Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Jan. 03, 2015
Dec. 28, 2013
Dec. 29, 2012
Operating activities      
Net income $ 5,462,263us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $ 1,760,564us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $ 4,234,912us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Loss (income) from discontinued operations, net of tax 7,156,524us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 1,137,484us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax (252,028)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation expense 3,724,757us-gaap_Depreciation 3,074,369us-gaap_Depreciation 2,394,298us-gaap_Depreciation
Amortization expense 1,466,395us-gaap_AdjustmentForAmortization 1,597,578us-gaap_AdjustmentForAmortization 567,693us-gaap_AdjustmentForAmortization
Deferred income taxes 796,916us-gaap_DeferredIncomeTaxExpenseBenefit (1,325,781)us-gaap_DeferredIncomeTaxExpenseBenefit 164,774us-gaap_DeferredIncomeTaxExpenseBenefit
Bargain gain on acquisition of CRI, net of taxes 0synl_BusinessCombinationBargainPurchaseGainRecognizedNetofTax (1,077,332)synl_BusinessCombinationBargainPurchaseGainRecognizedNetofTax 0synl_BusinessCombinationBargainPurchaseGainRecognizedNetofTax
Palmer earn-out adjustment (3,476,197)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 0us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 0us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Provision for (reduction of) losses on accounts receivable 72,100us-gaap_ProvisionForDoubtfulAccounts (229,230)us-gaap_ProvisionForDoubtfulAccounts 105,918us-gaap_ProvisionForDoubtfulAccounts
Provision for losses on inventories 2,548,196synl_ProvisionForLossesOnInventories 169,810synl_ProvisionForLossesOnInventories 463,824synl_ProvisionForLossesOnInventories
Loss (gain) on sale of property, plant and equipment 26,800us-gaap_GainLossOnSaleOfPropertyPlantEquipment 8,044us-gaap_GainLossOnSaleOfPropertyPlantEquipment (107,970)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Cash value of life insurance (39,093)synl_CashSurrenderValueOfLifeInsuranceChange (161,530)synl_CashSurrenderValueOfLifeInsuranceChange (190,996)synl_CashSurrenderValueOfLifeInsuranceChange
Change in fair value of interest rate swap 425,543us-gaap_UnrealizedGainLossOnDerivatives (740,832)us-gaap_UnrealizedGainLossOnDerivatives 113,648us-gaap_UnrealizedGainLossOnDerivatives
Environmental reserves (50,000)us-gaap_OtherIncreaseDecreaseInEnvironmentalLiabilities (14,000)us-gaap_OtherIncreaseDecreaseInEnvironmentalLiabilities 0us-gaap_OtherIncreaseDecreaseInEnvironmentalLiabilities
Issuance of treasury stock for director fees 110,501synl_IssuanceOfTreasuryStockForDirectorFees 127,989synl_IssuanceOfTreasuryStockForDirectorFees 99,995synl_IssuanceOfTreasuryStockForDirectorFees
Employee stock option and grant compensation 364,157us-gaap_ShareBasedCompensation 331,362us-gaap_ShareBasedCompensation 337,750us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities:      
Accounts receivable 3,448,709synl_IncreaseDecreaseInAccountsReceivableLessAmountWrittenOffAgainstReserve 642,125synl_IncreaseDecreaseInAccountsReceivableLessAmountWrittenOffAgainstReserve (894,385)synl_IncreaseDecreaseInAccountsReceivableLessAmountWrittenOffAgainstReserve
Inventories (3,298,982)synl_IncreaseDecreaseInInventoriesLessAmountWrittenOffAgainstReserve (2,659,949)synl_IncreaseDecreaseInInventoriesLessAmountWrittenOffAgainstReserve (2,615,218)synl_IncreaseDecreaseInInventoriesLessAmountWrittenOffAgainstReserve
Other assets and liabilities, net (1,164,297)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (303,959)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,661,047)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable 7,820,957us-gaap_IncreaseDecreaseInAccountsPayable 879,632us-gaap_IncreaseDecreaseInAccountsPayable (3,971,870)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses 3,995,534synl_IncreaseDecreaseInAccruedLiabilitiesAndCustomerAdvances (2,316,263)synl_IncreaseDecreaseInAccruedLiabilitiesAndCustomerAdvances 1,189,805synl_IncreaseDecreaseInAccruedLiabilitiesAndCustomerAdvances
Accrued income taxes (1,287,007)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (863,495)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (754,713)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net cash provided by (used in) continuing operating activities 28,103,776us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 36,586us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (775,610)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Net cash provided by (used in) discontinued operating activities 785,249us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations (5,578,384)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 2,410,473us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Net cash provided by (used in) operating activities 28,889,025us-gaap_NetCashProvidedByUsedInOperatingActivities (5,541,798)us-gaap_NetCashProvidedByUsedInOperatingActivities 1,634,863us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing activities      
