0001193125-16-673456.txt : 20160805 0001193125-16-673456.hdr.sgml : 20160805 20160805160243 ACCESSION NUMBER: 0001193125-16-673456 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 32 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160805 DATE AS OF CHANGE: 20160805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHICAGO RIVET & MACHINE CO CENTRAL INDEX KEY: 0000019871 STANDARD INDUSTRIAL CLASSIFICATION: METALWORKING MACHINERY & EQUIPMENT [3540] IRS NUMBER: 360904920 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-01227 FILM NUMBER: 161811146 BUSINESS ADDRESS: STREET 1: 901 FRONTENAC RD STREET 2: P O BOX 3061 CITY: NAPERVILLE STATE: IL ZIP: 60566 BUSINESS PHONE: 6303578500 MAIL ADDRESS: STREET 1: 901 FRONTENAC RD STREET 2: P O BOX 3061 CITY: NAPERVILLE STATE: IL ZIP: 60566 10-Q 1 d236743d10q.htm 10-Q 10-Q
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 10-Q

 

 

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2016

OR

 

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 000-01227

 

 

Chicago Rivet & Machine Co.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Illinois   36-0904920

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

 

901 Frontenac Road, Naperville, Illinois   60563
(Address of Principal Executive Offices)   (Zip Code)

(630) 357-8500

Registrant’s Telephone Number, Including Area Code

 

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every interactive data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer   ¨    Accelerated filer   ¨
Non-accelerated filer   ¨  (Do not check if smaller reporting company)    Smaller reporting company   x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

As of August 1, 2016, there were 966,132 shares of the registrant’s common stock outstanding.

 

 

 


Table of Contents

CHICAGO RIVET & MACHINE CO.

INDEX

 

PART I.  

FINANCIAL INFORMATION (Unaudited)

     Page   

Condensed Consolidated Balance Sheets at June 30, 2016 and December 31, 2015

     2-3   

Condensed Consolidated Statements of Income for the Three and Six Months Ended June 30, 2016 and 2015

     4   

Condensed Consolidated Statements of Retained Earnings for the Six Months Ended June 30, 2016 and 2015

     5   

Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2016 and 2015

     6   

Notes to the Condensed Consolidated Financial Statements

     7-10   

Management’s Discussion and Analysis of Financial Condition and Results of Operations

     11-12   

Controls and Procedures

     13   
PART II.  

OTHER INFORMATION

     14-20   

 

1


Table of Contents

Item 1. Financial Statements.

CHICAGO RIVET & MACHINE CO.

Condensed Consolidated Balance Sheets

June 30, 2016 and December 31, 2015

 

     June 30,
2016
     December 31,
2015
 
     (Unaudited)         
Assets      

Current Assets:

     

Cash and cash equivalents

   $ 907,384       $ 800,894   

Certificates of deposit

     6,565,000         6,565,000   

Accounts receivable—Less allowances of $150,000

     6,278,622         5,438,332   

Inventories, net

     4,991,208         4,538,212   

Prepaid income taxes

     —           273,112   

Other current assets

     319,604         383,953   
  

 

 

    

 

 

 

Total current assets

     19,061,818         17,999,503   
  

 

 

    

 

 

 

Property, Plant and Equipment:

     

Land and improvements

     1,424,689         1,281,982   

Buildings and improvements

     7,478,507         7,271,006   

Production equipment and other

     33,613,257         33,295,529   
  

 

 

    

 

 

 
     42,516,453         41,848,517   

Less accumulated depreciation

     30,488,131         30,150,074   
  

 

 

    

 

 

 

Net property, plant and equipment

     12,028,322         11,698,443   
  

 

 

    

 

 

 

Total assets

   $ 31,090,140       $ 29,697,946   
  

 

 

    

 

 

 

See Notes to the Condensed Consolidated Financial Statements

 

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CHICAGO RIVET & MACHINE CO.

Condensed Consolidated Balance Sheets

June 30, 2016 and December 31, 2015

 

     June 30,
2016
    December 31,
2015
 
     (Unaudited)        
Liabilities and Shareholders’ Equity     

Current Liabilities:

    

Accounts payable

   $ 1,240,204      $ 768,111   

Accrued wages and salaries

     892,712        611,484   

Other accrued expenses

     470,217        465,662   

Unearned revenue and customer deposits

     263,732        467,189   
  

 

 

   

 

 

 

Total current liabilities

     2,866,865        2,312,446   

Deferred income taxes

     879,084        894,084   
  

 

 

   

 

 

 

Total liabilities

     3,745,949        3,206,530   
  

 

 

   

 

 

 

Commitments and contingencies (Note 3)

    

Shareholders’ Equity:

    

Preferred stock, no par value, 500,000 shares authorized: none outstanding

     —          —     

Common stock, $1.00 par value, 4,000,000 shares authorized:

    

1,138,096 shares issued; 966,132 shares outstanding

     1,138,096        1,138,096   

Additional paid-in capital

     447,134        447,134   

Retained earnings

     29,681,059        28,828,284   

Treasury stock, 171,964 shares at cost

     (3,922,098     (3,922,098
  

 

 

   

 

 

 

Total shareholders’ equity

     27,344,191        26,491,416   
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

   $ 31,090,140      $ 29,697,946   
  

 

 

   

 

 

 

See Notes to the Condensed Consolidated Financial Statements

 

3


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CHICAGO RIVET & MACHINE CO.

Condensed Consolidated Statements of Income

For the Three and Six Months Ended June 30, 2016 and 2015

(Unaudited)

 

     Three Months Ended
June 30,
     Six Months Ended
June 30,
 
     2016      2015      2016      2015  

Net sales

   $ 9,820,730       $ 9,206,174       $ 19,417,125       $ 18,489,965   

Cost of goods sold

     7,211,820         6,958,664         14,379,598         14,148,590   
  

 

 

    

 

 

    

 

 

    

 

 

 

Gross profit

     2,608,910         2,247,510         5,037,527         4,341,375   

Selling and administrative expenses

     1,449,902         1,408,854         2,908,621         2,834,679   
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating profit

     1,159,008         838,656         2,128,906         1,506,696   

Other income

     16,051         10,305         29,210         20,738   
  

 

 

    

 

 

    

 

 

    

 

 

 

Income before income taxes

     1,175,059         848,961         2,158,116         1,527,434   

Provision for income taxes

     380,000         278,000         716,000         494,000   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income

   $ 795,059       $ 570,961       $ 1,442,116       $ 1,033,434   
  

 

 

    

 

 

    

 

 

    

 

 

 

Per share data, basic and diluted:

           

Net income per share

   $ 0.82       $ 0.59       $ 1.49       $ 1.07   
  

 

 

    

 

 

    

 

 

    

 

 

 

Average common shares outstanding

     966,132         966,132         966,132         966,132   
  

 

 

    

 

 

    

 

 

    

 

 

 

Cash dividends declared per share

   $ 0.18       $ 0.18       $ 0.61       $ 0.61   
  

 

 

    

 

 

    

 

 

    

 

 

 

See Notes to the Condensed Consolidated Financial Statements

 

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Table of Contents

CHICAGO RIVET & MACHINE CO.

