Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 15,410 $ 62,873
Accounts receivable, less allowance for doubtful accounts of $236,000 and $82,000, respectively 30,312,586 18,028,946
Inventories, net 70,506,055 60,799,509
Prepaid expenses and other current assets 9,048,905 7,272,569
Indemnified contingencies - see Note 11 0 11,339,888
Total current assets 109,882,956 97,503,785
Property, plant and equipment, net of accumulated depreciation of $49,135,440 and $45,219,309, respectively 34,967,728 27,324,092
Goodwill 6,003,525 1,354,730
Intangible assets, net of accumulated amortization of $9,885,902 and $8,148,162 11,490,767 12,308,838
Deferred charges, net and other non-current assets 88,689 146,618
Total assets 162,433,665 138,638,063
Current liabilities    
Accounts payable 24,769,264 16,684,508
Accrued expenses 9,779,911 16,087,434
Total current liabilities 34,549,175 32,771,942
Long-term debt 26,722,960 8,804,206
Deferred income taxes 1,576,515 1,609,492
Long-term deferred gain, sale-leaseback 6,016,918 6,267,623
Long-term portion of earn-out liability 3,119,856 0
Other long-term liabilities 756,806 592,245
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 35,069,410 34,714,206
Retained earnings 58,261,200 57,936,533
Accumulated other comprehensive income 0  
Shareholders' equity before treasury stock 103,630,610 102,950,739
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 89,691,435 88,592,555
Commitments and contingencies – See Note 11
Total liabilities and shareholders' equity $ 162,433,665 $ 138,638,063