operating income (loss) 27,640 (1,529 ) 26,111 Net income 20,017 830 20,847 Total assets $ 190,309 $ 8,407 $ 198,716 |
Note G - Dividend Payment
Note G - Dividend Payment | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Dividend Payment Terms [Text Block] | Note G – Dividend Payment On September 14, 2021, September 7, 2021. On June 8, 2021, June 1, 2021. On March 24, 2021, March 17, 2021 ( March 19, 2021). |
Note H - Earnings Per Share
Note H - Earnings Per Share | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note H ‑ Earnings Per Share The shares used in computation of the Company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended In thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Weighted average common shares outstanding 13,706 14,128 13,821 14,117 Dilutive effect of stock options and restricted stock units 102 137 102 105 Weighted average common shares outstanding, assuming dilution 13,808 14,265 13,923 14,222 Stock options that are anti-dilutive as to earnings per share and unvested restricted stock units which have a market condition for vesting that has not 2021 2020 |
Note I - New Accounting Standar
Note I - New Accounting Standards and Changes in Accounting Principles | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note I – New Accounting Standards and Changes in Accounting Principles With the exception of that discussed below, there have been no three nine October 2, 2021, 10 December 26, 2020, In December 2019, 2019 12, Income Taxes (Topic 740 740, Accounting for Income Taxes 740” 740 December 27, 2020 not |
Note J - Revenue from Contracts
Note J - Revenue from Contracts with Customers | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note J – Revenue from Contracts with Customers Revenue Recognition Gross-to-net sales adjustments one three Returns Warranties Customer Allowances Disaggregation of Revenue Three Months Ended Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Gross Sales by Channel: Mass Merchants $ 41,792 $ 36,234 $ 93,298 $ 77,418 Specialty Dealers 19,170 21,741 73,347 57,666 E-commerce 25,116 25,172 86,053 78,242 International 2,259 2,637 9,182 6,129 Other 883 598 2,469 1,669 Total Gross Sales 89,220 86,382 264,349 221,124 Less: Gross-to-Net Sales Adjustments Returns 1,283 2,117 5,531 5,538 Warranties 590 376 1,703 1,152 Customer Allowances 6,049 5,820 16,947 15,552 Total Gross-to-Net Sales Adjustments 7,922 8,313 24,181 22,242 Total Net Sales $ 81,298 $ 78,069 $ 240,168 $ 198,882 |
Note K - Leases
Note K - Leases | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | Note K – Leases We have operating leases for office, manufacturing and distribution facilities as well as for certain equipment. Our commenced leases have remaining lease terms of 1 year to 6 October 2, 2021, not We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current operating lease liabilities and operating lease liabilities on our consolidated balance sheet. The Company has elected an accounting policy to not one not ROU assets and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. When the implicit rate of the lease is not may Three Months Ended Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Lease Expense Operating Lease Cost $ 433 $ 197 $ 1,151 $ 610 Short-term Lease Cost 330 137 1,361 411 Variable Lease Cost 101 52 304 169 Total Operating Lease Cost $ 864 386 $ 2,816 $ 1,190 Operating Lease – Operating Cash Flows $ 434 $ 182 $ 1,050 $ 557 New ROU Assets – Operating Leases $ 1,189 $ 56 $ 2,329 $ 744 Other information about lease amounts recognized in our consolidated financial statements is summarized as follows: Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 