Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 28, 2013
Dec. 29, 2012
Current assets    
Cash and cash equivalents $ 40,473 $ 1,085,261
Accounts receivable, less allowance for doubtful accounts of $1,182,298 and $1,312,715, respectively 36,867,997 31,177,526
Inventories, net 59,535,216 50,163,392
Deferred income taxes 2,944,434 2,981,439
Prepaid expenses and other current assets 4,541,365 5,514,530
Total current assets 103,929,485 90,922,148
Cash value of life insurance 2,630,220 2,549,220
Property, plant and equipment, net of accumulated depreciation of $43,413,992 and $40,966,957, respectively 35,551,233 28,034,930
Goodwill 18,252,678 18,252,678
Intangible asset, net 7,312,500 8,460,000
Deferred charges, net and other non-current assets 443,527 287,564
Total assets 168,119,643 148,506,540
Current liabilities    
Current portion of long-term debt 2,533,908 2,274,054
Accounts payable 18,465,511 10,523,788
Accrued expenses 8,907,334 11,633,251
Other current liabilities 149,209 122,000
Total current liabilities 30,055,962 24,553,093
Long-term debt 45,994,819 37,593,309
Long-term contingent consideration 5,832,031 5,708,831
Deferred income taxes 8,245,869 7,645,119
Other long-term liabilities 927,467 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 1,628,391 1,398,612
Retained earnings 81,676,332 76,836,761
Shareholders' equity before treasury stock 91,304,723 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 77,063,495 71,774,068
Commitments and contingencies – See Note 11      
Total liabilities and shareholders' equity $ 168,119,643 $ 148,506,540