Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,296,900 $ 1,880,916
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,143,272 1,058,654
Share based compensation 240,485 (50,702)
Deferred taxes 278,601 82,818
Change in fair value of acquisition-related contingent consideration   (342,834)
Loss on sale of assets 136,131 44,677
Excess tax benefit from share-based payments (75,425) (13,562)
Changes in assets and liabilities:    
Trade receivables 3,743,374 (6,543,186)
Inventories (1,934,942) (5,605,959)
Prepaid income taxes 397,360 2,126,336
Other assets 135,705 228,920
Accounts payable 2,079,869 (3,019,181)
Accrued compensation and benefits (12,258) 340,746
Other accrued liabilities 127,808 248,973
Income taxes payable (3,753) 284,445
Net cash provided by (used in) operating activities 7,553,127 (9,278,939)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (2,495,463) (1,306,581)
Purchases of investments (9,872,086) (2,814,894)
Proceeds from the sale of fixed assets 15,993 36,184
Proceeds from the sale of investments 3,020,000 8,623,000
Net cash (used in) provided by investing activities (9,331,556) 4,537,709
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (2,800,528) (1,363,527)
Mortgage principal payments (240,684) (224,838)
Proceeds from issuance of common stock 180,394 206,413
Excess tax benefit from share-based payments 75,425 13,562
Payment of contingent consideration related to acquisition (565,647) (161,060)
Purchase of common stock (2,161)  
Net cash used in financing activities (3,353,201) (1,529,450)
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH 24,942 (68,810)
NET DECREASE IN CASH AND CASH EQUIVALENTS (5,106,688) (6,339,490)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 20,059,120 17,869,712
CASH AND CASH EQUIVALENTS AT END OF PERIOD 14,952,432 11,530,222
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid (refunded) 30,763 (1,421,106)
Interest paid 41,046 53,733
Dividends declared not paid 1,419,807 1,363,795
Capital expenditures in accounts payable $ 50,871