10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the quarterly period ended March30, 2013

or

[] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________to __________

Commission File Number  1-6720

A. T. CROSS COMPANY
(Exact name of registrant as specified in its charter)

Rhode Island (State or other jurisdiction of incorporation or organization)	05-0126220 (IRS Employer Identification No.)
One Albion Road, Lincoln, Rhode Island (Address of principal executive offices)	02865 (Zip Code)

Registrant's telephone number, including area code (401) 333-1200

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

X Yes __ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (S232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files).

X Yes __ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer	__	Accelerated filer	X
Non-accelerated filer	__	Smaller reporting company	__

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

__ Yes X No

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of April27, 2013:

Class A common stock -	11,080,813 shares
Class B common stock -	1,804,800 shares

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

A. T. CROSS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(THOUSANDS OF DOLLARS AND SHARES)	MARCH 30,		DECEMBER 29,
	2013		2012
ASSETS	(UNAUDITED)
Current Assets
Cash and cash equivalents	$	12,630	$	27,120
Short-term investments		271		227
Accounts receivable, gross		34,741		33,510
Allowance for doubtful accounts		(635)		(633)
Accounts receivable, net		34,106		32,877
Inventories		42,391		38,020
Deferred income taxes		3,409		3,417
Other current assets		8,933		8,072
Total Current Assets		101,740		109,733
Property, plant and equipment, gross		113,439		112,901
Accumulated depreciation		(99,475)		(98,525)
Property, Plant and Equipment, Net		13,964		14,376
Goodwill		15,279		15,279
Intangibles, Net		8,523		8,606
Deferred Income Taxes		10,994		11,570
Other Assets		1,785		1,775
Total Assets	$	152,285	$	161,339
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable, accrued expenses and other liabilities	$	19,303	$	26,399
Line of credit		15,000		15,000
Accrued compensation and related taxes		5,847		8,132
Retirement plan obligations		2,577		2,731
Income taxes payable		178		567
Total Current Liabilities		42,905		52,829
Retirement Plan Obligations		19,737		19,808
Deferred Gain on Sale of Real Estate		1,564		1,695
Other Long-Term Liabilities		706		662
Accrued Warranty Costs		1,256		1,267
Commitments and Contingencies (Note L)		-		-
Total Liabilities		66,168		76,261
Shareholders' Equity
Common stock, par value $1 per share:
Class A - authorized 40,000 shares, 19,208 shares issued and 11,112
shares outstanding at March 30, 2013, and 19,177 shares
issued and 11,163 shares outstanding at December 29, 2012		19,208		19,177
Class B - authorized 4,000 shares, 1,805 shares issued and
outstanding at March 30, 2013 and December 29, 2012		1,805		1,805
Additional paid-in capital		33,249		32,309
Retained earnings		102,306		100,666
Accumulated other comprehensive loss		(20,536)		(19,852)
Treasury stock, at cost		(49,915)		(49,027)
Total Shareholders' Equity		86,117		85,078
Total Liabilities and Shareholders' Equity	$	152,285	$	161,339

See notes to condensed consolidated financial statements.

A. T. CROSS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)

(THOUSANDS OF DOLLARS AND SHARES,	THREE MONTHS ENDED
EXCEPT PER SHARE AMOUNTS)	MARCH 30,		MARCH 31,
	2013		2012
Net sales	$	44,401	$	41,946
Cost of goods sold		19,476		18,376
Gross Profit		24,925		23,570
Selling, general and administrative expenses		19,600		18,475
Service and distribution costs		2,000		2,048
Research and development expenses		707		660
Operating Income		2,618		2,387
Interest income		2		3
Interest expense		(126)		(158)
Other (expense) income		(8)		23
Interest and Other Expense		(132)		(132)
Income Before Income Taxes		2,486		2,255
Income tax provision		846		717
Net Income	$	1,640	$	1,538
Net Income Per Share:
Basic		$ 0.13		$ 0.13
Diluted		$ 0.13		$ 0.12
Weighted Average Shares Outstanding:
Denominator for Basic Net Income Per Share		12,246		12,288
Effect of dilutive securities		733		605
Denominator for Diluted Net Income Per Share		12,979		12,893

A. T. CROSS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Net Income	$	1,640	$	1,538
Other Comprehensive Income (Loss):
Foreign currency translation adjustments		758		206
Unrealized loss on interest rate swap, net of tax		(23)		(3)
Pension liability adjustment, net of tax		(51)		(38)
Comprehensive Income	$	2,324	$	1,703

See notes to condensed consolidated financial statements.

A. T. CROSS COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Cash Used in Operating Activities:
Net Income	$	1,640	$	1,538
Adjustments to reconcile net income to net cash
used in operating activities:
Depreciation		1,309		1,348
Amortization		185		184
Amortization of deferred gain		(130)		(130)
Provision for bad debts		65		(27)
Stock-based compensation and directors' fees		380		587
Excess tax benefit from stock-based awards		(320)		(353)
Unrealized gain on short-term investments		(27)		(7)
Unrealized gain on foreign exchange contracts		(144)		(182)
Unrealized foreign currency transaction gain		(22)		(105)
Changes in operating assets and liabilities:
Accounts receivable		(1,922)		(2,972)
Inventories		(4,880)		(3,814)
Other assets		(886)		965
Accounts payable		(6,667)		466
Other liabilities		(1,511)		(4,911)
Net Cash Used in Operating Activities		(12,930)		(7,413)
Cash Used in Investing Activities:
Purchases of short-term investments		(77)		(8,185)
Sales of short-term investments		60		7,990
Additions to property, plant and equipment		(935)		(831)
Additions to trademarks and patents		(102)		(47)
Net Cash Used in Investing Activities		(1,054)		(1,073)
Cash Used in Financing Activities:
Repayment of long-term debt		-		(3,000)
Excess tax benefit from stock-based awards		320		353
Proceeds from sale of Class A common stock, net		(126)		232
Purchase of treasury stock		(493)		(612)
Net Cash Used in Financing Activities		(299)		(3,027)
Effect of exchange rate changes on cash and cash equivalents		(207)		339
Decrease in Cash and Cash Equivalents		(14,490)		(11,174)
Cash and cash equivalents at beginning of period		27,120		25,991
Cash and Cash Equivalents at End of Period	$	12,630	$	14,817
SUPPLEMENTAL INFORMATION
Income taxes paid, net	$	431	$	466
Interest paid	$	122	$	144

See notes to condensed consolidated financial statements.

A. T. CROSS COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
MARCH 30, 2013

(UNAUDITED)

NOTE A - Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of RegulationS-X.  Accordingly, they do not include all of the information and footnotes required by US GAAP for financial statements.  The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes.  In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of items of a normal and recurring nature) necessary to present fairly the financial position as of March 30, 2013, the results of operations and comprehensive income for the three-month periods ended March 30, 2013 and March 31, 2012, and the cash flows for the three-month periods ended March 30, 2013 and March 31, 2012.  The results of operations for the three-month period ended March 30, 2013 are not necessarily indicative of the results to be expected for the full year.  The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure.  Subsequent events have been evaluated to the date of issuance of these financial statements.  These financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 29, 2012, which includes consolidated financial statements and notes thereto for the years ended December 29, 2012,  December 31, 2011 and January 1, 2011.  The Company operates on a 52/53 week fiscal year, ending on the last Saturday closest to December 31, and consists of 13 week fiscal quarters.

NOTE B - Inventory
The Company’s inventories are valued at the lower of cost or market.  Cost is determined using the first in, first out method.  The components of inventory are as follows:

	MARCH 30,		DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013		2012
Finished goods	$	26,441	$	26,182
Work in process		3,975		3,512
Raw materials		11,975		8,326
	$	42,391	$	38,020

NOTE C - Income Taxes
In the first three months of 2013 the effective tax rate was 34.0%.  In the first three months of 2012 the effective tax rate was 31.8%.  The difference is primarily due to the higher level of domestic versus foreign earnings in the first quarter of 2013 versus the first quarter of 2012.

