Segment Reporting

9 Months Ended

Sep. 30, 2015

Notes

Segment Reporting

7.  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, 2015:
Net sales	$           8,153,422	$             864,850	0	$          9,018,272
Depreciation	276,252	20,097	19,771	316,120
Segment operating profit	893,862	237,849	0	1,131,711
Selling and administrative expenses	0	0	(509,169)	(509,169)
Interest income	0	0	5,929	5,929
Income before income taxes				$              628,471
Capital expenditures	360,898	49,119	45,245	455,262
Segment assets:
Accounts receivable, net	5,536,738	365,400	0	5,902,138
Inventories, net	3,959,195	904,857	0	4,864,052
Property, plant and equip ment, net	9,259,723	1,482,052	512,388	11,254,163
Other assets	0	0	8,351,574	8,351,574
				$         30,371,927
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 operating profit	1,110,078	157,153	0	1,267,231
Selling and administrative expenses	0	0	(504,849)	(504,849)
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
Nine Months Ended September 30, 2015:
Net sales	$        24,830,182	$          2,678,055	0	$        27,508,237
Depreciation	825,616	60,291	57,688	943,595
Segment operating profit	3,041,262	775,440	0	3,816,702
Selling and administrative expenses	0	0	(1,679,776)	(1,679,776)
Interest income	0	0	18,979	18,979
Income before income taxes				$           2,155,905
Capital expenditures	820,441	448,261	73,415	1,342,117
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 operating profit	3,507,230	558,550	0	4,065,780
Selling and administrative expenses	0	0	(1,586,833)	(1,586,833)
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