Note 3 - Business Segment Information

3 Months Ended

Sep. 30, 2011

Segment Reporting Disclosure [Text Block]

Note 3 - Business Segment Information

We sell our products through virtually all major retail distribution channels throughout North America, including mass merchants, national chain stores, department stores, specialty stores, catalog retailers, golf pro shops, sporting goods stores, and the retail exchange operations of the United States military.  Our business segments are based on product categories: (1) accessories, which includes belts and small leather goods and (2) gifts.  Each segment is measured by management based on income consisting of net sales less cost of goods sold, product distribution expenses, and royalties utilizing accounting policies consistent in all material respects with those described in Note 2 of the notes to consolidated financial statements included in our 2011 Annual Report on Form 10-K filed with the Securities and Exchange Commission.  No inter-segment revenue is recorded.  Assets, related depreciation and amortization, and selling, general and administrative expenses are not allocated to the segments.

The following table presents operating information by segment and reconciliation of segment income to our consolidated operating income or loss (in thousands):

	Three Months Ended
	September 30
	2011			2010
Net sales:
Accessories	$	21,512		$	26,363
Gifts		5,231			2,885
	$	26,743		$	29,248
Segment income:
Accessories	$	4,524		$	4,263
Gifts		815			282
		5,339			4,545
Selling, general and administrative expenses		(5,327	)		(6,229	)
Depreciation and amortization		(583	)		(645	)
Operating loss	$	(571	)	$	(2,329	)