Note 10 - Operating Segment Information

9 Months Ended

Sep. 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 September 30, 2021:
Net sales	$	61,890	$	18,040	$	45,243	$	(1,847	)	$	123,326
Cost of goods sold		39,708		7,555		31,092		(843	)		77,512
Gross margin		22,182		10,485		14,151		(1,004	)		45,814
Selling and administrative expenses		19,244		6,576		10,243		(1,004	)		35,059
Other periodic pension cost		459		-		-		-			459
Interest expense		309		-		11		-			320
Income before taxes on income	$	2,170	$	3,909	$	3,897	$	-		$	9,976
Depreciation and amortization	$	1,487	$	398	$	461	$	-		$	2,346
Capital expenditures	$	1,214	$	1,733	$	182	$	-		$	3,129
Total assets	$	289,028	$	28,062	$	105,087	$	-		$	422,177

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Three Months Ended September 30, 2020:
Net sales	$	73,234	$	11,636	$	44,176	$	(1,309	)	$	127,737
Cost of goods sold		48,715		4,653		27,424		(507	)		80,285
Gross margin		24,519		6,983		16,752		(802	)		47,452
Selling and administrative expenses		21,987		3,927		9,805		(802	)		34,917
Other periodic pension cost		212		-		-		-			212
Interest expense		210		-		29		-			239
Income before taxes on income	$	2,110	$	3,056	$	6,918	$	-		$	12,084
Depreciation and amortization	$	1,430	$	243	$	340	$	-		$	2,013
Capital expenditures	$	319	$	404	$	95	$	-		$	818
Total assets	$	269,776	$	22,719	$	74,743	$	-		$	367,238

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Nine Months Ended September 30, 2021:
Net sales	$	200,651	$	46,723	$	152,795	$	(5,209	)	$	394,960
Cost of goods sold		131,730		19,233		104,273		(2,291	)		252,945
Gross margin		68,921		27,490		48,522		(2,918	)		142,015
Selling and administrative expenses		58,046		16,860		32,088		(2,918	)		104,076
Other periodic pension cost		1,328		-		-		-			1,328
Pension plan termination charge		6,945		-		-		-			6,945
Interest expense		862		-		63		-			925
Income before taxes on income	$	1,740	$	10,630	$	16,371	$	-		$	28,741
Depreciation and amortization	$	4,373	$	1,014	$	1,332	$	-		$	6,719
Capital expenditures	$	11,125	$	2,849	$	481	$	-		$	14,455
Total assets	$	289,028	$	28,062	$	105,087	$	-		$	422,177

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Nine Months Ended September 30, 2020:
Net sales	$	209,178	$	30,187	$	145,810	$	(3,834	)	$	381,341
Cost of goods sold		135,324		12,880		97,748		(1,452	)		244,500
Gross margin		73,854		17,307		48,062		(2,382	)		136,841
Selling and administrative expenses		60,226		10,840		30,020		(2,382	)		98,704
Other periodic pension cost		830		-		-		-			830
Interest expense		1,420		-		312		-			1,732
Income before taxes on income	$	11,378	$	6,467	$	17,730	$	-		$	35,575
Depreciation and amortization	$	4,291	$	657	$	1,024	$	-		$	5,972
Capital expenditures	$	4,771	$	750	$	190	$	-		$	5,711
Total assets	$	269,776	$	22,719	$	74,743	$	-		$	367,238