Consolidated Statements of Income - USD ($) |
12 Months Ended | |
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Dec. 31, 2016 |
Dec. 31, 2015 |
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Revenue | ||
Products sales and leasing | $ 30,983,368 | $ 23,855,724 |
Shipping and installation revenue | 7,272,797 | 3,606,205 |
Royalties | 1,793,881 | 1,742,310 |
Total revenue | 40,050,046 | 29,204,239 |
Cost of goods sold | 29,701,150 | 22,093,834 |
Gross profit | 10,348,896 | 7,110,405 |
General and administrative expenses | 3,891,472 | 3,365,513 |
Selling expenses | 2,120,978 | 2,168,013 |
Total operating expenses | 6,012,450 | 5,533,526 |
Operating income | 4,336,446 | 1,576,879 |
Other income (expense) | ||
Interest expense | (162,529) | (103,086) |
Interest income | 36,684 | 35,720 |
Gain on sale of assets | 32,140 | 17,381 |
Other income | 54,459 | 74,410 |
Total other income (expense) | (39,246) | 24,425 |
Income before income tax expense | 4,297,200 | 1,601,304 |
Income tax expense | 1,462,000 | 557,000 |
Net income | $ 2,835,200 | $ 1,044,304 |
Basic earnings per share (in dollars per share) | $ 0.57 | $ 0.21 |
Diluted earnings per share (in dollars per share) | $ 0.56 | $ 0.21 |
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- Definition Products sales and leasing No definition available.
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- Definition Shipping and installation revenue No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Interest earned on deposits in United States money market accounts and other United States interest earning accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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