| Segment reporting information by segment |
Intercompany transfers between operating segments are transacted at cost and have been eliminated within the segment amounts shown in the following table (in thousands). We expensed a one-time charge of $1.2 million in the fiscal 2013 first quarter for legal and professional fees related to the previously disclosed Audit Committee internal investigation that was completed during that quarter. This one time charge is included in the basics segment.
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Basics |
|
Branded |
|
Consolidated |
Fiscal Year 2013: |
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|
|
|
|
Net sales |
$ |
270,876 |
|
|
$ |
219,647 |
|
|
$ |
490,523 |
|
Segment operating income (loss) |
15,771 |
|
|
(1,868 |
) |
|
13,903 |
|
Segment assets ** |
161,716 |
|
|
150,194 |
|
|
311,910 |
|
Equity investment in joint venture |
2,909 |
|
|
— |
|
|
2,909 |
|
Purchases of property and equipment |
3,477 |
|
|
4,445 |
|
|
7,922 |
|
Depreciation and amortization |
5,149 |
|
|
2,866 |
|
|
8,015 |
|
|
|
|
|
|
|
Fiscal Year 2012: |
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|
|
|
|
Net sales |
$ |
254,718 |
|
|
$ |
235,205 |
|
|
$ |
489,923 |
|
Segment operating (loss) income |
(12,484 |
) |
|
6,262 |
|
|
(6,222 |
) |
Segment assets ** |
168,492 |
|
|
151,902 |
|
|
320,394 |
|
Equity investment in joint venture |
2,818 |
|
|
— |
|
|
2,818 |
|
Purchases of property and equipment |
3,828 |
|
|
2,798 |
|
|
6,626 |
|
Depreciation and amortization |
5,547 |
|
|
1,945 |
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|
7,492 |
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Fiscal Year 2011: |
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Net sales |
$ |
253,494 |
|
|
$ |
221,742 |
|
|
$ |
475,236 |
|
Gain on contingent consideration, net of impairment charges * |
— |
|
|
918 |
|
|
918 |
|
Segment operating income |
16,889 |
|
|
8,407 |
|
|
25,296 |
|
Segment assets ** |
162,932 |
|
|
148,933 |
|
|
311,865 |
|
Equity investment in joint venture |
2,664 |
|
|
— |
|
|
2,664 |
|
Purchases of property and equipment |
4,164 |
|
|
3,802 |
|
|
7,966 |
|
Depreciation and amortization |
4,912 |
|
|
2,345 |
|
|
7,257 |
|
______________________
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* |
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See Note 2(m) for further information regarding the remeasurement of contingent consideration and impairment testing of goodwill and intangibles. |
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** |
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All goodwill and intangibles on our balance sheet is included in the branded segment. |
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| Reconciliation of segment operating income to consolidated income before income taxes |
The following reconciles the segment operating income (loss) to the consolidated income (loss) before provision for (benefit from) income taxes (in thousands):
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Year Ended |
|
June 29,
2013 |
|
June 30,
2012
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|
July 2,
2011
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Segment operating income (loss) |
$ |
13,903 |
|
|
$ |
(6,222 |
) |
|
$ |
25,296 |
|
Unallocated interest expense |
3,997 |
|
|
4,132 |
|
|
2,616 |
|
Consolidated income (loss) before provision for (benefit from) income taxes |
$ |
9,906 |
|
|
$ |
(10,354 |
) |
|
$ |
22,680 |
|
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| Supplemental information regarding revenues by geographic area |
Supplemental information regarding our revenues by geographic area based on the location of the customer is as follows (in thousands):
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Year Ended |
|
June 29,
2013 |
|
June 30,
2012
|
|
|
July 2,
2011
|
|
United States |
$ |
480,981 |
|
|
$ |
484,419 |
|
|
$ |
470,909 |
|
Foreign |
9,542 |
|
|
5,504 |
|
|
4,327 |
|
Total net sales |
$ |
490,523 |
|
|
$ |
489,923 |
|
|
$ |
475,236 |
|
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| Summarized financial information by geographic area |
Summarized financial information by geographic area is as follows (in thousands):
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June 29, 2013 |
|
June 30, 2012 |
United States |
$ |
23,011 |
|
|
$ |
22,146 |
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|
|
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|
Honduras |
12,144 |
|
|
13,220 |
|
El Salvador |
3,163 |
|
|
2,979 |
|
Mexico |
1,128 |
|
|
1,080 |
|
All foreign countries |
16,435 |
|
|
17,279 |
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Total long-lived assets, excluding goodwill and intangibles |
$ |
39,446 |
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|
$ |
39,425 |
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