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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Oct. 03, 2015
Jan. 03, 2015
Current Assets    
Cash and cash equivalents $ 13,611,066 $ 15,834,444
Accounts receivable, less allowances: $438,000 - 2015; $414,000 - 2014 19,747,618 17,064,245
Inventories 36,475,448 34,402,197
Prepaid expenses and other assets 2,079,150 2,659,737
Recoverable income taxes receivable 0 380,000
Deferred income taxes 950,024 950,024
Total Current Assets 72,863,306 71,290,647
Property, Plant and Equipment 64,230,401 62,970,497
Accumulated depreciation (36,924,239) (34,919,067)
Net Property, Plant and Equipment 27,306,162 28,051,430
Goodwill 14,747,158 14,960,354
Trademarks 168,688 174,662
Patents, technology and other intangibles net of accumulated amortization 2,218,016 2,498,570
Deferred income taxes 3,735,353 4,294,893
Total Other Assets 20,869,215 21,928,479
TOTAL ASSETS 121,038,683 121,270,556
Current Liabilities    
Accounts payable 8,286,337 8,256,600
Accrued compensation 2,674,247 2,916,832
Other accrued expenses 1,167,641 1,201,114
Current portion of long-term debt 1,071,429 1,071,429
Total Current Liabilities 13,199,654 13,445,975
Other long-term liabilities 564,669 564,669
Long-term debt, less current portion 2,142,857 3,214,285
Accrued postretirement benefits 3,029,305 2,905,908
Accrued pension cost $ 25,819,339 $ 26,164,812
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: 8,941,141 shares in 2015 and 8,938,742 shares in 2014 $ 28,974,545 $ 28,932,058
Treasury Stock: 2,694,729 shares in 2015 and 2014 (19,105,723) (19,105,723)
Retained earnings 89,543,612 87,680,667
Accumulated other comprehensive income (loss):    
Foreign currency translation (761,069) 855,179
Unrecognized net pension and postretirement benefit costs, net of tax (22,368,506) (23,387,274)
Accumulated other comprehensive loss (23,129,575) (22,532,095)
Total Shareholders' Equity 76,282,859 74,974,907
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 121,038,683 $ 121,270,556