Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 9,812,737 $ 13,736,857
Investments 5,228,668 4,602,717
Trade accounts receivable, less allowance for doubtful accounts of $123,000 and $22,000, respectively 17,849,207 13,839,662
Inventories 24,985,560 31,109,653
Prepaid income taxes 2,972,271 2,317,688
Other current assets 1,041,303 1,050,000
Deferred income taxes   3,249,164
TOTAL CURRENT ASSETS 61,889,746 69,905,741
PROPERTY, PLANT AND EQUIPMENT, net 17,468,420 18,153,152
OTHER ASSETS:    
Investments 6,293,505 $ 11,540,261
Goodwill 1,462,503
Funded pension assets   $ 172,405
Other assets 802,056 514,676
TOTAL OTHER ASSETS 8,558,064 12,227,342
TOTAL ASSETS 87,916,230 100,286,235
CURRENT LIABILITIES:    
Current portion of long-term debt 103,603 524,220
Accounts payable 8,373,292 5,180,631
Accrued compensation and benefits 3,050,822 3,696,930
Accrued consideration 442,234  
Other accrued liabilities 1,996,609 2,146,582
Dividends payable 1,474,892 1,446,498
TOTAL CURRENT LIABILITIES 15,441,452 12,994,861
LONG TERM LIABILITIES:    
Uncertain tax positions 102,633 77,279
Deferred income taxes 61,453 1,089,994
Pension liabilities 126,001  
Long term debt - mortgage payable   103,603
TOTAL LONG-TERM LIABILITIES $ 290,087 $ 1,270,876
COMMITMENTS AND CONTINGENCIES (Footnote 8)
STOCKHOLDERS' EQUITY    
Preferred stock, par value $1.00 per share; 3,000,000 shares authorized; none issued
Common stock, par value $.05 per share; 30,000,000 shares authorized; 8,754,550 and 8,654,756 shares issued and outstanding, respectively $ 437,727 $ 432,738
Additional paid-in capital 40,129,285 38,593,230
Retained earnings 32,284,061 47,689,688
Accumulated other comprehensive loss (666,382) (695,158)
TOTAL STOCKHOLDERS' EQUITY 72,184,691 86,020,498
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 87,916,230 $ 100,286,235