15. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information [Text Block]

15. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2012 and 2011:

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2012
Net sales	$	53,325,918	$	44,408,358	$	72,539,400	$	58,043,987	$	228,317,663
Gross margin		18,022,081		15,351,627		26,182,580		20,730,302		80,286,590
Net income		720,687		218,564		5,367,437		2,548,077		8,854,765
Net income per common share:
Basic	$	0.10	$	0.03	$	0.72	$	0.34	$	1.18
Diluted	$	0.10	$	0.03	$	0.72	$	0.34	$	1.18

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2011
Net sales	$	52,306,275	$	52,282,632	$	71,020,546	$	63,989,643	$	239,599,096
Gross margin		19,265,945		20,617,328		25,590,157	$	22,457,325		87,930,755
Net income		541,616		2,279,700		5,212,267	$	273,312		8,306,895
Net income per common share:
Basic	$	0.07	$	0.30	$	0.70	$	0.04	$	1.11
Diluted	$	0.07	$	0.30	$	0.70	$	0.04	$	1.11

No cash dividends were paid during 2012 or 2011.

(a) Includes a retail inventory adjustment that reduced gross margin by $0.8 million

(b) Includes pension termination charges of approximately $3,653,000 or $0.49 per share, net of tax benefits.