15. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

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, 2013 and 2012 (certain amounts from prior year have been reclassified to conform to current year presentation):

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2013
Net sales	$	53,715,476	$	59,419,751	$	70,176,216	$	61,559,288	$	244,870,731
Gross margin		18,670,770		20,310,487		22,739,670		21,821,524		83,542,451
Net income		892,096		1,772,280		2,934,196		1,774,184		7,372,756
Dividends paid		-		750,357		752,933		751,645		2,254,935
Net income per common share:
Basic	$	0.12	$	0.24	$	0.39	$	0.24	$	0.98
Diluted	$	0.12	$	0.24	$	0.39	$	0.24	$	0.98

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total Year
2012
Net sales	$	53,325,918	$	44,408,358	$	72,539,400	$	58,263,374	$	228,537,050
Gross margin		18,022,081		15,351,627		26,182,580		20,949,689		80,505,977
Net income		720,687		218,564		5,367,437		2,548,077		8,854,765
Dividends paid		0		0		0		0		0
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

No cash dividends were paid during 2012.

(a) Includes after-tax acquisition related expenses of $0.1 million and $0.7 million for the third and fourth quarter, respectively, as discussed in Note 16.