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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)
Jul. 02, 2011
Jan. 01, 2011
Current Assets    
Cash and cash equivalents $ 8,449,223 $ 12,224,608
Accounts receivable, less allowances: $560,000 - 2011; $519,000 - 2010 19,717,302 16,424,766
Inventories 28,698,050 28,190,175
Prepaid expenses and other assets 3,189,642 2,652,132
Deferred income taxes 1,141,744 1,141,744
Total Current Assets 61,195,961 60,633,425
Property, Plant and Equipment 55,371,281 53,328,353
Accumulated depreciation (30,457,720) (28,864,317)
Property, Plant and Equipment, Net 24,913,561 24,464,036
Goodwill 13,975,143 13,933,990
Trademarks 150,751 150,751
Patents, technology, and other intangibles net of accumulated amortization 1,985,473 2,259,235
Deferred income taxes 724,605 912,043
Total noncurrent assets 16,835,972 17,256,019
TOTAL ASSETS 102,945,494 102,353,480
Current Liabilities    
Accounts payable 7,725,873 7,518,969
Accrued compensation 1,680,265 2,997,126
Other accrued expenses 1,294,814 1,141,514
Current portion of long-term debt 714,286 714,286
Total Current Liabilities 11,415,238 12,371,895
Other long-term liabilities 713,202 713,202
Long-term debt, less current portion 3,214,286 3,750,000
Accrued postretirement benefits 1,485,092 1,461,371
Accrued pension cost 13,717,500 14,013,269
Shareholders' Equity    
Voting Preferred Stock, no par value: Authorized and unissued 1,000,000 shares 0 0
Nonvoting Preferred Stock, no par value: Authorized and unissued 1,000,000 shares 0 0
Common Stock, no par value: Authorized: 50,000,000 shares issued: 8,862,966 shares in 2011 and 8,852,762 shares in 2010 27,837,062 27,717,318
Treasury Stock: 2,694,729 shares in 2011 and 2010 (19,105,723) (19,105,723)
Retained earnings 71,390,767 69,919,619
Accumulated other comprehensive income (loss):    
Foreign currency translation 2,868,672 2,448,675
Unrecognized net pension and postretirement benefit costs, net of tax (10,590,602) (10,936,146)
Accumulated other comprehensive loss (7,721,930) (8,487,471)
Total Shareholders' Equity 72,400,176 70,043,743
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 102,945,494 $ 102,353,480