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Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Jan. 01, 2011
Current Assets    
Cash and cash equivalents $ 11,147,297 $ 12,224,608
Accounts receivable, less allowances of $423,000 in 2011 and $519,000 in 2010 18,633,088 16,424,766
Inventories:    
Raw materials and component parts 11,863,199 8,090,149
Work in process 6,425,914 5,298,939
Finished goods 11,504,321 14,801,087
Total Inventories 29,793,434 28,190,175
Prepaid expenses and other assets 3,313,186 2,652,132
Recoverable income taxes receivable 647,950 0
Deferred income taxes 1,881,775 1,141,744
Total Current Assets 65,416,730 60,633,425
Property, Plant and Equipment    
Land 1,152,804 1,152,972
Buildings 14,181,502 13,898,789
Machinery and equipment 39,528,714 38,276,592
Accumulated depreciation (30,228,924) (28,864,317)
Net Property, Plant and Equipment 24,634,096 24,464,036
Other Assets    
Goodwill 13,905,209 13,933,990
Trademarks 152,446 150,751
Patents, technology and other intangibles net of accumulated amortization 1,770,008 2,259,235
Deferred income taxes 821,485 912,043
Total Other Assets 16,649,148 17,256,019
TOTAL ASSETS 106,699,974 102,353,480
Current Liabilities    
Accounts payable 8,412,245 7,518,969
Accrued compensation 2,999,478 2,997,126
Other accrued expenses 1,060,143 1,141,514
Current portion of long-term debt 3,714,286 714,286
Total Current Liabilities 16,186,152 12,371,895
Other long-term liabilities 655,001 713,202
Long-term debt, less current portion 3,035,714 3,750,000
Accrued postretirement benefits 1,853,157 1,461,371
Accrued pension cost 15,811,622 14,013,269
Shareholders' Equity    
Preferred Stock 0 0
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,908,607 shares in 2011 and 8,852,762 shares in 2010 28,499,779 27,717,318
Treasury Stock: 2,694,729 shares in 2011 and 2010 (19,105,723) (19,105,723)
Retained earnings 73,200,362 69,919,619
Accumulated other comprehensive income (loss):    
Foreign currency translation 2,107,187 2,448,675
Unrecognized net pension and postretirement benefit costs, net of taxes (15,543,277) (10,936,146)
Accumulated other comprehensive loss (13,436,090) (8,487,471)
Total Shareholders' Equity 69,158,328 70,043,743
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 106,699,974 $ 102,353,480