Basis Of Presentation

9 Months Ended

Sep. 28, 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 Regulation S-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 September 28, 2013, the results of operations and comprehensive income (loss) for the three-month and nine-month periods ended September 28, 2013 and September 29, 2012, and the cash flows for the nine-month periods ended September 28, 2013 and September 29, 2012.  The results of operations for the nine-month period ended September 28, 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 Saturday closest to December 31, and consists of 13 week fiscal quarters.

Subsequent to the September 6, 2013 divestiture of the Cross Accessory Division (“CAD”), the A. T. Cross Company renamed itself Costa Inc. (“the Company”).  Costa Inc. trades on the NASDAQ stock exchange under the ticker symbol ATX. The Company now operates as one segment in the competitive sunglass business.  TheCompany designs, manufactures and markets high-quality, high-performance polarized sunglasses under the brand names Costa and Native.  The Company typically records its highest sales and operating income in the second quarter of the fiscal year.