NOTE D - Segment Information
The Company has two reportable business segments: Cross Accessory Division ("CAD") and Cross Optical Group ("COG").  The Company evaluates segment performance based upon operating profit or loss.  Following is the segment information for the Company:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Revenues from External Customers:
CAD	$	20,565	$	21,929
COG		23,836		20,017
Total	$	44,401	$	41,946
Depreciation and Amortization:
CAD	$	1,050	$	1,143
COG		444		389
Total	$	1,494	$	1,532
Operating (Loss) Income:
CAD	$	(1,066)	$	(462)
COG		3,684		2,849
Total	$	2,618	$	2,387
Total Interest and Other Expense:	$	(132)	$	(132)
Total Income Before Income Taxes:	$	2,486	$	2,255
Expenditure for Long-Lived Assets:
CAD	$	620	$	522
COG		417		356
Total	$	1,037	$	878
	MARCH 30,		DECEMBER 29,
	2013		2012
Segment Assets:
CAD	$	87,691	$	101,909
COG		64,594		59,430
Total	$	152,285	$	161,339
Goodwill:
CAD	$	-	$	-
COG		15,279		15,279
Total	$	15,279	$	15,279

NOTE E - Warranty Costs
CAD’s Cross-branded writing instruments are sold with a full warranty of unlimited duration against mechanical failure.  CAD's accessories are sold with a one-year warranty against mechanical failure and defects in workmanship and timepieces are warranted for a period of two years.  Costa and Native sunglasses are sold with a lifetime warranty against defects in materials and workmanship.  Estimated warranty costs are accrued at the time of sale.  The most significant factors in the estimation of warranty cost liabilities include the operating efficiency and related cost of the service department, unit sales and the number of units that are eventually returned for warranty repair.  The current portion of accrued warranty costs was $0.4 million at March 30, 2013 and December 29, 2012, and was recorded in accounts payable, accrued expenses and other liabilities.  The following chart reflects the activity in aggregate accrued warranty costs:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Accrued Warranty Costs - Beginning of Period	$	1,712	$	1,892
Warranty costs paid		(100)		(135)
Warranty costs accrued		89		174
Accrued Warranty Costs - End of Period	$	1,701	$	1,931

NOTE F - Line of Credit

The Company maintains a $40 million revolving line of credit with Bank of America, N.A. (the “Bank”).  Under the line of credit agreement, the Bank agreed to make loans to the Company in an aggregate amount not to exceed $40 million, including up to $10 million equivalent in Eurocurrency loans denominated in pounds sterling or Euro (“Eurocurrency Loans”) and up to $30 million of other committed loans to the Company (“Committed Loans”) at any time.  As part of the aggregate availability, the Bank may also issue up to $7.5 million in letters of credit.  Subject to the limits on availability and the other terms and conditions of this credit agreement, amounts may be borrowed, repaid and reborrowed without penalty.  This credit facility matures and amounts outstanding must be paid by July 28, 2013.

The interest rate for the Committed Loans will be, at the Company's option, either (i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin or (ii) the higher of the federal funds rate plus 50 basis points or the Bank's prime rate plus an applicable margin.  The interest rate for any Eurocurrency Loans will be an interest settlement rate for deposits in pounds sterling or Euro plus an applicable margin.  The applicable margin for LIBOR and Eurocurrency loans will be an amount between 1.75% and 2.25%, and the applicable margin for federal funds or the Bank's prime rate will be an amount between 0.25% and 0.75%, which will vary from time to time based upon the Company's consolidated leverage ratio.

Under the line of credit agreement, the Company has agreed to comply with certain affirmative and negative covenants.  The most restrictive covenant requires the Company to maintain a maximum ratio of consolidated funded indebtedness to consolidated adjusted EBITDA over any four-quarter period.  The agreement requires the Company to maintain a minimum consolidated tangible net worth, computed at each year end, a maximum level of capital expenditures, each of which is calculated in accordance with the agreement.  Amounts due under the credit agreement are guaranteed by certain domestic and foreign subsidiaries of the Company.  Amounts due are also secured by a pledge of the assets of the Company and those of certain of its domestic subsidiaries.

At March 30, 2013, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million.  At December 29, 2012, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million. 

NOTE G - Employee Benefit Plans
The following table illustrates the components of net periodic benefit cost:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Service cost	$	12	$	12
Interest cost		566		560
Expected return on plan assets		(612)		(577)
Amortization of unrecognized loss		329		288
Amortization of prior service cost		3		3
Net Periodic Benefit Cost	$	298	$	286

The Company contributed $0.1 million to its defined benefit pension plans in the first three months of 2013.  The Company expects to contribute $2.1 million to its defined benefit pension plans in 2013.  Additionally, the Company expects to contribute $0.9 million to its defined contribution retirement plans in 2013.

NOTE H - Goodwill and Other Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized but are subject to annual impairment tests, more frequently if events or circumstances occur that would indicate a potential decline in their fair value.  The Company has identified two reporting units, consisting of the CAD and COG segments.  The Company performs the assessments annually during the fourth quarter or on an interim basis if potential impairment indicators arise.  The fair value of the reporting unit's goodwill is determined using established income and market valuation approaches and the fair value of other indefinite-lived intangible assets, consisting of two COG segment trade names, is determined using a forward relief from royalty method.  For further discussion about impairment analysis, see the "Impairment Analysis" section of Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations," included in our Form 10-K for the fiscal year ended December 29, 2012.

At March 30, 2013 and December 29, 2012, the approximate $15.3 million carrying value of goodwill, $11.9 million of which is expected to be tax deductible, related entirely to the COG segment.  Other intangibles consisted of the following:

(THOUSANDS OF DOLLARS)	MARCH 30, 2013						DECEMBER 29, 2012
	GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET		GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET
Amortized:
Trademarks	$	9,602	$	9,210	$	392	$	9,542	$	9,163	$	379
Patents		3,684		3,359		325		3,642		3,334		308
Customer relationships		3,170		2,264		906		3,170		2,151		1,019
	$	16,456	$	14,833	$	1,623	$	16,354	$	14,648	$	1,706
Not Amortized:
Trade names						6,900						6,900
Intangibles, Net					$	8,523					$	8,606

Amortization expense for the threemonth period ended March 30, 2013 was approximately $0.2 million.  The estimated future amortization expense for other intangibles remaining as of March 30, 2013 is as follows:

(THOUSANDS OF DOLLARS)	2013	2014	2015	2016	2017	THEREAFTER
	$     537	$     667	$     267	$     108	$       44	$                    -

NOTE I - Financial Instruments

The Company is exposed to market risks arising from adverse changes in foreign exchange and interest rates.  In the normal course of business, the Company manages these risks through a variety of strategies, including the use of derivatives.  Certain derivatives are designated as cash flow hedges and qualify for hedge accounting treatment, while others do not qualify and are marked to market through earnings.  Gains or losses from derivatives used to manage foreign exchange are classified as selling, general and administrative expenses.

For cash flow hedges, changes in fair value are deferred in accumulated other comprehensive loss within shareholders' equity until the underlying hedged item is recognized in net income.  For fair value hedges, changes in fair value are recognized immediately in earnings, consistent with the underlying hedged item.  Hedging transactions are limited to an underlying exposure.  As a result, any change in the value of the derivative instruments would be substantially offset by an opposite change in the value of the underlying hedged items.  Hedging ineffectiveness and a net earnings impact occur when the change in the value of the hedge does not offset the change in the value of the underlying hedged item.  Ineffectiveness of the Company's hedges is not material.  If the derivative instrument is terminated, the Company continues to defer the related gain or loss and include it as a component of the cost of the underlying hedged item.  Upon determination that the underlying hedged item will not be part of an actual transaction, the Company recognizes the related gain or loss in the statement of income immediately.

The Company also uses derivatives that do not qualify for hedge accounting treatment.  The Company accounts for such derivatives at market value with the resulting gains and losses reflected in the statements of income.

The Company enters into arrangements with one financial institution that it believes is creditworthy and generally settles such arrangements on a net basis.  In addition, the Company performs a quarterly assessment of counterparty credit risk, including a review of credit ratings, credit default swap rates and potential nonperformance of the counterparty.  Based on the most recent quarterly assessment of counterparty credit risk, the Company considers this risk to be low.

Foreign Exchange

The Company enters into derivatives, primarily forward foreign exchange contracts with terms of no more than one year, to manage risk associated with exposure to certain foreign currency denominated balance sheet positions, primarily intercompany accounts receivable.  Gains or losses resulting from the translation of certain foreign currency balance sheet positions are recognized in the statement of income as incurred.  Foreign currency derivatives had a total notional value of $28.9 million as of March 30, 2013 and $24.6 million as of December 29, 2012.  Gains and losses on the derivatives were generally offset by changes in U.S. dollar value of the underlying hedged items.

Interest Rates

In 2010, the Company entered into a forward interest rate swap agreement with an initial notional amount of $15.0 million and a term of three years.  This swap effectively fixes the interest rate on a portion of the Company’s line of credit at approximately 1.2%.  The item being hedged is the first interest payment to be made on $15.0 million of principal expected to occur each month beginning March 31, 2011.  The Company measures hedge ineffectiveness using the “hypothetical” derivative method.  This swap has been designated a cash flow hedge and the effect of the mark-to-market valuation is recorded as an adjustment, net of tax, to accumulated other comprehensive loss.  From inception to March 30, 2013, the effect of the mark-to-market valuation, net of tax, was not material and was included as a component of accumulated other comprehensive loss.

Fair Value Measurements

The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities.  Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.  The three levels are defined as follows:

Level 1	Unadjusted quoted prices in active markets for identical assets and liabilities.
Level 2	Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
Level 3	Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability.

