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Consolidated Balance Sheets - USD ($)
Dec. 28, 2019
Dec. 29, 2018
Current Assets    
Cash and cash equivalents $ 17,996,505 $ 13,925,765
Marketable securities 34,305 0
Accounts receivable, less allowances of $556,000 in 2019 and $680,000 in 2018 37,941,900 30,285,316
Inventories:    
Raw materials and component parts 17,225,469 17,841,166
Work in process 11,009,648 8,960,202
Finished goods 26,364,149 25,971,841
Total inventories 54,599,266 52,773,209
Prepaid expenses and other current assets 4,343,507 3,071,888
Refundable income taxes 0 1,133,847
Total Current Assets 114,915,483 101,190,025
Property, Plant and Equipment    
Land 1,341,289 1,159,813
Buildings 21,830,568 16,477,462
Machinery and equipment 65,164,386 56,131,340
Accumulated depreciation (46,313,630) (43,915,238)
Property, Plant and Equipment, Net 42,022,613 29,853,377
Other Assets    
Goodwill 79,518,012 34,840,376
Trademarks 5,404,283 3,686,063
Patents, technology and other intangibles net of accumulated amortization 26,460,110 10,281,720
Right of Use Assets 12,342,475 0
Deferred income taxes 0 1,396,006
Total other assets 123,724,880 50,204,165
TOTAL ASSETS 280,662,976 181,247,567
Current Liabilities    
Accounts payable 19,960,507 18,497,626
Accrued compensation 3,815,186 4,159,808
Other accrued expenses 2,967,961 3,095,666
Contingent liability 0 2,070,000
Current portion of long-term debt 5,187,689 2,325,000
Total Current Liabilities 31,931,343 30,148,100
Deferred income taxes 5,270,465 1,516,012
Other long-term liabilities 2,465,261 353,856
Lease Liability 12,342,475 0
Long-term debt, less current portion 93,577,544 26,350,000
Accrued other postretirement benefits 1,007,146 648,635
Accrued pension cost 28,631,485 25,362,325
Commitments and contingencies (See Note 6)
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: 8,975,434 shares in 2019 and 8,965,987 shares in 2018 Outstanding: 6,240,705 shares in 2019 and 6,231,258 shares in 2018 30,651,815 29,994,890
Treasury Stock: 2,734,729 shares in 2019 and 2,734,729 shares in 2018 (20,169,098) (20,169,098)
Retained earnings 120,189,111 109,671,362
Accumulated other comprehensive income (loss):    
Foreign currency translation (2,037,952) (2,106,329)
Unrealized gain/(loss) on interest rate swap, net of tax 167,018 166,444
Unrecognized net pension and other postretirement benefit costs, net of taxes (23,363,637) (20,688,630)
Accumulated other comprehensive loss (25,234,571) (22,628,515)
Total Shareholders' Equity 105,437,257 96,868,639
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 280,662,976 $ 181,247,567