Weighted Average Remaining Lease Term – Operating Leases (years) 3.93 2.40 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % Future minimum lease payments under non-cancellable leases as of October 2, 2021 All Amounts in Thousands Year 1 $ 325 Year 2 884 Year 3 405 Year 4 336 Year 5 312 Thereafter 486 Total future minimum lease payments 2,748 Less imputed interest (265 ) Total $ 2,483 Reported as of October 2, 2021 Current operating lease liabilities 990 Long-term operating lease liabilities 1,493 Total $ 2,483 As of October 2, 2021, not not not not |
Note L - Commitments and Contin
Note L - Commitments and Contingencies | 9 Months Ended |
Oct. 02, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note L – Commitments and Contingencies The Company is involved in litigation arising in the normal course of business. The Company does not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 02, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Presentation of Consolidated Condensed Financial Statements December 26, 2020 10 2020 |
Note C - Inventories (Tables)
Note C - Inventories (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | In thousands October 2, 2021 December 26, 2020 October 3, 2020 Raw materials $ 10,160 $ 9,121 $ 8,446 Work in progress 3,873 3,538 4,217 Finished goods 77,722 59,829 51,075 $ 91,755 $ 72,488 $ 63,738 |
Note D - Fair Values of Finan_2
Note D - Fair Values of Financial Instruments (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements Using October 2, 2021 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 6,492 $ 6,492 $ -- $ -- Financial liabilities Current portion of long-term debt $ 7,143 $ -- $ 7,143 $ -- Long-term debt $ 51,874 $ -- $ 51,874 $ -- Fair Value Measurements Using December 26, 2020 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 3,505 $ 3,505 $ -- $ -- Financial liabilities Long-term debt $ 30,073 $ -- $ 30,073 $ -- Fair Value Measurements Using October 3, 2020 In thousands Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets Cash and cash equivalents $ 6,811 $ 6,811 $ -- $ -- |
Note F - Segment Information (T
Note F - Segment Information (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | For the Three Months Ended October 2, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 81,298 $ -- $ 81,298 Operating income (loss) 8,087 (415 ) 7,672 Net income 5,614 352 5,966 As of and for the Nine Months Ended October 2, 2021 In thousands Sporting Goods Corp. Total Revenues from external customers $ 240,168 $ -- $ 240,168 Operating income (loss) 27,049 (1,562 ) 25,487 Net income 18,956 578 19,534 Total assets $ 246,777 $ 7,379 $ 254,156 For the Three Months Ended October 3, 2020 In thousands Sporting Goods Corp. Total Revenues from external customers $ 78,069 $ -- $ 78,069 Operating income (loss) 13,177 (362 ) 12,815 Net income 9,554 632 10,186 As of and for the Nine Months Ended October 3, 2020 In thousands Sporting Goods Corp. Total Revenues from external customers $ 198,882 $ -- $ 198,882 Operating income (loss) 27,640 (1,529 ) 26,111 Net income 20,017 830 20,847 Total assets $ 190,309 $ 8,407 $ 198,716 |
Note H - Earnings Per Share (Ta
Note H - Earnings Per Share (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months Ended Nine Months Ended In thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Weighted average common shares outstanding 13,706 14,128 13,821 14,117 Dilutive effect of stock options and restricted stock units 102 137 102 105 Weighted average common shares outstanding, assuming dilution 13,808 14,265 13,923 14,222 |
Note J - Revenue from Contrac_2
