Note 16 - Operating Segment Information

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 16 – 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. No customer accounted for more than 10% of Company’s total net sales in 2020, 2019 and 2018. 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 Year Ended December 31, 2020:
Net sales	$	287,333	$	42,365	$	202,156	$	(5,157	)	$	526,697
Cost of goods sold		187,364		18,032		134,486		(1,950	)		337,932
Gross margin		99,969		24,333		67,670		(3,207	)		188,765
Selling and administrative expenses		83,005		15,294		41,423		(3,207	)		136,515
Other periodic pension cost		955		-		-		-			955
Gain on sale of property, plant and equipment		2,164		-		-		-			2,164
Interest expense		1,699		-		304		-			2,003
Income before taxes on income	$	16,474	$	9,039	$	25,943	$	-		$	51,456
Depreciation and amortization	$	5,845	$	923	$	1,364	$	-		$	8,132
Capital expenditures	$	9,988	$	1,578	$	291	$	-		$	11,857
Total assets	$	283,708	$	21,799	$	88,417	$	-		$	393,924

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Year Ended December 31, 2019:
Net sales	$	237,554	$	36,490	$	107,511	$	(4,854	)	$	376,701
Cost of goods sold		155,283		15,066		79,137		(1,714	)		247,772
Gross margin		82,271		21,424		28,374		(3,140	)		128,929
Selling and administrative expenses		73,003		13,642		23,777		(3,140	)		107,282
Other periodic pension cost		1,962		-		-		-			1,962
Interest expense		3,178		-		1,221		-			4,399
Income before taxes on income	$	4,128	$	7,782	$	3,376	$	-		$	15,286
Depreciation and amortization	$	5,975	$	963	$	1,334	$	-		$	8,272
Capital expenditures	$	8,150	$	1,095	$	427	$	-		$	9,672
Total assets	$	258,916	$	23,970	$	76,047	$	-		$	358,933

	Uniforms and Related Products		Remote Staffing Solutions		Promotional Products		Intersegment Eliminations			Total
As of and For the Year Ended December 31, 2018:
Net sales	$	238,165	$	31,311	$	80,913	$	(4,039	)	$	346,350
Cost of goods sold		154,437		13,404		58,242		(1,430	)		224,653
Gross margin		83,728		17,907		22,671		(2,609	)		121,697
Selling and administrative expenses		68,848		11,160		19,311		(2,609	)		96,710
Other periodic pension cost		385		-		-		-			385
Interest expense		2,019		-		1,188		-			3,207
Income before taxes on income	$	12,476	$	6,747	$	2,172	$	-		$	21,395
Depreciation and amortization	$	5,611	$	990	$	1,299	$	-		$	7,900
Capital expenditures	$	2,794	$	1,581	$	494	$	-		$	4,869
Total assets	$	254,138	$	19,717	$	61,231	$	-		$	335,086