Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v2.4.0.6
Condensed Consolidated Statements Of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 242,359 $ 55,078
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 485,793 584,690
Share-based compensation 177,167 111,044
Deferred taxes (89,101) 55,533
Change in fair value of acquisition-related contingent consideration 27,231  
Loss/(gain) on sale of assets 47,262 (20,572)
Changes in assets and liabilities:    
Trade receivables (3,707,328) 148,107
Inventories (3,309,289) (1,082,165)
Prepaid income taxes 111,201 (76,842)
Other assets (137,257) 132,159
Accounts payable (1,229,882) 9,451
Accrued compensation and benefits (350,808) (3,136,397)
Other accrued liabilities 255,243 (235,703)
Income taxes payable (5,499) 8,287
Net cash used in operating activities (7,482,908) (3,447,330)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (479,129) (681,099)
Purchases of investments (2,932,571) (2,007,701)
Acquisition of business   (43,639)
Proceeds from the sale of fixed assets 24,971 74,372
Proceeds from the sale of investments 4,115,000 4,359,039
Net cash provided by investing activities 728,271 1,700,972
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid   (1,269,737)
Mortgage principal payments (111,462) (104,123)
Proceeds from issuance of common stock 43,940 54,409
Payment of contingent consideration related to acquisition (161,060)  
Net cash used in financing activities (228,582) (1,319,451)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH (61,953) 25,584
NET DECREASE IN CASH AND CASH EQUIVALENTS (7,045,172) (3,040,225)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 17,869,712 22,515,710
CASH AND CASH EQUIVALENTS AT END OF YEAR 10,824,540 19,475,485
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid 116,297 62,934
Interest paid 26,261 35,822
Dividends declared not paid $ 1,363,795 $ 1,355,294