Note J - Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Gross Sales by Channel: Mass Merchants $ 41,792 $ 36,234 $ 93,298 $ 77,418 Specialty Dealers 19,170 21,741 73,347 57,666 E-commerce 25,116 25,172 86,053 78,242 International 2,259 2,637 9,182 6,129 Other 883 598 2,469 1,669 Total Gross Sales 89,220 86,382 264,349 221,124 Less: Gross-to-Net Sales Adjustments Returns 1,283 2,117 5,531 5,538 Warranties 590 376 1,703 1,152 Customer Allowances 6,049 5,820 16,947 15,552 Total Gross-to-Net Sales Adjustments 7,922 8,313 24,181 22,242 Total Net Sales $ 81,298 $ 78,069 $ 240,168 $ 198,882 |
Note K - Leases (Tables)
Note K - Leases (Tables) | 9 Months Ended |
Oct. 02, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 October 2, 2021 October 3, 2020 Lease Expense Operating Lease Cost $ 433 $ 197 $ 1,151 $ 610 Short-term Lease Cost 330 137 1,361 411 Variable Lease Cost 101 52 304 169 Total Operating Lease Cost $ 864 386 $ 2,816 $ 1,190 Operating Lease – Operating Cash Flows $ 434 $ 182 $ 1,050 $ 557 New ROU Assets – Operating Leases $ 1,189 $ 56 $ 2,329 $ 744 Nine Months Ended All Amounts in Thousands October 2, 2021 October 3, 2020 Weighted Average Remaining Lease Term – Operating Leases (years) 3.93 2.40 Weighted Average Discount Rate – Operating Leases 5.00 % 5.00 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | All Amounts in Thousands Year 1 $ 325 Year 2 884 Year 3 405 Year 4 336 Year 5 312 Thereafter 486 Total future minimum lease payments 2,748 Less imputed interest (265 ) Total $ 2,483 Reported as of October 2, 2021 Current operating lease liabilities 990 Long-term operating lease liabilities 1,493 Total $ 2,483 |
Note C - Inventories - Inventor
Note C - Inventories - Inventories (Details) - USD ($) $ in Thousands | Oct. 02, 2021 | Dec. 26, 2020 | Oct. 03, 2020 |
Raw materials | $ 10,160 | $ 9,121 | $ 8,446 |
Work in progress | 3,873 | 3,538 | 4,217 |
Finished goods | 77,722 | 59,829 | 51,075 |
Inventory, Net, Total | $ 91,755 | $ 72,488 | $ 63,738 |
Note D - Fair Values of Finan_3
Note D - Fair Values of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Oct. 02, 2021 | Dec. 26, 2020 | Oct. 03, 2020 |
Cash and cash equivalents | $ 6,492 | $ 3,505 | $ 6,811 |
Current portion of long-term debt | 7,143 | ||
Long-term debt | 51,874 | 30,073 | |
Fair Value, Inputs, Level 1 [Member] | |||
Cash and cash equivalents | 6,492 | 3,505 | $ 6,811 |
Fair Value, Inputs, Level 2 [Member] | |||
Current portion of long-term debt | 7,143 | ||
Long-term debt | $ 51,874 | $ 30,073 |
Note E - Stock Compensation (De
Note E - Stock Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | |
Share-based Payment Arrangement, Expense | $ 229 | $ 263 | $ 666 | $ 756 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 900 | $ 1,200 | $ 900 | $ 1,200 |
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 37,283 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 13,332 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||
Incentive Plan 2017 [Member] | ||||
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture (in shares) | 5,683 |
Note F - Segment Information -
Note F - Segment Information - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | Dec. 26, 2020 | |
Revenues from external customers | $ 81,298 | $ 78,069 | $ 240,168 | $ 198,882 | |
Operating income (loss) | 7,672 | 12,815 | 25,487 | 26,111 | |
Net income | 5,966 | 10,186 | 19,534 | 20,847 | |
Total assets | 254,156 | 198,716 | 254,156 | 198,716 | $ 220,705 |
Sporting Goods [Member] | |||||
Revenues from external customers | 81,298 | 78,069 | 240,168 | 198,882 | |
Operating income (loss) | 8,087 | 13,177 | 27,049 | 27,640 | |