Condensed Consolidated Statements of Retained Earnings

For the Six Months Ended June 30, 2016 and 2015

(Unaudited)

 

     2016     2015  

Retained earnings at beginning of period

   $ 28,828,284      $ 28,077,791   

Net income

     1,442,116        1,033,434   

Cash dividends declared in the period; $.61 per share in 2016 and 2015

     (589,341     (589,341
  

 

 

   

 

 

 

Retained earnings at end of period

   $ 29,681,059      $ 28,521,884   
  

 

 

   

 

 

 

See Notes to the Condensed Consolidated Financial Statements

 

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CHICAGO RIVET & MACHINE CO.

Condensed Consolidated Statements of Cash Flows

For the Six Months Ended June 30, 2016 and 2015

(Unaudited)

 

     2016     2015  

Cash flows from operating activities:

    

Net income

   $ 1,442,116      $ 1,033,434   

Adjustments to reconcile net income to net cash provided by operating activities:

  

Depreciation

     607,477        627,475   

Loss on disposal of equipment

     318        3,719   

Deferred income taxes

     (15,000     (38,000

Changes in operating assets and liabilities:

    

Accounts receivable

     (840,290     (236,992

Inventories

     (452,996     151,945   

Other current assets

     337,461        63,541   

Accounts payable

     469,508        230,949   

Accrued wages and salaries

     281,228        284,720   

Other accrued expenses

     4,555        (134,562

Unearned revenue and customer deposits

     (203,457     104,962   
  

 

 

   

 

 

 

Net cash provided by operating activities

     1,630,920        2,091,191   
  

 

 

   

 

 

 

Cash flows from investing activities:

    

Capital expenditures

     (936,111     (868,605

Proceeds from the sale of equipment

     1,022        —     

Proceeds from certificates of deposit

     2,988,000        4,813,000   

Purchases of certificates of deposit

     (2,988,000     (4,075,000
  

 

 

   

 

 

 

Net cash used in investing activities

     (935,089     (130,605
  

 

 

   

 

 

 

Cash flows from financing activities:

    

Cash dividends paid

     (589,341     (589,341
  

 

 

   

 

 

 

Net cash used in financing activities

     (589,341     (589,341
  

 

 

   

 

 

 

Net increase in cash and cash equivalents

     106,490        1,371,245   

Cash and cash equivalents at beginning of period

     800,894        231,252   
  

 

 

   

 

 

 

Cash and cash equivalents at end of period

   $ 907,384      $ 1,602,497   
  

 

 

   

 

 

 

Supplemental schedule of non-cash investing activities:

    

Capital expenditures in accounts payable

   $ 2,585      $ 18,250   

See Notes to the Condensed Consolidated Financial Statements

 

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CHICAGO RIVET & MACHINE CO.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. In the opinion of the Company, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the financial position of the Company as of June 30, 2016 (unaudited) and December 31, 2015 (audited) and the results of operations and changes in cash flows for the indicated periods. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted from these unaudited financial statements in accordance with applicable rules. Please refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The results of operations for the three and six-month period ending June 30, 2016 are not necessarily indicative of the results to be expected for the year.

2. The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry. The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.

3. The Company is, from time to time, involved in litigation, including environmental claims and contract disputes, in the normal course of business. While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company’s financial position.

4. The Company’s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively. Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199.

In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”) to simplify the presentation of deferred income taxes. Under this update, all deferred income tax assets and liabilities, along with any related valuation allowance, are required to be classified as noncurrent on the balance sheet. Effective January 1, 2016, the Company early adopted ASU No. 2015-17 and retrospectively reclassified $425,191 of current deferred income tax assets to long-term deferred income tax liability on the December 31, 2015 consolidated balance sheet.

The Company’s federal income tax returns for the 2012 through 2015 tax years are subject to examination by the Internal Revenue Service (“IRS”). While it may be possible that a reduction could occur with respect to the Company’s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company. No statutes have been extended on any of the Company’s federal income tax filings. The statute of limitations on the Company’s 2012 through 2015 federal income tax returns will expire on September 15, 2016 through 2019, respectively.

The Company’s state income tax returns for the 2012 through 2015 tax years remain subject to examination by various state authorities with the latest closing period on October 31, 2019. The Company is not currently under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.

 

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5. Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method. A summary of inventories is as follows:

 

     June 30, 2016      December 31, 2015  

Raw material

   $ 2,034,329       $ 1,923,932   

Work-in-process

     1,976,821         1,606,389   

Finished goods

     1,539,058         1,584,891   
  

 

 

    

 

 

 

Inventory, gross

     5,550,208         5,115,212   

Valuation reserves

     (559,000      (577,000
  

 

 

    

 

 

 

Inventory, net

   $ 4,991,208       $ 4,538,212   
  

 

 

    

 

 

 

 

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Table of Contents

CHICAGO RIVET & MACHINE CO.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

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, 2016:

           

Net sales

   $ 8,858,036       $ 962,694       $ —         $ 9,820,730   

Depreciation

     268,450         22,032         17,640         308,122   

Segment operating profit

     1,487,070         345,575         —           1,832,645   

Selling and administrative expenses

     —           —           (667,149      (667,149

Interest income

     —           —           9,563         9,563   
           

 

 

 

Income before income taxes

            $ 1,175,059   
           

 

 

 

Capital expenditures

     298,237         7,180         33,898         339,315   

Segment assets:

           

Accounts receivable, net

     5,979,118         299,504         —           6,278,622   

Inventories, net

     3,976,986         1,014,222         —           4,991,208   

Property, plant and equipment, net

     9,887,971         1,613,944         526,407         12,028,322   

Other assets

     —           —           7,791,988         7,791,988   
           

 

 

 
            $ 31,090,140   
           

 

 

 

Three Months Ended June 30, 2015:

           

Net sales

   $ 8,276,263       $ 929,911       $ —         $ 9,206,174   

Depreciation

     275,612         20,097         19,121         314,830   

Segment operating profit

     1,129,353         293,002         —           1,422,355   

Selling and administrative expenses

     —           —           (579,611      (579,611

Interest income

     —           —           6,217         6,217   
           

 

 

 

Income before income taxes

            $ 848,961   
           

 

 

 

Capital expenditures

     108,726         344,367         20,078         473,171   

Segment assets:

           

Accounts receivable, net

     5,546,859         359,787         —           5,906,646   

Inventories, net

     4,148,131         862,398         —           5,010,529   

Property, plant and equipment, net

     9,175,077         1,471,665         486,914         11,133,656   

Other assets

     —           —           7,829,216         7,829,216   
           

 

 

 
            $ 29,880,047   
           

 

 

 

 

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Table of Contents

CHICAGO RIVET & MACHINE CO.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

     Fastener      Assembly
Equipment
     Other      Consolidated  

Six Months Ended June 30, 2016:

           

Net sales

   $ 17,305,365       $ 2,111,760       $ —         $ 19,417,125   

Depreciation

     529,273         43,614         34,590         607,477   

Segment operating profit

     2,713,431         778,774         —           3,492,205   

Selling and administrative expenses

     —           —           (1,352,411      (1,352,411

Interest income

     —           —           18,322         18,322   
           

 

 

 

Income before income taxes

            $ 2,158,116   
           

 

