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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current Assets:    
Cash and cash equivalents $ 1,709,000 $ 1,964,000
Restricted cash 671,000 0
Investments in marketable securities 228,000 146,000
Accounts receivable, less allowance for doubtful accounts of $145,000 4,941,000 3,927,000
Inventories 12,550,000 11,627,000
Costs and estimated earnings in excess of billings on uncompleted contracts 0 468,000
Deferred tax asset 527,000 391,000
Other current assets 250,000 1,043,000
Total current assets 20,876,000 19,566,000
Property and equipment, net 1,014,000 1,172,000
Goodwill 1,688,000 1,688,000
Deferred tax asset 1,734,000 1,847,000
Other assets 99,000 106,000
Total Assets 25,411,000 24,379,000
Current Liabilities:    
Current portion of long-term debt 931,000 931,000
Notes payable - bank 0 387,000
Accounts payable 804,000 794,000
Liability associated with former chief executive officer 623,000 1,194,000
Income taxes payable 30,000 0
Accrued expenses 1,435,000 1,136,000
Customer advances 15,000 118,000
Total current liabilities 3,838,000 4,560,000
Deferred income 0 86,000
Liability associated with former chief executive officer, net of current portion 0 494,000
Long-term debt, net of current portion 2,095,000 3,026,000
Total liabilities 5,933,000 8,166,000
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 510,000 510,000
Additional paid-in capital 22,515,000 22,360,000
Treasury stock, at cost, 369,000 shares at 2011 and 2010 (915,000) (915,000)
Accumulated other comprehensive (loss) income, net of income tax (18,000) 19,000
Accumulated deficit (2,614,000) (5,761,000)
Stockholders' equity 19,478,000 16,213,000
Total Liabilities and Stockholders' Equity $ 25,411,000 $ 24,379,000