Net income | 5,614 | 9,554 | 18,956 | 20,017 | |
Total assets | 246,777 | 190,309 | 246,777 | 190,309 | |
Corporate Segment [Member] | |||||
Operating income (loss) | (415) | (362) | (1,562) | (1,529) | |
Net income | 352 | 632 | 578 | 830 | |
Total assets | $ 7,379 | $ 8,407 | $ 7,379 | $ 8,407 |
Note G - Dividend Payment (Deta
Note G - Dividend Payment (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Sep. 14, 2021 | Jun. 08, 2021 | Mar. 24, 2021 | Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 |
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share) | $ 0.14 | $ 0.14 | $ 0.14 | ||||
Dividends, Common Stock, Cash | $ 1,900 | $ 1,900 | $ 1,900 | $ 1,917 | $ 1,984 | $ 5,804 | $ 5,515 |
Note H - Earnings Per Share (De
Note H - Earnings Per Share (Details Textual) - shares | 9 Months Ended | |
Oct. 02, 2021 | Oct. 03, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 11,900 | 57,569 |
Note H - Earnings Per Share - E
Note H - Earnings Per Share - Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | |
Weighted average common shares outstanding (in shares) | 13,706 | 14,128 | 13,821 | 14,117 |
Dilutive effect of stock options and restricted stock units (in shares) | 102 | 137 | 102 | 105 |
Weighted average common shares outstanding, assuming dilution (in shares) | 13,808 | 14,265 | 13,923 | 14,222 |
Note J - Revenue from Contrac_3
Note J - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | |
Gross Sales | $ 89,220 | $ 86,382 | $ 264,349 | $ 221,124 |
Returns | 1,283 | 2,117 | 5,531 | 5,538 |
Warranties | 590 | 376 | 1,703 | 1,152 |
Customer Allowances | 6,049 | 5,820 | 16,947 | 15,552 |
Total Gross-to-Net Sales Adjustments | 7,922 | 8,313 | 24,181 | 22,242 |
Total Net Sales | 81,298 | 78,069 | 240,168 | 198,882 |
Mass Merchants [Member] | ||||
Gross Sales | 41,792 | 36,234 | 93,298 | 77,418 |
Specialty Dealers [Member] | ||||
Gross Sales | 19,170 | 21,741 | 73,347 | 57,666 |
E-commerce [Member] | ||||
Gross Sales | 25,116 | 25,172 | 86,053 | 78,242 |
International [Member] | ||||
Gross Sales | 2,259 | 2,637 | 9,182 | 6,129 |
Other Channels [Member] | ||||
Gross Sales | $ 883 | $ 598 | $ 2,469 | $ 1,669 |
Note K - Leases (Details Textua
Note K - Leases (Details Textual) $ in Millions | Oct. 02, 2021USD ($) |
Lessee, Operating Lease, Lease Not yet Commenced, Minimum Lease Payments | $ 9.9 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year |
Note K - Leases - Lease Cost (D
Note K - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 02, 2021 | Oct. 03, 2020 | Oct. 02, 2021 | Oct. 03, 2020 | |
Operating Lease Cost | $ 433 | $ 197 | $ 1,151 | $ 610 |
Short-term Lease Cost | 330 | 137 | 1,361 | 411 |
Variable Lease Cost | 101 | 52 | 304 | 169 |
Total Operating Lease Cost | 864 | 386 | 2,816 | 1,190 |
Operating Lease – Operating Cash Flows | 434 | 182 | 1,050 | 557 |
New ROU Assets – Operating Leases | $ 1,189 | $ 56 | $ 2,329 | $ 744 |
Weighted Average Remaining Lease Term – Operating Leases (years) (Year) | 3 years 11 months 4 days | 2 years 4 months 24 days | 3 years 11 months 4 days | 2 years 4 months 24 days |
Weighted Average Discount Rate – Operating Leases | 5.00% | 5.00% | 5.00% | 5.00% |
Note K - Leases - Future Minimu
Note K - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Oct. 02, 2021 | Dec. 26, 2020 | Oct. 03, 2020 |
Year 1 | $ 325 | ||
Year 2 | 884 | ||
Year 3 | 405 | ||
Year 4 | 336 | ||
Year 5 | 312 | ||
Thereafter | 486 | ||
Total future minimum lease payments | 2,748 | ||
Less imputed interest | (265) | ||
Total | 2,483 | ||
Current operating lease liabilities | 990 | $ 854 | $ 693 |
Long-term operating lease liabilities | 1,493 | $ 763 | $ 591 |
Total | $ 2,483 |