ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 03, 2015

ACCOUNTING POLICIES [Abstract]

Gross carrying amount and accumulated amortization of amortizable intangible assets

The gross carrying amount and accumulated amortization of amortizable intangible assets:

	Industrial Hardware Segment		Security Products Segment		Metal Products Segment		Total		Weighted-Average Amortization Period (Years)
2014 Gross Amount
Patents and developed technology	$	2,494,261	$	1,025,303	$	—	$	3,519,564	15.7
Customer relationships		—		449,706		—		449,706	5.0
Non-compete agreements		—		407,000		—		407,000	5.0
Intellectual property		—		307,370		—		307,370	5.0
Total Gross Intangibles	$	2,494,261	$	2,189,379	$	—	$	4,683,640	12.7
2014 Accumulated Amortization
Patents and developed technology	$	1,649,655	$	535,415	$	—	$	2,185,070
Customer relationships		—		—		—		—
Non-compete agreements		—		—		—		—
Intellectual property		—		—		—		—
Accumulated Amortization	$	1,649,655	$	535,415	$	—	$	2,185,070
Net 2014 per Balance Sheet	$	844,606	$	1,653,964	$	—	$	2,498,570
2013 Patents and developed technology
Gross Amount	$	2,595,931	$	1,041,250	$	—	$	3,637,181	16.0
Accumulated amortization		1,676,440		503,238		—		2,179,678
Net 2013 per Balance Sheet	$	919,491	$	538,012	$	—	$	1,457,503

Roll-forward of goodwill

The following is a roll-forward of goodwill for 2014 and 2013:

	Industrial Hardware Segment			Security Products Segment		Metal Products Segment		Total
2014
Beginning balance	$	2,008,231		$	11,833,816	$	—	$	13,842,047
Acquisition of Argo Transdata		—			1,225,226		—		1,225,226
Foreign exchange		(106,919	)		—		—		(106,919	)
Ending balance	$	1,901,312		$	13,059,042	$	—	$	14,960,354

	Industrial Hardware Segment			Security Products Segment		Metal Products Segment		Total
2013
Beginning balance	$	2,099,783		$	11,833,816	$	—	$	13,933,599
Foreign exchange		(91,552	)		—		—		(91,552	)
Ending balance	$	2,008,231		$	11,833,816	$	—	$	13,842,047

Denominators used in the earnings per share computations

The denominators used in the earnings per share computations follow:

	2014	2013	2012
Basic:
Weighted average shares outstanding	6,225,068	6,220,928	6,216,931
Diluted:
Weighted average shares outstanding	6,225,068	6,220,928	6,216,931
Dilutive stock options	12,846	16,830	16,444
Denominator for diluted earnings per share	6,237,914	6,237,758	6,233,375