XML 20 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED BALANCE SHEETS (USD $)
Mar. 31, 2013
Jun. 30, 2012
ASSETS    
Cash and cash equivalents $ 394,304 $ 328,313
Accounts receivable 1,036,199 1,244,462
Inventories 1,169,983 781,037
Contract costs and related estimated profits in excess of billings 908,149 927,078
Prepaid expenses and other current assets 77,718 69,502
TOTAL CURRENT ASSETS 3,586,353 3,350,392
PLANT, PROPERTY AND EQUIPMENT:    
Land and improvements 651,015 651,015
Building and improvements 1,948,165 1,948,165
Machinery and equipment 3,260,039 3,248,760
Furniture and fixtures 263,030 263,030
Property, Plant And Equipment, gross 6,122,249 6,110,970
Less accumulated depreciation 5,238,038 5,191,705
Property, Plant And Equipment, net 884,211 919,265
DEFERRED COSTS 65,095 65,095
TOTAL ASSETS 4,535,659 4,334,752
LIABILITIES AND STOCKHOLDERS' EQUITY:    
Notes payable - Current portion 364,822 289,822
Trade accounts payable 87,571 407,994
Accrued expenses and other liabilities 167,415 216,491
Accrued compensation and benefits payable 233,723 220,575
Accrued pension costs 128,357 65,792
TOTAL CURRENT LIABILITIES 981,888 1,200,674
LONG-TERM PORTION OF NOTE PAYABLE 6,102 17,292
LONG-TERM PENSION LIABILITY 915,282 1,013,706
TOTAL LIABILITIES 1,903,272 2,231,672
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $1.00; authorized 250,000 shares, issued and outstanding - none      
Common stock, par value $.01; authorized 3,000,000 shares; 1,693,397 shares issued and1,362,031 shares outstanding at March 31, 2013 and June 30, 2012 16,934 16,934
Additional paid-in capital 2,882,842 2,880,571
Retained earnings 976,158 547,546
Accumulated other comprehensive loss (756,519) (854,943)
Stockholders Equity before treasury stock 3,119,415 2,590,108
Less: Treasury stock 331,366 shares at cost (487,028) (487,028)
TOTAL STOCKHOLDERS' EQUITY 2,632,387 2,103,080
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,535,659 $ 4,334,752