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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 29, 2019
Dec. 29, 2018
Current Assets    
Cash and cash equivalents $ 13,667,902 $ 13,925,765
Marketable securities 23,136 0
Accounts receivable, less allowances: $476,000 - 2019; $680,000 -2018 32,103,399 30,285,316
Inventories 49,271,813 52,773,209
Prepaid expenses and other assets 3,162,089 3,071,888
Refundable taxes 1,082,011 1,133,847
Total Current Assets 99,310,350 101,190,025
Property, Plant and Equipment 72,671,980 73,768,615
Accumulated depreciation (45,677,158) (43,915,238)
Property, Plant and Equipment, Net 26,994,822 29,853,377
Goodwill 34,880,617 34,840,376
Trademarks 3,686,063 3,686,063
Patents and other intangibles net of accumulated amortization 9,118,632 10,281,720
Right of Use Assets 10,026,397 0
Deferred income taxes 1,396,006 1,396,006
Total other assets 59,107,715 50,204,165
TOTAL ASSETS 185,412,887 181,247,567
Current Liabilities    
Accounts payable 18,504,766 18,497,626
Accrued compensation 2,853,541 4,159,808
Other accrued expenses 3,883,036 3,095,666
Contingent Liability 0 2,070,000
Current portion of long-term debt 3,100,000 2,325,000
Total Current Liabilities 28,341,343 30,148,100
Deferred income taxes 1,516,012 1,516,012
Other long-term liabilities 353,856 353,856
Lease liability 10,026,397 0
Long-term debt, less current portion 19,300,000 26,350,000
Accrued postretirement benefits 632,500 648,635
Accrued pension cost 24,939,439 25,362,325
Shareholders' Equity    
Preferred Stock, no par value: Authorized and unissued: 2,000,000 shares 0 0
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 8,970,509 shares in 2019 and 8,965,987 shares in 2018 30,288,617 29,994,890
Treasury Stock: 2,734,729 shares in 2019 and 2,634,729 shares in 2018 (20,169,098) (20,169,098)
Retained earnings 112,398,386 109,671,362
Accumulated other comprehensive income (loss):    
Foreign currency translation (1,915,235) (2,106,329)
Unrealized loss on marketable securities, net of tax (1,420) 0
Unrealized gain (loss) on interest rate swap, net of tax (54,642) 166,444
Unrecognized net pension and postretirement benefit costs, net of tax (20,243,268) (20,688,630)
Accumulated other comprehensive loss (22,214,565) (22,628,515)
Total Shareholders' Equity 100,303,340 96,868,639
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 185,412,887 $ 181,247,567