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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 01, 2023
Jul. 02, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)        
Net sales $ 68,337,790 $ 69,540,054 $ 140,833,158 $ 138,554,702
Cost of products sold (53,189,948) (53,552,232) (110,187,615) (107,991,200)
Gross margin 15,147,842 15,987,822 30,645,543 30,563,502
Product development expense (1,431,110) (959,364) (2,832,309) (2,156,372)
Selling general and administrative expenses (11,289,037) (10,141,815) (23,226,674) (20,007,429)
Operating profit 2,427,695 4,886,643 4,586,560 8,399,701
Interest expense (781,104) (503,787) (1,507,110) (938,121)
Other income (expense) 252,180 511,810 378,520 1,000,330
Income from continuing operations before income taxes 1,898,771 4,894,666 2,700,930 8,461,910
Income tax expense (499,564) (1,193,877) (694,409) (2,075,002)
Net income from continuing operations 1,399,207 3,700,789 2,006,521 6,386,908
Discontinued Operations (see note B)        
Gain from operations of discontinued operations 0 459,563 0 930,749
Income tax expense 0 (123,737) 0 (250,604)
Gain from discontinued operations 0 335,826 0 680,145
Net income $ 1,399,207 $ 4,036,615 $ 2,006,521 $ 7,067,053
Earnings per share from continuing operations:        
Basic $ 0.22 $ 0.59 $ 0.32 $ 1.02
Diluted 0.22 0.59 0.32 1.02
Earnings per share from discontinued operations:        
Basic 0 0.06 0 0.11
Diluted 0 0.06 0 0.11
Total earnings per share:        
Basic 0.22 0.65 0.32 1.13
Diluted 0.22 0.65 0.32 1.13
Cash dividends per share: $ 0.11 $ 0.11 $ 0.22 $ 0.22