$CRWS
CROWN CRAFTS INC

2016 Q2 Form 10-K Financial Statement

#000143774916033565 Filed on June 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q1 2015
Revenue $25.10M $26.10M $85.98M
YoY Change 40.55% 8.75% 5.76%
Cost Of Revenue $18.00M $19.30M $62.43M
YoY Change 37.65% 9.04% 6.24%
Gross Profit $7.100M $6.800M $23.55M
YoY Change 48.5% 6.25% 4.51%
Gross Profit Margin 28.29% 26.05% 27.39%
Selling, General & Admin $3.300M $3.100M $12.20M
YoY Change 1.2% 14.81% 5.17%
% of Gross Profit 46.48% 45.59% 51.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $260.0K $260.0K $1.050M
YoY Change 0.0% -3.7% -0.94%
% of Gross Profit 3.66% 3.82% 4.46%
Operating Expenses $3.500M $3.300M $13.00M
YoY Change 7.33% 17.86% 6.56%
Operating Profit $3.600M $3.500M $9.220M
YoY Change 136.84% -2.78% -1.68%
Interest Expense $0.00 -$100.0K $37.00K
YoY Change -100.0% -24.49%
% of Operating Profit 0.0% -2.86% 0.4%
Other Income/Expense, Net $0.00 $0.00 $7.000K
YoY Change -100.0% -79.41%
Pretax Income $3.600M $3.500M $9.160M
YoY Change 134.99% 6.06% -1.99%
Income Tax $1.400M $1.300M $3.442M
% Of Pretax Income 38.89% 37.14% 37.58%
Net Earnings $2.200M $2.100M $5.718M
YoY Change 137.32% 5.0% -0.92%
Net Earnings / Revenue 8.76% 8.05% 6.65%
Basic Earnings Per Share $0.57
Diluted Earnings Per Share $220.0K $207.9K $0.57
COMMON SHARES
Basic Shares Outstanding 10.06M 10.05M
Diluted Shares Outstanding 10.08M

Balance Sheet

Concept 2016 Q2 2015 Q1 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.600M $1.800M $1.800M
YoY Change -7.32% 200.0% 200.0%
Cash & Equivalents $7.574M $1.807M $1.800M
Short-Term Investments
Other Short-Term Assets $2.600M $2.900M $2.900M
YoY Change -3.7% 31.82% 31.82%
Inventory $14.79M $15.47M $15.50M
Prepaid Expenses $1.689M $1.906M
Receivables $20.80M $22.40M $21.60M
Other Receivables $671.0K $807.0K $800.0K
Total Short-Term Assets $45.73M $42.52M $42.50M
YoY Change 0.7% 11.69% 11.55%
LONG-TERM ASSETS
Property, Plant & Equipment $433.0K $528.0K $500.0K
YoY Change -14.26% -9.9% -16.67%
Goodwill $1.126M $1.126M
YoY Change 0.0% 0.0%
Intangibles $3.882M $4.507M
YoY Change -12.72% -14.12%
Long-Term Investments
YoY Change
Other Assets $193.0K $133.0K $1.300M
YoY Change 44.03% 72.73% 8.33%
Total Long-Term Assets $6.683M $7.427M $7.400M
YoY Change -8.3% -8.83% -8.64%
TOTAL ASSETS
Total Short-Term Assets $45.73M $42.52M $42.50M
Total Long-Term Assets $6.683M $7.427M $7.400M
Total Assets $52.42M $49.95M $49.90M
YoY Change -0.54% 8.07% 8.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.640M $4.472M $4.500M
YoY Change -37.8% -11.73% -11.76%
Accrued Expenses $3.400M $4.100M $4.100M
YoY Change -17.07% 10.81% 10.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.19M $10.37M $10.40M
YoY Change -5.48% 0.74% 0.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $200.0K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $12.19M $10.37M $10.40M
Total Long-Term Liabilities $200.0K $0.00 $0.00
Total Liabilities $12.40M $10.40M $10.40M
YoY Change -3.88% 0.97% 0.97%
SHAREHOLDERS EQUITY
Retained Earnings $401.0K -$719.0K
YoY Change -167.06% -77.64%
Common Stock $50.85M $48.68M
YoY Change 3.43% 2.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.23M $8.390M
YoY Change 28.32% 2.98%
Treasury Stock Shares $2.302M $1.965M
Shareholders Equity $40.02M $39.57M $39.60M
YoY Change
Total Liabilities & Shareholders Equity $52.42M $49.95M $49.90M
YoY Change -0.54% 8.07% 8.01%

