Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 20,059,120 $ 17,869,712
Investments 5,742,314 12,701,538
Trade accounts receivable, less allowance for doubtful accounts of $69,000 and $69,000, respectively 22,902,323 14,683,227
Inventories 29,111,656 33,752,710
Prepaid income taxes 1,381,502 2,113,926
Other current assets 716,784 783,352
Deferred income taxes 3,758,750 4,013,628
TOTAL CURRENT ASSETS 83,672,449 85,918,093
PROPERTY, PLANT AND EQUIPMENT, net 14,941,492 14,474,913
OTHER ASSETS:    
Investments 3,920,978 5,376,397
Goodwill    5,956,934
Funded pension assets 305,028  
Other assets 692,794 808,308
TOTAL OTHER ASSETS 4,918,800 12,141,639
TOTAL ASSETS 103,532,741 112,534,645
CURRENT LIABILITIES:    
Current portion of long-term debt 489,706 457,464
Accounts payable 4,894,869 9,237,233
Accrued compensation and benefits 3,927,728 3,044,864
Accrued consideration 558,801 770,041
Other accrued liabilities 1,765,428 1,670,009
Dividends payable 1,436,318 61,833
TOTAL CURRENT LIABILITIES 13,072,850 15,241,444
LONG TERM LIABILITIES:    
Long-term compensation plans   350,457
Uncertain tax positions 400,846 320,426
Deferred income taxes 809,179 1,381,785
Pension liabilities   127,611
Long term debt - mortgage payable 627,823 1,117,529
TOTAL LONG-TERM LIABILITIES 1,837,848 3,297,808
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; 8,553,320 and 8,474,896 shares issued and outstanding, respectively 427,666 423,745
Additional paid-in capital 37,110,671 36,404,518
Retained earnings 51,323,718 57,755,178
Accumulated other comprehensive loss (240,012) (588,048)
TOTAL STOCKHOLDERS' EQUITY 88,622,043 93,995,393
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 103,532,741 $ 112,534,645