 

 

Capital expenditures

     708,022         188,548         42,126         938,696   

Six Months Ended June 30, 2015:

           

Net sales

   $ 16,676,760       $ 1,813,205       $ —         $ 18,489,965   

Depreciation

     549,364         40,194         37,917         627,475   

Segment operating profit

     2,147,400         537,591         —           2,684,991   

Selling and administrative expenses

     —           —           (1,170,607      (1,170,607

Interest income

     —           —           13,050         13,050   
           

 

 

 

Income before income taxes

            $ 1,527,434   
           

 

 

 

Capital expenditures

     459,543         399,142         28,170         886,855   

 

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CHICAGO RIVET & MACHINE CO.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Results of Operations

Revenues for the second quarter of 2016 were $9,820,730, an increase of $614,556, or 6.7%, compared to the second quarter of 2015, and an increase of $224,335, or 2.3%, compared to the first quarter of 2016. Net income for the second quarter of 2016 was $795,059, or $0.82 per share, compared to $570,961, or $0.59 per share, in the second quarter of 2015 and $647,057, or $0.67 per share, in the first quarter of 2016. For the first half of 2016, net sales totaled $19,417,125 compared to $18,489,965 in the first half of 2015, an increase of $927,160, or 5.0%. Net income for the first half of 2016 was $1,442,116, or $1.49 per share, compared to $1,033,434, or $1.07 per share, reported in the first half of 2015, an increase of 39.5%. The increase in net income during the second quarter and year to date is primarily attributable to higher sales in both operating segments, a more profitable sales mix and favorable raw material prices compared to the year earlier periods.

Fastener segment revenues were $8,858,036 in the second quarter of 2016, an increase of $581,773, or 7.0%, compared to $8,276,263 reported in the second quarter of 2015 and a 4.9% increase over the first quarter of 2016. For the first six months of 2016, fastener segment revenues were $17,305,365, compared to $16,676,760 in the first half of 2015, an increase of $628,605, or 3.8%. The increase in sales exceeded the percentage increase in U.S. vehicle sales in the first half of 2016. The automotive sector is the primary market for our fastener segment products. Other than the increase in sales during the current year, favorable raw material prices was the most significant factor resulting in improved margins compared to the year earlier periods. The net impact of these factors was to increase fastener segment gross margin by $402,550 in the second quarter of 2016 compared to the second quarter of 2015 and to increase gross margin by $647,056 in the first half of 2016 compared to the first half of 2015.

Assembly equipment segment revenues were $962,694 in the second quarter of 2016, an increase of $32,783, or 3.5%, compared to the second quarter of 2015, when revenues were $929,911. For the first half of the year, assembly equipment sales were $2,111,760, an increase of $298,555, or 16.5%, from $1,813,205 reported for the first half of 2015. The increase in sales during the second quarter and first six months of the year was primarily due to an increase in the number of machines shipped. However, tools and parts sales have declined during the current year, contributing to lower gross margin of $41,150 in the second quarter of 2016 compared to the second quarter of 2015. Gross margins for the first half of 2016 exceed the first six months of 2015 by $49,096, primarily due to the strength of machine sales in the current year.

Selling and administrative expenses for the second quarter of 2016 were $1,449,902, an increase of $41,048, or 2.9%, compared with the year earlier quarter total of $1,408,854. An increase in profit sharing expense, due to improved operating results, accounts for $33,000 of the change, with the remainder of the net increase related to smaller individual items. For the first six months of the year, selling and administrative expenses have increased $73,942, or 2.6%, to $2,908,621 from $2,834,679 in 2015. Profit sharing expense has increased $73,000 in the current year compared to the first half of 2015, due to the improvement in operating profit. Selling and administrative expenses as a percentage of net sales for the first half of 2016 are relatively unchanged from a year earlier at 15.3%.

Other Income

Other income in the second quarter of 2016 was $16,051, compared to $10,305 in the second quarter of 2015. Other income for the first half of 2016 was $29,210, compared to $20,738 in the first six months of 2015. Other income consists primarily of interest income on certificates of deposit.

Income Tax Expense

The Company’s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively. Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199.

 

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Table of Contents

Liquidity and Capital Resources

Working capital at June 30, 2016 amounted to $16.2 million, an increase of approximately $.5 million from the beginning of the year. The largest component of the net change in the first quarter was accounts receivable, which increased by $0.8 million due to greater sales activity during the quarter compared to the seasonally lower fourth quarter of 2015. Offsetting this change was an increase of $0.5 million in accounts payable, which relates to the greater level of activity in the quarter, and a reduction in prepaid income taxes of $0.3 million since the beginning of the year. Capital expenditures for the first half of 2016 were $.9 million, which primarily consisted of equipment used in production activities. Dividends paid in the first two quarters were $.6 million, including two regular quarterly payments of $.18 per share and an extra dividend of $.25 per share paid in the first quarter. The net result of these changes and other cash flow items on cash, cash equivalents and certificates of deposit was a $.1 million increase in such total balances from the beginning of the year, to $7.5 million. Management believes that current cash, cash equivalents and operating cash flow will provide adequate working capital for the next twelve months.

Results of Operations Summary

We are pleased to report improvement in both sales and net income in the second quarter and first half of 2016. The automotive sector, upon which we rely for the majority of our fastener segment sales, remains healthy, but the pace of growth in that market in first half of 2016 was less than in recent years and may have plateaued. Additionally, the benefits derived from lower material prices can reverse quickly and would be difficult to mitigate. Our assembly equipment segment has benefited from strong demand for machines in recent quarters, however, that demand has abated somewhat in recent months. During 2016 we have invested approximately $0.9 million in equipment and facilities improvements which we feel will help us remain competitive and allow us to pursue opportunities to profitably grow our revenues and improve our bottom line. We will continue to make adjustments to our activities we feel are necessary based on conditions in our markets, while maintaining an emphasis on quality and reliability of service our customers demand.

Forward-Looking Statements

This discussion contains certain “forward-looking statements” which are inherently subject to risks and uncertainties that may cause actual events to differ materially from those discussed herein. Factors which may cause such differences in events include, those disclosed under “Risk Factors” in our Annual Report on Form 10-K and in the other filings we make with the United States Securities and Exchange Commission. These factors, include among other things: conditions in the domestic automotive industry, upon which we rely for sales revenue, the intense competition in our markets, the concentration of our sales to two major customers, the price and availability of raw materials, labor relations issues, losses related to product liability, warranty and recall claims, costs relating to environmental laws and regulations, the loss of the services of our key employees and difficulties in achieving expected cost savings. Many of these factors are beyond our ability to control or predict. Readers are cautioned not to place undue reliance on these forward-looking statements. We undertake no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

12


Table of Contents

CHICAGO RIVET & MACHINE CO.

Item 4. Controls and Procedures.

(a) Disclosure Controls and Procedures. The Company’s management, with the participation of the Company’s Chief Executive Officer and President, Chief Operating Officer and Treasurer (the Company’s principal financial officer), has evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of the end of the period covered by this report. Based on such evaluation, the Company’s Chief Executive Officer and President, Chief Operating Officer and Treasurer have concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a timely basis, information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act.

