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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Operating Activities    
Net income $ 1,517,141 $ 648,073
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 955,614 928,136
Unrecognized pension & other postretirement benefits 127,926 851,929
(Gain)/loss on sale of equipment and other assets 33,098 19,780
Provision for doubtful accounts 6,381 0
Issuance of common stock for directors' fees 41,509 39,601
Changes in operating assets and liabilities:    
Accounts receivable (1,719,513) (339,041)
Inventories 1,689,822 1,254,683
Prepaid expenses and other (84,755) (127,991)
Other assets (35,208) (19,977)
Accounts payable 901,500 (1,336,219)
Accrued compensation (1,321,648) (1,099,262)
Other accrued expenses 279,730 (161,982)
Net cash provided by operating activities 2,391,597 657,730
Investing Activities    
Marketable securities (215,923) 0
Purchases of property, plant and equipment (487,169) (338,270)
Net cash used in investing activities (703,092) (338,270)
Financing Activities    
Principal payments on long-term debt (357,142) (714,285)
Dividends paid (688,340) (687,439)
Net cash used in financing activities (1,045,482) (1,401,724)
Effect of exchange rate changes on cash 212,902 (4,636)
Net change in cash and cash equivalents 855,925 (1,086,900)
Cash and cash equivalents at beginning of period 22,725,376 17,814,986
Cash and cash equivalents at end of period $ 23,581,301 $ 16,728,086