Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 19,112,086 $ 10,443,274
Investments 1,444,556 5,805,276
Trade accounts receivable, less allowance for doubtful accounts of $130,000 and $77,000, respectively 12,750,055 14,552,191
Inventories 18,274,381 22,204,902
Prepaid income taxes 595,273 1,400,118
Other current assets 978,082 967,332
TOTAL CURRENT ASSETS 53,154,433 55,373,093
PROPERTY, PLANT AND EQUIPMENT, net 14,197,023 15,719,403
OTHER ASSETS:    
Goodwill   1,462,503
Other assets, net 290,735 622,017
TOTAL OTHER ASSETS 290,735 2,084,520
TOTAL ASSETS 67,642,191 73,177,016
CURRENT LIABILITIES:    
Accounts payable 6,483,710 6,953,710
Accrued compensation and benefits 3,072,470 2,149,973
Other accrued liabilities 1,679,387 1,851,938
Dividends payable 397,768 412,542
TOTAL CURRENT LIABILITIES 11,633,335 11,368,163
LONG TERM LIABILITIES:    
Long-term compensation plans 53,907 16,299
Uncertain tax positions 110,973 106,864
Deferred income taxes   52,998
TOTAL LONG-TERM LIABILITIES 164,880 176,161
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 shares authorized; 8,956,343 and 8,877,379 shares issued and outstanding, respectively 447,817 443,869
Additional paid-in capital 41,786,018 41,279,281
Retained earnings 14,267,533 20,596,203
Accumulated other comprehensive loss (657,392) (686,661)
TOTAL STOCKHOLDERS' EQUITY 55,843,976 61,632,692
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 67,642,191 $ 73,177,016