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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales $ 16,115,000 $ 17,373,000 $ 29,914,000 $ 35,034,000
Cost of goods sold, excluding depreciation and amortization 10,009,000 11,761,000 18,826,000 22,980,000
Gross profit 6,106,000 5,612,000 11,088,000 12,054,000
Operating expenses:        
Selling, general and administrative 4,575,000 4,065,000 8,888,000 8,371,000
Depreciation and amortization 219,000 227,000 462,000 439,000
Total operating expenses 4,794,000 4,292,000 9,350,000 8,810,000
Income from operations 1,312,000 1,320,000 1,738,000 3,244,000
Other income:        
Loss on fixed assets 0 (490,000) 0 (490,000)
Equity in income of unconsolidated affiliate 103,000 50,000 212,000 99,000
Interest income, net 169,000 10,000 327,000 11,000
Total other income 272,000 (430,000) 539,000 (380,000)
Income before provision for income taxes 1,584,000 890,000 2,277,000 2,864,000
Provision for income taxes 438,000 197,000 579,000 649,000
Net income $ 1,146,000 $ 693,000 $ 1,698,000 $ 2,215,000
Basic earnings per common share (in dollars per share) $ 0.10 $ 0.05 $ 0.14 $ 0.17
Diluted earnings per common share (in dollars per share) $ 0.10 $ 0.05 $ 0.14 $ 0.17
Basic weighted average common shares outstanding (in shares) 11,997,443 12,834,332 12,072,571 12,945,981
Diluted weighted average common shares outstanding (in shares) 12,013,845 12,908,223 12,103,419 13,032,313