Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 8,066,304 $ 12,453,663
Investments 6,105,626 5,540,744
Trade accounts receivable, less allowance for doubtful accounts of $120,000 and $106,000, respectively 11,473,993 12,183,217
Inventories 15,565,210 13,984,428
Prepaid income taxes 459,822 493,834
Other current assets 1,245,903 810,532
TOTAL CURRENT ASSETS 42,916,858 45,466,418
PROPERTY, PLANT AND EQUIPMENT, net 11,972,989 12,624,730
OTHER ASSETS:    
Deferred income taxes 38,136 38,136
Other assets, net 10,761 16,977
TOTAL OTHER ASSETS 48,897 55,113
TOTAL ASSETS 54,938,744 58,146,261
CURRENT LIABILITIES:    
Accounts payable 5,257,225 4,554,683
Accrued compensation and benefits 2,113,655 2,422,083
Other accrued liabilities 2,775,566 1,586,473
Dividends payable 368,222 397,151
TOTAL CURRENT LIABILITIES 10,514,668 8,960,390
LONG TERM LIABILITIES:    
Long-term compensation plans   11,079
Uncertain tax positions   4,065
TOTAL LONG-TERM LIABILITIES   15,144
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; 9,142,649 and 8,973,708 shares issued and outstanding, respectively 457,132 448,685
Additional paid-in capital 42,548,812 42,006,750
Retained earnings 2,104,414 7,328,671
Accumulated other comprehensive loss (686,282) (613,379)
TOTAL STOCKHOLDERS' EQUITY 44,424,076 49,170,727
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 54,938,744 $ 58,146,261