Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 10,443,274 $ 9,812,737
Investments 5,805,276 5,228,668
Trade accounts receivable, less allowance for doubtful accounts of $77,000 and $123,000, respectively 14,552,191 17,849,207
Inventories 22,204,902 24,985,560
Prepaid income taxes 1,400,118 2,972,271
Other current assets 967,332 1,041,303
TOTAL CURRENT ASSETS 55,373,093 61,889,746
PROPERTY, PLANT AND EQUIPMENT, net 15,719,403 17,468,420
OTHER ASSETS:    
Investments   6,293,505
Goodwill 1,462,503 1,462,503
Other assets 622,017 802,056
TOTAL OTHER ASSETS 2,084,520 8,558,064
TOTAL ASSETS 73,177,016 87,916,230
CURRENT LIABILITIES:    
Current portion of long-term debt   103,603
Accounts payable 6,953,710 8,373,292
Accrued compensation and benefits 2,149,973 3,050,822
Accrued consideration   442,234
Other accrued liabilities 1,851,938 1,996,609
Dividends payable 412,542 1,474,892
TOTAL CURRENT LIABILITIES 11,368,163 15,441,452
LONG TERM LIABILITIES:    
Long-term compensation plans 16,299  
Uncertain tax positions 106,864 102,633
Deferred income taxes 52,998 61,453
Pension liabilities   126,001
TOTAL LONG-TERM LIABILITIES 176,161 290,087
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; 8,877,379 and 8,754,550 shares issued and outstanding, respectively 443,869 437,727
Additional paid-in capital 41,279,281 40,129,285
Retained earnings 20,596,203 32,284,061
Accumulated other comprehensive loss (686,661) (666,382)
TOTAL STOCKHOLDERS' EQUITY 61,632,692 72,184,691
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 73,177,016 $ 87,916,230