Segment Reporting

9 Months Ended

Sep. 30, 2013

Notes

Segment Reporting

6.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes cold-formed parts, rivets 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 September 30, 2013:
Net sales	$   8,631,105	$   830,673	0	$   9,461,778
Depreciation	237,621	14,050	19,199	270,870
Segment profit	1,453,799	228,013	0	1,681,812
Selling and administrative expenses	0	0	(539,643)	(539,643)
Gain from disposal of equipment	0	0	74,235	74,235
Interest income	0	0	7,801	7,801
Income before income taxes				$ 1,224,205
Capital expenditures	518,150	0	267,221	785,371
Segment assets:
Accounts receivable, net	5,873,916	374,487	0	6,248,403
Inventories, net	3,994,869	899,652	0	4,894,521
Property, plant and equipment, net	8,309,105	1,124,031	554,882	9,988,018
Other assets	0	0	7,658,231	7,658,231
				$ 28,789,173
Three Months Ended September 30, 2012:
Net sales	$  7,841,672	$   695,967	0	$   8,537,639
Depreciation	216,732	14,725	19,907	251,364
Segment profit	1,024,865	144,816	0	1,169,681
Selling and administrative expenses	0	0	(504,524)	(504,524)
Interest income	0	0	8,185	8,185
Income before income taxes				$ 673,342
Capital expenditures	66,626	0	0	66,626
Segment assets:
Accounts receivable, net	5,061,072	392,121	0	5,453,193
Inventories, net	4,392,211	822,550	0	5,214,761
Property, plant and equipment, net	5,981,212	1,122,542	628,153	7,731,907
Other assets	0	0	8,150,878	8,150,878
				$ 26,550,739
Nine Months Ended September 30, 2013:
Net sales	$   25,397,537	$  2,517,620	0	$   27,915,157
Depreciation	702,089	42,150	57,450	801,689
Segment profit	3,615,776	677,939	0	4,293,715
Selling and administrative expenses	0	0	(1,601,772)	(1,601,772)
Gain from disposal of equipment	0	0	116,721	116,721
Interest income	0	0	23,286	23,286
Income before income taxes				$ 2,831,950
Capital expenditures	2,429,172	59,863	271,285	2,760,320
Nine Months Ended September 30, 2012:
Net sales	$  23,781,773	$  2,385,385	0	$  26,167,158
Depreciation	644,853	42,975	55,822	743,650
Segment profit	2,957,672	577,581	0	3,535,253
Selling and administrative expenses	0	0	(1,559,115)	(1,559,115)
Gain from disposal of equipment	0	0	57,500	57,500
Interest income	0	0	24,870	24,870
Income before income taxes				$ 2,058,508
Capital expenditures	472,672	68,203	39,157	580,032