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Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 589,325 $ 649,952
Accounts receivable, less allowance for doubtful accounts of approximately $155,000 in 2011 and $134,000 in 2010 1,690,126 2,370,642
Inventories, net 2,788,409 2,545,200
Prepaid expenses 267,440 227,570
Deferred income taxes 397,871 358,481
Total current assets 5,733,171 6,151,845
Property, plant and equipment:    
Land 500 500
Buildings and leasehold improvements 983,800 397,136
Machinery and equipment 10,383,604 10,050,517
Total property, plant and equipment 11,367,904 10,448,153
Less allowance for depreciation and amortization (7,794,878) (7,442,888)
Net property, plant and equipment 3,573,026 3,005,265
Other noncurrent assets 47,255 41,545
Deferred income taxes 411,827 510,635
Total assets 9,765,279 9,709,290
Current liabilities:    
Accounts payable 2,025,070 1,992,819
Commissions, salaries, wages, and taxes thereon 125,032 193,006
Income taxes payable 69,278 65,203
Revolving line of credit 500,000 0
Current portion of long-term debt 200,000 200,000
Deferred revenue 10,000 341,000
Other accrued expenses 393,815 348,524
Total current liabilities 3,323,195 3,140,552
Long-term liabilities:    
Long-term debt, net of current portion 700,000 800,000
Pension and other benefits 1,470,484 1,466,179
Total long-term liabilities 2,170,484 2,266,179
Total liabilities 5,493,679 5,406,731
Commitments and contingencies (Note 12)    
Stockholders' equity:    
Common stock, $1.00 par value: Authorized shares - 4,000,000; Issued shares - 1,852,440 in 2011 and 1,834,106 in 2010; Outstanding shares - 1,660,440 in 2011 and 1,642,106 in 2010 1,852,440 1,834,106
Other capital 277,037 265,271
Retained earnings 4,894,146 4,964,006
Treasury stock at cost, 192,000 shares (2,112,000) (2,112,000)
Accumulated other comprehensive loss (640,023) (648,824)
Total stockholders' equity 4,271,600 4,302,559
Total liabilities and stockholders' equity $ 9,765,279 $ 9,709,290