(b) Internal Control Over Financial Reporting. There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

13


Table of Contents

PART II—OTHER INFORMATION

Item 6. Exhibits

 

  31    Rule 13a-14(a) or 15d-14(a) Certifications
  31.1    Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  31.2    Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
  32    Section 1350 Certifications
  32.1    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  32.2    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101    Interactive Data File. Includes the following financial and related information from Chicago Rivet & Machine Co.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 formatted in Extensible Business Reporting Language (XBRL): (1) Condensed Consolidated Balance Sheets, (2) Condensed Consolidated Statements of Income, (3) Condensed Consolidated Statements of Retained Earnings, (4) Condensed Consolidated Statements of Cash Flows, and (5) Notes to Condensed Consolidated Financial Statements.

 

14


Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

   

CHICAGO RIVET & MACHINE CO.

                      (Registrant)

Date: August 5, 2016      
    /s/   John A. Morrissey
    John A. Morrissey
   

Chairman of the Board of Directors and Chief Executive Officer
(Principal Executive Officer)

Date: August 5, 2016      
    /s/   Michael J. Bourg
    Michael J. Bourg
   

President, Chief Operating Officer and Treasurer
(Principal Financial Officer)

 

15


Table of Contents

CHICAGO RIVET & MACHINE CO.

EXHIBITS

INDEX TO EXHIBITS

 

Exhibit
Number
       

Page

 
  31    Rule 13a-14(a) or 15d-14(a) Certifications   
  31.1    Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002      17   
  31.2    Certification Pursuant to Rule 13a-14(a) or 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002      18   
  32    Section 1350 Certifications   
  32.1    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002      19   
  32.2    Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002      20   
101    Interactive Data File. Includes the following financial and related information from Chicago Rivet & Machine Co.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 formatted in Extensible Business Reporting Language (XBRL): (1) Condensed Consolidated Balance Sheets, (2) Condensed Consolidated Statements of Operations, (3) Condensed Consolidated Statements of Retained Earnings, (4) Condensed Consolidated Statements of Cash Flows, and (5) Notes to Condensed Consolidated Financial Statements.   

 

16

EX-31.1 2 d236743dex311.htm EX-31.1 EX-31.1

EXHIBIT 31.1

I, John A. Morrissey, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Chicago Rivet & Machine Co.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

  a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

  a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

  b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 5, 2016     /s/ John A. Morrissey
    John A. Morrissey
   

Chief Executive Officer

(Principal Executive Officer)

 

17

EX-31.2 3 d236743dex312.htm EX-31.2 EX-31.2

EXHIBIT 31.2

I, Michael J. Bourg, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Chicago Rivet & Machine Co.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

  a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

  a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

  b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 5, 2016     /s/ Michael J. Bourg
    Michael J. Bourg
    President, Chief Operating Officer and Treasurer (Principal Financial Officer)

 

18

EX-32.1 4 d236743dex321.htm EX-32.1 EX-32.1

EXHIBIT 32.1

Certification Pursuant to 18 U.S.C. Section 1350,

as Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q of Chicago Rivet & Machine Co. (the “Company”) for the quarterly period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John A. Morrissey, as Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ John A. Morrissey
Name:   John A. Morrissey
Title:  

Chief Executive Officer

  (Principal Executive Officer)

Date:   August 5, 2016

 

19

EX-32.2 5 d236743dex322.htm EX-32.2 EX-32.2

EXHIBIT 32.2

Certification Pursuant to 18 U.S.C. Section 1350,

as Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q of Chicago Rivet & Machine Co. (the “Company”) for the quarterly period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael J. Bourg, as President, Chief Operating Officer and Treasurer of the Company, hereby certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Michael J. Bourg
Name:   Michael J. Bourg
Title:  

President, Chief Operating Officer and

  Treasurer (Principal Financial Officer)

Date:   August 5, 2016

 