Cashflow Statement

Concept 2016 Q2 2015 Q1 2015
OPERATING ACTIVITIES
Net Income $2.200M $2.100M $5.718M
YoY Change 137.32% 5.0% -0.92%
Depreciation, Depletion And Amortization $260.0K $260.0K $1.050M
YoY Change 0.0% -3.7% -0.94%
Cash From Operating Activities $1.490M $2.180M $4.766M
YoY Change -80.64% -193.97% 30.97%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$40.00K $256.0K
YoY Change -135.71% -50.0% 74.15%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$10.00K -$40.00K -$256.0K
YoY Change -94.41% -50.0% 59.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $127.0K
YoY Change -15.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.450M -810.0K -3.263M
YoY Change 33.76% 0.0% 0.15%
NET CHANGE
Cash From Operating Activities 1.490M 2.180M 4.766M
Cash From Investing Activities -10.00K -40.00K -256.0K
Cash From Financing Activities -1.450M -810.0K -3.263M
Net Change In Cash 30.00K 1.330M 1.247M
YoY Change -99.53% -141.43% 466.82%
FREE CASH FLOW
Cash From Operating Activities $1.490M $2.180M $4.766M
Capital Expenditures -$20.00K -$40.00K $256.0K
Free Cash Flow $1.510M $2.220M $4.510M
YoY Change -80.24% -199.11% 29.15%

