Note 11 - Segment Information

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

1

1

. SEGMENT INFORMATION

We operate in

two

segments, based on management responsibility and store location: North America and International. Our reportable operating segments have been determined as separately identifiable business units, and we measure segment earnings as operating earnings, defined as income before interest and income taxes.

	North America			International			Total
For the year ended December 31, 2018
Net Sales	$	79,553,353		$	3,544,834		$	83,098,187
Gross Profit		48,375,877			2,204,314			50,580,191
Operating earnings		4,182,969			(354,506	)		3,828,463
Interest expense		304,957			-			304,957
Other (income) expense, net		(150,067	)		(30,124	)		(180,191	)
Income before income taxes		4,028,079			(324,382	)		3,703,697
Depreciation and amortization		1,696,656			100,625			1,797,281
Fixed asset additions		1,000,263			91,170			1,091,433
Total assets	$	71,578,634		$	4,561,500		$	76,140,134
For the year ended December 31, 2017
Net Sales	$	78,568,219		$	3,753,049		$	82,321,268
Gross Profit		49,889,888			2,223,941			52,113,829
Operating earnings		7,498,817			(256,995	)		7,241,822
Interest expense		205,555			-			205,555
Other expense, net		(135,011	)		8,154			(126,857	)
Income before income taxes		7,428,370			(265,246	)		7,163,124
Depreciation and amortization		1,790,421			84,681			1,875,102
Fixed asset additions		1,666,171			23,474			1,689,645
Total assets	$	70,302,116		$	4,612,480		$	74,914,596
For the year ended December 31, 2016
Net Sales	$	79,041,920		$	3,882,072		$	82,923,992
Gross Profit		49,315,003			2,398,239			51,713,242
Operating earnings		10,224,773			75,958			10,300,731
Interest expense		155,189			-			155,189
Other expense, net		(35,290	)		(21,997	)		(57,287	)
Income before income taxes		10,104,873			97,956			10,202,829
Depreciation and amortization		1,631,534			87,620			1,719,154
Fixed asset additions		1,609,829			87,875			1,697,704
Total assets	$	66,502,432		$	4,150,288		$	70,652,720

Net sales by geographic areas were as follows:

	201 8		201 7		201 6
United States	$	71,443,246	$	70,453,773	$	70,886,401
Canada		7,120,452		7,224,894		7,199,155
All other countries		4,534,489		4,642,601		4,838,436
	$	83,098,187	$	82,321,268	$	82,923,992

Geographic sales information is based on the location of the customer. Except for Canada, we had

no

sales to any single foreign country that was material to our consolidated net sales in

2018,

2017,

or

2016.

We do

not

have any significant long-lived assets outside of the United States.