20

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Please refer to the financial statements and notes thereto included in the Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2015.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from those estimates.&#160; The results of operations for the three and six-month period ending June 30, 2016 are not necessarily indicative of the results to be expected for the year.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>2.&#160; The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.&#160; The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>3.&#160; The Company is, from time to time, involved in litigation, including environmental claims and contract disputes, in the normal course of business.&#160; While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company's financial position.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>4.&#160; The Company&#146;s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively.&#160; Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199. </p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-17 &#147;Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes&#148; (&#147;ASU 2015-17&#148;) to simplify the presentation of deferred income taxes.&#160; Under this update, all deferred income tax assets and liabilities, along with any related valuation allowance, are required to be classified as noncurrent on the balance sheet.&#160; Effective January 1, 2016, the Company early adopted ASU No. 2015-17 and retrospectively reclassified $425,191 of current deferred income tax assets to long-term deferred income tax liability on the December 31, 2015 consolidated balance sheet.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The Company&#146;s federal income tax returns for the 2012 through 2015 tax years are subject to examination by the Internal Revenue Service (&#147;IRS&#148;).&#160;&#160; While it may be possible that a reduction could occur with respect to the Company&#146;s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.&#160; No statutes have been extended on any of the Company&#146;s federal income tax filings.&#160; The statute of limitations on the Company&#146;s 2012 through 2015 federal income tax returns will expire on September 15, 2016 through 2019, respectively. </p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The Company&#146;s state income tax returns for the 2012 through 2015 tax years remain subject to examination by various state authorities with the latest closing period on October 31, 2019.&#160; The Company is not currently under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>5.&#160; Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.&#160; A summary of inventories is as follows:&#160; </p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:65.25pt;border-collapse:collapse'> <tr style='height:.25in'> <td width="168" valign="bottom" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>June 30, 2016</u></p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>December 31, 2015</u></p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Raw material</p> </td> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2,034,329</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,923,932</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Work-In-Process</p> </td> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,976,821</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,606,389</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Finished Goods</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,539,058</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,584,891</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory, Gross</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,550,208</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,115,212</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Valuation reserves</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;(559,000)</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;(577,000)</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory, Net</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,991,208</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,538,212</p> </td> </tr> </table> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>6.&#160; Segment Information&#151;The Company operates in two business segments as determined by its products.&#160; The fastener segment includes rivets, cold-formed fasteners and screw machine products.&#160; The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.&#160; Information by segment is as follows:</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="255" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Fastener</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Assembly Equipment</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Other</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Consolidated</u></p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Three Months Ended June 30, 2016:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,858,036</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;962,694</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,820,730</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>268,450</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>22,032</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>17,640</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>308,122</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,487,070</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>345,575</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,832,645</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(667,149)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(667,149)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,563</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,563</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,175,059</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>298,237</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,180</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>33,898</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>339,315</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Accounts receivable, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,979,118</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>299,504</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,278,622</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Inventories, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,976,986</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,014,322</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,991,208</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Property, plant and equipment, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,887,971</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,613,944</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>526,407</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,028,322</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Other assets</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,791,988</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,791,988</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;31,090,140</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Three Months Ended June 30, 2015:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,276,263</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;929,911</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;9,206,174</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>275,612</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,097</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>19,121</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>314,830</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,129,353</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>293,002</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,422,355</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(579,611)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(579,611)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income<font style='display:none'> </font></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,217</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,217</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;848,961</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>108,726</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>344,367</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,078</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>473,171</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Accounts receivable, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,546,859</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>359,787</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,906,646</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Inventories, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,148,131</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>862,398</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,010,529</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Property, plant and equipment, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,175,077</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,471,665</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>486,914</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,133,656</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Other assets</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,829,216</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,829,216</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;29,880,047</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Six Months Ended June 30, 2016:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;17,305,365</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,111,760</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;19,417,125</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>529,273</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>43,614</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34,590</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>607,477</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,713,431</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>778,774</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,492,205</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,352,411)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,352,411)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>18,322</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>18,322</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,158,116</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>459,543</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>399,142</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>28,170</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>886,855</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Six Months Ended June 30, 2015:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,676,760</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,813,205</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;18,489,965</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>549,364</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>40,194</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>37,917</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>627,475</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,147,400</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>537,591</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,684,991</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,170,607)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,170,607)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income<font style='display:none'> </font></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,050</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,050</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,527,434</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>459,543</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>399,142</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>28,170</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>886,855</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> </table> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>1.&#160; In the opinion of the Company, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the financial position of the Company as of June 30, 2016 (unaudited) and December 31, 2015 (audited) and the results of operations and changes in cash flows for the indicated periods.&#160; Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted from these unaudited financial statements in accordance with applicable rules. Please refer to the financial statements and notes thereto included in the Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2015.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from those estimates.&#160; The results of operations for the three and six-month period ending June 30, 2016 are not necessarily indicative of the results to be expected for the year.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>2.&#160; The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.&#160; The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>3.&#160; The Company is, from time to time, involved in litigation, including environmental claims and contract disputes, in the normal course of business.&#160; While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company's financial position.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>4.&#160; The Company&#146;s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively.&#160; Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-17 &#147;Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes&#148; (&#147;ASU 2015-17&#148;) to simplify the presentation of deferred income taxes.&#160; Under this update, all deferred income tax assets and liabilities, along with any related valuation allowance, are required to be classified as noncurrent on the balance sheet.&#160; Effective January 1, 2016, the Company early adopted ASU No. 2015-17 and retrospectively reclassified $425,191 of current deferred income tax assets to long-term deferred income tax liability on the December 31, 2015 consolidated balance sheet.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The Company&#146;s federal income tax returns for the 2012 through 2015 tax years are subject to examination by the Internal Revenue Service (&#147;IRS&#148;).&#160;&#160; While it may be possible that a reduction could occur with respect to the Company&#146;s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.&#160; No statutes have been extended on any of the Company&#146;s federal income tax filings.&#160; The statute of limitations on the Company&#146;s 2012 through 2015 federal income tax returns will expire on September 15, 2016 through 2019, respectively. </p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The Company&#146;s state income tax returns for the 2012 through 2015 tax years remain subject to examination by various state authorities with the latest closing period on October 31, 2019.&#160; The Company is not currently under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>5.&#160; Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>6.&#160; Segment Information&#151;The Company operates in two business segments as determined by its products.&#160; The fastener segment includes rivets, cold-formed fasteners and screw machine products.&#160; The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" style='margin-left:65.25pt;border-collapse:collapse'> <tr style='height:.25in'> <td width="168" valign="bottom" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>June 30, 2016</u></p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>December 31, 2015</u></p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Raw material</p> </td> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2,034,329</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,923,932</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Work-In-Process</p> </td> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,976,821</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,606,389</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Finished Goods</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,539,058</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,584,891</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory, Gross</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,550,208</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,115,212</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Valuation reserves</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;(559,000)</p> </td> <td width="24" valign="bottom" style='width:.25in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;(577,000)</p> </td> </tr> <tr style='height:12.6pt'> <td width="144" valign="bottom" style='width:1.5in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>Inventory, Net</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,991,208</p> </td> <td width="24" valign="bottom" style='width:.25in;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="144" valign="bottom" style='width:1.5in;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:12.6pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,538,212</p> </td> </tr> </table> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" style='border-collapse:collapse'> <tr align="left"> <td width="255" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Fastener</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Assembly Equipment</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Other</u></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="center" style='margin:0in;margin-bottom:.0001pt;text-align:center'><u>Consolidated</u></p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Three Months Ended June 30, 2016:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,858,036</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;962,694</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,820,730</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>268,450</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>22,032</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>17,640</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>308,122</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,487,070</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>345,575</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,832,645</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(667,149)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(667,149)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,563</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,563</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,175,059</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>298,237</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,180</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>33,898</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>339,315</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Accounts receivable, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,979,118</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>299,504</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,278,622</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Inventories, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,976,986</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,014,322</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,991,208</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Property, plant and equipment, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,887,971</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,613,944</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>526,407</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>12,028,322</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Other