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Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 525,632 $ 649,952
Accounts receivable, less allowance for doubtful accounts of $149,000 in 2011 and $134,000 in 2010 1,754,959 2,370,642
Inventories, net 2,845,563 2,545,200
Prepaid expenses 330,403 227,570
Deferred income taxes 278,437 358,481
Total current assets 5,734,994 6,151,845
Property, plant and equipment:    
Land 500 500
Buildings and leasehold improvements 754,922 397,136
Machinery and equipment 10,891,820 10,050,517
Total property, plant and equipment 11,647,242 10,448,153
Less allowance for depreciation and amortization (8,087,988) (7,442,888)
Net property, plant and equipment 3,559,254 3,005,265
Other noncurrent assets 47,259 41,545
Deferred income taxes 727,118 510,635
Total assets 10,068,625 9,709,290
Current liabilities:    
Accounts payable 2,025,656 1,992,819
Commissions, salaries, wages and taxes thereon 162,507 193,006
Income taxes payable 69,718 65,203
Revolving line of credit 700,000 0
Current portion of long-term debt 200,000 200,000
Deferred revenue 0 341,000
Other accrued expenses 491,188 348,524
Total current liabilities 3,649,069 3,140,552
Long-term liabilities:    
Long-term debt, net of current portion 600,000 800,000
Pension and other benefits 2,051,054 1,466,179
Total long-term liabilities 2,651,054 2,266,179
Total liabilities 6,300,123 5,406,731
Commitments and contingencies (Note 16)      
Stockholders' equity:    
Common stock, $1 par value: Authorized shares - 4,000,000 Issued shares - 1,871,999 and 1,834,106 in 2011 and 2010, respectively Outstanding shares - 1,679,999 and 1,642,108 in 2011 and 2010, respectively 1,871,999 1,834,106
Other capital 284,478 265,271
Retained earnings 5,001,097 4,964,006
Treasury stock at cost (192,000 shares) (2,112,000) (2,112,000)
Accumulated other comprehensive loss (1,277,072) (648,824)
Total stockholders' equity 3,768,502 4,302,559
Total liabilities and stockholders' equity $ 10,068,625 $ 9,709,290