XML 30 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
3 Months Ended
Mar. 29, 2014
Mar. 30, 2013
Operating Activities    
Net income $ 1,502,885 $ 1,005,248
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 823,320 949,554
Loss on sale of equipment and other assets 85,623 3,815
Provision for doubtful accounts 27,374 24,158
Issuance of Common Stock for directors' fees 7,490 4,614
Changes in operating assets and liabilities:    
Accounts receivable (1,993,182) (77,541)
Inventories 299,770 (370,921)
Prepaid expenses and other (176,412) (307,029)
Prepaid pension cost 539,852 664,775
Recoverable taxes receivable 0 750,000
Other assets (48,591) (47,063)
Accounts payable 1,048,202 7,411
Accrued compensation (1,640,177) (2,037,828)
Other accrued expenses (62,850) 136,841
Net cash provided by operating activities 413,304 706,034
Investing Activities    
Purchases of property, plant and equipment (690,041) (1,256,623)
Net cash used in investing activities (690,041) (1,256,623)
Financing Activities    
Principal payments on long-term debt (357,142) (357,143)
Dividends paid (684,438) (621,975)
Net cash used in financing activities (1,041,580) (979,118)
Effect of exchange rate changes on cash (151,708) (60,494)
Net change in cash and cash equivalents (1,470,025) (1,590,201)
Cash and cash equivalents at beginning of period 19,988,361 18,482,144
Cash and cash equivalents at end of period $ 18,518,336 $ 16,891,943