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CY2016 us-gaap Fiscal Period
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Fiscal Year:</div> The Company's fiscal year ends on the Sunday nearest to or on March 31. References herein to &#x201c;fiscal year 2016&#x201d; or &#x201c;2016&#x201d; represent the 53-week period ended April 3, 2016 and references to &#x201c;fiscal year 2015&#x201d; or &#x201c;2015&#x201d; represent the 52-week period ended March 29, 2015.</div></div></div></div></div></div></div></div></div></div></div>
CY2015Q1 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
755000
CY2016 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
15000
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
CY2015Q1 us-gaap Goodwill
Goodwill
1126000
CY2016Q2 us-gaap Goodwill
Goodwill
1126000
CY2016Q2 us-gaap Goodwill Gross
GoodwillGross
24000000
CY2015Q1 us-gaap Goodwill Gross
GoodwillGross
24000000
CY2016Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
22900000
CY2015Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
22900000
CY2016 us-gaap Gross Profit
GrossProfit
23813000
CY2015 us-gaap Gross Profit
GrossProfit
23550000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10744000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9160000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3915000
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3442000
CY2016 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
-132000
CY2015 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
6000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3653000
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3114000
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-57000
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
11000
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
200000
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
347000
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
13000
CY2015 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
24000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
4107000
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
3386000
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
168000
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-594000
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1575000
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
658000
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-683000
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1861000
CY2016 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-716000
CY2015 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1008000
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
60000
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
56000
CY2016 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-217000
CY2015 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
515000
CY2016Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3882000
CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4507000
CY2016 us-gaap Interest Expense
InterestExpense
58000
CY2015 us-gaap Interest Expense
InterestExpense
37000
CY2016 us-gaap Interest Paid Net
InterestPaidNet
56000
CY2015 us-gaap Interest Paid Net
InterestPaidNet
37000
CY2016Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14750000
CY2015Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15432000
CY2016Q2 us-gaap Inventory Net
InventoryNet
14785000
CY2015Q1 us-gaap Inventory Net
InventoryNet
15468000
CY2016Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
35000
CY2015Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
36000
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
69000
CY2015 us-gaap Investment Income Interest
InvestmentIncomeInterest
19000
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1500000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1400000
CY2016Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
239000
CY2015Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
230000
CY2016 us-gaap Legal Fees
LegalFees
107000
CY2015 us-gaap Legal Fees
LegalFees
1368000
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
52415000
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
49946000
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
10374000
CY2016Q2 us-gaap Liabilities Current
LiabilitiesCurrent
12185000
CY2016Q2 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
211000
CY2015Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
CY2016 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
25000
CY2015 us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
33000
CY2016Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
25600000
CY2015Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
26000000
CY2016 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00125
CY2016Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
2879000
CY2015Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
2836000
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Note 1 &#x2013; Description of Business </div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;"></div>Crown Crafts, Inc. (the &#x201c;Company&#x201d;) operates indirectly through its wholly-owned subsidiaries, Hamco, Inc. (&#x201c;Hamco&#x201d;) and Crown Crafts Infant Products, Inc. (&#x201c;CCIP&#x201d;), in the infant and toddler products segment within the consumer products industry. The infant and toddler products segment consists of infant and toddler bedding, bibs, soft bath products, disposable products and accessories. Sales of the Company&#x2019;s products are generally made directly to retailers, which are primarily mass merchants, mid-tier retailers, juvenile specialty stores, value channel stores, grocery and drug stores, restaurants, internet accounts and wholesale clubs. The Company&#x2019;s products are manufactured primarily in Asia and marketed under a variety of Company-owned trademarks, under trademarks licensed from others and as private label goods.</div></div></div>
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4925000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3263000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-324000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-256000
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11016000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4766000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
6829000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
5718000
CY2016 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
10788000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
9220000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5400000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1200000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
342000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1200000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1300000
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1300000
CY2016Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
276000
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
230000
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
193000
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
133000
CY2016Q2 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
3686000
CY2015Q1 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
7613000
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000
CY2016Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
671000
CY2015Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
807000
CY2016 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
12918000
CY2015 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
12962000
CY2016 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-61000
CY2015 us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
-59000
CY2014Q4 us-gaap Payments For Legal Settlements
PaymentsForLegalSettlements
850000
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2838000
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
118000
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
243000
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3211000
CY2015 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3205000
CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
17000
CY2016 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
123000
CY2015 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
232000
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
256000
CY2016Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1689000
CY2015Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1906000
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Reclassifications:</div> The Company has reclassified certain prior year information to conform to the amounts presented in the current year. None of the changes impact the Company&#x2019;s previously reported financial position or results of operations.</div></div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
846000
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
116000
CY2016 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
CY2015 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
7839000
CY2016 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
CY2015 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-7839000
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
31000
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4173000
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4056000
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
433000
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
528000
CY2016Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
247000
CY2015Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
235000
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9000
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
401000
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-719000
CY2016 us-gaap Revenue Recognition Services Royalty Fees
RevenueRecognitionServicesRoyaltyFees
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Royalty Payments: </div>The Company has entered into agreements that provide for royalty payments based on a percentage of sales with certain minimum guaranteed amounts. These royalties are accrued based upon historical sales rates adjusted for current sales trends by customers. Royalty expense is included in cost of products sold and amounted to $9.0 million and $8.7 million for fiscal years 2016 and 2015, respectively.</div></div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Royalty Expense
RoyaltyExpense
9000000
CY2015 us-gaap Royalty Expense
RoyaltyExpense
8700000
CY2016 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
84342000
CY2015 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
85978000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
906000
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
862000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
8.38
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
7.90
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0382
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0405
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0112
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0095
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
112500
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
115000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.72
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.59
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
42000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
110000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
165000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.77
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.19
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
532000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
330000
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
185000
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
305000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.83
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.76
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.64
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.27
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.78
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.38
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.90
CY2016Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
112500
CY2016Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
305000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Accelerated Vesting Number
SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber
105000
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
300000
CY2016Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
6.72
CY2016Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
7.64
CY2016 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P8Y83D
CY2016 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
303000
CY2015 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
526000
CY2016 us-gaap Stock Issued1
StockIssued1
140000
CY2015 us-gaap Stock Issued1
StockIssued1
354000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
135000
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
20000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
470000
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
986000
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
35917000
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
39572000
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
40019000
CY2016 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.41
CY2015 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
7.57
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2302191
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1964886
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
337000
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
32000
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11228000
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
8390000
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
243000
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2838000
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
211000
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
573000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
11000
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
11000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
195000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
16000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-style: italic;">Use of Estimates:</div> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated balance sheets and the reported amounts of revenues and expenses during the periods presented on the consolidated statements of income and cash flows. Significant estimates are made with respect to the allowances related to accounts receivable for customer deductions for returns, allowances and disputes. The Company also has a certain amount of discontinued finished goods which necessitates the establishment of inventory reserves that are highly subjective. Actual results could differ materially from those estimates.</div></div></div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
21000
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
33000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10038000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10080000
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10017000
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10047000

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