2017 Q1 Form 10-K Financial Statement

#000119312517085508 Filed on March 16, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2015 Q4 2014 Q4
Revenue $113.4M $185.9M $190.0M
YoY Change 2.19% -2.16% 15.22%
Cost Of Revenue $69.42M $116.9M $120.3M
YoY Change -1.36% -2.83% 18.52%
Gross Profit $43.94M $69.00M $69.80M
YoY Change 8.36% -1.15% 10.27%
Gross Profit Margin 38.76% 37.12% 36.74%
Selling, General & Admin $32.38M $51.00M $51.50M
YoY Change 1.8% -0.97% 10.28%
% of Gross Profit 73.69% 73.91% 73.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.290M $3.500M $3.570M
YoY Change -5.46% -1.96% 31.73%
% of Gross Profit 7.49% 5.07% 5.11%
Operating Expenses $32.38M $51.00M $51.50M
YoY Change 1.8% -0.97% 10.04%
Operating Profit -$1.874M $18.00M $18.30M
YoY Change -64.07% -1.64% 10.91%
Interest Expense $941.0K -$1.400M -$2.400M
YoY Change -21.12% -41.67% 84.62%
% of Operating Profit -7.78% -13.11%
Other Income/Expense, Net
YoY Change
Pretax Income -$2.815M $16.20M $15.90M
YoY Change -56.07% 1.89% 4.61%
Income Tax $3.800M $6.000M $5.500M
% Of Pretax Income 37.04% 34.59%
Net Earnings -$1.331M $11.00M $9.300M
YoY Change -68.96% 18.28% -1.06%
Net Earnings / Revenue -1.17% 5.92% 4.89%
Basic Earnings Per Share -$0.09
Diluted Earnings Per Share -$0.09 $769.2K $600.0K
COMMON SHARES
Basic Shares Outstanding 14.57M shares 14.03M shares 13.68M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.300M $7.100M $5.100M
YoY Change 6.78% 39.22% 4.08%
Cash & Equivalents $6.289M $7.131M $5.068M
Short-Term Investments
Other Short-Term Assets $9.800M $8.800M $7.900M
YoY Change -9.26% 11.39% -18.56%
Inventory $154.2M $136.9M $137.9M
Prepaid Expenses
Receivables $61.76M $90.58M $107.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $232.1M $243.4M $258.1M
YoY Change -1.06% -5.71% 20.24%
LONG-TERM ASSETS
Property, Plant & Equipment $19.89M $24.88M $26.80M
YoY Change -18.62% -7.18% -3.24%
Goodwill $14.35M $18.10M $18.10M
YoY Change -20.74% 0.0% 0.0%
Intangibles $78.49M $85.50M
YoY Change -8.19% 70.77%
Long-Term Investments $24.30M $25.00M $28.20M
YoY Change -0.41% -11.35% -23.58%
Other Assets $1.813M $2.022M $4.732M
YoY Change -19.81% -57.27% 108.64%
Total Long-Term Assets $142.6M $155.0M $163.3M
YoY Change -6.65% -5.1% 33.77%
TOTAL ASSETS
Total Short-Term Assets $232.1M $243.4M $258.1M
Total Long-Term Assets $142.6M $155.0M $163.3M
Total Assets $374.6M $398.3M $421.4M
YoY Change -3.26% -5.47% 25.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.57M $27.25M $28.69M
YoY Change 25.43% -5.05% 33.92%
Accrued Expenses $31.15M $40.15M $36.96M
YoY Change -6.22% 8.64% -10.06%
Deferred Revenue
YoY Change
Short-Term Debt $200.0K $300.0K $800.0K
YoY Change 100.0% -62.5%
Long-Term Debt Due $6.900M $19.60M $10.00M
YoY Change -72.06% 96.0% 156.41%
Total Short-Term Liabilities $70.36M $91.36M $83.87M
YoY Change -11.23% 8.93% 20.69%
LONG-TERM LIABILITIES
Long-Term Debt $81.90M $80.40M $127.7M
YoY Change -2.73% -37.04% 93.78%
Other Long-Term Liabilities $17.87M $18.56M $20.16M
YoY Change -5.78% -7.96% 8.13%
Total Long-Term Liabilities $17.87M $18.56M $20.16M
YoY Change -5.78% -7.96% 8.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.36M $91.36M $83.87M
Total Long-Term Liabilities $17.87M $18.56M $20.16M
Total Liabilities $88.23M $109.9M $104.0M
YoY Change -10.18% 5.66% 18.03%
SHAREHOLDERS EQUITY
Retained Earnings $58.98M $47.73M $37.70M
YoY Change 37.68% 26.6% -1.36%
Common Stock $146.0K $140.0K $137.0K
YoY Change 2.82% 2.19% 7.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $198.7M $199.5M $188.2M
YoY Change
Total Liabilities & Shareholders Equity $374.6M $398.3M $421.4M
YoY Change -3.26% -5.47% 25.14%

Cashflow Statement

Concept 2017 Q1 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.331M $11.00M $9.300M
YoY Change -68.96% 18.28% -1.06%
Depreciation, Depletion And Amortization $3.290M $3.500M $3.570M
YoY Change -5.46% -1.96% 31.73%
Cash From Operating Activities $5.980M $57.94M $26.05M
YoY Change -167.8% 122.42% -12.96%
INVESTING ACTIVITIES
Capital Expenditures $373.0K -$980.0K -$1.760M
YoY Change -50.99% -44.32% 64.49%
Acquisitions
YoY Change
Other Investing Activities $140.0K -$870.0K
YoY Change -116.09%
Cash From Investing Activities -$370.0K -$840.0K -$2.630M
YoY Change -51.32% -68.06% 148.11%
FINANCING ACTIVITIES
Cash Dividend Paid $613.0K
YoY Change 3.2%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.250M -56.52M -23.40M
YoY Change -185.6% 141.54% -10.89%
NET CHANGE
Cash From Operating Activities 5.980M 57.94M 26.05M
Cash From Investing Activities -370.0K -840.0K -2.630M
Cash From Financing Activities -7.250M -56.52M -23.40M
Net Change In Cash -1.640M 580.0K 20.00K
YoY Change 47.75% 2800.0% -99.23%
FREE CASH FLOW
Cash From Operating Activities $5.980M $57.94M $26.05M
Capital Expenditures $373.0K -$980.0K -$1.760M
Free Cash Flow $5.607M $58.92M $27.81M
YoY Change -158.52% 111.87% -10.29%

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6171000
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13862000
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1507000
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CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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CY2015 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
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348000
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CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2015 us-gaap Debt Related Commitment Fees And Debt Issuance Costs
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CY2015 us-gaap Deferred Income Tax Expense Benefit
