Segment Information

3 Months Ended

Jan. 31, 2013

Segment Information

3. Segment Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company operates in the outdoor market of the action sports industry in which the Company designs, markets and distributes apparel, footwear, accessories and related products. The Company currently operates in four segments: the Americas, EMEA, and APAC, each of which sells a full range of the Company’s products, as well as Corporate Operations. The Americas segment, consisting of North, South and Central America, includes revenues primarily from the United States, Canada, Brazil and Mexico. The EMEA segment, consisting of Europe, the Middle East and Africa, includes revenues primarily from continental Europe, the United Kingdom, and South Africa. The APAC segment, consisting of Australia, New Zealand, and Asia, includes revenues primarily from Australia, Japan, New Zealand and Indonesia. Royalties earned from various licensees in other international territories are categorized in Corporate Operations, along with revenues from sourcing services to the Company’s licensees.

Information related to the Company’s operating segments for the first quarter of fiscal 2013 and 2012 is as follows:

In thousands	2013			2012
Revenues, net:
Americas	$	186,284		$	205,408
EMEA		171,174			168,874
APAC		72,876			74,593
Corporate Operations		684			746
	$	431,018		$	449,621
Gross profit:
Americas	$	80,859		$	87,928
EMEA		98,889			101,772
APAC		39,277			38,140
Corporate Operations		682			110
	$	219,707		$	227,950
SG&A expense:
Americas	$	88,074		$	89,481
EMEA		83,234			86,096
APAC		37,206			37,239
Corporate Operations		16,745			17,599
	$	225,259		$	230,415
Asset impairments:
Americas	$	1,621		$	—
EMEA		1,547			—
APAC		—			—
Corporate Operations		—			—
	$	3,168		$	—
Operating (loss)/income:
Americas	$	(8,836	)	$	(1,553	)
EMEA		14,108			15,676
APAC		2,071			901
Corporate Operations		(16,063	)		(17,489	)
	$	(8,720	)	$	(2,465	)
	January 31,			October 31,
	2013			2012
Identifiable assets:
Americas	$	544,895		$	576,179
EMEA		775,279			718,537
APAC		215,254			224,149
Corporate Operations		212,524			199,375
	$	1,747,952		$	1,718,240