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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
Jun. 30, 2010
ASSETS      
Cash and Unrestricted Demand Deposits $ 932,937 $ 4,772,056 $ 1,760
Accounts Receivable, Less, Allowances of $0 (06/30/11), $1,052,862 (12/31/10) and $0 (06/30/10) 1,196,578 3,619,735 1,391,412
Inventories:      
Raw Materials 3,311,930 1,961,627 3,896,853
Work in Process 506,921 864,689 451,515
Finished Goods 8,385,301 3,220,268 8,437,375
Deferred Income Tax Asset 417,271 225,942 530,677
Income Tax Refund Receivable 0 0 52,867
Prepaid Expenses and Other Current Assets 667,065 348,407 664,656
Total Current Assets 15,418,003 15,012,724 15,427,115
Property, Plant and Equipment, Less, Accumulated Depreciation of $18,260,361 (06/30/11), $17,998,537 (12/31/10) and $17,723,169 (06/30/10) 4,326,558 4,338,717 4,517,231
Goodwill 413,280 413,280 413,280
Customer Base and Non-Compete Agreement 628,575 691,517 754,460
Other Assets 240,968 183,609 194,670
TOTAL ASSETS 21,027,384 20,639,847 21,306,756
LIABILITIES AND STOCKHOLDERS' EQUITY      
Notes and Trade Acceptances Payable 720,151 247,836 2,098,456
Current Portion of Long-Term Debt 0 0 6,033
Accounts Payable 1,315,330 304,657 1,063,569
Accrued Liabilities 476,898 1,235,523 488,326
Income Taxes Payable 0 152,009 0
Total Current Liabilities 2,512,379 1,940,025 3,656,384
DEFERRED INCOME TAX LIABILITY 147,355 147,354 209,478
Total Liabilities 2,659,734 2,087,379 3,865,862
STOCKHOLDERS' EQUITY:      
Common Stock: $0.30 Par Value, 2,000,000 Shares Authorized, 583,094 Shares Issued, 519,600 (06/30/11 and 12/31/10) and 519,350 (06/30/10) Shares Outstanding 174,928 174,928 174,928
Capital in Excess of Par Value 1,288,793 1,288,793 1,288,793
Retained Earnings 17,458,393 17,643,211 16,535,337
Accumulated Other Comprehensive Loss (281,245) (281,245) (281,245)
Treasury Stock, at Cost, 63,494 (06/30/11 and 12/31/10) and 63,744 (06/30/10) Shares (273,219) (273,219) (276,919)
Total Stockholders' Equity 18,367,650 18,552,468 17,440,894
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 21,027,384 $ 20,639,847 $ 21,306,756