XML 24 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,891,103 $ 594,621
Adjustments to reconcile net income to net cash used in operating activities:    
Gain on sale of investment securities available for sale (8,410)  
Gain on disposal of equipment (273,862)  
Change in accounts receivable and inventory reserves (275,203) 51,032
Depreciation and amortization 439,171 325,654
Change in cash surrender value of life insurance (5,246) (17,001)
Warranty reserve (151,600) 94,447
Compensation expense related to stock options 8,958 12,449
Change in operating assets and liabilities:    
Accounts receivable (6,508,320) (1,465,530)
Notes receivable and other non-trade receivables 443,227 56,078
Inventories 3,638,530 (5,770,909)
Prepaid expenses and other 210,050 (898,030)
Accounts payable (797,292) 1,899,948
Accrued expenses 34,710 (128,949)
Income taxes receivable/ payable 777,735 (183,000)
Total adjustments (2,467,553) (6,023,811)
Net cash used in operating activities (576,450) (5,429,190)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities available for sale (3,973,218)  
Proceeds from sale of investment securities available for sale 511,571  
Capital expenditures (1,553,223) (144,275)
Proceeds from sale of assets 823,671  
Net cash used in investing activities (4,191,199) (144,275)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from line of credit 1,330,888 783,222
Payment of cash dividend   (733,885)
Repurchase of stock options (112,935)  
Net cash provided by financing activities 1,217,953 49,337
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,549,696) (5,524,128)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,758,888 9,197,492
CASH AND CASH EQUIVALENTS AT END OF PERIOD 209,192 3,673,364
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING ACTIVITIES:    
Finished goods inventory transferred to equipment leased to customers 1,132,115 788,239
Cash paid during the period for:    
Interest 16,280 900
Income taxes $ 804,200 $ 573,000