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Balance Sheets - USD ($)
Sep. 30, 2024
Jun. 30, 2024
ASSETS    
Cash and cash equivalents $ 4,813,898 $ 4,351,970
Investment securities 18,660,742 18,878,631
Trade accounts receivable, less allowance for credit losses of $3,000 7,018,823 6,635,490
Inventories:    
Raw materials 1,665,648 1,693,448
Work-in-process 1,743,175 1,645,973
Costs related to contracts in process 16,026,844 15,904,588
Total inventories 19,435,667 19,244,009
Deferred tax assets 851,362 895,154
Prepaid expenses and other current assets 2,993,354 3,231,402
Total current assets 53,773,846 53,236,656
Property, plant and equipment, net 3,861,245 3,306,275
Total assets 57,635,091 56,542,931
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 3,921,893 3,751,209
Accrued expenses:    
Salaries and wages 657,183 928,163
Vacation 526,246 511,144
ESOP payable 70,323
Other 862,564 757,552
Payroll and other taxes withheld 59,067 56,862
Contract liabilities 8,715,610 9,043,422
Income taxes payable 329,149 220,607
Total current liabilities 15,142,035 15,268,959
Total liabilities 15,142,035 15,268,959
Commitments and contingencies (See Note 5)
Authorized 10,000,000 shares; Issued 3,129,874 shares as of September 30, 2024 and June 30, 2024. Outstanding 2,744,458 and 2,733,958 shares as of September 30, 2024 and June 30, 2024, respectively (includes 206,070 and 211,487 Unearned ESOP shares, respectively) 1,043,291 1,043,291
Capital in excess of par value 24,111,147 23,930,428
Accumulated other comprehensive gain 14,236 6,544
Retained earnings 26,969,864 26,004,790
Total stockholders equity before ESOP 52,138,538 50,985,053
Less: Unearned ESOP shares (3,868,093) (3,868,093)
Cost of 385,416 and 395,916 shares of common stock in treasury as of September 30, 2024 and June 30, 2024, respectively (5,777,389) (5,842,988)
Total stockholders’ equity 42,493,056 41,273,972
Total liabilities and stockholders' equity $ 57,635,091 $ 56,542,931