The fair values of our financial assets and liabilities are categorized as follows:

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Assets:
Money market funds (A)	$	5	$	-	$	-	$	5	$	705	$	-	$	-	$	705
Short-term investments (B)		271		-		-		271		227		-		-		227
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		144		-		144		-		257		-		257
	$	276	$	144	$	-	$	420	$	932	$	257	$	-	$	1,189

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Liabilities
Derivatives designated as
hedging instruments:
Interest rate swaps (D)	$	-	$	51	$	-	$	51	$	-	$	87	$	-	$	87
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		-		-		-		-		157		-		157
	$	-	$	51	$	-	$	51	$	-	$	244	$	-	$	244

(A)	Value is based on quoted market prices of identical instruments, fair value is included in cash and cash equivalents
(B)	Value is based on quoted market prices of identical instruments
(C)	Value is based on the present value of the forward rates less the contract rate multiplied by the notional amount, fair value is included in other current assets or accounts payable, accrued expenses and other liabilities
(D)	Value is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, fair value is included in accounts payable, accrued expenses and other liabilities

Accounts receivable are recorded at net realizable value, which approximates fair value.  Accounts payable, included in accounts payable, accrued expenses and other current liabilities, are recorded at historical cost, which approximates fair value due to the short-term nature of the liabilities.  Line of credit is recorded at historical cost, which approximates fair value since the interest rate varies with prevailing market rates similar to level 2 categorized items.

The effective portion of the pre-tax gains (losses) on our derivative instruments for the three month period ended March 30, 2013and March 31, 2012 are categorized in the following table:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Fair Value / Non-designated Hedges:
Foreign exchange contracts (A)	$	50	$	182
Cash Flow Hedges:
Effective portion recognized in other
comprehensive income:
Interest rate swaps	$	72	$	31
Effective portion reclassified from other
comprehensive income:
Interest rate swaps (B)	$	(36)	$	(35)

(A)	Included in selling, general and administrative expenses
(B)	Included in interest expense

NOTE J - Short-Term Investments

At March 30, 2013, the Company had short-term investments of $0.3 million classified as trading securities.  Realized and unrealized gains or losses on these short-term investments are included in other income.  The amount of unrealized gain on these short-term investments was not material atMarch 30, 2013.  

NOTE K - New Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which simplified how companies test goodwill for impairment.  The ASU permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in the goodwill accounting standard.  The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011.  The Company adopted this pronouncement in 2012.  In July 2012, the FASB issued an ASU which expanded the scope of this valuation testing methodology to include all indefinite-lived assets and is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012.  We do not expect this ASU to have a material effect on our financial position, results of operations or cash flows.

In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” to amend Accounting Standards Codification Topic 220, “Comprehensive Income”.  The amendment requires an entity to provide information about the amounts reclassified out of other comprehensive income by component.  Entities are also required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under US GAAP to be reclassified to net income in its entirety in the same reporting period.  For other amounts that are not required under US GAAP to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures required under US GAAP that provide additional details about those amounts.  ASU 2013-02 is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The Company has applied the requirements of ASU 2013-02 in the first quarter of 2013.

NOTE L - Commitments and Contingencies
The Company was named as one of approximately ninety defendants in a contribution suit brought by CCL/Unilever relating to the J.M. Mills Landfill Site (the “Site”), which is part of the Peterson/Puritan Superfund Site in Cumberland, Rhode Island.  These complaints alleged that the Company was liable under the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA") for contribution for Site investigation costs.  The Company has reached settlement of the case and paid a settlement amount of approximately $0.2 million in 2010.

The Company expects that the Federal Environmental Protection Agency ("EPA") will select a remedy for the Site in 2013.  At that time, the EPA will initiate an administrative process (the "Special Notice Process") pursuant to CERCLA whereby the EPA will request that those entities that the EPA contends arranged for the disposal of hazardous materials at the Site (the PRPs), undertake the selected remedy at the Site.  The EPA contends that the Company is a PRP at the Site.  During the Special Notice Process, the Company and the other PRPs will engage in negotiations with the EPA regarding the remedy, and among themselves regarding the contribution of each PRP to overall remediation costs.  Neither the cost of the remedy nor the identity of all PRPs is known at this time.  Therefore it is not possible to assess the outcome of the Special Notice Process as it may relate to the Company's contribution to remediation costs.

The Company is involved in various other litigation and legal matters that have arisen in the ordinary course of business.  To its knowledge, management believes that the ultimate resolution of any of those existing matters will not have a material adverse effect on the Company's consolidated financial position or results of operations.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations.

Overview

A.T. Cross Company is a designer and marketer of branded personal accessories including writing instruments, reading glasses, personal and business accessories and sunglasses. 

The Company operates in competitive categories.  The Company has challenged itself to build upon its unique attributes in order to develop a vibrant, diversified and forward-looking company poised for sustainable growth and long-term profit.  Such attributes include: strong brand names, an over 160 year heritage, a reputation for quality and craftsmanship, a global distribution network, and a strong balance sheet.  The Company established several strategic initiatives to build upon these attributes and overcome its challenges, including: becoming an innovative leader in the fine writing category, extending the Cross brand into new categories, developing avenues for diversification, streamlining its CAD operating structure and seeking additional brand assets to add scale.  COG has provided the business with an avenue of diversification and added two new brands to the Company’s portfolio: Costa and Native.  These brands uphold the Company’s reputation as an innovative leader with award-winning high-quality products.  Details on how the Company's two business segments are achieving these initiatives are presented below.

In February 2013, the Company announced that it is exploring strategic alternatives for its Cross Accessory Division.  The Company has not made a decision to pursue any specific transaction or any other strategic alternative, and there is no set timetable for the strategic review process.

Cross Accessory Division ("CAD")

The Company has been a manufacturer and marketer of fine quality writing instruments since 1846.  Sold primarily under the Cross brand, ballpoint, fountain and Selectip rolling ball pens and mechanical pencils are offered in a variety of styles and finishes.  Cross also manufactures and markets a line of FranklinCovey entry level price point refillable writing instruments.  Also under the Cross brand, CAD offers a variety of personal and business accessories including leather goods, reading glasses, desk sets and stationery.  The Company has license agreements with third parties to develop and sell Cross watches, cufflinks and leather products.  This segment typically records its highest sales and operating income in the fourth quarter of the fiscal year.

Cross Optical Group ("COG")

The Company's COG segment consists of its wholly-owned subsidiary, Cross Optical Group, Inc.  This business designs, manufactures and markets high-quality, high-performance polarized sunglasses under the brand names Costa and Native.  This segment typically records its highest sales and operating income in the second quarter of the fiscal year.   

Results of Operations First Quarter 2013 Compared to First Quarter 2012

In the first quarter of 2013, the Company reported net income of $1.6 million, or $0.13 per basic and diluted share, compared to net income of $1.5 million, or $0.13 per basic and $0.12 per diluted share in the first quarter of 2012.   

The following chart details net sales performance:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,		PERCENTAGE
	2013		2012		CHANGE
Cross Accessories Division (CAD)	$	20,565	$	21,929	-6.2%
Cross Optical Group (COG)		23,836		20,017	19.1%
Consolidated Net Sales	$	44,401	$	41,946	5.9%

Consolidated net sales were $44.4 million in the first quarter of 2013 compared to $41.9 million in the first quarter of 2012.  The effect of foreign exchange was unfavorable to consolidated first quarter 2013 sales results by approximately 100 basis points.   

CAD sales decreased 6.2% in the first quarter of 2013 compared to the first quarter of 2012.  Two thirds of the decline was related to the substantially weaker Japanese Yen and decreased sales of discontinued product in the Americas. 

COG sales grew by 19.1%, led by the Costa brand which increased 20.2% compared to the prior year first quarter. 

The following chart details gross profit margins for both segments as well as the consolidated gross profit margins:

	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,		PERCENTAGE
	2013		2012		POINT CHANGE
CAD		53.4%		54.0%	(0.6)
COG		58.5%		58.6%	(0.1)
Consolidated Gross Profit Margins		56.1%		56.2%	(0.1)

Consolidated gross margins were 56.1% in the first quarter, 10 basis points lower than the same period last year.

Consolidated operating expenses for the first quarter of 2013 were $22.3 million, or 50.2% of sales, as compared to $21.2 million, or 50.5% of sales a year ago; a decrease of 30 basis points.  The CAD segment operating expenses were 2.1% lower than the prior year’s first quarter.  The COG segment’s operating expenses were 15.5% higher than last year and were directly related to the higher sales volume in the first quarter of 2013. 

In the first quarter of 2013, the effective tax rate was 34.0%.  In the first quarter of 2012, the effective tax rate was 31.8%. The difference is primarily due to the higher level of domestic versus foreign earnings in the first quarter of 2013 versus the first quarter of 2012.

Liquidity and Sources of Capital

Historically, the Company's sources of liquidity and capital resources have been its cash and cash equivalents (“cash”), short-term investments, cash generated from operations and amounts available under the Company's line of credit.  These sources have been sufficient in the past to support the Company's routine operating requirements, capital projects, contributions to the retirement plans, stock repurchase programs and debt service.  The Company expects its future cash needs in 2013 will be met by these historical sources of liquidity and capital. 

