Note 3 - Net Sales

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 3 – Net Sales:

The following table presents disaggregated revenue by operating segment for the periods presented (in thousands):

	Years Ended December 31,
	2024			2023
Branded Products Segment:
Branded products	$	353,271		$	342,456
Personal protective equipment		43			224
Total Branded Products Segment	$	353,314		$	342,680
Healthcare Apparel Segment:
Healthcare apparel	$	115,553		$	110,871
Personal protective equipment		3,638			3,007
Total Healthcare Apparel Segment	$	119,191		$	113,878
Contact Centers Segment:
Total Contact Centers Segment	$	96,949		$	91,500
Net intersegment eliminations		(3,778	)		(4,756	)
Consolidated Net Sales	$	565,676		$	543,302

Branded Products and Contact Center segments have a substantial number of customers, none of which accounted for more than 10% of either segment’s 2024 net sales. Our Healthcare Apparel segment has one customer who accounts for 10% of the segment’s 2024 net sales. 

The Company recognizes revenue when the customer takes control of the inventory, either upon shipment or when the material is made available for pick up. If the customer is deemed to take control of the inventory prior to pick up, the Company recognizes the revenue as a bill-and-hold transaction in accordance with Topic 606.  Sales under bill-and-hold arrangements totaled $33.6 million and $14.3 million, for the years ended  December 31, 2024 and 2023, respectively. 

Contract Assets and Contract Liabilities

The following table provides information about accounts receivable, contract assets and contract liabilities from contracts with customers (in thousands):

	December 31,
	2024		2023
Accounts receivable	$	95,092	$	103,494
Current contract assets		51,688		48,715
Current contract liabilities		2,833		5,346

Contract assets relate to goods produced without an alternative use for which the Company has an enforceable right to payment but which has not yet been invoiced to the customer. Accounts receivable, current contract assets, and current contract liabilities were $104.8 million, $53.0 million, and $2.2 million, respectively for the year ended December 31, 2022. The majority of the amounts included in contract assets on December 31, 2023 were transferred to accounts receivable during the year ended December 31, 2024. Contract liabilities relate to payments received in advance of the Company completing its performance under a contract. Contract liabilities are included in other current liabilities in our balance sheets. The contract liability balance as of December 31, 2023 was recognized into revenue during the twelve-months ended December 31, 2024