Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 29, 2012
Dec. 31, 2011
Current assets    
Cash and cash equivalents $ 1,085,261 $ 110,138
Accounts receivable, less allowance for doubtful accounts of $1,312,715 and $1,203,000 respectively 31,177,526 26,582,279
Inventories, net    
Raw materials 13,975,628 10,120,408
Work-in-process 13,773,037 12,632,301
Finished goods 22,414,727 20,310,029
Total inventories 50,163,392 43,062,738
Deferred income taxes 2,981,439 2,632,145
Prepaid expenses and other current assets 5,514,530 2,250,735
Total current assets 90,922,148 74,638,035
Cash value of life insurance 2,549,220 3,092,430
Property, plant and equipment, net 28,034,930 18,713,524
Goodwill 18,252,678 2,354,730
Deferred charges, net 287,564 117,645
Intangible asset, net 8,460,000 0
Total assets 148,506,540 98,916,364
Current liabilities    
Current portion of long-term debt 2,274,054 0
Accounts payable 10,523,788 13,043,153
Accrued expenses 12,083,499 5,112,662
Current portion of environmental reserves 122,000 138,000
Total current liabilities 25,003,341 18,293,815
Long-term debt 37,593,309 8,650,431
Long-term environmental reserves 518,000 502,000
Long-term deferred compensation 263,872 293,555
Long-term contingent consideration 5,708,831 0
Deferred income taxes 7,645,119 2,557,662
Shareholders' equity    
Common stock, par value $1 per share - authorized 12,000,000 shares; issued 8,000,000 shares 8,000,000 8,000,000
Capital in excess of par value 1,398,612 1,153,889
Retained earnings 76,836,761 74,198,151
Shareholders' equity before treasury stock 86,235,373 83,352,040
Less cost of common stock in treasury: 1,643,267 and 1,674,156 shares, respectively 14,461,305 14,733,139
Total shareholders' equity 71,774,068 68,618,901
Commitments and contingencies – See Note 11      
Total liabilities and shareholders' equity $ 148,506,540 $ 98,916,364