1 unchanged sentence
The Company’s common stock is traded under the symbol “LCUT” on the NASDAQ Global Select Market (“NASDAQ”).
−Removed: At December 31, 2019, the Company estimates that there were approximately 1,900 record holders of the Company’s common stock.
+Added: At February 28, 2021, the Company estimates that there were approximately 2,095 record holders of the Company’s common stock.
The Company is authorized to issue 100 shares of Series A Preferred stock and 2,000,000 shares of Series B Preferred stock, none of which were issued or outstanding at December 31, 2020.
+Added: For a discussion of dividends paid by the Company in 2020 and 2019, refer to Item 7.
+Added: Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Dividends.
The Board of Directors currently intends to continue paying cash dividends for the foreseeable future, although the Board of Directors may in its discretion determine to modify or eliminate such dividends at any time.
PERFORMANCE GRAPH
−Removed: The following chart compares the cumulative total return on the Company’s common stock with the NASDAQ Market Index, the Company’s peer group and the Hemscott Group Index for Housewares & Accessories.
+Added: The following chart compares the cumulative total return on the Company’s common stock with the NASDAQ Market Index, the Company’s peer group, which is comprised of companies that we believe have comparable characteristics and are in the same industry or line-of-business, and the Hemscott Group Index for Housewares & Accessories.
The comparisons in this chart are required by the SEC and are not intended to forecast or be indicative of the possible future performance of the Company’s common stock.
12 unchanged sentences
A list of the companies included in the Company’s Hemscott Group Index will be furnished by the Company to any stockholder upon written request to the Chief Financial Officer of the Company.
−Removed: Peer issuers included in the peer group identified include, Acushnet Holdings Corp., Callaway Golf Co., Crocs, Inc., Delta Apparel, Inc., Hamilton Beach Brands Holding Co., Helen of Troy Ltd., JAKKS Pacific, Inc., Lands’ End, Inc., Libbey, Inc., Movado Group, Inc., Oxford Industries, Inc., The Buckle, Inc.
+Added: Peer issuers included in the peer group identified include, Acushnet Holdings Corp., Callaway Golf Co., Crocs, Inc., Delta Apparel, Inc., Hamilton Beach Brands Holding Co., Helen of Troy Ltd., JAKKS Pacific, Inc., Lands’ End, Inc., Movado Group, Inc., Oxford Industries, Inc., The Buckle, Inc.
and Tupperware Brands Corp.
9 unchanged sentences
end of period (2)
+Added: November 1 - November 30, 2020 2,751 $ 12.34 — $ 6,771,467
December 1 - December 31, 2020 12,574 $ 15.20 — $ 6,771,467
21 unchanged sentences
155,872 161,618 162,933 140,903 130,397
−Removed: Impairment of goodwill 42,990 2,205 — — —
+Added: Goodwill and other impairments 20,100 42,990 2,205 — —
Restructuring expenses 211 1,435 2,324 1,024 2,420
−Removed: (Loss) Income from operations
+Added: Income (loss) from operations
24,970 (23,395) 18,579 15,180 27,077
Interest expense (17,277) (20,780) (18,004) (4,291) (4,803)
−Removed: Financing expense — — — — (154)
+Added: Mark to market (loss) gain on interest rate derivatives (2,144) 402
Loss on early retirement of debt — — (66) (110) (272)
−Removed: (Loss) Income before income taxes and equity in earnings
+Added: Income (loss) before income taxes and equity in earnings
5,549 (43,773) 509 10,779 22,002
11 unchanged sentences
Weighted-average shares outstanding – diluted (5)
+Added: 20,860 20,597 19,452 14,955 14,549
Cash dividends declared per common share $ 0.17 $ 0.17 $ 0.17 $ 0.17 $ 0.17
14 unchanged sentences
(2) Prior to January 1, 2019, depreciation associated with certain tooling used to produce products was classified as selling, general and administrative expenses.
−Removed: The amount recorded in cost of sales for the year ended December 31, 2019 was $1.4 million.
−Removed: impact on the comparative periods presented is immaterial and therefore, the comparative periods have not been adjusted to reflect this change in accounting policy.
+Added: The amount recorded in cost of sales for the year ended December 31, 2020 and 2019 was $1.0 million and $1.4 million, respectively.
+Added: The impact on the comparative periods presented is immaterial and therefore, the comparative periods have not been adjusted to reflect this change in accounting policy.
(3) The 2016 period includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S.
−Removed: (4) In 2018 and 2015, the Company recorded a gain of $1.7 million and a loss of $0.7 million, respectively, related to adjustments to the fair value of certain contingent consideration.
−Removed: (5) The 2019 period reflects the adoption of ASU 2016-02, Leases (Topic 842) which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term.
+Added: (4) The 2018 period includes a gain of $1.7 million related to adjustments to the fair value of certain contingent consideration.
+Added: (5) The computations of weighted-average shares outstanding - diluted excludes stock options and other stock awards that if included would have been anti-dilutive.
+Added: (6) The 2019 and subsequent periods reflect the adoption of the Financial Accounting Standards Board's (“FASB”) Accounting Standard's Update No.
+Added: (“ASU”) 2016-02, Leases (Topic 842) (“ASU 2016-02”) which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term.
As a result, comparability to the prior years' current liabilities, working capital, and total assets is affected.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.