XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Balance Sheets - USD ($)
Dec. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 8,299,453 $ 10,187,522
Marketable Securities 986,477 0
Accounts receivable, less allowances: 2023-$564,816; 2022-$676,678 37,057,488 42,886,250
Inventories:    
Raw materials and component parts 24,500,087 25,924,696
Work in process 9,957,068 9,323,082
Finished goods 24,815,052 29,388,813
Inventories net 59,272,207 64,636,591
Current portion of note receivable 573,269 1,006,421
Prepaid expenses and other assets 6,047,814 6,598,774
Total Current Assets 112,236,708 125,315,558
Property, Plant and Equipment    
Land 824,344 824,344
Buildings 14,243,082 14,360,165
Machinery and equipment 45,202,670 40,928,380
Accumulated depreciation (31,980,335) (30,000,797)
Property, Plant and Equipment, net 28,289,761 26,112,092
Other Assets    
Goodwill 70,776,893 70,777,459
Trademarks 5,514,960 5,514,886
Patents, technology and other intangibles net of accumulated amortization 15,325,927 18,819,897
Long term note receivable, less current portion 374,932 2,276,631
Deferred income taxes 2,283,571 488,989
Right of Use Assets 17,236,449 12,217,521
Total Other Assets 111,512,732 110,095,383
TOTAL ASSETS 252,039,201 261,523,033
Current Liabilities    
Accounts payable 25,319,473 27,638,317
Accrued compensation 5,379,381 3,327,832
Other accrued expenses 4,556,623 3,944,964
Current portion of operating lease liability 4,424,369 3,059,547
Current portion of financing lease liability 182,010 0
Current portion of long-term debt 2,871,870 9,010,793
Total Current Liabilities 42,733,726 46,981,453
Other long-term liabilities 640,724 754,762
Operating lease liability, less current portion 12,812,079 9,195,205
Financing lease liability, less current portion 728,100 0
Long-term debt, less current portion 41,063,865 55,136,231
Accrued postretirement benefits 554,758 666,222
Accrued pension cost 21,025,365 22,174,465
Total Liabilities 119,558,617 134,908,338
Shareholders' Equity    
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 9,091,815 shares in 2023 and 9,056,421 shares in 2022 Outstanding: 6,217,370 shares in 2023 and 6,221,976 shares in 2022 33,950,859 33,586,165
Treasury Stock: 2,874,445 shares in 2023 and 2,834,445 shares in 2022 (23,280,467) (22,544,684)
Retained earnings 144,805,168 138,985,852
Accumulated other comprehensive loss:    
Foreign currency translation (866,599) (1,140,978)
Unrealized gain on interest rate swap, net of tax 0 1,449,754
Unrecognized net pension and postretirement benefit costs, net of tax (22,128,377) (23,721,414)
Accumulated other comprehensive loss (22,994,976) (23,412,638)
Total Shareholders' Equity 132,480,584 126,614,695
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 252,039,201 $ 261,523,033