XML 32 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)
Sep. 30, 2011
Dec. 31, 2010
Current assets:  
Cash and cash equivalents$ 1,917,000$ 1,964,000
Investments in marketable securities226,000146,000
Accounts receivable (less allowance for doubtful accounts of $145,000)3,929,0003,927,000
Inventories12,562,00011,627,000
Costs and estimated earnings in excess of billings on uncompleted contracts0468,000
Deferred tax asset379,000391,000
Other current assets891,0001,043,000
Total current assets19,904,00019,566,000
Property and equipment, net1,083,0001,172,000
Goodwill1,688,0001,688,000
Deferred tax asset.1,886,0001,847,000
Other assets100,000106,000
TOTAL ASSETS24,661,00024,379,000
Current liabilities:  
Note payable - bank0387,000
Accounts payable813,000794,000
Current portion of long-term debt931,000931,000
Liability associated with former chief executive officer813,0001,194,000
Income taxes payable35,0000
Accrued expenses1,139,0001,051,000
Customer advances63,000118,000
Deferred income85,00085,000
Total current liabilities3,879,0004,560,000
Deferred income22,00086,000
Liability associated with former chief executive officer, net of current portion7,000494,000
Long-term debt, net of current portion2,327,0003,026,000
Total liabilities6,235,0008,166,000
STOCKHOLDERS' EQUITY  
Common stock - $.10 par value, 10,000,000 shares authorized, 5,102,000 and 5,101,000 shares issued at 2011 and 2010, respectively, and 4,733,000 and 4,732,000 shares outstanding at 2011 and 2010, respectively.510,000510,000
Additional paid-in capital22,481,00022,360,000
Treasury stock, at cost, 369,000 shares at 2011 and 2010(915,000)(915,000)
Accumulated other comprehensive (loss) income, net of tax(27,000)19,000
Accumulated deficit(3,623,000)(5,761,000)
Total stockholders' equity18,426,00016,213,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$ 24,661,000$ 24,379,000