Segment Reporting

9 Months Ended

Sep. 30, 2014

Notes

Segment Reporting

6.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes cold-formed parts, rivets and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.  Information by segment is as follows:

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended September 30, 2014:
Net sales	$   8,295,936	$   699,889	0	$   8,995,825
Depreciation	279,258	16,066	18,440	313,764
Segment profit	1,111,165	157,153	0	1,268,318
Selling and administrative expenses	0	0	(504,849)	(504,849)
Loss from disposal of equipment	0	0	(1,087)	(1,087)
Interest income	0	0	6,375	6,375
Income before income taxes				$     768,757
Capital expenditures	532,879	0	16,170	549,049
Segment assets:
Accounts receivable, net	5,615,498	345,807	0	5,961,305
Inventories, net	4,479,552	803,199	0	5,282,751
Property, plant and equipment, net	9,199,056	1,110,475	515,138	10,824,669
Other assets	0	0	7,543,989	7,543,989
				$   29,612,714
Three Months Ended September 30, 2013:
Net sales	$  8,631,105	$   830,673	0	$      9,461,778
Depreciation	237,621	14,050	19,199	270,870
Segment profit	1,453,799	228,013	0	1,681,812
Selling and administrative expenses	0	0	(539,643)	(539,643)
Gain from disposal of equipment	0	0	74,235	74,235
Interest income	0	0	7,801	7,801
Income before income taxes				$       1,224,205
Capital expenditures	518,150	0	267,221	785,371
Segment assets:
Accounts receivable, net	5,873,916	374,487	0	6,248,403
Inventories, net	3,994,869	899,652	0	4,894,521
Property, plant and equipment, net	8,309,105	1,124,031	554,882	9,988,018
Other assets	0	0	7,658,231	7,658,231
				$   28,789,173
Nine Months Ended September 30, 2014:
Net sales	$   26,148,265	$  2,298,662	0	$   28,446,927
Depreciation	829,612	48,198	54,690	932,500
Segment profit	3,489,617	558,550	0	4,048,167
Selling and administrative expenses	0	0	(1,586,833)	(1,586,833)
Gain from disposal of equipment	0	0	17,613	17,613
Interest income	0	0	19,237	19,237
Income before income taxes				$     2,498,184
Capital expenditures	1,302,214	21,540	25,382	1,349,136
Nine Months Ended September 30, 2013:
Net sales	$  25,397,537	$  2,517,620	0	$     27,915,157
Depreciation	702,089	42,150	57,450	801,689
Segment profit	3,615,776	677,939	0	4,293,715
Selling and administrative expenses	0	0	(1,601,772)	(1,601,772)
Gain from disposal of equipment	0	0	116,721	116,721
Interest income	0	0	23,286	23,286
Income before income taxes				$      2,831,950
Capital expenditures	2,429,172	59,863	271,285	2,760,320