Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets (USD $)
Jun. 29, 2013
Dec. 29, 2012
Current assets    
Cash and cash equivalents $ 142,808 $ 1,085,261
Accounts receivable, less allowance for doubtful accounts of $1,277,191 and $1,312,715, respectively 36,381,202 31,177,526
Inventories, net 57,106,370 50,163,392
Deferred income taxes 2,944,434 2,981,439
Prepaid expenses and other current assets 6,287,155 5,514,530
Total current assets 102,861,969 90,922,148
Cash value of life insurance 2,603,219 2,549,220
Property, plant and equipment, net of accumulated depreciation of $42,467,203 and $40,966,957, respectively 29,261,908 28,034,930
Goodwill 18,252,678 18,252,678
Intangible asset, net 7,695,000 8,460,000
Deferred charges, net and other non-current assets 459,635 287,564
Total assets 161,134,409 148,506,540
Current liabilities    
Current portion of long-term debt 2,250,000 2,274,054
Accounts payable 17,470,464 10,523,788
Accrued expenses 9,759,204 11,633,251
Other current liabilities 140,823 122,000
Total current liabilities 29,620,491 24,553,093
Long-term debt 41,773,859 37,593,309
Long-term contingent consideration 5,794,031 5,708,831
Deferred income taxes 7,645,119 7,645,119
Other non-current long-term liabilities 782,372 1,232,120
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 1,544,893 1,398,612
Retained earnings 80,214,872 76,836,761
Shareholders' equity before treasury stock 89,759,765 86,235,373
Less cost of common stock in treasury: 1,617,200 and 1,643,267 shares, respectively 14,241,228 14,461,305
Total shareholders' equity 75,518,537 71,774,068
Commitments and contingencies – See Note 10      
Total liabilities and shareholders' equity $ 161,134,409 $ 148,506,540