Purchases of property, plant and equipment (8,065,992)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (5,648,290)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (4,542,150)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of property, plant and equipment 8,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 136,297us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 148,500us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from life insurance settlement 0us-gaap_ProceedsFromLifeInsurancePolicies 703,331us-gaap_ProceedsFromLifeInsurancePolicies 734,206us-gaap_ProceedsFromLifeInsurancePolicies
Net cash used in continuing investing activities (39,535,465)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (9,336,424)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (30,165,599)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Net cash provided by (used in) discontinued investing activities 3,589,064us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations (115,472)us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations (192,228)us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
Net cash used in investing activities (35,946,401)us-gaap_NetCashProvidedByUsedInInvestingActivities (9,451,896)us-gaap_NetCashProvidedByUsedInInvestingActivities (30,357,827)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing activities      
Net borrowings from (payments on) line of credit 884,637synl_BorrowingsFromPaymentsOnLongTermLinesOfCredit (18,060,894)synl_BorrowingsFromPaymentsOnLongTermLinesOfCredit 9,410,463synl_BorrowingsFromPaymentsOnLongTermLinesOfCredit
Borrowings from long-term debt 10,000,000us-gaap_ProceedsFromIssuanceOfLongTermDebt 4,033,250us-gaap_ProceedsFromIssuanceOfLongTermDebt 22,500,000us-gaap_ProceedsFromIssuanceOfLongTermDebt
Payments on long-term debt (2,533,903)us-gaap_RepaymentsOfLongTermDebt (2,401,103)us-gaap_RepaymentsOfLongTermDebt (759,962)us-gaap_RepaymentsOfLongTermDebt
Payments on pension liability from the closure of Bristol Fab (449,958)synl_PaymentsOfMultiemployerPlanWithdrawalObligation 0synl_PaymentsOfMultiemployerPlanWithdrawalObligation 0synl_PaymentsOfMultiemployerPlanWithdrawalObligation
Proceeds from notes receivable 0us-gaap_ProceedsFromCollectionOfNotesReceivable 0us-gaap_ProceedsFromCollectionOfNotesReceivable 20,000us-gaap_ProceedsFromCollectionOfNotesReceivable
Proceeds from sale of common stock 0us-gaap_ProceedsFromIssuanceOrSaleOfEquity 34,232,625us-gaap_ProceedsFromIssuanceOrSaleOfEquity 0us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Proceeds from exercised stock options 42,017us-gaap_ProceedsFromStockOptionsExercised 138,026us-gaap_ProceedsFromStockOptionsExercised 123,888us-gaap_ProceedsFromStockOptionsExercised
Dividends paid (2,632,537)us-gaap_PaymentsOfDividendsCommonStock (2,259,728)us-gaap_PaymentsOfDividendsCommonStock (1,596,302)us-gaap_PaymentsOfDividendsCommonStock
Net cash provided by financing activities 5,310,256us-gaap_NetCashProvidedByUsedInFinancingActivities 15,682,176us-gaap_NetCashProvidedByUsedInFinancingActivities 29,698,087us-gaap_NetCashProvidedByUsedInFinancingActivities
(Decrease) increase in cash and cash equivalents (1,747,120)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 688,482us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 975,123us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 1,773,743us-gaap_CashAndCashEquivalentsAtCarryingValue 1,085,261us-gaap_CashAndCashEquivalentsAtCarryingValue 110,138us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 26,623us-gaap_CashAndCashEquivalentsAtCarryingValue 1,773,743us-gaap_CashAndCashEquivalentsAtCarryingValue 1,085,261us-gaap_CashAndCashEquivalentsAtCarryingValue
Palmer of Texas [Member]      
Investing activities      
Acquisition 0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
(27,895,209)us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
Cash received from acquisition 0us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
0us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
1,389,054us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_PalmerOfTexasMember
Color Resources, LLC [Member]      
Investing activities      
Acquisition 0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_ColorResourcesLLCMember
(4,527,762)us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_ColorResourcesLLCMember
0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_ColorResourcesLLCMember
Specialty Pipe And Tube, Inc. [Member]      
Investing activities      
Acquisition (31,490,433)us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member
0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member
0us-gaap_PaymentsToAcquireBusinessesGross
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member
Cash received from acquisition $ 12,960us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member
$ 0us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member
$ 0us-gaap_CashAcquiredFromAcquisition
/ us-gaap_BusinessAcquisitionAxis
= synl_SpecialtyPipeAndTubeInc.Member