Note 9 - Income Taxes

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Text Block]

9.        Income Taxes

The provision for income taxes consisted of the following:

	For the Years Ended December 31,
	2011		2010
Current	$	493,000	$	1,033,000
Deferred		55,000		(253,000	)
	$	548,000	$	780,000

Deferred income tax assets (liabilities) were comprised of the following:

	December 31,
	2011			2010
Deferred income tax assets:
Foreign tax credits	$	92,000		$	105,000
Temporary differences:
Inventory reserve		103,000			158,000
Intangible assets		3,000			9,000
State income taxes		(10,000	)		8,000
Accrued expenses and inventory		368,000			300,000
Gross deferred income tax assets		556,000			580,000
Deferred income tax liabilities:
Temporary differences:
Property and equipment		(778,000	)		(753,000	)
State income taxes		(29,000	)		(23,000	)
Gross deferred tax liabilities		(807,000	)		(776,000	)
Net deferred income tax liability	$	(251,000	)	$	(196,000	)

The provision for income taxes differs from the amount that would be obtained by applying the U.S. statutory rate to income before income taxes as a result of the following:

	For the Years Ended December 31,
	2011			2010
Income taxes based on U.S. statutory rate of 34%	$	504,000		$	708,000
Non-deductible meals and entertainment		4,000			6,000
Domestic manufacturer's deduction		(33,000	)		(44,000	)
State taxes		32,000			38,000
Other		41,000			72,000
	$	548,000		$	780,000