Note 3 - Business Segment Information

3 Months Ended

Sep. 30, 2012

Segment Reporting Disclosure [Text Block]

Note 3 - Business Segment Information

We sell our products through all major retail distribution channels throughout North America, including, without limitation, 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 include belts, small leather goods and bags, 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 2012 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 operating income to our consolidated operating loss (in thousands):

	Three Months Ended September 30
	2012			2011
Net sales:
Accessories	$	19,988		$	21,512
Gifts		5,883			5,231
	$	25,871		$	26,743
Segment operating income:
Accessories	$	4,266		$	4,524
Gifts		121			815
		4,387			5,339
Selling, general and administrative expenses		(5,062	)		(5,327	)
Depreciation and amortization		(483	)		(583	)
Operating loss	$	(1,158	)	$	(571	)