Segment Information

3 Months Ended

Apr. 30, 2013

SEGMENT INFORMATION

NOTE 3 – SEGMENT INFORMATION

The Company follows accounting guidance related to disclosures about segments of an enterprise and related information. This guidance requires disclosure of segment data based on how management makes decisions about allocating resources to segments and measuring their performance.

The Company conducts its business in two operating segments: Wholesale and Retail. The Company’s Wholesale segment includes the designing, manufacturing and distribution of quality watches, in addition to revenue generated from after sales service activities and shipping. The retail segment includes the Company’s outlet stores.

The Company divides its business into two major geographic locations: United States operations, and International, which includes the results of all other Company operations.The allocation of geographic revenue is based upon the location of the customer.The Company’s international operations were principally conducted in Europe, the Americas (excluding the United States), Asia and the Middle East and accounted for 17.4%, 11.4%, 8.2% and 9.2%, respectively, of the Company’s total net sales for the fiscal 2014 period.For the fiscal 2013 period, the Company’s international operations were principally conducted in Europe, the Americas (excluding the United States), Asia and the Middle East and accounted for 18.9%, 12.9%, 10.3% and 6.8%, respectively, of the Company’s total net sales. Substantially all of the Company’s international assets are located in Switzerland.

Operating Segment Data for the Three Months Ended April30, 2013 and 2012 (in thousands):

	Net Sales		OperatingIncome
	2013	2012	2013	2012
Wholesale	$99,976	$93,511	$8,854	$7,122
Retail	10,034	10,144	1,151	1,366
Consolidated total	$110,010	$103,655	$10,005	$8,488

	Total Assets
	April30, 2013	January31, 2013	April30, 2012
Wholesale	$495,861	$507,672	$474,460
Retail	19,518	18,690	18,580
Consolidated total	$515,379	$526,362	$493,040

Geographic Location Data for the Three Months Ended April30, 2013 and 2012 (in thousands):

	Net Sales		OperatingIncome / (Loss)
	2013	2012	2013	2012
United States	$58,477	$50,914	$2,435	($5,051)
International	51,533	52,741	7,570	13,539
Consolidated total	$110,010	$103,655	$10,005	$8,488

United States and International net sales are net of intercompany sales of $65.9 million and $55.1 million for the three months ended April30, 2013 and 2012, respectively.

	Total Assets
	April30, 2013	January31, 2013	April30, 2012
United States	$195,836	$208,273	$198,576
International	319,543	318,089	294,464
Consolidated total	$515,379	$526,362	$493,040

	Long-Lived Assets
	April30, 2013	January31, 2013	April30, 2012
United States	$25,938	$26,682	$27,425
International	20,351	17,819	6,142
Consolidated total	$46,289	$44,501	$33,567