assets</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,791,988</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,791,988</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;31,090,140</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Three Months Ended June 30, 2015:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,276,263</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;929,911</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;9,206,174</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>275,612</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,097</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>19,121</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>314,830</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,129,353</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>293,002</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,422,355</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(579,611)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(579,611)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income<font style='display:none'> </font></p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,217</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>6,217</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;848,961</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>108,726</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>344,367</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>20,078</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>473,171</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment assets:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Accounts receivable, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,546,859</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>359,787</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,906,646</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Inventories, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>4,148,131</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>862,398</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>5,010,529</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Property, plant and equipment, net</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>9,175,077</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>1,471,665</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>486,914</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>11,133,656</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&#160;&#160; Other assets</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,829,216</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>7,829,216</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;29,880,047</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Six Months Ended June 30, 2016:</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;17,305,365</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,111,760</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160; &#160;&#160;&#160;&#160;&#160;&#160;19,417,125</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>529,273</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>43,614</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>34,590</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>607,477</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,713,431</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>778,774</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>3,492,205</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,352,411)</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,352,411)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>18,322</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>18,322</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,158,116</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>459,543</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>399,142</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>28,170</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>886,855</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Six Months Ended June 30, 2015:</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Net sales</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,676,760</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,813,205</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;18,489,965</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Depreciation</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>549,364</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>40,194</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>37,917</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>627,475</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Segment operating profit</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,147,400</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>537,591</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>2,684,991</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Selling and administrative expenses</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,170,607)</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>(1,170,607)</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Interest income<font style='display:none'> </font></p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>0</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,050</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>13,050</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Income before income taxes</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;border-bottom:solid windowtext 1.0pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>$&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,527,434</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;border:none;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>Capital expenditures</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>459,543</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>399,142</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>28,170</p> </td> <td width="101" valign="bottom" style='width:1.05in;background:#DBE5F1;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>886,855</p> </td> </tr> <tr align="left"> <td width="255" valign="bottom" style='width:190.95pt;padding:0in 5.4pt 0in 5.4pt'> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> <td width="101" valign="bottom" style='width:1.05in;padding:0in 5.4pt 0in 5.4pt'> <p align="right" style='margin:0in;margin-bottom:.0001pt;text-align:right'>&nbsp;</p> </td> </tr> </table> 2034329 1923932 1976821 1606389 1539058 1584891 5550208 5115212 -559000 -577000 4538212 8858036 962694 0 9820730 268450 22032 17640 308122 1487070 345575 0 1832645 0 0 -667149 -667149 0 0 9563 9563 298237 7180 33898 339315 5979118 299504 0 6278622 3976986 1014322 0 4991208 9887971 1613944 526407 12028322 0 0 7791988 7791988 8276263 929911 0 9206174 275612 20097 19121 314830 1129353 293002 0 1422355 0 0 -579611 -579611 0 0 6217 6217 108726 344367 20078 473171 5546859 359787 0 5906646 4148131 862398 0 5010529 9175077 1471665 486914 11133656 0 0 7829216 7829216 17305365 2111760 0 19417125 529273 43614 34590 607477 2713431 778774 0 3492205 0 0 -1352411 -1352411 0 0 18322 18322 459543 399142 28170 886855 16676760 1813205 0 18489965 549364 40194 37917 627475 2147400 537591 0 2684991 0 0 -1170607 -1170607 0 0 13050 13050 459543 399142 28170 886855 0000019871 2016-04-01 2016-06-30 0000019871 2016-06-30 0000019871 2016-01-01 2016-06-30 0000019871 2015-12-31 0000019871 2015-04-01 2015-06-30 0000019871 2015-01-01 2015-06-30 0000019871 2014-12-31 0000019871 2015-06-30 0000019871 fil:FastenerMember 2016-01-01 2016-06-30 0000019871 fil:AssemblyEquipmentMember 2016-01-01 2016-06-30 0000019871 fil:UnallocatedCorporateMember 2016-01-01 2016-06-30 0000019871 fil:FastenerMember 2016-04-01 2016-06-30 0000019871 fil:AssemblyEquipmentMember 2016-04-01 2016-06-30 0000019871 fil:UnallocatedCorporateMember 2016-04-01 2016-06-30 0000019871 fil:FastenerMember 2016-06-30 0000019871 fil:AssemblyEquipmentMember 2016-06-30 0000019871 fil:UnallocatedCorporateMember 2016-06-30 0000019871 fil:FastenerMember 2015-04-01 2015-06-30 0000019871 fil:AssemblyEquipmentMember 2015-04-01 2015-06-30 0000019871 fil:UnallocatedCorporateMember 2015-04-01 2015-06-30 0000019871 fil:FastenerMember 2015-06-30 0000019871 fil:AssemblyEquipmentMember 2015-06-30 0000019871 fil:UnallocatedCorporateMember 2015-06-30 0000019871 fil:FastenerMember 2015-01-01 2015-06-30 0000019871 fil:AssemblyEquipmentMember 2015-01-01 2015-06-30 0000019871 fil:UnallocatedCorporateMember 2015-01-01 2015-06-30 iso4217:USD shares iso4217:USD shares Net of allowance of $150,000. No par value, 500,000 shares authorized, none outstanding. $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued, 966,132 shares outstanding. At cost, 171,964 shares. EX-101.SCH 7 cvr-20160630.xsd XBRL TAXONOMY EXTENSION SCHEMA 000040 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 000130 - Disclosure - Schedule of Inventory, Current (Tables) link:presentationLink link:definitionLink link:calculationLink 000080 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 000120 - Disclosure - Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 000140 - Disclosure - Schedule of Segment Reporting Information, by Segment (Tables) link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Condensed Consolidated Balance Sheets (Unaudited) link:presentationLink link:definitionLink link:calculationLink 000100 - Disclosure - Inventory link:presentationLink link:definitionLink link:calculationLink 000110 - Disclosure - Segment Reporting link:presentationLink link:definitionLink link:calculationLink 000050 - Statement - Condensed Consolidated Statements of Retained Earnings (Unaudited) link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - Condensed Consolidated Statements of Income (Unaudited) link:presentationLink link:definitionLink link:calculationLink 000010 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 000160 - Disclosure - Schedule of Segment Reporting Information, by Segment (Details) link:presentationLink link:definitionLink link:calculationLink 000150 - Disclosure - Schedule of Inventory, Current (Details) link:presentationLink link:definitionLink link:calculationLink 000060 - Disclosure - Accounting Policies link:presentationLink link:definitionLink link:calculationLink 000070 - Disclosure - Risks and Uncertainties link:presentationLink link:definitionLink link:calculationLink 000090 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 cvr-20160630_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 cvr-20160630_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 cvr-20160630_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Other assets Unallocated Corporate Schedule of Inventory, Current Inventory {1} Inventory Net cash used in financing activities Net cash used in financing activities Cash flows from financing activities: Cash flows from investing activities: Net cash provided by operating activities Net cash provided by operating activities Depreciation Total shareholders' equity Total shareholders' equity Common stock Accounts payable Assets {1} Assets Entity Voluntary Filers Condensed Consolidated Statements of Retained Earnings Purchases of certificates of deposit Purchases of certificates of deposit Loss from disposal of equipment Loss from disposal of equipment Cost of goods sold Net sales Net sales Liabilities and Shareholders' Equity Net property, plant and equipment Property, plant and equipment, net Total current assets Total current assets Accounting Policies {1} Accounting Policies Proceeds from the sale of equipment Average common shares outstanding Per share data, basic and diluted: Selling and administrative expenses Condensed Consolidated Statements of Income Property, Plant and Equipment: Inventories, net Current Assets: Condensed Consolidated Balance Sheets Selling and administrative expenses {1} Selling and administrative expenses The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Statement [Line Items] Accounting Policies Additional paid-in capital Total liabilities Entity Registrant Name Segment operating profit The net result for the period of deducting segment operating expenses from segment operating revenues. Statement [Table] Inventory Deferred income taxes {1} Deferred income taxes Gross profit Gross profit Retained earnings Retained earnings at beginning of period Retained earnings at end of period Total current liabilities Total current liabilities Production equipment and other Current Fiscal Year End Date Segment Reporting {1} Segment Reporting Net increase in cash and cash equivalents Net increase in cash and cash equivalents Net cash used in investing activities Net cash used in investing activities Accrued wages and salaries {1} Accrued wages and salaries Cash flows from operating activities: Accrued wages and salaries Land Entity Current Reporting Status Policies Capital expenditures in accounts payable Proceeds from certificates of deposit Unearned revenue and customer deposits {1} Unearned revenue and customer deposits Condensed Consolidated Statements of Cash Flows Net income per share Deferred income taxes Property, Plant and Equipment Gross Assembly Equipment Tables/Schedules Cash dividends declared per share Unearned revenue and customer deposits Buildings and improvements Prepaid income taxes Capital expenditures {1} Capital expenditures Risks and Uncertainties {1} Risks and Uncertainties Operating profit Operating profit Entity Central Index Key Document Period End Date Document Type Segments Inventory Valuation Reserves Risks and Uncertainties Inventories Provision for income taxes Commitments and contingencies (Note 3) Other accrued expenses Land improvements Accounts receivable, net Amendment Flag Income Taxes {1} Income Taxes Other current assets {1} Other current assets Total liabilities and shareholders' equity Total liabilities and shareholders' equity Less: Treasury stock Certificates of deposit Entity Filer Category Interest income Segment Reporting Commitments and Contingencies {1} Commitments and Contingencies Notes Cash dividends paid, $.61 per share in 2016 and 2015 Capital expenditures Capital expenditures Changes in operating assets and liabilities: Shareholders' Equity: Document Fiscal Year Focus Entity Common Stock, Shares Outstanding Segments [Axis] Inventory, Gross Inventory, Raw Materials, Gross Accounts payable {1} Accounts payable Accounts receivable Cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Entity Well-known Seasoned Issuer Document and Entity Information: Inventory, Finished Goods, Gross Inventory, Work in Process, Gross Schedule of Segment Reporting Information, by Segment Total assets Total assets Details Commitments and Contingencies {2} Commitments and Contingencies Supplemental schedule of non-cash investing activities: Cash dividends paid Cash dividends paid Other income Current Liabilities: Less accumulated depreciation Trading Symbol Fastener Entity Public Float Income Taxes Other accrued expenses {1} Other accrued expenses Adjustments to reconcile net income to net cash provided by operating activities: Net income Net income Income before provision for income taxes Income before provision for income taxes Preferred stock Other current assets Document Fiscal Period Focus EX-101.PRE 11 cvr-20160630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information
6 Months Ended
Jun. 30, 2016
USD ($)
shares
Document and Entity Information:  
Entity Registrant Name CHICAGO RIVET & MACHINE CO.
Document Type 10-Q
Document Period End Date Jun. 30, 2016
Trading Symbol cvr
Amendment Flag false
Entity Central Index Key 0000019871
Current Fiscal Year End Date --12-31
Entity Common Stock, Shares Outstanding | shares 966,132
Entity Public Float | $ $ 21,211,146
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2016
Document Fiscal Period Focus Q2
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 907,384 $ 800,894
Certificates of deposit 6,565,000 6,565,000
Accounts receivable, net [1] 6,278,622 5,438,332
Inventories, net 4,991,208 4,538,212
Prepaid income taxes   273,112
Other current assets 319,604 383,953
Total current assets 19,061,818 17,999,503
Property, Plant and Equipment:    
Land 923,587 923,587
Land improvements 501,102 358,395
Buildings and improvements 7,478,507 7,271,006
Production equipment and other 33,613,257 33,295,529
Property, Plant and Equipment Gross 42,516,453 41,848,517
Less accumulated depreciation 30,488,131 30,150,074
Net property, plant and equipment 12,028,322 11,698,443
Total assets 31,090,140 29,697,946
Current Liabilities:    
Accounts payable 1,240,204 768,111
Accrued wages and salaries 892,712 611,484
Other accrued expenses 470,217 465,662
Unearned revenue and customer deposits 263,732 467,189
Total current liabilities 2,866,865 2,312,446
Deferred income taxes 879,084 894,084
Total liabilities 3,745,949 3,206,530
Shareholders' Equity:    
Preferred stock [2] 0 0
Common stock [3] 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 29,681,059 28,828,284
Less: Treasury stock [4] 3,922,098 3,922,098
Total shareholders' equity 27,344,191 26,491,416
Total liabilities and shareholders' equity $ 31,090,140 $ 29,697,946
[1] Net of allowance of $150,000.
[2] No par value, 500,000 shares authorized, none outstanding.
[3] $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued, 966,132 shares outstanding.
[4] At cost, 171,964 shares.
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Condensed Consolidated Statements of Income        
Net sales $ 9,820,730 $ 9,206,174 $ 19,417,125 $ 18,489,965
Cost of goods sold 7,211,820 6,958,664 14,379,598 14,148,590
Gross profit 2,608,910 2,247,510 5,037,527 4,341,375
Selling and administrative expenses 1,449,902 1,408,854 2,908,621 2,834,679
Operating profit 1,159,008 838,656 2,128,906 1,506,696
Other income 16,051 10,305 29,210 20,738
Income before provision for income taxes 1,175,059 848,961 2,158,116 1,527,434
Provision for income taxes 380,000 278,000 716,000 494,000
Net income $ 795,059 $ 570,961 $ 1,442,116 $ 1,033,434
Per share data, basic and diluted:        
Net income per share $ 0.82 $ 0.59 $ 1.49 $ 1.07
Average common shares outstanding 966,132 966,132 966,132 966,132
Cash dividends declared per share $ 0.18 $ 0.18 $ 0.61 $ 0.61
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 1,442,116 $ 1,033,434
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 607,477 627,475
Loss from disposal of equipment 318 3,719
Deferred income taxes (15,000) (38,000)
Changes in operating assets and liabilities:    
Accounts receivable (840,290) (236,992)
Inventories (452,996) 151,945
Other current assets 337,461 63,541
Accounts payable 469,508 230,949
Accrued wages and salaries 281,228 284,720
Other accrued expenses 4,555 (134,562)
Unearned revenue and customer deposits (203,457) 104,962
Net cash provided by operating activities 1,630,920 2,091,191
Cash flows from investing activities:    
Capital expenditures (936,111) (868,605)
Proceeds from the sale of equipment 1,022 0
Proceeds from certificates of deposit 2,988,000 4,813,000
Purchases of certificates of deposit (2,988,000) (4,075,000)
Net cash used in investing activities (935,089) (130,605)
Cash flows from financing activities:    
Cash dividends paid (589,341) (589,341)
Net cash used in financing activities (589,341) (589,341)
Net increase in cash and cash equivalents 106,490 1,371,245
Cash and cash equivalents at beginning of period 800,894 231,252
Cash and cash equivalents at end of period 907,384 1,602,497
Supplemental schedule of non-cash investing activities:    
Capital expenditures in accounts payable $ 2,585 $ 18,250
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Condensed Consolidated Statements of Retained Earnings (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Condensed Consolidated Statements of Retained Earnings    
Retained earnings at beginning of period $ 28,828,284 $ 28,077,791
Net income 1,442,116 1,033,434
Cash dividends paid, $.61 per share in 2016 and 2015 (589,341) (589,341)
Retained earnings at end of period $ 29,681,059 $ 28,521,884
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounting Policies
6 Months Ended
Jun. 30, 2016
Notes  
Accounting Policies

