| Segment Information |
5. Segment Information The Company aligns its businesses into three reportable business segments based on geographical location. This segment structure reflects (i) the manner in which the Chief Operating Decision Maker (“CODM”), who is the Company’s Chief Executive Officer, regularly assesses information for decision-making purposes, including the allocation of resources, and (ii) how the Company operates its businesses, assesses performance, and communicates results and strategy, among other items, to the Board and its stockholders. The Company’s reportable business segments consist of: (1) United States; (2) Canada; and (3) Europe. As described below, the activities of the Company’s Asian operations are closely linked to those of the U.S. operations; accordingly, the Company’s CODM reviews the financial results of both on a consolidated basis, and the results of the Asian operations have been aggregated with the results of the United States operations to form one reportable segment called the “United States segment” or “U.S. segment”. Each reportable segment derives its revenue from the sales of i) first aid and medical products and ii) cutting and sharpening tools to school, home, office, hardware, sporting and industrial markets. The Company's CODM evaluates the performance of each operating segment based on segment revenues and operating income. Segment revenues are defined as total revenues, excluding inter-segment revenue. Segment operating earnings are defined as segment revenues, less cost of goods sold and operating expenses. Assets are reviewed by the CODM on a consolidated basis and therefore are not presented by reportable business segment. The following table sets forth certain financial data by segment for the three and six months ended June 30, 2025 and 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
(amounts in 000's) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
|
Canada |
|
|
Europe |
|
|
Total |
|
Net Sales |
|
$ |
44,991 |
|
|
$ |
5,198 |
|
|
$ |
3,807 |
|
|
$ |
53,996 |
|
Less: Segment cost of sales |
|
|
26,290 |
|
|
|
2,988 |
|
|
|
2,569 |
|
|
|
31,847 |
|
Less: Segment selling, general, and administrative expenses |
|
|
13,087 |
|
|
|
1,338 |
|
|
|
1,334 |
|
|
|
15,759 |
|
Segment operating income |
|
$ |
5,614 |
|
|
$ |
872 |
|
|
$ |
(96 |
) |
|
$ |
6,390 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(430 |
) |
Interest income |
|
|
|
|
|
|
|
|
|
|
|
29 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
99 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
6,088 |
|
Assets |
|
|
147,894 |
|
|
|
11,864 |
|
|
|
11,111 |
|
|
|
170,868 |
|
Additions to property, plant and equipment |
|
|
1,596 |
|
|
|
12 |
|
|
|
12 |
|
|
|
1,620 |
|
Depreciation and amortization |
|
|
1,478 |
|
|
|
31 |
|
|
|
14 |
|
|
|
1,523 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
(amounts in 000's) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
|
Canada |
|
|
Europe |
|
|
Total |
|
Net Sales |
|
$ |
47,455 |
|
|
$ |
4,061 |
|
|
$ |
3,909 |
|
|
$ |
55,425 |
|
Less: Segment cost of sales |
|
|
27,990 |
|
|
|
2,266 |
|
|
|
2,542 |
|
|
|
32,798 |
|
Less: Segment selling, general, and administrative expenses |
|
|
13,930 |
|
|
|
1,092 |
|
|
|
1,230 |
|
|
|
16,252 |
|
Segment operating income |
|
$ |
5,535 |
|
|
$ |
703 |
|
|
$ |
137 |
|
|
$ |
6,375 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(578 |
) |
Interest income |
|
|
|
|
|
|
|
|
|
|
|
39 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
28 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
5,864 |
|
Assets |
|
|
152,098 |
|
|
|
12,027 |
|
|
|
9,416 |
|
|
|
173,541 |
|
Additions to property, plant and equipment |
|
|
2,366 |
|
|
|
97 |
|
|
|
25 |
|
|
|
2,488 |
|
Depreciation and amortization |
|
|
1,373 |
|
|
|
90 |
|
|
|
15 |
|
|
|
1,478 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six months ended June 30, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
(amounts in 000's) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
|
Canada |
|
|
Europe |
|
|
Total |
|
Net Sales |
|
$ |
84,113 |
|
|
$ |
8,383 |
|
|
$ |
7,458 |
|
|
$ |
99,954 |
|
Less: Segment cost of sales |
|
|
49,990 |
|
|
|
4,973 |
|
|
|
4,925 |
|
|
|
59,888 |
|
Less: Segment selling, general, and administrative expenses |
|
|
26,150 |
|
|
|
2,497 |
|
|
|
2,603 |
|
|
|
31,250 |
|
Segment operating income |
|
$ |
7,973 |
|
|
$ |
913 |
|
|
$ |
(70 |
) |
|
$ |
8,816 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(857 |
) |
Interest income |
|
|
|
|
|
|
|
|
|
|
|
59 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
188 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
8,206 |
|
Assets |
|
|
147,894 |
|
|
|
11,864 |
|
|
|
11,111 |
|
|
|
170,868 |
|
Additions to property, plant and equipment |
|
|
2,932 |
|
|
|
30 |
|
|
|
11 |
|
|
|
2,973 |
|
Depreciation and amortization |
|
|
2,922 |
|
|
|
75 |
|
|
|
27 |
|
|
|
3,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six months ended June 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
(amounts in 000's) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
|
Canada |
|
|
Europe |
|
|
Total |
|
Net Sales |
|
$ |
85,448 |
|
|
$ |
7,098 |
|
|
$ |
7,836 |
|
|
$ |
100,382 |
|
Less: Segment cost of sales |
|
|
50,970 |
|
|
|
4,266 |
|
|
|
5,122 |
|
|
|
60,358 |
|
Less: Segment selling, general, and administrative expenses |
|
|
26,605 |
|
|
|
2,088 |
|
|
|
2,397 |
|
|
|
31,090 |
|
Segment operating income |
|
$ |
7,873 |
|
|
$ |
744 |
|
|
$ |
317 |
|
|
$ |
8,934 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(1,054 |
) |
Interest income |
|
|
|
|
|
|
|
|
|
|
|
72 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
72 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
8,024 |
|
Assets |
|
|
152,098 |
|
|
|
12,027 |
|
|
|
9,416 |
|
|
|
173,541 |
|
Additions to property, plant and equipment |
|
|
3,852 |
|
|
|
176 |
|
|
|
73 |
|
|
|
4,101 |
|
Depreciation and amortization |
|
|
2,716 |
|
|
|
199 |
|
|
|
28 |
|
|
|
2,943 |
|
|