REPORTABLE SEGMENTS

12 Months Ended

Jan. 02, 2016

REPORTABLE SEGMENTS [Abstract]

REPORTABLE SEGMENTS

11. 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 10.5% of total sales in 2014 and 11.5% of total sales in 2013.  No other customer exceeded 10% of total sales in 2015, 2014 or 2013.

	2015		2014		2013
Sales: Sales to unaffiliated customers:
Industrial Hardware	$	61,338,812	$	58,666,229	$	60,367,209
Security Products		56,598,487		49,381,553		48,751,688
Metal Products		26,630,652		32,777,578		33,339,382
	$	144,567,951	$	140,825,360	$	142,458,279

Inter-segment Sales:
Industrial Hardware	$	595,596	$	984,192	$	373,797
Security Products		2,813,576		2,565,733		2,558,127
Metal Products		16,804		—		11,540
	$	3,425,976	$	3,549,925	$	2,943,464

Income Before Income Taxes:
Industrial Hardware	$	4,314,149		$	5,063,786		$	4,797,254
Security Products		3,798,115			4,058,554			2,780,403
Metal Products		(84,536	)		2,596,308			2,808,664
Operating Profit		8,027,728			11,718,648			10,386,321
Interest expense		(185,475	)		(254,576	)		(322,731	)
Other income		178,722			64,691			50,305
	$	8,020,975		$	11,528,763		$	10,113,895
Geographic Information:
Net Sales:
United States	$	126,115,036		$	117,478,557		$	114,085,322
Foreign		18,452,915			23,346,803			28,372,957
	$	144,567,951		$	140,825,360		$	142,458,279

Foreign sales are primarily to customers in North America.

Identifiable Assets:
United States	$	106,662,743	$	105,771,961	$	96,289,200
Foreign		15,075,816		15,498,595		17,569,209
	$	121,738,559	$	121,270,556	$	113,858,409
Industrial Hardware	$	30,425,348	$	29,660,695	$	31,820,269
Security Products		52,688,497		51,573,251		43,582,088
Metal Products		20,931,863		21,037,058		19,282,393
		104,045,708		102,271,004		94,684,750
General corporate		17,692,851		18,999,552		19,173,659
	$	121,738,559	$	121,270,556	$	113,858,409

	2015		2014		2013
Depreciation and Amortization:
Industrial Hardware	$	1,580,741	$	1,631,521	$	2,085,618
Security Products		1,010,262		621,501		592,555
Metal Products		1,330,435		1,233,280		1,147,113
	$	3,921,438	$	3,486,302	$	3,825,286

Capital Expenditures:
Industrial Hardware	$	1,479,984	$	1,929,022	$	1,967,335
Security Products		388,377		973,365		469,669
Metal Products		632,016		664,851		3,002,556
		2,500,377		3,567,238		5,439,560
Currency translation adjustment		25,020		10,347		(245	)
General corporate		12,839		55,580		84,427
	$	2,538,236	$	3,633,165	$	5,523,742