Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 22,515,710 $ 16,787,558
Investments 18,635,601 21,698,905
Trade accounts receivable, less allowance for doubtful accounts of $175,000 and $500,000, respectively 14,461,168 17,544,136
Inventories 25,986,003 24,498,935
Prepaid income taxes 3,893,003 296,586
Other current assets 999,863 908,102
Deferred income taxes 3,455,047 4,469,941
TOTAL CURRENT ASSETS 89,946,395 86,204,163
PROPERTY, PLANT AND EQUIPMENT, net 14,019,019 13,214,067
OTHER ASSETS:    
Investments 4,883,510 4,588,267
Goodwill 5,990,571 4,560,217
Funded pension assets 905,552 349,575
Other assets 913,869 153,938
TOTAL OTHER ASSETS 12,693,502 9,651,997
TOTAL ASSETS 116,658,916 109,070,227
LIABILITIES AND STOCKHOLDERS' EQUITY    
Current portion of long-term debt 427,345 399,209
Accounts payable 4,398,848 5,385,558
Accrued compensation and benefits 5,870,000 3,951,401
Accrued consideration 1,002,623  
Other accrued liabilities 2,388,867 1,669,776
Dividends payable 1,299,963 1,263,434
TOTAL CURRENT LIABILITIES 15,387,646 12,669,378
LONG TERM LIABILITIES:    
Long-term compensation plans 283,075 1,738,105
Uncertain tax positions 405,673 678,395
Deferred income taxes 1,476,969 585,317
Long term debt - mortgage payable 1,574,993 2,002,339
TOTAL LONG-TERM LIABILITIES 3,740,710 5,004,156
COMMITMENTS AND CONTINGENCIES (Footnote 7)      
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; 8,466,774 and 8,422,890 shares issued and outstanding, respectively 423,339 421,144
Additional paid-in capital 35,533,273 34,491,370
Retained earnings 61,466,342 56,769,816
Accumulated other comprehensive income 107,606 (285,637)
TOTAL STOCKHOLDERS' EQUITY 97,530,560 91,396,693
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 116,658,916 $ 109,070,227