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Consolidated Balance Sheets - USD ($)
Dec. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 22,275,477 $ 22,725,376
Accounts receivable, less allowances of $470,000 in 2017 and $430,000 in 2016 27,119,910 18,135,792
Inventories:    
Raw materials and component parts 14,331,915 8,829,236
Work in process 7,718,379 7,118,149
Finished goods 25,218,463 18,082,901
Inventories, net 47,268,757 34,030,286
Prepaid expenses and other assets 3,401,456 1,858,471
Deferred income taxes 0 947,001
Total Current Assets 100,065,600 77,696,926
Property, Plant and Equipment    
Land 1,160,298 1,159,901
Buildings 16,426,977 16,303,521
Machinery and equipment 52,680,240 47,447,649
Accumulated depreciation (41,075,121) (38,745,557)
Property, Plant and Equipment, Net 29,192,394 26,165,514
Other Assets    
Goodwill 32,228,891 14,819,835
Trademarks 3,686,063 166,312
Patents, technology and other intangibles net of accumulated amortization 9,275,158 1,764,449
Deferred income taxes 2,010,291 3,585,360
Total other assets 47,200,403 20,335,956
TOTAL ASSETS 176,458,397 124,198,396
Current Liabilities    
Accounts payable 14,712,414 7,048,174
Accrued compensation 4,376,211 3,112,404
Other accrued expenses 3,606,057 1,812,647
Contingent Liability 2,070,000 0
Current portion of long-term debt 6,550,000 892,857
Total Current Liabilities 31,314,682 12,866,082
Deferred income taxes 1,723,543 0
Other long-term liabilities 358,982 288,805
Long-term debt, less current portion 28,675,000 892,857
Accrued other postretirement benefits 1,032,171 1,051,700
Accrued pension cost 26,423,429 26,631,438
Commitments and contingencies (See Note 4)
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: 8,957,974 shares in 2017 and 8,950,827 shares in 2016 Outstanding: 6,263,245 shares in 2017 and 6,256,098 shares in 2016 29,501,123 29,146,622
Treasury Stock: 2,694,729 shares in 2017 and 2016 (19,105,723) (19,105,723)
Retained earnings 97,921,903 95,631,216
Accumulated other comprehensive income (loss):    
Foreign currency translation (943,193) (2,165,081)
Unrealized gain on interest rate swap, net of tax 41,757 0
Unrecognized net pension and other postretirement benefit costs, net of taxes (20,485,277) (21,039,520)
Accumulated other comprehensive loss (21,386,713) (23,204,601)
Total Shareholders' Equity 86,930,590 82,467,514
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 176,458,397 $ 124,198,396