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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows related to operating activities:    
Net Income $ 1,727,000 $ 2,863,000
Adjustments to reconcile net income to net cash generated by operating activities:    
Depreciation and amortization 714,000 718,000
Stock based compensation 56,000 172,000
Increase/(Decrease) in allowance doubtful accounts 9,000 (181,000)
(Decrease)/Increase in inventory reserve (19,000) 132,000
Increase/(Decrease) in warranty reserve 10,000 (133,000)
Decrease in deferred income taxes 8,000  
Change in assets and liabilities:    
Accounts receivable (272,000) 3,106,000
Other receivables - ERC (999,000)  
Inventories 2,118,000 (5,076,000)
Prepaid income taxes 285,000 583,000
Other current assets (361,000) (120,000)
Accounts payable (264,000) (715,000)
Accrued employee compensation and benefit costs 559,000 3,000
Post retirement obligations 49,000 198,000
Other accrued liabilities 246,000 (74,000)
Net cash generated by operating activities 3,866,000 1,476,000
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (13,000) (593,000)
Net cash used by investing activities (13,000) (593,000)
Cash flows related to financing activities:    
Principal payments on long-term debt (774,000) (274,000)
Principal payments on equipment financing lease obligations (177,000) (148,000)
Proceeds from equipment note and equipment financing lease obligations 384,000  
Proceeds from line of credit 500,000 750,000
Proceeds from paycheck protection program   4,000,000
Purchase of treasury shares (81,000) (100,000)
Net cash (used)/generated by financing activities (148,000) 4,228,000
Net increase in cash 3,705,000 5,111,000
Cash at beginning of period 5,935,000 2,029,000
Cash at end of period $ 9,640,000 $ 7,140,000