Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 7,972,407 $ 13,736,857
Investments 2,884,792 4,602,717
Trade accounts receivable, less allowance for doubtful accounts of $147,000 and $22,000, respectively 17,353,120 13,839,662
Inventories 29,320,866 31,109,653
Prepaid income taxes 4,813,137 2,317,688
Other current assets 873,443 1,050,000
Deferred income taxes 3,175,986 3,249,164
TOTAL CURRENT ASSETS 66,393,751 69,905,741
PROPERTY, PLANT AND EQUIPMENT, net 18,218,327 18,153,152
OTHER ASSETS:    
Investments 10,576,393 11,540,261
Goodwill 1,455,784  
Funded pension assets 147,665 172,405
Other assets 779,112 514,676
TOTAL OTHER ASSETS 12,958,954 12,227,342
TOTAL ASSETS 97,571,032 100,286,235
CURRENT LIABILITIES:    
Current portion of long-term debt 370,175 524,220
Line of credit borrowings 3,100,000  
Accounts payable 6,570,684 5,180,631
Accrued compensation and benefits 3,584,913 3,696,930
Accrued consideration 462,870  
Other accrued liabilities 1,895,580 2,146,582
Dividends payable 1,455,216 1,446,498
TOTAL CURRENT LIABILITIES 17,439,438 12,994,861
LONG TERM LIABILITIES:    
Uncertain tax positions 78,372 77,279
Deferred income taxes 1,039,587 1,089,994
Long term debt - mortgage payable   103,603
TOTAL LONG-TERM LIABILITIES $ 1,117,959 $ 1,270,876
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; 8,739,858 and 8,654,756 shares issued and outstanding, respectively $ 436,993 $ 432,738
Additional paid-in capital 39,709,299 38,593,230
Retained earnings 39,565,581 47,689,688
Accumulated other comprehensive loss (698,238) (695,158)
TOTAL STOCKHOLDERS' EQUITY 79,013,635 86,020,498
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 97,571,032 $ 100,286,235