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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Oct. 01, 2016
Oct. 03, 2015
Operating Activities    
Net income $ 5,135,974 $ 3,986,267
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,795,699 2,885,560
Unrecognized pension & postretirement benefits 952,205 1,356,233
Loss on sale of equipment and other assets 45,313 62,254
Provision for doubtful accounts 0 44,126
Issuance of common stock for directors' fees 112,086 42,487
Changes in operating assets and liabilities:    
Accounts receivable (1,626,625) (2,991,497)
Inventories 2,665,002 (2,602,651)
Prepaid expenses and other 78,914 532,981
Recoverable income taxes receivable 0 380,000
Other assets (67,324) (4,616)
Accounts payable (366,454) 269,696
Accrued compensation (215,313) (186,096)
Other accrued expenses (526,930) (125,439)
Net cash provided by operating activities 8,982,547 3,649,305
Investing Activities    
Purchases of property, plant and equipment (1,819,894) (2,044,712)
Net cash used in investing activities (1,819,894) (2,044,712)
Financing Activities    
Principal payments on long-term debt (1,071,428) (1,071,428)
Dividends paid (2,063,085) (2,123,322)
Net cash used in financing activities (3,134,513) (3,194,750)
Effect of exchange rate changes on cash (203,066) (633,221)
Net change in cash and cash equivalents 3,825,074 (2,223,378)
Cash and cash equivalents at beginning of period 17,814,986 15,834,444
Cash and cash equivalents at end of period $ 21,640,060 $ 13,611,066