XML 35 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 5,453,386 $ 4,132,953
Marketable securities, current   205,000
Trade accounts receivable, less allowance for doubtful accounts of $298,235 in 2014 and $315,417 in 2013 10,498,008 12,335,124
Other receivables 389,291 273,405
Inventories 8,498,018 7,470,697
Prepaid income taxes 548,704 595,898
Prepaid expenses, other 1,113,502 1,126,582
Deferred income taxes 1,176,862 1,429,794
Total current assets 27,677,771 27,569,453
Property, plant and equipment, net of accumulated depreciation of $8,283,620 in 2014 and $7,811,276 in 2013 5,912,479 5,726,754
Goodwill 8,970,733 9,034,479
Investment in affiliated company 3,411,251 3,441,500
Intangible assets, net 12,325,049 12,718,203
Other assets 203,583 213,279
TOTAL ASSETS 58,500,866 58,703,668
Current liabilities:    
Current maturities of notes payable 1,892,812 2,697,678
Revolving lines of credit 4,848,752 4,263,821
Accounts payable 3,412,024 3,864,355
Compensation and related expenses 3,510,191 3,752,542
Other accrued expenses 853,273 781,151
Accrued product warranties 230,687 335,533
Dividends payable 622,856 619,322
Deferred revenue 1,440,226 620,428
Total current liabilities 16,810,821 16,934,830
Notes payable 762,104 1,306,849
Obligations to former employees 76,657 77,334
Deferred income taxes 2,198,527 2,611,491
Accrued income taxes 319,910 304,424
Total noncurrent liabilities 3,357,198 4,300,098
Total liabilities 20,168,019 21,234,928
Capital stock – undesignated. Authorized 3,000,000 shares; none issued and outstanding in 2014 and 2013      
Common stock – $0.10 par value. Authorized 22,000,000 shares; issued and outstanding 5,662,326 shares in 2014 and 5,630,197 shares in 2013 566,233 563,020
Additional paid-in capital 5,529,125 5,063,627
Retained earnings 31,878,285 31,229,068
Accumulated other comprehensive income 359,204 613,025
Total stockholders' equity 38,332,847 37,468,740
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 58,500,866 $ 58,703,668