Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 8,254,456 $ 9,812,737
Investments 8,605,825 5,228,668
Trade accounts receivable, less allowance for doubtful accounts of $80,000 and $123,000, respectively 17,195,626 17,849,207
Inventories 26,776,642 24,985,560
Prepaid income taxes 2,997,161 2,972,271
Other current assets 1,764,435 1,041,303
TOTAL CURRENT ASSETS 65,594,145 61,889,746
PROPERTY, PLANT AND EQUIPMENT, net 16,615,954 17,468,420
OTHER ASSETS:    
Investments 1,449,790 6,293,505
Goodwill 1,462,503 1,462,503
Other assets 823,992 802,056
TOTAL OTHER ASSETS 3,736,285 8,558,064
TOTAL ASSETS 85,946,384 87,916,230
CURRENT LIABILITIES:    
Current portion of long-term debt   103,603
Line of credit borrowings 3,100,000  
Accounts payable 9,942,953 8,373,292
Accrued compensation and benefits 3,693,954 3,050,822
Accrued consideration 122,005 442,234
Other accrued liabilities 2,089,874 1,996,609
Dividends payable 1,503,034 1,474,892
TOTAL CURRENT LIABILITIES 20,451,820 15,441,452
LONG TERM LIABILITIES:    
Long-term compensation plans 69,719  
Uncertain tax positions 113,566 102,633
Deferred income taxes 40,926 61,453
Pension liabilities   126,001
TOTAL LONG-TERM LIABILITIES 224,211 290,087
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; 8,849,236 and 8,754,550 shares issued and outstanding, respectively 442,462 437,727
Additional paid-in capital 41,058,680 40,129,285
Retained earnings 24,392,000 32,284,061
Accumulated other comprehensive loss (622,789) (666,382)
TOTAL STOCKHOLDERS' EQUITY 65,270,353 72,184,691
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 85,946,384 $ 87,916,230