Note 11 - Operating Segment and Geographic Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 11 —    Operating Segment and Geographic Information

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its president and chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated net sales and consolidated net income to assess financial performance and allocate resources.

Reconciliation to net income:   

In Thousands	2024			2023
Net Sales
Sporting Goods	$	251,510		$	263,566
Total Net Sales	$	251,510		$	263,566
Sporting Goods Segment Operating Expenses:
Cost of products sold	$	189,306		$	201,795
Other operating expenses		39,116			44,275
Sporting Goods segment expenses		228,422			246,070
Sporting Goods Segment Operating Income		23,088			17,496
Unallocated corporate (expense) income		(3,084	)		315
Total Operating Income	$	20,004		$	17,811
Consolidated Other Income (Expense):
Interest expense		(2,302	)		(5,349	)
Other income		74			31
Total Income Before Income Taxes	$	17,776		$	12,493
Sporting Goods Segment Provision for Income Taxes		5,732			3,411
Unallocated benefit for taxes		(942	)		(747	)
Total Net Income	$	12,986		$	9,829
Identifiable Assets
Sporting Goods	$	217,941		$	246,875
Corporate		8,389			6,130
Total Identifiable Assets	$	226,330		$	253,005
Depreciation and Amortization
Sporting Goods	$	6,041		$	5,671
Unallocated corporate		--			--
Total Depreciation and Amortization	$	6,041		$	5,671
Capital Expenditures
Sporting Goods	$	2,038		$	2,085
Corporate		--			--
Total Capital Expenditures	$	2,038		$	2,085

There were no changes to the composition of segments in 2024. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

The Sporting Goods segment consists of home entertainment products such as table tennis tables and accessories; basketball goals; pickleball; pool tables and accessories; outdoor playsets; water sports; soccer and hockey tables; archery equipment and accessories; and fitness, arcade and darting products. Customers include retailers, dealers and wholesalers located throughout North America, Europe and the rest of the world.

All Other consists of general and administrative expenses not specifically related to the operating business segment.

The Company had net assets of $5.3 million located in Mexico as of December 31, 2023. There were no assets in Mexico as of December 31, 2024.

During 2024 and 2023, the Company had one customer that accounted for approximately 19% and 20%, respectively, of the Company’s revenues. During 2024 and 2023, the Company had another customer which accounted for approximately 13% and 11%, respectively, of the Company’s revenues.

As of December 31, 2024 and December 31, 2023, the Company had approximately 25% and 29%, respectively, of its total accounts receivable with one customer.

As of December 31, 2024, approximately 28 employees of the Company's labor force were covered by a collective bargaining agreement that expired on January 31, 2025. The impact is expected to be immaterial to operations.

Net sales are attributed to country based on location of customer. Net sales by geographic region/country were as follows:

In Thousands	2024		2023
United States	$	239,472	$	252,536
Canada		5,579		4,924
Australia		1,669		1,462
Other		4,790		4,644
	$	251,510	$	263,566