Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Schedule of income before income taxes

	2012			2011		2010
Income (loss) before income taxes:
Domestic	$	3,931,365		$	6,405,112	$	5,060,452
Foreign		(551,243	)		1,798,868		1,402,918
Total	$	3,380,122		$	8,203,980	$	6,463,370

Schedule of components of provision (benefit) for income taxes

	2012			2011			2010
Current tax expense:
Federal	$	1,420,599		$	1,934,352		$	1,549,506
State		13,437			173,360			175,814
Foreign		354,314			552,292			443,908
Total current expense		1,788,350			2,660,004			2,169,228
Deferred tax expense (benefit):
Federal		(72,727	)		97,588			(223,484	)
State		(3,542	)		4,580			(1,124	)
Foreign		(333,933	)		(9,110	)		366
Total deferred expense (benefit)		(410,202	)		93,058			(224,242	)
Provision for income taxes	$	1,378,148		$	2,753,062		$	1,944,986

Schedule of the reasons for the variance of effective income tax rate from the federal statutory tax rate

	Percentage of pretax income for years ended December 31,
	2012			2011			2010
Tax at statutory federal income tax rate		34.0	%		34.0	%		34.0	%
Increases (reductions) in taxes resulting from:
State income taxes, net of federal benefit		1.2			1.5			1.8
Change in valuation allowance		—			0.6			—
Domestic manufacturing deduction		(3.8	)		(2.1	)		(2.5	)
Capitalized acquisition costs		3.6			—			—
Effect of foreign operations		5.9			(0.7	)		(0.5	)
Foreign dividend income		(1.5	)		—			(2.9	)
Tax-exempt interest		(0.4	)		(0.2	)		(0.2	)
Changes in unrecognized tax benefits		(0.3	)		0.3			0.6
Stock option compensation		2.5			0.3			0.7
Research credit		—			(1.0	)		(1.1	)
Other		(0.4	)		0.9			0.2
Effective income tax rate		40.8	%		33.6	%		30.1	%

Schedule of tax effect of significant temporary differences representing deferred tax assets and liabilities

The tax effect of significant temporary differences representing deferred tax assets and liabilities at December 31, 2012 and 2011 were as follows:

	2012			2011
Deferred tax assets:
Allowance for doubtful accounts	$	34,580		$	40,155
Inventory items		371,089			159,547
Reserves and accruals		502,141			542,095
Compensation expense—stock options		177,717			128,045
Foreign tax credit carryover		329,314			279,366
Intangibles		29,734			33,371
Other		319,137			205,769
Subtotal		1,763,712			1,388,348
Less: Valuation allowance		(76,504	)		(50,504	)
Total deferred tax assets		1,687,208			1,337,844
Deferred tax liabilities:
Fixed assets		(506,478	)		(468,887	)
Intangibles		(2,808,675	)		—
Total deferred tax liabilities		(3,315,153	)		(468,887	)
Net deferred tax liability	$	(1,627,945	)	$	868,957

Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits

	2012			2011
Balance at January 1	$	244,000		$	217,000
Additions based on tax positions related to the current year		5,000			77,000
Additions based on tax positions related to the prior year		—			—
Reductions due to closing of statute of limitations		(14,000	)		(9,000	)
Reductions based on tax positions related to the prior year		(2,000	)		(41,000	)
Balance at December 31	$	233,000		$	244,000