The Company's cash and short-term investment balance of $12.9 million at March 30, 2013 decreased $14.4 million from December 29, 2012.  The most significant factors affecting the Company's cash balance are discussed in this section. 

Inventory was $42.4 million at March 30, 2013, an increase of $4.4 million since December 29, 2012.  CAD inventory decreased $0.6 million and COG inventory levels increased by $5.0 million from year end 2012.  The increase in COG inventory was to support anticipated higher sales volumes, as COG typically records its highest sales in the second quarter. 

Accounts payable, accrued expenses and other liabilities was $19.3 million, a decrease of $7.1 million since December 29, 2012.  CAD and COG accounts payable, accrued expenses and other liabilities decreased $3.7 million and $3.4 million, respectively.

The Company has a $40 million secured line of credit with a bank.  This credit facility matures and amounts outstanding must be paid by July 28, 2013.  The Company intends to secure a new credit facility prior to July 28, 2013.  Under the current agreement, the Company has the option to borrow at various interest rates depending upon the type of borrowings made and the Company's consolidated leverage ratio.  At March 30, 2013, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million.  At December 29, 2012, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million.  The Company was in compliance with its various debt covenants as of March 30, 2013.  The agreement requires the Company to maintain a minimum consolidated tangible net worth, computed at each year end, a maximum level of capital expenditures and a minimum ratio of adjusted EBITDA to required debt service payments over any four-quarter period, each of which is calculated in accordance with the agreement: 

Covenant Description	Covenant Requirement	Calculated Company Value March 30, 2013
Consolidated Tangible Net Worth	Cannot be less than $37.5 million plus 50% of Net Income For Fiscal Years after 2010, or $47.0 million	$62.3 million
Capital Expenditures	Cannot exceed the greater of $10 million in a year or $10 million plus the prior year $10 million cap less expenditures	$4.4 million
Consolidated Leverage Ratio	Cannot exceed 2.75 to 1	0.70:1

The Company believes that existing cash and cash provided by operations, supplemented as appropriate by the Company's borrowing arrangements, will be adequate to finance its foreseeable operating and capital requirements, the stock repurchase plan and contributions to the retirement plans.  Should operating cash flows in 2013 not materialize as projected, the Company has a number of planned alternatives to ensure that it will have sufficient cash to meet its operating needs.  These alternatives include implementation of strict cost controls on discretionary spending and delaying non-critical research and development, capital projects and completion of the stock repurchase plan. 

At March 30, 2013, cash and short-term investments available for domestic operations was approximately $4.6 million, while cash held offshore was approximately $8.3 million.

Critical Accounting Policies

There have been no changes to our critical accounting policies and estimates from the information provided in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations," included in our Form 10-K for the fiscal year ended December 29, 2012.

Forward-Looking Statements

Statements contained herein that are not historical fact are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  In addition, words such as "believes," "anticipates," "expects," “intends,” "will" and similar expressions are intended to identify forward-looking statements, including but not limited to statements related to the availability of sources of cash; anticipated compliance with laws and regulations (including but not limited to environmental laws); and anticipated sufficiency of available working capital.  The Company cautions that a number of important factors could cause the Company's actual results for fiscal 2012 and beyond to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.  Forward-looking statements involve a number of risks and uncertainties.  For a discussion of certain of other of those risks, see "Risk Factors"in Item 1A of the Company's 2012 Annual Report on Form 10-K.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk.

Refer to the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2012 for a complete discussion of the Company's market risk.  There have been no material changes to the market risk information included in the Company's 2012 Annual Report on Form 10-K.

Item 4.  Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer have evaluated our disclosure controls and procedures as ofMarch 30, 2013 and have concluded that these disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities and Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.  These disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports we file or submit is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the first three months of 2013 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.

Refer to Item 3 in the Company's Form 10-K Annual Report for the fiscal year ended December 29, 2012 for a complete discussion of the Company's legal proceedings.  No material developments have occurred in the Legal Proceedings described in such Item 3.

The Company is involved in various other litigation and legal matters that have arisen in the ordinary course of business.  To its knowledge, management believes that the ultimate resolution of any of those existing matters will not have a material adverse effect on the Company's consolidated financial position or results of operations.

Item 1A.  Risk Factors.

Refer to Item 1A in the Company's Form 10-K Annual Report for the fiscal year ended December 29, 2012 for a complete discussion of the risk factors which could materially affect the Company's business, financial condition or future results. 

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.

Issuer Purchases of Equity Securities:

	TOTAL NUMBER OF SHARES PURCHASED	AVERAGE PRICE PAID PER SHARE	TOTAL NUMBER OF SHARES PURCHASED AS PART OF PUBLICLY ANNOUNCED PLANS OR PROGRAMS	MAXIMUM NUMBER OF SHARES THAT MAY YET BE PURCHASED UNDER THE PLANS OR PROGRAMS
December 30, 2012 - January 26, 2013	3,200	$ 9.64	3,200	566,334
January 27, 2013 - February 23, 2013	800	$ 12.03	800	565,534
February 24, 2013 - March 30, 2013	35,971	$ 12.50	35,971	529,563
	39,971	$ 12.34	39,971

In 2008, the Company's Board of Directors authorized management to repurchase up to 1.0 million shares of the Company's outstanding Class A common stock, depending on market conditions.  On February 22, 2012, the Company’s Board of Directors authorized a 700,000 share increase to the 2008 program.  Cumulatively, through March 30, 2013, the Company purchased approximately 1.2 million shares under this plan for approximately $8.1 million at an average price per share of $6.91.

Item 3.  Defaults Upon Senior Securities.

None

Item 4.  Mine Safety Disclosures

None

Item 5.  Other Information.

None

Item 6.  Exhibits.

Exhibit 31.1	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 31.2	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
Exhibit 32	Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 101	Interactive XBRL Data Files

SIGNATURES

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	A. T. CROSS COMPANY
Date:  May  8,  2013	By:  DAVID G. WHALEN David G. Whalen Chief Executive Officer
Date:  May  8, 2013	By:  KEVIN F. MAHONEY Kevin F. Mahoney Senior Vice President, Finance and Chief Financial Officer

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, David G. Whalen, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of A.T. Cross Company;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and
	d)	disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:  May  8, 2013			DAVID G. WHALEN
			David G. Whalen
			President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Kevin F. Mahoney, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of A.T. Cross Company;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and
	d)	disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.	The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:May  8, 2013			KEVIN F. MAHONEY
			Kevin F. Mahoney
			Chief Financial Officer

EX-32

Exhibit 32

FORM OF 906 CERTIFICATION

The certification set forth below is being submitted in connection with the Quarterly Report on Form
10-Q for the quarter endedMarch 30, 2013 (the "Report") for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 1350 of Chapter 63 of Title 18 of the United States Code.

David G. Whalen, the Chief Executive Officer and Kevin F. Mahoney, the Chief Financial Officer of A.T. Cross Company, each certifies that, to the best of his knowledge:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of A.T. Cross Company.

Date:May  8, 2013	DAVID G. WHALEN
	David G. Whalen
	Chief Executive Officer
	KEVIN F. MAHONEY
	Kevin F. Mahoney
	Chief Financial Officer

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Short-Term Investments (Details) (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Short-Term Investments [Abstract]
Short-term investments	$ 271	$ 227

XML

Goodwill And Other Intangible Assets (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 30, 2013 segment	Mar. 31, 2012	Dec. 29, 2012
Goodwill and Other Intangible Assets [Line Items]
Number of reporting units	2
Carrying value of goodwill	$ 15,279,000		$ 15,279,000
Amortization expense for other intangible assets	185,000	184,000
Cross Optical Group [Member]
Goodwill and Other Intangible Assets [Line Items]
Carrying value of goodwill	15,279,000		15,279,000
Goodwill expected to be tax deductible	$ 11,900,000		$ 11,900,000

XML

Inventory (Components Of Inventory) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Inventory [Abstract]
Finished goods	$ 26,441	$ 26,182
Work in process	3,975	3,512
Raw materials	11,975	8,326
Inventories	$ 42,391	$ 38,020

XML

Financial Instruments (Fair Values Of Financial Assets And Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of financial assets	$ 420	$ 1,189
Fair values of financial liabilities	51	244
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of financial assets	276	932
Fair values of financial liabilities
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of financial assets	144	257
Fair values of financial liabilities	51	244
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of financial assets
Fair values of financial liabilities
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets	5	705
Money Market Funds [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets	5	705
Money Market Funds [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets
Money Market Funds [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets
Short-Term Investments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets	271	227
Short-Term Investments [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets	271	227
Short-Term Investments [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets
Short-Term Investments [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of non-derivative financial assets
Foreign Exchange Contracts [Member] | Derivatives Not Designated As Hedging Instruments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial assets	144	257
Fair values of derivative financial liabilities		157
Foreign Exchange Contracts [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial assets
Fair values of derivative financial liabilities
Foreign Exchange Contracts [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial assets	144	257
Fair values of derivative financial liabilities		157
Foreign Exchange Contracts [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial assets
Fair values of derivative financial liabilities
Interest Rate Swaps [Member] | Derivatives Designated As Hedging Instruments [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial liabilities	51	87
Interest Rate Swaps [Member] | Derivatives Designated As Hedging Instruments [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial liabilities
Interest Rate Swaps [Member] | Derivatives Designated As Hedging Instruments [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial liabilities	51	87
Interest Rate Swaps [Member] | Derivatives Designated As Hedging Instruments [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values of derivative financial liabilities

XML

Income Taxes

3 Months Ended

Mar. 30, 2013

Income Taxes [Abstract]

Income Taxes

NOTE C - Income Taxes
In the first three months of 2013 the effective tax rate was 34.0%.  In the first three months of 2012 the effective tax rate was 31.8%.  The difference is primarily due to the higher level of domestic versus foreign earnings in the first quarter of 2013 versus the first quarter of 2012.

