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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Oct. 01, 2016
Jan. 02, 2016
Current Assets    
Cash and cash equivalents $ 21,640,060 $ 17,814,986
Accounts receivable, less allowances: $443,000 - 2016; $450,000 - 2015 19,041,481 17,502,445
Inventories 34,098,827 36,842,413
Prepaid expenses and other assets 1,875,141 2,122,215
Deferred income taxes 986,167 986,167
Total Current Assets 77,641,676 75,268,226
Property, Plant and Equipment 65,123,800 63,438,241
Accumulated depreciation (39,018,381) (36,636,775)
Net Property, Plant and Equipment 26,105,419 26,801,466
Goodwill 14,842,755 14,790,793
Trademarks 163,561 164,957
Patents, technology, and other intangibles net of accumulated amortization 1,866,980 2,113,576
Deferred income taxes 2,981,919 2,599,541
Total Other Assets 19,855,215 19,668,867
TOTAL ASSETS 123,602,310 121,738,559
Current Liabilities    
Accounts payable 8,410,218 9,109,394
Accrued compensation 2,668,733 2,873,871
Other accrued expenses 1,382,683 1,751,052
Current portion of long-term debt 1,071,429 1,428,571
Total Current Liabilities 13,533,063 15,162,888
Other long-term liabilities 286,920 286,920
Long-term debt, less current portion 1,071,428 1,785,714
Accrued postretirement benefits 767,620 793,055
Accrued pension cost 26,361,144 24,304,926
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: 8,949,016 shares in 2016 and 8,942,461 shares in 2015 29,109,136 28,997,050
Treasury Stock: 2,694,729 shares in 2016 and 2015 (19,105,723) (19,105,723)
Retained earnings 93,669,931 90,597,041
Accumulated other comprehensive income (loss):    
Foreign currency translation (1,465,795) (1,154,098)
Unrecognized net pension and postretirement benefit costs, net of tax (20,625,414) (19,929,214)
Accumulated other comprehensive loss (22,091,209) (21,083,312)
Total Shareholders' Equity 81,582,135 79,405,056
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 123,602,310 $ 121,738,559