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CY2015 us-gaap Income Tax Expense Benefit
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430000
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138000
CY2015 us-gaap Advertising Expense
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3900000
CY2015 us-gaap Current Federal Tax Expense Benefit
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5584000
CY2015 us-gaap Current Foreign Tax Expense Benefit
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604000
CY2015 us-gaap Defined Benefit Plan Actual Return On Plan Assets
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CY2015 us-gaap Depreciation And Amortization
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43000
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800000
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8093000
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17400000
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289000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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639000
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641000
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CY2015 us-gaap Current State And Local Tax Expense Benefit
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1879000
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-5281000
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CY2016 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Accounting pronouncements to be adopted in future periods</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> In January 2017, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued ASU <font style="WHITE-SPACE: nowrap">2017-04,</font> <i>Simplifying the Test for Goodwill Impairment</i>, to simplify the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. Under this standard, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit&#x2019;s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December&#xA0;15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January&#xA0;1, 2017. The Company is evaluating if it will early adopt this pronouncement.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> In January 2017, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2017-01,</font> <i>Clarifying the Definition of a Business</i>, to assist with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is effective for fiscal years beginning after December&#xA0;15, 2017, and interim periods within those years. Early adoption is permitted for transactions not reported in financial statements that have been issued or made available for issuance.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In August 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-15,</font> <i>Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments</i>, which reduces the diversity in practice on how certain transactions are classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December&#xA0;15, 2018, and interim periods within fiscal years beginning after December&#xA0;15, 2019. Early adoption is permitted. The Company is evaluating the effect of adopting this pronouncement.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In March 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-09,</font> <i>Improvements to Employee Share-Based Payment Accounting.</i> This standard will require all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. The standard will also allow an employer to repurchase more of an employee&#x2019;s shares than is currently allowed for tax withholding purposes without triggering liability accounting, and will allow companies to make a policy election to account for forfeitures as they occur. The guidance is effective for fiscal years beginning after December&#xA0;15, 2016, and interim periods within those years. Early adoption is permitted. The Company is evaluating the effect of adopting this pronouncement.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In February 2016, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2016-02,</font> <i>Leases,</i> which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and a <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">right-of-use</font></font> asset for the right to use the underlying asset for the lease term. The guidance is effective for fiscal years beginning after December&#xA0;15, 2018, and interim periods within with those years. Early adoption is permitted. The Company is evaluating the effect of adopting this pronouncement.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In July 2015, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2015-11,</font> <i>Inventory: Simplifying the Measurement of Inventory</i>, which affects reporting entities that measure inventory using either the <font style="WHITE-SPACE: nowrap">first-in,</font> <font style="WHITE-SPACE: nowrap">first-out</font> or average cost method. Specifically, the guidance requires that inventory be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal, and transportation. The guidance is effective for fiscal years beginning after December&#xA0;15, 2016, with early adoption permitted. The Company is evaluating the effect of adopting this pronouncement, but when adopted, this pronouncement is not expected to have a material impact on the Company&#x2019;s consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In May 2014, the FASB issued ASU <font style="WHITE-SPACE: nowrap">2014-09,</font> <i>Revenue from Contracts with Customers</i>, to clarify the principles of recognizing revenue and create common revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards. Following the FASB&#x2019;s finalization of a one year deferral of this standard, the ASU is now effective for fiscal years and interim periods within those fiscal years beginning after December&#xA0;15, 2017, with early adoption permitted for fiscal years, and interim periods within those fiscal years, beginning on or after December&#xA0;15, 2016. This ASU can be adopted either retrospectively to each reporting period presented or as a cumulative effect adjustment as of the date of the adoption.