1.  In the opinion of the Company, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the financial position of the Company as of June 30, 2016 (unaudited) and December 31, 2015 (audited) and the results of operations and changes in cash flows for the indicated periods.  Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted from these unaudited financial statements in accordance with applicable rules. Please refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.  The results of operations for the three and six-month period ending June 30, 2016 are not necessarily indicative of the results to be expected for the year.

XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Risks and Uncertainties
6 Months Ended
Jun. 30, 2016
Notes  
Risks and Uncertainties

2.  The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.  The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.

XML 19 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Commitments and Contingencies
6 Months Ended
Jun. 30, 2016
Notes  
Commitments and Contingencies

3.  The Company is, from time to time, involved in litigation, including environmental claims and contract disputes, in the normal course of business.  While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company's financial position.

XML 20 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Income Taxes
6 Months Ended
Jun. 30, 2016
Notes  
Income Taxes

4.  The Company’s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively.  Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199.

 

In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”) to simplify the presentation of deferred income taxes.  Under this update, all deferred income tax assets and liabilities, along with any related valuation allowance, are required to be classified as noncurrent on the balance sheet.  Effective January 1, 2016, the Company early adopted ASU No. 2015-17 and retrospectively reclassified $425,191 of current deferred income tax assets to long-term deferred income tax liability on the December 31, 2015 consolidated balance sheet.

