XML 23 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)
Apr. 04, 2015
Jan. 03, 2015
Current Assets    
Cash and cash equivalents $ 14,135,291us-gaap_CashAndCashEquivalentsAtCarryingValue $ 15,834,444us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable, less allowances: $416,000 - 2015; $414,000 - 2014 19,261,425us-gaap_AccountsReceivableNetCurrent 17,064,245us-gaap_AccountsReceivableNetCurrent
Inventories 34,161,532us-gaap_InventoryNet 34,402,197us-gaap_InventoryNet
Prepaid expenses and other assets 2,791,034us-gaap_PrepaidExpenseAndOtherAssetsCurrent 2,659,737us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Recoverable income taxes receivable 0us-gaap_IncomeTaxesReceivable 380,000us-gaap_IncomeTaxesReceivable
Deferred income taxes 950,024us-gaap_DeferredTaxAssetsNetCurrent 950,024us-gaap_DeferredTaxAssetsNetCurrent
Total Current Assets 71,299,306us-gaap_AssetsCurrent 71,290,647us-gaap_AssetsCurrent
Property, Plant and Equipment 63,506,975us-gaap_PropertyPlantAndEquipmentGross 62,970,497us-gaap_PropertyPlantAndEquipmentGross
Accumulated depreciation (35,568,640)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment (34,919,067)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
Net Property, Plant and Equipment 27,938,335us-gaap_PropertyPlantAndEquipmentNet 28,051,430us-gaap_PropertyPlantAndEquipmentNet
Goodwill 14,796,385us-gaap_Goodwill 14,960,354us-gaap_Goodwill
Trademarks 174,662us-gaap_IndefiniteLivedTrademarks 174,662us-gaap_IndefiniteLivedTrademarks
Patents, technology and other intangibles net of accumulated amortization 2,398,441us-gaap_FiniteLivedIntangibleAssetsNet 2,498,570us-gaap_FiniteLivedIntangibleAssetsNet
Deferred income taxes 4,108,379us-gaap_DeferredTaxAssetsNetNoncurrent 4,294,893us-gaap_DeferredTaxAssetsNetNoncurrent
Total Other Assets 21,477,867us-gaap_OtherAssetsNoncurrent 21,928,479us-gaap_OtherAssetsNoncurrent
TOTAL ASSETS 120,715,508us-gaap_Assets 121,270,556us-gaap_Assets
Current Liabilities    
Accounts payable 8,206,809us-gaap_AccountsPayableCurrent 8,256,600us-gaap_AccountsPayableCurrent
Accrued compensation 1,555,950us-gaap_EmployeeRelatedLiabilitiesCurrent 2,916,832us-gaap_EmployeeRelatedLiabilitiesCurrent
Other accrued expenses 2,151,947us-gaap_OtherAccruedLiabilitiesCurrent 1,201,114us-gaap_OtherAccruedLiabilitiesCurrent
Current portion of long-term debt 1,071,429us-gaap_LongTermDebtCurrent 1,071,429us-gaap_LongTermDebtCurrent
Total Current Liabilities 12,986,135us-gaap_LiabilitiesCurrent 13,445,975us-gaap_LiabilitiesCurrent
Other long-term liabilities 564,669us-gaap_OtherLiabilitiesNoncurrent 564,669us-gaap_OtherLiabilitiesNoncurrent
Long-term debt, less current portion 2,857,143us-gaap_LongTermDebtNoncurrent 3,214,285us-gaap_LongTermDebtNoncurrent
Accrued postretirement benefits 2,947,514us-gaap_OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent 2,905,908us-gaap_OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
Accrued pension cost 26,445,275us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent 26,164,812us-gaap_DefinedBenefitPensionPlanLiabilitiesNoncurrent
Shareholders' Equity    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares      
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares      
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,939,120 shares in 2015 and 8,938,742 shares in 2014 28,939,556us-gaap_CommonStockValue 28,932,058us-gaap_CommonStockValue
Treasury Stock: 2,694,729 shares in 2015 and 2014 (19,105,723)us-gaap_TreasuryStockValue (19,105,723)us-gaap_TreasuryStockValue
Retained earnings 87,867,776us-gaap_RetainedEarningsAccumulatedDeficit 87,680,667us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive income (loss):    
Foreign currency translation 260,847us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax 855,179us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
Unrecognized net pension and postretirement benefit costs, net of tax (23,047,684)us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax (23,387,274)us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
Accumulated other comprehensive loss (22,786,837)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (22,532,095)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total Shareholders' Equity 74,914,772us-gaap_StockholdersEquity 74,974,907us-gaap_StockholdersEquity
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 120,715,508us-gaap_LiabilitiesAndStockholdersEquity $ 121,270,556us-gaap_LiabilitiesAndStockholdersEquity