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Warranty Costs (Schedule Of Activity Reflects In Aggregate Accrued Warranty Costs) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Warranty Costs [Abstract]
Accrued Warranty Costs - Beginning of Period	$ 1,712	$ 1,892
Warranty costs paid	(100)	(135)
Warranty costs accrued	89	174
Accrued Warranty Costs - End of Period	$ 1,701	$ 1,931

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Warranty Costs (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Warranty Costs [Line Items]
Accrued warranty costs, current	$ 0.4	$ 0.4
Accessories [Member]
Warranty Costs [Line Items]
Product warranty period	1 year
Timepieces [Member]
Warranty Costs [Line Items]
Product warranty period	2 years

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Line Of Credit (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Dec. 29, 2012
Line of Credit Facility [Line Items]
Maximum borrowing capacity under credit facility	$ 40.0
Expiration date of credit facility	Jul. 28, 2013
Outstanding balance under credit facility	15.0	15.0
Interest rate of credit facility	2.00%	2.00%
Unused and available portion of credit facility	25.0	25.0
Eurocurrency Loans [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity under credit facility	10.0
Committed Loans [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity under credit facility	30.0
Letters Of Credit [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity under credit facility	$ 7.5
LIBOR [Member] | Eurocurrency Loans [Member]
Line of Credit Facility [Line Items]
Debt instrument rate, minimum	1.75%
Debt instrument rate, maximum	2.25%
Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Debt instrument rate, minimum	0.25%
Debt instrument rate, maximum	0.75%
Federal Funds Rate [Member] | Committed Loans [Member]
Line of Credit Facility [Line Items]
Basis spread on federal funds rate	0.50%

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Employee Benefit Plans (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Dec. 28, 2013
Employee Benefit Plans [Abstract]
Employer contribution to defined benefit pension plans	$ 0.1
Expected contribution to defined benefit pension plans		2.1
Expected contribution to defined contribution retirement plans		$ 0.9

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Inventory

3 Months Ended

Mar. 30, 2013

Inventory [Abstract]

Inventory

NOTE B - Inventory
The Company’s inventories are valued at the lower of cost or market.  Cost is determined using the first in, first out method.  The components of inventory are as follows:

	MARCH 30,		DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013		2012
Finished goods	$	26,441	$	26,182
Work in process		3,975		3,512
Raw materials		11,975		8,326
	$	42,391	$	38,020

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Employee Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Employee Benefit Plans [Abstract]
Service cost	$ 12	$ 12
Interest cost	566	560
Expected return on plan assets	(612)	(577)
Amortization of unrecognized loss	329	288
Amortization of prior service cost	3	3
Net Periodic Benefit Cost	$ 298	$ 286

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Commitments And Contingencies (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jan. 01, 2011
Commitments And Contingencies [Abstract]
Payment on settlement of case	$ 0.2

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Current Assets
Cash and cash equivalents	$ 12,630	$ 27,120
Short-term investments	271	227
Accounts receivable, gross	34,741	33,510
Allowance for doubtful accounts	(635)	(633)
Accounts receivable, net	34,106	32,877
Inventories	42,391	38,020
Deferred income taxes	3,409	3,417
Other current assets	8,933	8,072
Total Current Assets	101,740	109,733
Property, plant and equipment, gross	113,439	112,901
Accumulated depreciation	(99,475)	(98,525)
Property, Plant and Equipment, Net	13,964	14,376
Goodwill	15,279	15,279
Intangibles, Net	8,523	8,606
Deferred Income Taxes	10,994	11,570
Other Assets	1,785	1,775
Total Assets	152,285	161,339
Current Liabilities
Accounts payable, accrued expenses and other liabilities	19,303	26,399
Line of credit	15,000	15,000
Accrued compensation and related taxes	5,847	8,132
Retirement plan obligations	2,577	2,731
Income taxes payable	178	567
Total Current Liabilities	42,905	52,829
Retirement Plan Obligations	19,737	19,808
Deferred Gain on Sale of Real Estate	1,564	1,695
Other Long-Term Liabilities	706	662
Accrued Warranty Costs	1,256	1,267
Commitments and Contingencies (Note L)
Total Liabilities	66,168	76,261
Shareholders' Equity
Additional paid-in capital	33,249	32,309
Retained earnings	102,306	100,666
Accumulated other comprehensive loss	(20,536)	(19,852)
Treasury stock, at cost	(49,915)	(49,027)
Total Shareholders' Equity	86,117	85,078
Total Liabilities and Shareholders' Equity	152,285	161,339
Class A [Member]
Shareholders' Equity
Common stock	19,208	19,177
Class B [Member]
Shareholders' Equity
Common stock	$ 1,805	$ 1,805

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Condensed Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Cash Used in Operating Activities:
Net Income	$ 1,640	$ 1,538
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	1,309	1,348
Amortization	185	184
Amortization of deferred gain	(130)	(130)
Provision for bad debts	65	(27)
Stock-based compensation and directors' fees	380	587
Excess tax benefit from stock-based awards	(320)	(353)
Unrealized gain on short-term investments	(27)	(7)
Unrealized gain on foreign exchange contracts	(144)	(182)
Unrealized foreign currency transaction gain	(22)	(105)
Changes in operating assets and liabilities:
Accounts receivable	(1,922)	(2,972)
Inventories	(4,880)	(3,814)
Other assets	(886)	965
Accounts payable	(6,667)	466
Other liabilities	(1,511)	(4,911)
Net Cash Used in Operating Activities	(12,930)	(7,413)
Cash Used in Investing Activities:
Purchases of short-term investments	(77)	(8,185)
Sales of short-term investments	60	7,990
Additions to property, plant and equipment	(935)	(831)
Additions to trademarks and patents	(102)	(47)
Net Cash Used in Investing Activities	(1,054)	(1,073)
Cash Used in Financing Activities:
Repayment of long-term debt		(3,000)
Excess tax benefit from stock-based awards	320	353
Proceeds from sale of Class A common stock, net	(126)	232
Purchase of treasury stock	(493)	(612)
Net Cash Used in Financing Activities	(299)	(3,027)
Effect of exchange rate changes on cash and cash equivalents	(207)	339
Decrease in Cash and Cash Equivalents	(14,490)	(11,174)
Cash and cash equivalents at beginning of period	27,120	25,991
Cash and Cash Equivalents at End of Period	12,630	14,817
SUPPLEMENTAL INFORMATION
Income taxes paid, net	431	466
Interest paid	$ 122	$ 144

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Goodwill And Other Intangible Assets (Estimated Future Amortization Expense For Other Intangibles) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013
Goodwill And Other Intangible Assets [Abstract]
2013	$ 537
2014	667
2015	267
2016	108
2017	44
THEREAFTER

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Employee Benefit Plans (Tables)

3 Months Ended

Mar. 30, 2013

Employee Benefit Plans [Abstract]

Components Of Net Periodic Benefit Cost

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Service cost	$	12	$	12
Interest cost		566		560
Expected return on plan assets		(612)		(577)
Amortization of unrecognized loss		329		288
Amortization of prior service cost		3		3
Net Periodic Benefit Cost	$	298	$	286

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Financial Instruments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Mar. 30, 2013 Foreign Exchange Contracts [Member]	Dec. 29, 2012 Foreign Exchange Contracts [Member]	Mar. 30, 2013 Interest Rate Swaps [Member]	Jan. 01, 2011 Forward Interest Rate Swap Agreement [Member]
Derivative [Line Items]
Foreign currency derivatives notional value	$ 28.9	$ 24.6
Notional amount of interest rate swap				$ 15.0
Term of derivative contracts			3 years
Interest rate on portion of the Company's line of credit			1.20%

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Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2013

