LEASING ARRANGEMENTS

12 Months Ended

Dec. 31, 2013

LEASING ARRANGEMENTS [Abstract]

LEASING ARRANGEMENTS

  15.  LEASING ARRANGEMENTS:   The Company entered into a sale-leaseback of its New York operating facility in 2001. Effective January 1, 2011, the Company entered into an amendment to the lease. The amendment extended the lease expiration date to December 31, 2021 and modified the annual lease payments as follows; approximately $390,000 for the years 2011 through 2013, approximately $424,800 for the years 2014 through 2016, and approximately $463,200 for the years 2017 through 2021. The Company’s landlord agreed, at its sole expense, to make certain improvements to the facility.   In April 2009, the Company’s TDL subsidiary entered into a five year lease for a new operating facility in Quakertown, PA commencing November 1, 2009 and expiring October 31, 2014. Annual rent payments pursuant to an amendment to the lease were approximately $183,600 for the first four years of the lease and approximately $213,600 for year five of the lease. In October 2013, the Company decided to consolidate its Quakertown, PA facility into its Hauppauge, NY facility. The consolidation should be completed by June 30, 2014.   Additional operating leases are for the ICS facility, a sales office, vehicles and office equipment.   The Company has escalation clauses which are recognized on a straight line basis over the life of the lease. The amounts are recorded in accrued expenses in the accompanying consolidated financial statements.   Future minimum lease payments as of December 31, 2013 under all operating lease agreements that have initial or remaining noncancelable lease terms in excess of one year are as follows:

Year ending December 31,
2014	$	694,000
2015		475,000
2016		475,000
2017		506,000
2018		463,000
2019 and thereafter		1,389,000
Total future minimum lease payments	$	4,002,000

Rent expense for operating leases was approximately $766,000 and $715,000 for the years ended December 31, 2013 and 2012, respectively.