&#xA0;The standard supersedes existing revenue recognition guidance and replaces it with a five step revenue model with a core principle that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. In March 2016, the FASB issued Accounting Standards Update <font style="WHITE-SPACE: nowrap">No.&#xA0;2016-08,</font> <i>Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)</i> which clarifies the implementation guidance on principal versus agent considerations</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company intends to adopt the new guidance on January&#xA0;1, 2018, with a cumulative-effect adjustment to opening retained earnings under the modified retrospective approach. Currently, the Company recognizes revenue when title passes to customers and incentives and promotions are recognized as a reduction of revenue, which generally reflects the consideration the Company expects to receive in exchange for the goods sold. The Company&#x2019;s implementation of this ASU includes the evaluation of its customer agreements to identify terms or conditions that could be considered a performance obligation such that, if material to the terms of the contract, consideration would be allocated to the performance obligation and could accelerate or defer the timing of recognizing revenue. The Company continues to evaluate the presentation of certain contract costs (whether presented gross or offset against revenues) and its principal versus agent arrangements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company&#x2019;s evaluation of the new guidance is not yet complete; however, based on the nature of the Company&#x2019;s primary revenue sources and current policies, the Company does not expect a significant change in the timing and presentation of recognizing its revenue.</p> </div>
CY2016 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2016 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016 dei Document Type
DocumentType
10-K
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1.08
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CY2016 dei Entity Central Index Key
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0000874396
CY2016 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
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29749000
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27.16
CY2016 us-gaap Derivative Maturity Dates
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2018-06-30
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CY2016 dei Trading Symbol
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LCUT
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016 dei Amendment Flag
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false
CY2016 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Concentration of credit risk</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The Company&#x2019;s cash and cash equivalents are potentially subject to concentration of credit risk. The Company maintains cash with several financial institutions that, in some cases, is in excess of Federal Deposit Insurance Corporation insurance limits.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Concentrations of credit risk with respect to trade accounts receivable are limited due to the large number of entities comprising the Company&#x2019;s customer base.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> During the years ended December&#xA0;31, 2016, 2015, and 2014, <font style="WHITE-SPACE: nowrap">Wal-Mart</font> Stores,&#xA0;Inc., including Sam&#x2019;s Club and, in the United Kingdom, Asda Superstore, (&#x201C;Walmart&#x201D;), accounted for 16% of net sales in each period. During the year ended December&#xA0;31, 2016, Costco Wholesale Corporation, (&#x201C;Costco&#x201D;), accounted for 10% of net sales. Sales to Walmart are included in the Company&#x2019;s U.S. Wholesale and International segments. Sales to Costco are primarily included in the U.S. Wholesale segment. No other customers accounted for 10% or more of the Company&#x2019;s sales during these periods.</p> </div>
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.036 pure
CY2016 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0110 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0137 pure
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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30750 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.43
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
15.39
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.44
CY2016 dei Document Period End Date
DocumentPeriodEndDate
2016-12-31
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.11
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.079 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.034 pure
CY2016 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2016 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2016 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2014.
