Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.1.9
Consolidated Balance Sheets (USD $)
Jan. 03, 2015
Dec. 28, 2013
Current assets    
Cash and cash equivalents $ 26,623us-gaap_CashAndCashEquivalentsAtCarryingValue $ 1,773,743us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, less allowance for doubtful accounts of $1,114,814 and $1,079,288 respectively 29,229,927us-gaap_AccountsReceivableNetCurrent 29,923,485us-gaap_AccountsReceivableNetCurrent
Inventories, net    
Raw materials 38,405,587synl_InventoryRawMaterialsNet 16,557,350synl_InventoryRawMaterialsNet
Work-in-process 7,128,602synl_InventoryWorkInProcessNet 16,041,141synl_InventoryWorkInProcessNet
Finished goods 22,140,481synl_InventoryFinishedGoodsNet 18,897,421synl_InventoryFinishedGoodsNet
Total inventories 67,674,670us-gaap_InventoryNet 51,495,912us-gaap_InventoryNet
Deferred income taxes 2,921,654us-gaap_DeferredTaxAssetsNetCurrent 3,776,647us-gaap_DeferredTaxAssetsNetCurrent
Prepaid expenses and other current assets 5,460,344synl_PrepaidExpensesAndOtherCurrentAssets 4,091,489synl_PrepaidExpensesAndOtherCurrentAssets
Current assets held for sale 0us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent 8,550,076us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
Total current assets 105,313,218us-gaap_AssetsCurrent 99,611,352us-gaap_AssetsCurrent
Cash value of life insurance 2,046,512us-gaap_CashSurrenderValueOfLifeInsurance 2,007,419us-gaap_CashSurrenderValueOfLifeInsurance
Property, plant and equipment, net 39,937,466us-gaap_PropertyPlantAndEquipmentNet 32,665,281us-gaap_PropertyPlantAndEquipmentNet
Goodwill 23,250,201us-gaap_Goodwill 17,252,678us-gaap_Goodwill
Intangible assets, net 17,001,525us-gaap_IntangibleAssetsNetExcludingGoodwill 6,930,000us-gaap_IntangibleAssetsNetExcludingGoodwill
Deferred charges, net and other non-current assets 300,308us-gaap_OtherDeferredCostsNet 575,546us-gaap_OtherDeferredCostsNet
Assets held for sale 0us-gaap_DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent 4,218,095us-gaap_DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
Total assets 187,849,230us-gaap_Assets 163,260,371us-gaap_Assets
Current liabilities    
Accounts payable 21,388,298us-gaap_AccountsPayableCurrent 11,440,573us-gaap_AccountsPayableCurrent
Accrued expenses 14,684,686synl_AccruedLiabilitiesCurrentAndCustomerDepositsCurrent 9,182,369synl_AccruedLiabilitiesCurrentAndCustomerDepositsCurrent
Current portion of long-term debt 4,533,908us-gaap_DebtCurrent 2,533,908us-gaap_DebtCurrent
Current portion of environmental reserves 126,000us-gaap_AccruedEnvironmentalLossContingenciesCurrent 147,500us-gaap_AccruedEnvironmentalLossContingenciesCurrent
Current liabilities held for sale 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent 1,318,876us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
Total current liabilities 40,732,892us-gaap_LiabilitiesCurrent 24,623,226us-gaap_LiabilitiesCurrent
Long-term debt, less current portion 27,255,442us-gaap_LongTermDebtNoncurrent 20,904,708us-gaap_LongTermDebtNoncurrent
Long-term environmental reserves 450,000us-gaap_AccruedEnvironmentalLossContingenciesNoncurrent 478,500us-gaap_AccruedEnvironmentalLossContingenciesNoncurrent
Long-term deferred compensation 209,500us-gaap_DeferredCompensationLiabilityClassifiedNoncurrent 219,794us-gaap_DeferredCompensationLiabilityClassifiedNoncurrent
Long-term contingent consideration 2,596,516us-gaap_BusinessCombinationContingentConsiderationLiabilityNoncurrent 3,362,031us-gaap_BusinessCombinationContingentConsiderationLiabilityNoncurrent
Deferred income taxes 6,438,146us-gaap_DeferredTaxLiabilitiesNoncurrent 7,573,999us-gaap_DeferredTaxLiabilitiesNoncurrent
Long-term pension liability from the closure of Bristol Fab 713,181us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent 0us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent
Shareholders' equity    
Common stock, par value $1 per share - authorized 12,000,000 shares; issued 10,300,000 shares 10,300,000us-gaap_CommonStockValue 10,300,000us-gaap_CommonStockValue
Capital in excess of par value 34,054,374synl_AdditionalPaidInCapitalCommonStockAndDeferredCompensationEquity 33,657,714synl_AdditionalPaidInCapitalCommonStockAndDeferredCompensationEquity
Retained earnings 79,167,323us-gaap_RetainedEarningsAccumulatedDeficit 76,337,597us-gaap_RetainedEarningsAccumulatedDeficit
Shareholders' equity before treasury stock 123,521,697us-gaap_StockholdersEquityBeforeTreasuryStock 120,295,311us-gaap_StockholdersEquityBeforeTreasuryStock
Less cost of common stock in treasury: 1,589,698 and 1,612,200 shares, respectively 14,068,144us-gaap_TreasuryStockValue 14,197,198us-gaap_TreasuryStockValue
Total shareholders' equity 109,453,553us-gaap_StockholdersEquity 106,098,113us-gaap_StockholdersEquity
Commitments and contingencies – See Note 11      
Total liabilities and shareholders' equity $ 187,849,230us-gaap_LiabilitiesAndStockholdersEquity $ 163,260,371us-gaap_LiabilitiesAndStockholdersEquity