XML 21 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating activities:  
Net income$ 727,799$ 1,124,156
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization847,341910,338
Stock-based compensation137,826151,232
Deferred income taxes(112,000)(142,000)
Foreign currency transaction (gain)/loss43,184(48,919)
(Increase) decrease in accounts receivable19,406115,265
(Increase) decrease in inventories421,432(815,305)
(Increase) decrease in refundable income taxes(17,316)(3,251)
(Increase) decrease in prepaid expenses and other current assets(217,026)(136,790)
(Increase) decrease in other assets43,524(13,069)
Increase (decrease) in accounts payable & accrued expenses and other noncurrent liabilities352,607553,321
Net cash provided by operating activities2,246,7771,694,978
Investing activities:  
Proceeds from the sale of property, plant and equipment02,925
Purchase of property, plant and equipment(241,000)(348,252)
Payment of life insurance premiums(252,250)(258,100)
Net cash used in investing activities(493,250)(603,427)
Financing activities:  
Principal payments on long-term borrowings(422,916)(387,255)
Common stock dividends paid(373,572)(247,672)
Other0547
Purchase of stock for treasury(80,539)0
Net cash used in financing activities(877,027)(634,380)
Effect of exchange rate changes on cash and cash equivalents(66,867)186,604
Increase in cash and cash equivalents809,633643,775
Cash and cash equivalents at beginning of period6,331,0385,760,913
Cash and cash equivalents at end of period$ 7,140,671$ 6,404,688