Mar. 31, 2012

Financial Instruments [Abstract]

Fair Values Of Financial Assets And Liabilities

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Assets:
Money market funds (A)	$	5	$	-	$	-	$	5	$	705	$	-	$	-	$	705
Short-term investments (B)		271		-		-		271		227		-		-		227
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		144		-		144		-		257		-		257
	$	276	$	144	$	-	$	420	$	932	$	257	$	-	$	1,189

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Liabilities
Derivatives designated as
hedging instruments:
Interest rate swaps (D)	$	-	$	51	$	-	$	51	$	-	$	87	$	-	$	87
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		-		-		-		-		157		-		157
	$	-	$	51	$	-	$	51	$	-	$	244	$	-	$	244

(A)	Value is based on quoted market prices of identical instruments, fair value is included in cash and cash equivalents
(B)	Value is based on quoted market prices of identical instruments
(C)	Value is based on the present value of the forward rates less the contract rate multiplied by the notional amount, fair value is included in other current assets or accounts payable, accrued expenses and other liabilities
(D)	Value is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, fair value is included in accounts payable, accrued expenses and other liabilities

Effective Portion Of Pre-Tax Gains (Losses) On Derivative Instruments

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Fair Value / Non-designated Hedges:
Foreign exchange contracts (A)	$	50	$	182
Cash Flow Hedges:
Effective portion recognized in other
comprehensive income:
Interest rate swaps	$	72	$	31
Effective portion reclassified from other
comprehensive income:
Interest rate swaps (B)	$	(36)	$	(35)

(A)	Included in selling, general and administrative expenses
(B)	Included in interest expense

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Basis Of Presentation

3 Months Ended

Mar. 30, 2013

Basis Of Presentation [Abstract]

Basis Of Presentation

NOTE A - Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of RegulationS-X.  Accordingly, they do not include all of the information and footnotes required by US GAAP for financial statements.  The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes.  In the opinion of the Company's management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of items of a normal and recurring nature) necessary to present fairly the financial position as of March 30, 2013, the results of operations and comprehensive income for the three-month periods ended March 30, 2013 and March 31, 2012, and the cash flows for the three-month periods ended March 30, 2013 and March 31, 2012.  The results of operations for the three-month period ended March 30, 2013 are not necessarily indicative of the results to be expected for the full year.  The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure.  Subsequent events have been evaluated to the date of issuance of these financial statements.  These financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 29, 2012, which includes consolidated financial statements and notes thereto for the years ended December 29, 2012, December 31, 2011 and January 1, 2011.  The Company operates on a 52/53 week fiscal year, ending on the last Saturday closest to December 31, and consists of 13 week fiscal quarters.

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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 30, 2013	Dec. 29, 2012
Class A [Member]
Shareholders' Equity
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	19,208,000	19,177,000
Common stock, shares outstanding	11,112,000	11,163,000
Class B [Member]
Shareholders' Equity
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	4,000,000	4,000,000
Common stock, shares issued	1,805,000	1,805,000
Common stock, shares outstanding	1,805,000	1,805,000

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New Accounting Pronouncements

3 Months Ended

Mar. 30, 2013

New Accounting Pronouncements [Abstract]

New Accounting Pronouncements

NOTE K - New Accounting Pronouncements

In September 2011, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which simplified how companies test goodwill for impairment.  The ASU permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in the goodwill accounting standard.  The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011.  The Company adopted this pronouncement in 2012.  In July 2012, the FASB issued an ASU which expanded the scope of this valuation testing methodology to include all indefinite-lived assets and is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012.  We do not expect this ASU to have a material effect on our financial position, results of operations or cash flows.

In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” to amend Accounting Standards Codification Topic 220, “Comprehensive Income”.  The amendment requires an entity to provide information about the amounts reclassified out of other comprehensive income by component.  Entities are also required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under US GAAP to be reclassified to net income in its entirety in the same reporting period.  For other amounts that are not required under US GAAP to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures required under US GAAP that provide additional details about those amounts.  ASU 2013-02 is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The Company has applied the requirements of ASU 2013-02 in the first quarter of 2013.

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Document And Entity Information	3 Months Ended
	Mar. 30, 2013	Apr. 27, 2013 Class A [Member]	Apr. 27, 2013 Class B [Member]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Trading Symbol	atx
Entity Registrant Name	CROSS A T CO
Entity Central Index Key	0000025793
Current Fiscal Year End Date	--12-28
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		11,080,813	1,804,800

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Commitments And Contingencies

3 Months Ended

Mar. 30, 2013

Commitments And Contingencies [Abstract]

Commitments And Contingencies

NOTE L - Commitments and Contingencies
The Company was named as one of approximately ninety defendants in a contribution suit brought by CCL/Unilever relating to the J.M. Mills Landfill Site (the “Site”), which is part of the Peterson/Puritan Superfund Site in Cumberland, Rhode Island.  These complaints alleged that the Company was liable under the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA") for contribution for Site investigation costs.  The Company has reached settlement of the case and paid a settlement amount of approximately $0.2 million in 2010.

The Company expects that the Federal Environmental Protection Agency ("EPA") will select a remedy for the Site in 2013.  At that time, the EPA will initiate an administrative process (the "Special Notice Process") pursuant to CERCLA whereby the EPA will request that those entities that the EPA contends arranged for the disposal of hazardous materials at the Site (the PRPs), undertake the selected remedy at the Site.  The EPA contends that the Company is a PRP at the Site.  During the Special Notice Process, the Company and the other PRPs will engage in negotiations with the EPA regarding the remedy, and among themselves regarding the contribution of each PRP to overall remediation costs.  Neither the cost of the remedy nor the identity of all PRPs is known at this time.  Therefore it is not possible to assess the outcome of the Special Notice Process as it may relate to the Company's contribution to remediation costs.

The Company is involved in various other litigation and legal matters that have arisen in the ordinary course of business.  To its knowledge, management believes that the ultimate resolution of any of those existing matters will not have a material adverse effect on the Company's consolidated financial position or results of operations.

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Condensed Consolidated Statements Of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$ 44,401	$ 41,946
Cost of goods sold	19,476	18,376
Gross Profit	24,925	23,570
Selling, general and administrative expenses	19,600	18,475
Service and distribution costs	2,000	2,048
Research and development expenses	707	660
Operating Income	2,618	2,387
Interest income	2	3
Interest expense	(126)	(158)
Other (expense) income	(8)	23
Interest and Other Expense	(132)	(132)
Income Before Income Taxes	2,486	2,255
Income tax provision	846	717
Net Income	$ 1,640	$ 1,538
Net Income Per Share:
Basic	$ 0.13	$ 0.13
Diluted	$ 0.13	$ 0.12
Weighted Average Shares Outstanding:
Denominator for Basic Net Income Per Share	12,246	12,288
Effect of dilutive securities	733	605
Denominator for Diluted Net Income Per Share	12,979	12,893

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Line Of Credit

3 Months Ended

Mar. 30, 2013

Line Of Credit [Abstract]

Line Of Credit

NOTE F - Line of Credit

The Company maintains a $40 million revolving line of credit with Bank of America, N.A. (the “Bank”).  Under the line of credit agreement, the Bank agreed to make loans to the Company in an aggregate amount not to exceed $40 million, including up to $10 million equivalent in Eurocurrency loans denominated in pounds sterling or Euro (“Eurocurrency Loans”) and up to $30 million of other committed loans to the Company (“Committed Loans”) at any time.  As part of the aggregate availability, the Bank may also issue up to $7.5 million in letters of credit.  Subject to the limits on availability and the other terms and conditions of this credit agreement, amounts may be borrowed, repaid and reborrowed without penalty.  This credit facility matures and amounts outstanding must be paid by July 28, 2013.

The interest rate for the Committed Loans will be, at the Company's option, either (i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin or (ii) the higher of the federal funds rate plus 50 basis points or the Bank's prime rate plus an applicable margin.  The interest rate for any Eurocurrency Loans will be an interest settlement rate for deposits in pounds sterling or Euro plus an applicable margin.  The applicable margin for LIBOR and Eurocurrency loans will be an amount between 1.75% and 2.25%, and the applicable margin for federal funds or the Bank's prime rate will be an amount between 0.25% and 0.75%, which will vary from time to time based upon the Company's consolidated leverage ratio.

Under the line of credit agreement, the Company has agreed to comply with certain affirmative and negative covenants.  The most restrictive covenant requires the Company to maintain a maximum ratio of consolidated funded indebtedness to consolidated adjusted EBITDA over any four-quarter period.  The agreement requires the Company to maintain a minimum consolidated tangible net worth, computed at each year end, a maximum level of capital expenditures, each of which is calculated in accordance with the agreement.  Amounts due under the credit agreement are guaranteed by certain domestic and foreign subsidiaries of the Company.  Amounts due are also secured by a pledge of the assets of the Company and those of certain of its domestic subsidiaries.

