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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jul. 02, 2016
Jul. 04, 2015
Operating Activities    
Net income $ 2,735,910 $ 1,458,545
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,849,128 1,902,386
Unrecognized pension & postretirement benefits 1,454,353 1,156,385
Loss on sale of equipment and other assets 39,702 17,734
Provision for doubtful accounts 0 26,626
Issuance of common stock for directors' fees 74,561 19,960
Changes in operating assets and liabilities:    
Accounts receivable (2,318,859) (3,038,008)
Inventories 2,864,295 (724,353)
Prepaid expenses and other 461,524 513,110
Recoverable taxes receivable 0 380,000
Other assets (40,364) 21,384
Accounts payable 236,787 1,099,021
Accrued compensation (877,879) (1,039,252)
Other accrued expenses (399,298) (440,315)
Net cash provided by operating activities 6,079,860 1,353,223
Investing Activities    
Purchases of property, plant and equipment (1,084,325) (1,609,471)
Net cash used in investing activities (1,084,325) (1,609,471)
Financing Activities    
Principal payments on long-term debt (1,071,428) (714,285)
Dividends paid (1,375,145) (1,373,724)
Net cash used in financing activities (2,446,573) (2,088,009)
Effect of exchange rate changes on cash (117,865) (169,871)
Net change in cash and cash equivalents 2,431,097 (2,514,128)
Cash and cash equivalents at beginning of period 17,814,986 15,834,444
Cash and cash equivalents at end of period $ 20,246,083 $ 13,320,316