Annual report [Section 13 and 15(d), not S-K Item 405]

Note 3 - Segment Reporting

v3.25.2
Note 3 - Segment Reporting
 12 Months Ended
Mar. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 3 – Segment Reporting

 

The Company’s operations are managed and reported to its Chief Executive Officer, the Company’s chief operating decision maker (“CODM”), on a consolidated basis. The Company operates primarily in one principal segment, infant, toddler and juvenile products. These products consist of infant and toddler bedding, diaper bags, bibs, toys and disposable products. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations, which requires the CODM to manage and evaluate the results of the Company in a consolidated manner to drive efficiencies and develop uniform strategies. Segment asset information is not used by the CODM to allocate resources.

 

As a single reportable segment entity, the Company’s segment performance measure is net income. The following table presents information about our reportable segment (in thousands):

 

 

2025

  

2024

  

Net sales

 $ 87,250   $ 87,632  

Less:

            

Cost of products sold

   65,985     64,632  

Marketing and administrative expenses

   18,690     16,105  

Goodwill impairment charge

   13,766     -  

Interest expense, net and other

   1,222     667  

Income tax expense (benefit)

   (3,057 )   1,334  

Segment net income

 $ (9,356 ) $ 4,894  

 

Included in the profit or loss measure above are the following: For the fiscal year ended March 30, 2025, depreciation expense was $704,000 and amortization expense, including $13.8 million of goodwill impairment, totaled $14.5 million, while for the fiscal year ended March 31, 2024, depreciation and amortization expenses were $835,000 and $601,000, respectively.