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 $ 52,707 $ 62,873
Accounts receivable, less allowance for doubtful accounts of $5,502 and $82,000, respectively 30,241,313 18,028,946
Inventories 71,286,219 60,799,509
Prepaid expenses and other current assets 7,295,441 7,272,569
Investments 4,387,500 0
Indemnified contingency - see Note 11 11,064,542 11,339,888
Total current assets 124,327,722 97,503,785
Property, plant and equipment, net of accumulated depreciation of $47,764,504 and $45,219,309, respectively 35,481,396 27,324,092
Goodwill 6,003,525 1,354,730
Intangible assets, net of accumulated amortization of $9,347,987 and $8,148,162 12,101,013 12,308,838
Deferred charges, net and other non-current assets 107,998 146,618
Total assets 178,021,654 138,638,063
Current liabilities    
Accounts payable 21,793,629 16,684,508
Accrued expenses 20,339,950 16,087,434
Total current liabilities 42,133,579 32,771,942
Long-term debt 33,045,350 8,804,206
Deferred income taxes 1,348,261 1,609,492
Long-term portion of deferred gain on sale-leaseback 6,100,487 6,267,623
Long-term portion of earn-out liability 3,487,502 0
Other long-term liabilities 798,444 592,245
Shareholders' equity    
Common stock, par value $1 per share - authorized 24,000,000 shares; issued 10,300,000 shares 10,300,000 10,300,000
Capital in excess of par value 34,912,908 34,714,206
Retained earnings 59,467,952 57,936,533
Accumulated other comprehensive income 366,346 0
Shareholders' equity before treasury stock 105,047,206 102,950,739
Less cost of common stock in treasury: 1,583,107 and 1,630,690 shares, respectively 13,939,175 14,358,184
Total shareholders' equity 91,108,031 88,592,555
Commitments and contingencies – See Note 11
Total liabilities and shareholders' equity $ 178,021,654 $ 138,638,063