 

The Company’s federal income tax returns for the 2012 through 2015 tax years are subject to examination by the Internal Revenue Service (“IRS”).   While it may be possible that a reduction could occur with respect to the Company’s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.  No statutes have been extended on any of the Company’s federal income tax filings.  The statute of limitations on the Company’s 2012 through 2015 federal income tax returns will expire on September 15, 2016 through 2019, respectively.

 

The Company’s state income tax returns for the 2012 through 2015 tax years remain subject to examination by various state authorities with the latest closing period on October 31, 2019.  The Company is not currently under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
Inventory
6 Months Ended
Jun. 30, 2016
Notes  
Inventory

5.  Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.  A summary of inventories is as follows: 

 

 

June 30, 2016

 

December 31, 2015

Raw material

$              2,034,329

 

$                1,923,932

Work-In-Process

                1,976,821

 

                  1,606,389

Finished Goods

                1,539,058

 

                  1,584,891

Inventory, Gross

                5,550,208

 

                  5,115,212

Valuation reserves

                 (559,000)

 

                   (577,000)

Inventory, Net

$              4,991,208

 

 $               4,538,212

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Segment Reporting
6 Months Ended
Jun. 30, 2016
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, 2016:

 

 

 

 

Net sales

$           8,858,036

$             962,694

0

$          9,820,730

 

 

 

 

 

Depreciation

268,450

22,032

17,640

308,122

 

 

 

 

 

Segment operating profit

1,487,070

345,575

0

1,832,645

Selling and administrative expenses

0

0

(667,149)

(667,149)

Interest income

0

0

9,563

9,563

Income before income taxes

 

 

 

$           1,175,059

 

 

 

 

 

Capital expenditures

298,237

7,180

33,898

339,315

 

 

 

 

 

Segment assets:

 

 

 

 

   Accounts receivable, net

5,979,118

299,504

0

6,278,622

   Inventories, net

3,976,986

1,014,322

0

4,991,208

   Property, plant and equipment, net

9,887,971

1,613,944

526,407

12,028,322

   Other assets

0

0

7,791,988

7,791,988

 

 

 

 

$         31,090,140

 

 

 

 

 

Three Months Ended June 30, 2015:

 

 

 

 

Net sales

$          8,276,263

$             929,911

0

$           9,206,174

 

 

 

 

 

Depreciation

275,612

20,097

19,121

314,830

 

 

 

 

 

Segment operating profit

1,129,353

293,002

0

1,422,355

Selling and administrative expenses

0

0

(579,611)

(579,611)

Interest income

0

0

6,217

6,217

Income before income taxes

 

 

 

$              848,961

 

 

 

 

 

Capital expenditures

108,726

344,367

20,078

473,171

 

 

 

 

 

Segment assets:

 

 

 

 

   Accounts receivable, net

5,546,859

359,787

0

5,906,646

   Inventories, net

4,148,131

862,398

0

5,010,529

   Property, plant and equipment, net

9,175,077

1,471,665

486,914

11,133,656

   Other assets

0

0

7,829,216

7,829,216

 

 

 

 

$         29,880,047

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2016:

 

 

 

 

Net sales

$        17,305,365

$          2,111,760

0

$        19,417,125

 

 

 

 

 

Depreciation

529,273

43,614

34,590

607,477

 

 

 

 

 

Segment operating profit

2,713,431

778,774

0

3,492,205

Selling and administrative expenses

0

0

(1,352,411)

(1,352,411)

Interest income

0

0

18,322

18,322

Income before income taxes

 

 

 

$           2,158,116

 

 

 

 

 

Capital expenditures

459,543

399,142

28,170

886,855

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2015:

 

 

 

 

Net sales

$         16,676,760

$          1,813,205

0

$         18,489,965

 

 

 

 

 

Depreciation

549,364

40,194

37,917

627,475

 

 

 

 

 

Segment operating profit

2,147,400

537,591

0

2,684,991

Selling and administrative expenses

0

0

(1,170,607)

(1,170,607)

Interest income

0

0

13,050

13,050

Income before income taxes

 

 

 

$           1,527,434

 

 

 

 

 

Capital expenditures

459,543

399,142

28,170

886,855

 

 

 

 

 

XML 23 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2016
Policies  
Accounting Policies

1.  In the opinion of the Company, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the financial position of the Company as of June 30, 2016 (unaudited) and December 31, 2015 (audited) and the results of operations and changes in cash flows for the indicated periods.  Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted from these unaudited financial statements in accordance with applicable rules. Please refer to the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.  The results of operations for the three and six-month period ending June 30, 2016 are not necessarily indicative of the results to be expected for the year.

Risks and Uncertainties

2.  The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry.  The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States.

Commitments and Contingencies

3.  The Company is, from time to time, involved in litigation, including environmental claims and contract disputes, in the normal course of business.  While it is not possible at this time to establish the ultimate amount of liability with respect to contingent liabilities, including those related to legal proceedings, management is of the opinion that the aggregate amount of any such liabilities, for which provision has not been made, will not have a material adverse effect on the Company's financial position.

Income Taxes

4.  The Company’s effective tax rates were approximately 32.3% and 32.7% for the second quarter of 2016 and 2015, respectively, and 33.2% and 32.3% for the six months ended June 30, 2016 and 2015, respectively.  Rates were lower than the U.S. federal statutory rate primarily due to the Domestic Production Activities Deduction allowed under Internal Revenue Code Section 199.

 

In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes” (“ASU 2015-17”) to simplify the presentation of deferred income taxes.  Under this update, all deferred income tax assets and liabilities, along with any related valuation allowance, are required to be classified as noncurrent on the balance sheet.  Effective January 1, 2016, the Company early adopted ASU No. 2015-17 and retrospectively reclassified $425,191 of current deferred income tax assets to long-term deferred income tax liability on the December 31, 2015 consolidated balance sheet.

 

The Company’s federal income tax returns for the 2012 through 2015 tax years are subject to examination by the Internal Revenue Service (“IRS”).   While it may be possible that a reduction could occur with respect to the Company’s unrecognized tax benefits as an outcome of an IRS examination, management does not anticipate any adjustments that would result in a material change to the results of operations or financial condition of the Company.  No statutes have been extended on any of the Company’s federal income tax filings.  The statute of limitations on the Company’s 2012 through 2015 federal income tax returns will expire on September 15, 2016 through 2019, respectively.

 

The Company’s state income tax returns for the 2012 through 2015 tax years remain subject to examination by various state authorities with the latest closing period on October 31, 2019.  The Company is not currently under examination by any state authority for income tax purposes and no statutes for state income tax filings have been extended.

Inventory

5.  Inventories are stated at the lower of cost or net realizable value, cost being determined by the first-in, first-out method.

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.

XML 24 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
Schedule of Inventory, Current (Tables)
6 Months Ended
Jun. 30, 2016
Tables/Schedules  
Schedule of Inventory, Current

 

 

June 30, 2016

 

December 31, 2015

Raw material

$              2,034,329

 

$                1,923,932

Work-In-Process

                1,976,821

 

                  1,606,389

Finished Goods

                1,539,058

 

                  1,584,891

Inventory, Gross

                5,550,208

 

                  5,115,212

Valuation reserves

                 (559,000)