XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 2,562,000 $ 610,000
Investments in marketable securities 243,000 251,000
Accounts receivable, less allowance for doubtful accounts of $145,000 2,981,000 5,372,000
Inventories 11,803,000 13,271,000
Costs and estimated earnings in excess of billings on uncompleted contracts 0 875,000
Deferred tax asset 0 447,000
Other current assets 264,000 252,000
Total current assets 17,853,000 21,078,000
Property and equipment, net 975,000 1,099,000
Goodwill 868,000 868,000
Deferred tax asset 0 1,806,000
Other assets 35,000 125,000
Total Assets 19,731,000 24,976,000
Current Liabilities:    
Note payable - bank 2,100,000 3,324,000
Current portion of long-term debt 0 33,000
Accounts payable 510,000 741,000
Liability associated with non-renewal of senior officer contract 36,000 661,000
Income taxes payable 25,000 2,000
Accrued expenses 1,149,000 1,294,000
Customer advances 17,000 88,000
Total current liabilities 3,837,000 6,143,000
Liability associated with non-renewal of senior officer contract, net of current portion 4,000 41,000
Long-term debt, net of current portion 0 8,000
Total liabilities 3,841,000 6,192,000
Stockholders' Equity:    
Common stock, $.10 par value, 10,000,000 shares authorized, 5,232,000 and 5,102,000 shares issued at 2013 and 2012, respectively and 4,521,000 and 4,515,000 shares outstanding at 2013 and 2012, respectively 523,000 510,000
Additional paid-in capital 22,824,000 22,726,000
Treasury stock, at cost, 711,000 and 587,000 shares at 2013 and 2012, respectively (2,133,000) (1,700,000)
Accumulated other comprehensive loss (5,000) (3,000)
Accumulated deficit (5,319,000) (2,749,000)
Stockholders' equity 15,890,000 18,784,000
Total Liabilities and Stockholders' Equity $ 19,731,000 $ 24,976,000