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Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Total sales $ 13,593,192 $ 7,220,626 $ 25,471,892 $ 10,566,941
Cost of Sales 10,106,614 4,191,480 18,966,873 6,160,281
Gross Profit 3,486,578 3,029,146 6,505,019 4,406,660
Operating Expenses:        
Product development costs 97,389 179,840 220,418 397,156
Selling, general and administrative expenses 1,572,244 1,540,381 3,824,571 2,434,683
Operating Income 1,816,945 1,308,925 2,460,030 1,574,821
Other (Income) and Expenses:        
Interest charges 80,755 66,695 166,688 114,887
Loss (gain) on sale of operations 1,160,574 1,160,574 0
Other (income) expense, net 49,450 263,334 108,266 259,771
Total Other (Income) and Expenses 1,290,779 330,029 1,435,528 374,658
Income before Provision for Income Taxes 526,166 978,896 1,024,502 1,200,163
Provision for Income Taxes 131,541 37,373 256,125 45,500
Net Income $ 394,625 $ 941,523 $ 768,377 $ 1,154,663
Net Income Per Common Share - Basic (in dollars per share) $ 0.14 $ 0.33 $ 0.27 $ 0.40
Net Income Per Common Share - Diluted (in dollars per share) $ 0.13 $ 0.31 $ 0.24 $ 0.38
Weighted Average Shares of Common Stock Outstanding – Basic (in shares) 2,721,832 2,880,719 2,880,070 2,879,115
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares) 3,076,076 3,072,400 3,236,590 3,043,619