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Schedule of Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Data (Unaudited)  
Schedule of Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

1st Qtr

 

2nd Qtr

 

3rd Qtr

 

4th Qtr

 

Total

NET SALES

 $

11,427 

 $

10,732 

 $

10,870 

 $

12,992 

 $

46,021 

Cost of sales

 

9,933 

 

9,020 

 

9,289 

 

14,324 

 

42,566 

GROSS MARGIN

 

1,494 

 

1,712 

 

1,581 

 

(1,332)

 

3,455 

Technical services and research and development

 

153 

 

171 

 

135 

 

193 

 

652 

Selling, general and administrative expenses

 

1,278 

 

1,247 

 

1,119 

 

1,078 

 

4,722 

Loss on disposal of assets

 

10 

 

- 

 

- 

 

- 

 

10 

OPERATING INCOME (LOSS)

 

53 

 

294 

 

327 

 

(2,603)

 

(1,929)

OTHER EXPENSE:

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(84)

 

(99)

 

(103)

 

(103)

 

(389)

(Loss) gain on foreign currency exchange rate

 

(87)

 

20 

 

(84)

 

11 

 

(140)

Other, net

 

12 

 

- 

 

6 

 

- 

 

18 

Total Other Expense

 

(159)

 

(79)

 

(181)

 

(92)

 

(511)

INCOME (LOSS) BEFORE INCOME TAX

 

(106)

 

215 

 

146 

 

(2,695)

 

(2,440)

Income tax (benefit) expense

 

(31)

 

65 

 

33 

 

(891)

 

(824)

NET INCOME (LOSS)

 $

(75)

 $

150 

 $

113 

 $

(1,804)

 $

(1,616)

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

Basic

 $

(0.03)

 $

0.05 

 $

0.04 

 $

(0.60)

 $

(0.54)

Diluted

 $

(0.03)

 $

0.04 

 $

0.03 

 $

(0.60)

 $

(0.54)

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

Basic

 

2,987 

 

2,998 

 

3,012 

 

3,012 

 

3,002 

Diluted

 

2,987 

 

3,404 

 

3,422 

 

3,012 

 

3,002 

 

 

 

2012

 

 

1st Qtr

 

2nd Qtr

 

3rd Qtr

 

4th Qtr

 

Total

NET SALES

 $

12,808 

 $

14,108 

 $

19,914 

 $

9,823 

 $

56,653 

Cost of sales

 

9,618 

 

10,441 

 

16,068 

 

8,546 

 

44,673 

GROSS MARGIN

 

3,190 

 

3,667 

 

3,846 

 

1,277 

 

11,980 

Technical services and research and development

 

82 

 

101 

 

90 

 

111 

 

384 

Selling, general and administrative expenses

 

1,224 

 

1,359 

 

1,242 

 

1,204 

 

5,029 

Gain on disposal of assets

 

- 

 

- 

 

(6)

 

- 

 

(6)

OPERATING INCOME

 

1,884 

 

2,207 

 

2,520 

 

(38)

 

6,573 

OTHER EXPENSES:

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(142)

 

(112)

 

(143)

 

(74)

 

(471)

Gain (loss) on foreign currency exchange rate

 

23 

 

(20)

 

(24)

 

(29)

 

(50)

Other, net

 

- 

 

1 

 

- 

 

(1)

 

- 

Total Other Expense

 

(119)

 

(131)

 

(167)

 

(104)

 

(521)

INCOME (LOSS) BEFORE INCOME TAX

 

1,765 

 

2,076 

 

2,353 

 

(142)

 

6,052 

Income tax expense (benefit)

 

369 

 

517 

 

516 

 

(378)

 

1,024 

NET INCOME

 $

1,396 

 $

1,559 

 $

1,837 

 $

236 

 $

5,028 

Plus: 6% Convertible Debenture Interest Expense

 

22 

 

- 

 

- 

 

- 

 

22 

Diluted Income Available to Common Shareholders

 $

1,418 

 $

1,559 

 $

1,837 

 $

236 

 $

5,050 

 

 

 

 

 

 

 

 

 

 

 

Income per common share:

 

 

 

 

 

 

 

 

 

 

Basic

 $

0.58 

 $

0.56 

 $

0.62 

 $

0.08 

 $

1.81 

Diluted

 $

0.41 

 $

0.45 

 $

0.53 

 $

0.07 

 $

1.49 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

Basic

 

2,402 

 

2,769 

 

2,968 

 

2,980 

 $

2,781 

Diluted

 

3,439 

 

3,462 

 

3,441 

 

3,424 

 $

3,394