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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Operating Activities    
Net income $ 5,214,024 $ 5,135,974
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,230,174 2,795,699
Unrecognized pension and postretirement benefits 74,839 952,205
Loss on sale of equipment and other assets 18,585 45,313
Provision for doubtful accounts 52,663 0
Issuance of Common Stock for directors' fees 130,547 112,086
Changes in operating assets and liabilities:    
Accounts receivable (3,894,569) (1,626,625)
Inventories 2,267,945 2,665,002
Prepaid expenses and other (2,686,763) 78,914
Other assets 494,750 (67,324)
Accounts payable 1,466,401 (366,454)
Accrued compensation (172,509) (215,313)
Other accrued expenses 3,978,256 (526,930)
Net cash provided by operating activities 10,174,343 8,982,547
Investing Activities    
Marketable securities (366,554) 0
Business Acquisition, net of cash acquired (42,148,000) 0
Purchases of property, plant and equipment (1,457,641) (1,819,894)
Net cash used in investing activities (43,972,195) (1,819,894)
Financing Activities    
Proceeds from issuance of long-term debt 31,000,000 0
Proceeds from short term borrowings 6,614,611 0
Payments on revolving credit note (1,614,611) 0
Principal payments on long-term debt (2,173,214) (1,071,428)
Dividends paid (2,065,607) (2,063,085)
Net cash provided by (used in) financing activities 31,761,179 (3,134,513)
Effect of exchange rate changes on cash 505,388 (203,066)
Net change in cash and cash equivalents (1,531,285) 3,825,074
Cash and cash equivalents at beginning of period 22,725,376 17,814,986
Cash and cash equivalents at end of period $ 21,194,091 $ 21,640,060