At March 30, 2013, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million.  At December 29, 2012, the outstanding balance of the Company's line of credit was $15.0 million, bearing an interest rate of approximately 2.0%, and the unused and available portion, according to the terms of the agreement, was $25.0 million. 

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Warranty Costs

3 Months Ended

Mar. 30, 2013

Warranty Costs [Abstract]

Warranty Costs

NOTE E - Warranty Costs
CAD’s Cross-branded writing instruments are sold with a full warranty of unlimited duration against mechanical failure.  CAD's accessories are sold with a one-year warranty against mechanical failure and defects in workmanship and timepieces are warranted for a period of two years.  Costa and Native sunglasses are sold with a lifetime warranty against defects in materials and workmanship.  Estimated warranty costs are accrued at the time of sale.  The most significant factors in the estimation of warranty cost liabilities include the operating efficiency and related cost of the service department, unit sales and the number of units that are eventually returned for warranty repair.  The current portion of accrued warranty costs was $0.4 million at March 30, 2013 and December 29, 2012, and was recorded in accounts payable, accrued expenses and other liabilities.  The following chart reflects the activity in aggregate accrued warranty costs:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Accrued Warranty Costs - Beginning of Period	$	1,712	$	1,892
Warranty costs paid		(100)		(135)
Warranty costs accrued		89		174
Accrued Warranty Costs - End of Period	$	1,701	$	1,931

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Goodwill And Other Intangible Assets (Tables)

3 Months Ended

Mar. 30, 2013

Goodwill And Other Intangible Assets [Abstract]

Schedule Of Other Intangibles

(THOUSANDS OF DOLLARS)	MARCH 30, 2013						DECEMBER 29, 2012
	GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET		GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET
Amortized:
Trademarks	$	9,602	$	9,210	$	392	$	9,542	$	9,163	$	379
Patents		3,684		3,359		325		3,642		3,334		308
Customer relationships		3,170		2,264		906		3,170		2,151		1,019
	$	16,456	$	14,833	$	1,623	$	16,354	$	14,648	$	1,706
Not Amortized:
Trade names						6,900						6,900
Intangibles, Net					$	8,523					$	8,606

Estimated Future Amortization Expense For Other Intangibles

(THOUSANDS OF DOLLARS)	2013	2014	2015	2016	2017	THEREAFTER
	$     537	$     667	$     267	$     108	$       44	$                    -

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Inventory (Tables)

3 Months Ended

Mar. 30, 2013

Inventory [Abstract]

Components Of Inventory

	MARCH 30,		DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013		2012
Finished goods	$	26,441	$	26,182
Work in process		3,975		3,512
Raw materials		11,975		8,326
	$	42,391	$	38,020

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Financial Instruments

3 Months Ended

Mar. 30, 2013

Financial Instruments [Abstract]

Financial Instruments

NOTE I - Financial Instruments

The Company is exposed to market risks arising from adverse changes in foreign exchange and interest rates.  In the normal course of business, the Company manages these risks through a variety of strategies, including the use of derivatives.  Certain derivatives are designated as cash flow hedges and qualify for hedge accounting treatment, while others do not qualify and are marked to market through earnings.  Gains or losses from derivatives used to manage foreign exchange are classified as selling, general and administrative expenses.

For cash flow hedges, changes in fair value are deferred in accumulated other comprehensive loss within shareholders' equity until the underlying hedged item is recognized in net income.  For fair value hedges, changes in fair value are recognized immediately in earnings, consistent with the underlying hedged item.  Hedging transactions are limited to an underlying exposure.  As a result, any change in the value of the derivative instruments would be substantially offset by an opposite change in the value of the underlying hedged items.  Hedging ineffectiveness and a net earnings impact occur when the change in the value of the hedge does not offset the change in the value of the underlying hedged item.  Ineffectiveness of the Company's hedges is not material.  If the derivative instrument is terminated, the Company continues to defer the related gain or loss and include it as a component of the cost of the underlying hedged item.  Upon determination that the underlying hedged item will not be part of an actual transaction, the Company recognizes the related gain or loss in the statement of income immediately.

The Company also uses derivatives that do not qualify for hedge accounting treatment.  The Company accounts for such derivatives at market value with the resulting gains and losses reflected in the statements of income.

The Company enters into arrangements with one financial institution that it believes is creditworthy and generally settles such arrangements on a net basis.  In addition, the Company performs a quarterly assessment of counterparty credit risk, including a review of credit ratings, credit default swap rates and potential nonperformance of the counterparty.  Based on the most recent quarterly assessment of counterparty credit risk, the Company considers this risk to be low.

Foreign Exchange

The Company enters into derivatives, primarily forward foreign exchange contracts with terms of no more than one year, to manage risk associated with exposure to certain foreign currency denominated balance sheet positions, primarily intercompany accounts receivable.  Gains or losses resulting from the translation of certain foreign currency balance sheet positions are recognized in the statement of income as incurred.  Foreign currency derivatives had a total notional value of $28.9 million as of March 30, 2013 and $24.6 million as of December 29, 2012.  Gains and losses on the derivatives were generally offset by changes in U.S. dollar value of the underlying hedged items.

Interest Rates

In 2010, the Company entered into a forward interest rate swap agreement with an initial notional amount of $15.0 million and a term of three years.  This swap effectively fixes the interest rate on a portion of the Company’s line of credit at approximately 1.2%.  The item being hedged is the first interest payment to be made on $15.0 million of principal expected to occur each month beginning March 31, 2011.  The Company measures hedge ineffectiveness using the “hypothetical” derivative method.  This swap has been designated a cash flow hedge and the effect of the mark-to-market valuation is recorded as an adjustment, net of tax, to accumulated other comprehensive loss.  From inception to March 30, 2013, the effect of the mark-to-market valuation, net of tax, was not material and was included as a component of accumulated other comprehensive loss.

Fair Value Measurements

The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities.  Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.  The three levels are defined as follows:

Level 1	Unadjusted quoted prices in active markets for identical assets and liabilities.
Level 2	Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
Level 3	Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability.

The fair values of our financial assets and liabilities are categorized as follows:

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Assets:
Money market funds (A)	$	5	$	-	$	-	$	5	$	705	$	-	$	-	$	705
Short-term investments (B)		271		-		-		271		227		-		-		227
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		144		-		144		-		257		-		257
	$	276	$	144	$	-	$	420	$	932	$	257	$	-	$	1,189

	MARCH 30,								DECEMBER 29,
(THOUSANDS OF DOLLARS)	2013								2012
	LEVEL 1		LEVEL 2		LEVEL 3		TOTAL		LEVEL 1		LEVEL 2		LEVEL 3		TOTAL
Liabilities
Derivatives designated as
hedging instruments:
Interest rate swaps (D)	$	-	$	51	$	-	$	51	$	-	$	87	$	-	$	87
Derivatives not designated as
hedging instruments:
Foreign exchange contracts (C)		-		-		-		-		-		157		-		157
	$	-	$	51	$	-	$	51	$	-	$	244	$	-	$	244

(A)	Value is based on quoted market prices of identical instruments, fair value is included in cash and cash equivalents
(B)	Value is based on quoted market prices of identical instruments
(C)	Value is based on the present value of the forward rates less the contract rate multiplied by the notional amount, fair value is included in other current assets or accounts payable, accrued expenses and other liabilities
(D)	Value is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve, fair value is included in accounts payable, accrued expenses and other liabilities

Accounts receivable are recorded at net realizable value, which approximates fair value.  Accounts payable, included in accounts payable, accrued expenses and other current liabilities, are recorded at historical cost, which approximates fair value due to the short-term nature of the liabilities.  Line of credit is recorded at historical cost, which approximates fair value since the interest rate varies with prevailing market rates similar to level 2 categorized items.

The effective portion of the pre-tax gains (losses) on our derivative instruments for the three month period ended March 30, 2013and March 31, 2012 are categorized in the following table:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Fair Value / Non-designated Hedges:
Foreign exchange contracts (A)	$	50	$	182
Cash Flow Hedges:
Effective portion recognized in other
comprehensive income:
Interest rate swaps	$	72	$	31
Effective portion reclassified from other
comprehensive income:
Interest rate swaps (B)	$	(36)	$	(35)

(A)	Included in selling, general and administrative expenses
(B)	Included in interest expense

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Employee Benefit Plans

3 Months Ended

Mar. 30, 2013

Employee Benefit Plans [Abstract]

Employee Benefit Plans

NOTE G - Employee Benefit Plans
The following table illustrates the components of net periodic benefit cost:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Service cost	$	12	$	12
Interest cost		566		560
Expected return on plan assets		(612)		(577)
Amortization of unrecognized loss		329		288
Amortization of prior service cost		3		3
Net Periodic Benefit Cost	$	298	$	286

The Company contributed $0.1 million to its defined benefit pension plans in the first three months of 2013.  The Company expects to contribute $2.1 million to its defined benefit pension plans in 2013.  Additionally, the Company expects to contribute $0.9 million to its defined contribution retirement plans in 2013.

