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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 30, 2019
Mar. 31, 2018
Operating Activities    
Net income $ 1,570,960 $ 3,100,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,438,799 1,150,204
Unrecognized pension and postretirement benefits 207,816 191,344
(Gain)/loss on sale of equipment and other assets 671,137 21,024
Provision for doubtful accounts 25,711 9,136
Stock compensation expense 104,992 107,099
Changes in operating assets and liabilities:    
Accounts receivable (2,123,227) (3,514,532)
Inventories 1,313,875 (1,540,703)
Prepaid expenses and other (81,231) (144,757)
Other assets 101,919 (90,073)
Accounts payable (27,186) 2,256,432
Accrued compensation (1,724,968) (2,012,189)
Other accrued expenses 11,718 562,695
Net cash provided by operating activities 1,490,316 95,875
Investing Activities    
Marketable securities (91,400) 0
Capitalized software (104,484) (733,842)
Purchases of property, plant and equipment (743,622) (605,655)
Net cash used in investing activities (939,506) (1,339,479)
Financing Activities    
Principal payments on long-term debt (387,500) (4,387,500)
Dividends paid (686,740) (689,133)
Net cash used in financing activities (1,074,240) (5,076,633)
Effect of exchange rate changes on cash 144,954 406,594
Net change in cash and cash equivalents (378,476) (5,913,661)
Cash and cash equivalents at beginning of period 13,925,765 22,275,477
Cash and cash equivalents at end of period 13,547,289 $ 16,361,816
Non-cash investing and financing activities    
Right of use asset 10,623,392  
Lease liability $ (10,623,392)