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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Operating Activities    
Net income $ 2,983,543 $ 2,735,910
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,536,319 1,849,128
Unrecognized pension and other postretirement benefits 231,005 1,454,353
Loss on sale of equipment and other assets 48,618 39,702
Provision for doubtful accounts 24,866 0
Issuance of Common Stock for directors' fees 81,970 74,561
Changes in operating assets and liabilities:    
Accounts receivable (4,519,266) (2,318,859)
Inventories 3,249,443 2,864,295
Prepaid expenses and other (1,636,168) 461,524
Other assets 970,284 (40,364)
Accounts payable 956,626 236,787
Accrued compensation (822,861) (877,879)
Other accrued expenses 3,204,161 (399,298)
Net cash provided by operating activities 6,308,540 6,079,860
Investing Activities    
Marketable securities (318,039) 0
Business Acquisition, net of cash acquired (42,148,000) 0
Purchases of property, plant and equipment (708,499) (1,084,325)
Net cash used in investing activities (43,174,538) (1,084,325)
Financing Activities    
Proceeds from issuance of long-term debt 31,000,000 0
Proceeds from short term borrowings 6,614,611 0
Payments on revolving credit note (1,614,611) 0
Principal payments on long-term debt (1,785,714) (1,071,428)
Dividends paid (1,376,914) (1,375,145)
Net cash provided by (used in) financing activities 32,837,372 (2,446,573)
Effect of exchange rate changes on cash 382,052 (117,865)
Net change in cash and cash equivalents (3,646,574) 2,431,097
Cash and cash equivalents at beginning of period 22,725,376 17,814,986
Cash and cash equivalents at end of period $ 19,078,802 $ 20,246,083