Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,880,916 $ 1,026,813
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,058,654 1,124,254
Share-based compensation (50,702) 223,062
Deferred taxes 82,818 68,375
Change in fair value of acquisition-related contingent consideration (342,834)  
Loss/(gain) on sale of assets 44,677 (89,542)
Excess tax benefit from share based payments (13,562) (67,932)
Changes in assets and liabilities:    
Trade receivables (6,543,186) (790,154)
Inventories (5,605,959) (5,060,313)
Prepaid income taxes 2,126,336 313,120
Other assets 228,920 368,680
Accounts payable (3,019,181) 818,696
Accrued compensation and benefits 340,746 (2,526,956)
Other accrued liabilities 248,973 (323,490)
Income taxes payable 284,445 84,710
Net cash used in operating activities (9,278,939) (4,830,677)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,306,581) (1,213,458)
Purchases of investments (2,814,894) (8,734,935)
Proceeds from the sale of fixed assets 36,184 97,222
Proceeds from the sale of investments 8,623,000 9,440,039
Net cash provided by (used in) investing activities 4,537,709 (411,132)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (1,363,527) (2,639,201)
Mortgage principal payments (224,838) (210,035)
Proceeds from issuance of common stock 206,413 219,978
Excess tax benefit from stock based payments 13,562 67,932
Payment of contingent consideration related to acquisition (161,060) (43,639)
Purchase of common stock   (207,102)
Net cash used in financing activities (1,529,450) (2,812,067)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH (68,810) 3,514
NET DECREASE IN CASH AND CASH EQUIVALENTS (6,339,490) (8,050,362)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 17,869,712 22,515,710
CASH AND CASH EQUIVALENTS AT END OF YEAR 11,530,222 14,465,348
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes (refunded)/paid (1,421,106) 54,171
Interest paid 53,733 70,793
Dividends declared not paid $ 1,363,795 $ 1,366,082