PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2015

Property And Equipment

PROPERTY AND EQUIPMENT

The components of property and equipment at March 31, 2015 and December 31, 2014 consisted of the following:

	March 31,			December 31,
	2015			2014
	(unaudited)
Land	$	500,000		$	200,000
Buildings and Improvements		3,353,000			1,680,000		31.5 years
Machinery and Equipment		16,126,000			12,514,000		5 - 8 years
Capital Lease Machinery and Equipment		1,925,000			1,800,000		5 - 8 years
Tools and Instruments		5,650,000			5,566,000		1.5 - 7 years
Automotive Equipment		162,000			162,000		5 years
Furniture and Fixtures		286,000			275,000		5 - 8 years
Leasehold Improvements		657,000			646,000		Term of Lease
Computers and Software		398,000			372,000		4-6 years
Total Property and Equipment		29,057,000			23,215,000
Less: Accumulated Depreciation		(14,364,000	)		(13,658,000	)
Property and Equipment, net	$	14,693,000		$	9,557,000

Depreciation expense for the three months ended March 31, 2015 and 2014 was approximately $719,000 and $552,000, respectively.