Segment Reporting

6 Months Ended

Jun. 30, 2013

Notes

Segment Reporting

6.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes rivets, cold-formed fasteners and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.  Information by segment is as follows:

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended June 30, 2013:
Net sales	$   8,463,688	$   863,955	0	$   9,327,643
Depreciation	231,989	14,050	19,199	265,238
Segment profit	1,165,813	237,510	0	1,403,323
Selling and administrative expenses	0	0	(515,596)	(515,596)
Gain from disposal of equipment	0	0	42,486	42,486
Interest income	0	0	7,000	7,000
Income before income taxes				$ 937,213
Capital expenditures	1,862,043	30,316	0	1,892,359
Segment assets:
Accounts receivable, net	5,449,624	351,516	0	5,801,140
Inventories, net	4,204,473	787,779	0	4,992,252
Property, plant and equipment, net	7,762,120	1,138,081	574,081	9,474,282
Other assets	0	0	7,486,553	7,486,553
				$ 27,754,227
Three Months Ended June 30, 2012:
Net sales	$  7,605,981	$   823,220	0	$   8,429,201
Depreciation	216,207	14,125	17,958	248,290
Segment profit	882,371	231,433	0	1,113,804
Selling and administrative expenses	0	0	(493,705)	(493,705)
Gain from disposal of equipment	0	0	27,500	27,500
Interest income	0	0	7,833	7,833
Income before income taxes				$ 655,432
Capital expenditures	269,281	68,203	39,157	376,641
Segment assets:
Accounts receivable, net	5,055,675	365,217	0	5,420,892
Inventories, net	4,430,149	797,329	0	5,227,478
Property, plant and equipment, net	6,131,318	1,137,267	648,060	7,916,645
Other assets	0	0	7,453,905	7,453,905
				$ 26,018,920
Six Months Ended June 30, 2013:
Net sales	$   16,766,432	$  1,686,947	0	$   18,453,379
Depreciation	464,468	28,100	38,251	530,819
Segment profit	2,161,977	449,926	0	2,611,903
Selling and administrative expenses	0	0	(1,062,129)	(1,062,129)
Gain from disposal of equipment	0	0	42,486	42,486
Interest income	0	0	15,485	15,485
Income before income taxes				$ 1,607,745
Capital expenditures	1,911,022	59,863	4,064	1,974,949
Six Months Ended June 30, 2012:
Net sales	$  15,940,101	$  1,689,418	0	$  17,629,519
Depreciation	428,121	28,250	35,915	492,286
Segment profit	1,932,807	432,765	0	2,365,572
Selling and administrative expenses	0	0	(1,054,591)	(1,054,591)
Gain from disposal of equipment	0	0	57,500	57,500
Interest income	0	0	16,685	16,685
Income before income taxes				$ 1,385,166
Capital expenditures	406,046	68,203	39,157	513,406