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Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Total sales $ 24,514,636 $ 13,593,192 $ 46,350,723 $ 25,471,892
Cost of Sales 19,287,703 10,106,614 36,293,902 18,966,873
Gross Profit 5,226,933 3,486,578 10,056,821 6,505,019
Operating Expenses:        
Product development costs 97,389 220,418
Selling, general and administrative expenses 2,435,380 1,572,244 4,694,197 3,824,571
Operating Income 2,791,553 1,816,945 5,362,624 2,460,030
Other (Income) and Expenses:        
Interest charges 284,579 80,755 550,652 166,688
Loss (gain) on sale of operations 1,160,574 1,160,574
Other (income) expense, net 25,535 49,450 1,661 108,266
Total Other (Income) and Expenses 310,114 1,290,779 552,313 1,435,528
Income before Provision for Income Taxes 2,481,439 526,166 4,810,311 1,024,502
Provision for Income Taxes 649,960 131,541 1,233,374 256,125
Net Income $ 1,831,479 $ 394,625 $ 3,576,937 $ 768,377
Net Income Per Common Share - Basic (in dollars per share) $ 0.66 $ 0.14 $ 1.30 $ 0.27
Net Income Per Common Share - Diluted (in dollars per share) $ 0.57 $ 0.13 $ 1.12 $ 0.24
Weighted Average Shares of Common Stock Outstanding        
Basic (in shares) 2,755,916 2,721,832 2,755,764 2,880,070
Diluted (in shares) 3,212,798 3,076,076 3,196,151 3,236,590