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
375000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
66850 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
272325 shares
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2016 us-gaap Advertising Cost Policy Expensed Advertising Cost
AdvertisingCostPolicyExpensedAdvertisingCost
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Advertising expenses</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Advertising expenses are expensed as incurred and are included in selling, general and administrative expenses. Advertising expenses were $3.7&#xA0;million, $3.9&#xA0;million and $4.2&#xA0;million for the years ended December&#xA0;31, 2016, 2015, and 2014, respectively.</p> </div>
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.320 pure
CY2016 dei Entity Registrant Name
EntityRegistrantName
LIFETIME BRANDS, INC
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2016 us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
21699000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.39 pure
CY2016 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
5237000
CY2016 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
32000
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
592619000
CY2016 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
68000
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3380000
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-135000
CY2016 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
17000
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-23061000
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-272000
CY2016 us-gaap Operating Leases Income Statement Sublease Revenue
OperatingLeasesIncomeStatementSubleaseRevenue
108000
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
27077000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
15720000
CY2016 us-gaap Interest Paid
InterestPaid
4171000
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4491000
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17977000
CY2016 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-3900000
CY2016 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-84000
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7094000
CY2016 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2490000
CY2016 us-gaap Shipping And Handling Revenue
ShippingAndHandlingRevenue
2600000
CY2016 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
248000
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
25500000
CY2016 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
86000
CY2016 us-gaap Payments Of Dividends
PaymentsOfDividends
2413000
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-22683000
CY2016 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-132000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
6384000
CY2016 us-gaap Gross Profit
GrossProfit
216900000
CY2016 us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-11400000
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2353000
CY2016 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
246756000
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
30000
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
17000
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
36000
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
54000
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-22814000
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1199000
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
748000
CY2016 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
544000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-112000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22002000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
22114000
CY2016 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
4200000
CY2016 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
435000
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1951000
CY2016 us-gaap Depreciation
Depreciation
8000000
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-384000
CY2016 us-gaap Dividends
Dividends
2472000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7030000
CY2016 us-gaap Interest Expense
InterestExpense
4803000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-24448000
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
-378000
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
148000
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
11000
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
64000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
2942000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
48000
CY2016 us-gaap Advertising Expense
AdvertisingExpense
3700000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
8000000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
483000
CY2016 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
18000
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
14148000
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
223000
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
202000
CY2016 us-gaap Restricted Stock Expense
RestrictedStockExpense
1500000
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
130397000
CY2016 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
4812000
CY2016 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
375719000
CY2016 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
0
CY2016 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
12255000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-4165000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
16600000
CY2016 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
118000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1848000
CY2016 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
650000
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6161000
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
752000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
498000
CY2016 us-gaap Defined Benefit Plan Amount To Be Amortized From Accumulated Other Comprehensive Income Loss Next Fiscal Year
DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear
104000
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
969000
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2353000
CY2016 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
268242000
CY2016 us-gaap Restructuring Charges
RestructuringCharges
2420000
CY2016 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1400000
CY2016 lcut Net Deferred Income Tax Expense Benefit
NetDeferredIncomeTaxExpenseBenefit
-1951000
CY2016 lcut Freight Out Costs
FreightOutCosts
11000000
CY2016 lcut Distribution Expenses
DistributionExpenses
57006000
CY2016 lcut Lease Agreements Expiration Year
LeaseAgreementsExpirationYear
2029
CY2016 lcut Foreign Currency Translation Adjustment
ForeignCurrencyTranslationAdjustment
-23061000
CY2016 lcut Licensing Rights Expiration Date
LicensingRightsExpirationDate
2023
CY2016 lcut Lease Agreement Expiration Year
LeaseAgreementExpirationYear
2020
CY2016 lcut Derivative Effective Date Month And Year
DerivativeEffectiveDateMonthAndYear
2013-03
CY2016 lcut Number Of Leased Properties
NumberOfLeasedProperties
1 Property
CY2016 lcut Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-243000
CY2016 lcut Intangible Assets Including Goodwill Foreign Currency Translation Gain Loss
IntangibleAssetsIncludingGoodwillForeignCurrencyTranslationGainLoss
15300000
CY2016 lcut Payments For Proceeds From Equity Method Investments
PaymentsForProceedsFromEquityMethodInvestments
-567000

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