REPORTABLE SEGMENTS

12 Months Ended

Dec. 28, 2013

REPORTABLE SEGMENTS [Abstract]

REPORTABLE SEGMENTS

10. Reportable Segments

The accounting policies of the segments are the same as those described in Note 2. Operating profit is total revenue less operating expenses, excluding interest and miscellaneous non-operating income and expenses. Inter-segment revenue, which is eliminated, is recorded on the same basis as sales to unaffiliated customers. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

One customer of the Metal Products segment, Jennmar Corporation, accounted for 11.5% of total sales in 2013.  No other customer exceeded 10% of total revenue in 2013, 2012 or 2011.

	2013			2012			2011
Revenue:
Sales to unaffiliated customers:
Industrial Hardware	$	60,367,209		$	72,268,559		$	66,119,119
Security Products		48,751,688			50,138,121			47,972,152
Metal Products		33,339,382			35,102,505			28,764,778
	$	142,458,279		$	157,509,185		$	142,856,049
Inter-segment Revenue:
Industrial Hardware	$	373,797		$	270,911		$	330,150
Security Products		2,558,127			2,914,667			2,751,060
Metal Products		11,540			—			127,138
	$	2,943,464		$	3,185,578		$	3,208,348
		2013			2012			2011
Income Before Income Taxes:
Industrial Hardware	$	4,797,254		$	7,566,512		$	4,912,341
Security Products		2,780,403			4,113,661			3,408,187
Metal Products		2,808,664			1,871,250			391,652
Operating Profit		10,386,321			13,551,423			8,712,180
Interest expense		(322,731	)		(369,357	)		(231,481	)
Other income		50,305			42,452			26,230
	$	10,113,895		$	13,224,518		$	8,506,929
Geographic Information:
Net Sales:
United States	$	114,085,322		$	120,604,363		$	107,472,590
Foreign		28,372,957			36,904,822			35,383,459
	$	142,458,279		$	157,509,185		$	142,856,049

Foreign sales are primarily to customers in North America.

Identifiable Assets:
United States	$	96,289,200		$	95,441,029		$	86,844,921
Foreign		17,569,209			20,413,121			19,855,053
	$	113,858,409		$	115,854,150		$	106,699,974
Industrial Hardware	$	31,820,269		$	34,425,594		$	32,298,527
Security Products		43,582,088			41,857,156			42,149,711
Metal Products		19,282,393			18,281,619			16,814,255
		94,684,750			94,564,369			91,262,493
General corporate		19,173,659			21,289,781			15,437,481
	$	113,858,409		$	115,854,150		$	106,699,974
Depreciation and Amortization:
Industrial Hardware	$	2,085,618		$	1,769,097		$	1,768,975
Security Products		592,555			628,652			984,879
Metal Products		1,147,113			1,042,051			953,362
	$	3,825,286		$	3,439,800		$	3,707,216
Capital Expenditures:
Industrial Hardware	$	1,967,335		$	1,552,147		$	1,568,779
Security Products		469,669			260,692			331,619
Metal Products		3,002,556			2,337,104			1,477,222
		5,439,560			4,149,943			3,377,620
Currency translation adjustment		(245	)		(2,730	)		7,132
General corporate		84,427			69,757			9,974
	$	5,523,742		$	4,216,970		$	3,394,726