Note 10 - Segment Information

3 Months Ended

Mar. 31, 2012

Segment Reporting Disclosure [Text Block]

10. Segment Information

The Company’s predominant business is the design, development and distribution of athletic footwear.  The Company has identified its footwear products business to be its only segment as substantially all of the Company’s revenues are from sales of footwear products.  The Company is organized into three geographic regions:  the United States, Europe, Middle East and Africa (“EMEA”) and Other International.  The Company’s Other International geographic region includes the Company’s operations in Asia.  The following tables summarize information by geographic region of the Company’s footwear segment (in thousands):

	Three Months Ended March 31,
	2012			2011
Revenues from unrelated entities (1):
United States	$	20,796		$	31,280
EMEA		31,059			23,485
Other International		17,447			17,676
Total revenues from unrelated entities	$	69,302		$	72,441
Inter-geographic revenues:
United States	$	2,607		$	1,248
EMEA		14			0
Other International		33			99
Total inter-geographic revenues	$	2,654		$	1,347
Total revenues:
United States	$	23,403		$	32,528
EMEA		31,073			23,485
Other International		17,480			17,775
Less inter-geographic revenues		(2,654	)		(1,347	)
Total revenues	$	69,302		$	72,441
Operating (loss)/profit:
United States	$	(6,654	)	$	(9,046	)
EMEA		2,108			(2,223	)
Other International		2,156			4,134
Less corporate expenses (2)		(3,341	)		(3,981	)
Eliminations		548			85
Total operating loss	$	(5,183	)	$	(11,031	)

	March 31, 2012		December 31, 2011
Long-lived assets (3):
United States	$	16,118	$	16,719
EMEA		1,560		1,519
Other International		1,224		1,355
Total long-lived assets	$	18,902	$	19,593

(1) Revenue is attributable to geographic regions based on the location of the Company’s subsidiaries.

(2) Corporate expenses include expenses such as salaries and related expenses for executive management and support departments such as accounting and treasury, information technology and legal which benefit the entire Company and are not segment/region specific.  The decrease in corporate expenses for the three months ended March 31, 2012 consisted of decreases in compensation and data processing.  The decrease in compensation expenses, which includes bonus/incentive related expenses and employee recruiting and relocation expenses, resulted mainly from a reduction in headcount, stock option compensation expenses and interest expense related to the deferred stock option plan which was terminated in October 2011.  The decrease in data processing expenses was a result of decreases in on-going maintenance expense for the Company’s SAP computer software system.

(3) Long-lived assets consist of property, plant and equipment, net.

During the three months ended March 31, 2012 and 2011, there were no customers that accounted for more than 10% of revenues.  At March 31, 2012, approximately 9% of accounts receivable was from one customer.  At December 31, 2011, approximately 10% of accounts receivable was from one customer.