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Goodwill And Other Intangible Assets

3 Months Ended

Mar. 30, 2013

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets

NOTE H - Goodwill and Other Intangible Assets

Goodwill and indefinite-lived intangible assets are not amortized but are subject to annual impairment tests, more frequently if events or circumstances occur that would indicate a potential decline in their fair value.  The Company has identified two reporting units, consisting of the CAD and COG segments.  The Company performs the assessments annually during the fourth quarter or on an interim basis if potential impairment indicators arise.  The fair value of the reporting unit's goodwill is determined using established income and market valuation approaches and the fair value of other indefinite-lived intangible assets, consisting of two COG segment trade names, is determined using a forward relief from royalty method.  For further discussion about impairment analysis, see the "Impairment Analysis" section of Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations," included in our Form 10-K for the fiscal year ended December 29, 2012.

At March 30, 2013 and December 29, 2012, the approximate $15.3 million carrying value of goodwill, $11.9 million of which is expected to be tax deductible, related entirely to the COG segment.  Other intangibles consisted of the following:

(THOUSANDS OF DOLLARS)	MARCH 30, 2013						DECEMBER 29, 2012
	GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET		GROSS CARRYING AMOUNT		ACCUMULATED AMORTIZATION		OTHER INTANGIBLES, NET
Amortized:
Trademarks	$	9,602	$	9,210	$	392	$	9,542	$	9,163	$	379
Patents		3,684		3,359		325		3,642		3,334		308
Customer relationships		3,170		2,264		906		3,170		2,151		1,019
	$	16,456	$	14,833	$	1,623	$	16,354	$	14,648	$	1,706
Not Amortized:
Trade names						6,900						6,900
Intangibles, Net					$	8,523					$	8,606

Amortization expense for the three month period ended March 30, 2013 was approximately $0.2 million.  The estimated future amortization expense for other intangibles remaining as of March 30, 2013 is as follows:

(THOUSANDS OF DOLLARS)	2013	2014	2015	2016	2017	THEREAFTER
	$     537	$     667	$     267	$     108	$       44	$                    -

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Short-Term Investments

3 Months Ended

Mar. 30, 2013

Short-Term Investments [Abstract]

Short-Term Investments

NOTE J - Short-Term Investments

At March 30, 2013, the Company had short-term investments of $0.3 million classified as trading securities.  Realized and unrealized gains or losses on these short-term investments are included in other income.  The amount of unrealized gain on these short-term investments was not material at March 30, 2013.  

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Goodwill And Other Intangible Assets (Schedule Of Other Intangibles) (Details) (USD $) In Thousands, unless otherwise specified	Mar. 30, 2013	Dec. 29, 2012
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
GROSS CARRYING AMOUNT, Amortized	$ 16,456	$ 16,354
ACCUMULATED AMORTIZATION, Amortized	14,833	14,648
OTHER INTANGIBLES, NET, Amortized	1,623	1,706
OTHER INTANGIBLES, NET	8,523	8,606
Trademarks [Member]
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
GROSS CARRYING AMOUNT, Amortized	9,602	9,542
ACCUMULATED AMORTIZATION, Amortized	9,210	9,163
OTHER INTANGIBLES, NET, Amortized	392	379
Patents [Member]
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
GROSS CARRYING AMOUNT, Amortized	3,684	3,642
ACCUMULATED AMORTIZATION, Amortized	3,359	3,334
OTHER INTANGIBLES, NET, Amortized	325	308
Customer Relationships [Member]
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
GROSS CARRYING AMOUNT, Amortized	3,170	3,170
ACCUMULATED AMORTIZATION, Amortized	2,264	2,151
OTHER INTANGIBLES, NET, Amortized	906	1,019
Trade Names [Member]
Finite and Indefinite-lived Intangible Assets by Major Class [Line Items]
OTHER INTANGIBLES, NET, Not Amortized	$ 6,900	$ 6,900

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Warranty Costs (Tables)

3 Months Ended

Mar. 30, 2013

Warranty Costs [Abstract]

Schedule Of Activity Reflects In Aggregate Accrued Warranty Costs

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Accrued Warranty Costs - Beginning of Period	$	1,712	$	1,892
Warranty costs paid		(100)		(135)
Warranty costs accrued		89		174
Accrued Warranty Costs - End of Period	$	1,701	$	1,931

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Income Taxes (Details)	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Income Taxes [Abstract]
Percentage of effective tax rate	34.00%	31.80%

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Condensed Consolidated Statements Of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net Income	$ 1,640	$ 1,538
Other Comprehensive Income (Loss):
Foreign currency translation adjustments	758	206
Unrealized loss on interest rate swap, net of tax	(23)	(3)
Pension liability adjustment, net of tax	(51)	(38)
Comprehensive Income	$ 2,324	$ 1,703

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Segment Information

3 Months Ended

Mar. 30, 2013

Segment Information [Abstract]

Segment Information

NOTE D - Segment Information
The Company has two reportable business segments: Cross Accessory Division ("CAD") and Cross Optical Group ("COG").  The Company evaluates segment performance based upon operating profit or loss.  Following is the segment information for the Company:

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Revenues from External Customers:
CAD	$	20,565	$	21,929
COG		23,836		20,017
Total	$	44,401	$	41,946
Depreciation and Amortization:
CAD	$	1,050	$	1,143
COG		444		389
Total	$	1,494	$	1,532
Operating (Loss) Income:
CAD	$	(1,066)	$	(462)
COG		3,684		2,849
Total	$	2,618	$	2,387
Total Interest and Other Expense:	$	(132)	$	(132)
Total Income Before Income Taxes:	$	2,486	$	2,255
Expenditure for Long-Lived Assets:
CAD	$	620	$	522
COG		417		356
Total	$	1,037	$	878
	MARCH 30,		DECEMBER 29,
	2013		2012
Segment Assets:
CAD	$	87,691	$	101,909
COG		64,594		59,430
Total	$	152,285	$	161,339
Goodwill:
CAD	$	-	$	-
COG		15,279		15,279
Total	$	15,279	$	15,279

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Segment Information (Schedule Of Segment Information) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013 segment	Mar. 31, 2012	Dec. 29, 2012
Segment Reporting Information [Line Items]
Number of reportable business segments	2
Revenues from External Customers	$ 44,401	$ 41,946
Depreciation and Amortization	1,494	1,532
Operating Income (Loss)	2,618	2,387
Total Interest and Other Expense	(132)	(132)
Total Income Before Income Taxes	2,486	2,255
Expenditure for Long-Lived Assets	1,037	878
Segment Assets	152,285		161,339
Goodwill	15,279		15,279
Cross Accessory Division [Member]
Segment Reporting Information [Line Items]
Revenues from External Customers	20,565	21,929
Depreciation and Amortization	1,050	1,143
Operating Income (Loss)	(1,066)	(462)
Expenditure for Long-Lived Assets	620	522
Segment Assets	87,691		101,909
Cross Optical Group [Member]
Segment Reporting Information [Line Items]
Revenues from External Customers	23,836	20,017
Depreciation and Amortization	444	389
Operating Income (Loss)	3,684	2,849
Expenditure for Long-Lived Assets	417	356
Segment Assets	64,594		59,430
Goodwill	$ 15,279		$ 15,279

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Financial Instruments (Effective Portion Of Pre-Tax Gains (Losses) On Derivative Instruments) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 30, 2013	Mar. 31, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax gains (losses) on derivative instruments	$ 144	$ 182
Fair Value Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax gains (losses) on derivative instruments	50	182
Cash Flow Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion recognized in other comprehensive income	72	31
Effective portion reclassified from other comprehensive income	$ (36)	$ (35)

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Segment Information (Tables)

3 Months Ended

Mar. 30, 2013

Segment Information [Abstract]

Schedule Of Segment Information

(THOUSANDS OF DOLLARS)	THREE MONTHS ENDED
	MARCH 30,		MARCH 31,
	2013		2012
Revenues from External Customers:
CAD	$	20,565	$	21,929
COG		23,836		20,017
Total	$	44,401	$	41,946
Depreciation and Amortization:
CAD	$	1,050	$	1,143
COG		444		389
Total	$	1,494	$	1,532
Operating (Loss) Income:
CAD	$	(1,066)	$	(462)
COG		3,684		2,849
Total	$	2,618	$	2,387
Total Interest and Other Expense:	$	(132)	$	(132)
Total Income Before Income Taxes:	$	2,486	$	2,255
Expenditure for Long-Lived Assets:
CAD	$	620	$	522
COG		417		356
Total	$	1,037	$	878
	MARCH 30,		DECEMBER 29,
	2013		2012
Segment Assets:
CAD	$	87,691	$	101,909
COG		64,594		59,430
Total	$	152,285	$	161,339
Goodwill:
CAD	$	-	$	-
COG		15,279		15,279
Total	$	15,279	$	15,279