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Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Operating Activities    
Net income $ 11,925,632 $ 7,343,020
Less: gain (loss) from discontinued operations 1,042,465 (4,926,248)
Net income from continuing operations 10,883,167 12,269,268
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 5,389,394 5,188,863
Unrecognized pension and postretirement benefits (477,560) (3,056,642)
Gain on sale of equipment and other assets (345,718) (1,469,218)
Provision for doubtful accounts 35,000 73,097
Stock compensation expense 699,454 1,090,946
Changes in operating assets and liabilities:    
Accounts receivable (8,008,687) (9,553,337)
Inventories (5,217,395) (13,686,268)
Prepaid expenses and other (1,082,483) (3,903,388)
Other assets 340,925 47,534
Accounts payable (537,072) 11,156,105
Accrued compensation (957,022) 697,735
Other accrued expenses (1,046,094) (2,173,142)
Net cash used in operating activities (324,091) (3,318,448)
Investing Activities    
Marketable securities 0 28,951
Issuance of Notes Receivable (400,000) 0
Payments received from notes receivable 748,148 694,962
Proceeds from sale of equipment 2,171,073 1,980,729
Purchases of property, plant and equipment (1,734,553) (2,112,990)
Net cash provided by investing activities 784,668 591,652
Financing Activities    
Payments on short term borrowings (revolver) (1,000,000) 0
Proceeds from short term borrowings (revolver) 10,000,000 0
Principal payments on long-term debt (5,688,866) (4,424,757)
Financing leases, net (161,906) 132,221
Purchase common stock for treasury (1,637,072) 0
Dividends paid (2,054,875) (2,062,492)
Net cash used in financing activities (542,719) (6,355,028)
Discontinued Operations    
Cash (used in) provided by operating activities (610,887) 3,546,530
Cash used in investing activities 0 (794,519)
Cash (used in) provided by discontinued operations (610,887) 2,752,011
Effect of exchange rate changes on cash (257,093) 239,561
Net change in cash and cash equivalents (950,122) (6,090,252)
Cash and cash equivalents at beginning of period 6,602,429 16,101,635
Cash and cash equivalents at end of period ? 5,652,307 10,011,384
Supplemental disclosure of cash flow information:    
Interest 1,753,699 1,839,729
Income taxes 3,197,375 866,850
Non-cash investing and financing activities    
Right of use asset 1,743,518 (820,561)
Lease liability $ (1,608,530) $ 688,341