Segment Reporting

9 Months Ended

Sep. 30, 2016

Notes

Segment Reporting

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

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended September 30, 2016:
Net sales	$           8,089,800	$             764,474	0	$          8,854,274
Depreciation	272,212	22,063	17,640	311,915
Segment operating profit	1,031,736	233,758	0	1,265,494
Selling and administrative expenses	0	0	(596,358)	(596,358)
Interest income	0	0	10,193	10,193
Income before income taxes				$           679,329
Capital expenditures	842,048	2,142	0	844,190
Segment assets:
Accounts receivable, net	5,611,689	284,597	0	5,896,286
Inventories, net	3,766,136	1,038,158	0	4,804,294
Property, plant and equipment, net	10,457,807	1,594,023	508,767	12,560,597
Other assets	0	0	8,183,787	8,183,787
				$         31,444,964
Three Months Ended September 30, 2015:
Net sales	$          8,153,422	$             864,850	0	$           9,018,272
Depreciation	276,252	20,097	19,771	316,120
Segment operating profit	893,862	237,849	0	1,131,711
Selling and administrative expenses	0	0	(509,169)	(509,169)
Interest income	0	0	5,929	5,929
Income before income taxes				$              628,471
Capital expenditures	360,898	49,119	45,245	455,262
Segment assets:
Accounts receivable, net	5,536,738	365,400	0	5,902,138
Inventories, net	3,959,195	904,857	0	4,864,052
Property, plant and equipment, net	9,259,723	1,482,052	512,388	11,254,163
Other assets	0	0	8,351,574	8,351,574
				$         30,371,927
Nine Months Ended September 30, 2016:
Net sales	$        25,395,165	$          2,876,234	0	$        28,271,399
Depreciation	801,485	65,677	52,230	919,392
Segment operating profit	3,745,167	1,012,532	0	4,757,699
Selling and administrative expenses	0	0	(1,948,769)	(1,948,769)
Interest income	0	0	28,515	28,515
Income before income taxes				$           2,837,445
Capital expenditures	1,550,070	190,690	42,126	1,782,886
Nine Months Ended September 30, 2015:
Net sales	$         24,830,182	$          2,678,055	0	$         27,508,237
Depreciation	825,616	60,291	57,688	943,595
Segment operating profit	3,041,262	775,440	0	3,816,702
Selling and administrative expenses	0	0	(1,679,776)	(1,679,776)
Interest income	0	0	18,979	18,979
Income before income taxes				$           2,155,905
Capital expenditures	820,441	448,261	73,415	1,342,117