Segment Reporting

6 Months Ended

Jun. 30, 2017

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, 2017:
Net sales	$           8,097,344	$          1,338,164	0	$          9,435,508
Depreciation	276,610	24,390	8,970	309,970
Segment operating profit	756,226	525,867	0	1,282,093
Selling and administrative expenses	0	0	(626,772)	(626,772)
Interest income	0	0	16,034	16,034
Income before income taxes				$           671,355
Capital expenditures	510,981	110,863	0	621,844
Segment assets:
Accounts receivable, net	5,588,046	364,797	0	5,952,843
Inventories, net	3,990,878	1,004,965	0	4,995,843
Property, plant and equipment, net	10,422,170	1,629,310	585,069	12,636,549
Other assets	0	0	8,179,902	8,179,902
				$         31,765,137
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	1,014,222	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
Six Months Ended June 30, 2017:
Net sales	$        16,833,532	$          2,085,303	0	$        18,918,835
Depreciation	546,447	48,780	17,940	613,167
Segment operating profit	1,947,773	771,487	0	2,719,260
Selling and administrative expenses	0	0	(1,307,700)	(1,307,700)
Interest income	0	0	30,717	30,717
Income before income taxes				$           1,442,277
Capital expenditures	685,770	113,388	0	799,158
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	708,022	188,548	42,126	938,696