Note 10 - Operating Segment Information

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 10 – Operating Segment Information:

The Company classifies its businesses into three operating segments based on the types of products and services provided. The Uniforms and Related Products segment consists of sales to customers of uniforms and related items. The Remote Staffing Solutions segment consists of sales of staffing solutions. The Promotional Products segment consists of sales to customers of promotional products and other branded merchandise.

The Company evaluates the performance of each operating segment based on several factors of which the primary financial measures are net sales and income before taxes on income. Amounts for corporate expenses are included in the totals for the Uniforms and Related Products segment. 

The following tables set forth financial information related to the Company’s operating segments (in thousands):

	Uniforms and Related Products			Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Three Months Ended June 30, 2021:
Net sales	$	68,193		$	15,653	$	48,678	$	(1,737	)	$	130,787
Cost of goods sold		45,297			6,369		32,723		(760	)		83,629
Gross margin		22,896			9,284		15,955		(977	)		47,158
Selling and administrative expenses		18,420			5,562		10,901		(977	)		33,906
Other periodic pension cost		440			-		-		-			440
Pension plan termination charge		6,945			-		-		-			6,945
Interest expense		292			-		38		-			330
Income (loss) before taxes on income	$	(3,201	)	$	3,722	$	5,016	$	-		$	5,537
Depreciation and amortization	$	1,453		$	322	$	381	$	-		$	2,156
Capital expenditures	$	3,735		$	709	$	146	$	-		$	4,590
Total assets	$	290,774		$	26,346	$	111,626	$	-		$	428,746

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Three Months Ended June 30, 2020:
Net sales	$	75,842	$	9,351	$	75,456	$	(1,290	)	$	159,359
Cost of goods sold		47,937		4,239		51,725		(480	)		103,421
Gross margin		27,905		5,112		23,731		(810	)		55,938
Selling and administrative expenses		20,014		3,517		13,577		(810	)		36,298
Other periodic pension cost		333		-		-		-			333
Interest expense		338		-		95		-			433
Income before taxes on income	$	7,220	$	1,595	$	10,059	$	-		$	18,874
Depreciation and amortization	$	1,551	$	197	$	342	$	-		$	2,090
Capital expenditures	$	2,600	$	180	$	40	$	-		$	2,820
Total assets	$	252,503	$	21,030	$	84,637	$	-		$	358,170

	Uniforms and Related Products			Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Six Months Ended June 30, 2021:
Net sales	$	138,761		$	28,683	$	107,552	$	(3,362	)	$	271,634
Cost of goods sold		92,022			11,678		73,181		(1,448	)		175,433
Gross margin		46,739			17,005		34,371		(1,914	)		96,201
Selling and administrative expenses		38,802			10,284		21,845		(1,914	)		69,017
Other periodic pension cost		869			-		-		-			869
Pension plan termination charge		6,945			-		-		-			6,945
Interest expense		553			-		52		-			605
Income (loss) before taxes on income	$	(430	)	$	6,721	$	12,474	$	-		$	18,765
Depreciation and amortization	$	2,886		$	616	$	871	$	-		$	4,373
Capital expenditures	$	9,911		$	1,116	$	299	$	-		$	11,326
Total assets	$	290,774		$	26,346	$	111,626	$	-		$	428,746

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Six Months Ended June 30, 2020:
Net sales	$	135,944	$	18,551	$	101,634	$	(2,525	)	$	253,604
Cost of goods sold		86,609		8,227		70,324		(945	)		164,215
Gross margin		49,335		10,324		31,310		(1,580	)		89,389
Selling and administrative expenses		38,239		6,913		20,215		(1,580	)		63,787
Other periodic pension cost		618		-		-		-			618
Interest expense		1,210		-		283		-			1,493
Income before taxes on income	$	9,268	$	3,411	$	10,812	$	-		$	23,491
Depreciation and amortization	$	2,861	$	414	$	684	$	-		$	3,959
Capital expenditures	$	4,452	$	346	$	95	$	-		$	4,893
Total assets	$	252,503	$	21,030	$	84,637	$	-		$	358,170