Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 12,453,663 $ 10,443,274
Investments 5,540,744 5,805,276
Trade accounts receivable, less allowance for doubtful accounts of $106,000 and $77,000, respectively 12,183,217 14,552,191
Inventories 13,984,428 22,204,902
Prepaid income taxes 493,834 1,400,118
Other current assets 810,532 967,332
TOTAL CURRENT ASSETS 45,466,418 55,373,093
PROPERTY, PLANT AND EQUIPMENT, net 12,624,730 15,719,403
OTHER ASSETS:    
Goodwill   1,462,503
Deferred income taxes 38,136  
Other assets 16,977 622,017
TOTAL OTHER ASSETS 55,113 2,084,520
TOTAL ASSETS 58,146,261 73,177,016
CURRENT LIABILITIES:    
Accounts payable 4,554,683 6,953,710
Accrued compensation and benefits 2,422,083 2,149,973
Other accrued liabilities 1,586,473 1,851,938
Dividends payable 397,151 412,542
TOTAL CURRENT LIABILITIES 8,960,390 11,368,163
LONG TERM LIABILITIES:    
Long-term compensation plans 11,079 16,299
Uncertain tax positions 4,065 106,864
Deferred income taxes   52,998
TOTAL LONG-TERM LIABILITIES 15,144 176,161
COMMITMENTS AND CONTINGENCIES (Footnote 7)
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 share authorized; 8,973,708 and 8,877,379 shares issued and outstanding, respectively 448,685 443,869
Additional paid-in capital 42,006,750 41,279,281
Retained earnings 7,328,671 20,596,203
Accumulated other comprehensive loss (613,379) (686,661)
TOTAL STOCKHOLDERS' EQUITY 49,170,727 61,632,692
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 58,146,261 $ 73,177,016