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CONSOLIDATED BALANCE SHEETS (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 3,650,291 $ 4,362,531
Trade receivables – net 45,008,793 47,593,807
Other receivables 946,686 911,103
Inventories 65,019,048 58,852,556
Income tax receivable 1,164,664  
Deferred income taxes 1,154,040 1,218,101
Prepaid expenses 2,561,941 1,793,852
Total current assets 119,505,463 114,731,950
FIXED ASSETS – net 23,557,102 22,129,282
IDENTIFIED INTANGIBLES 30,493,107 30,495,485
OTHER ASSETS 510,293 1,222,712
TOTAL ASSETS 174,065,965 168,579,429
CURRENT LIABILITIES:    
Accounts payable 5,696,363 9,024,851
Current maturities - long term debt   487,480
Salaries and wages 2,310,906 2,702,166
Taxes - other 609,992 590,217
Accrued freight 633,254 787,593
Commissions 709,201 669,389
Current portion of pension funding   680,000
Income taxes payable   422,229
Other 970,806 1,211,816
Total current liabilities 10,930,522 16,575,741
LONG TERM DEBT - less current maturities 35,000,000 34,608,338
DEFERRED LIABILITIES:    
Deferred income taxes 10,987,395 9,374,685
Pension liability   2,839,293
Other deferred liabilities 488,437 177,814
TOTAL LIABILITIES 57,406,354 63,575,871
COMMITMENTS AND CONTINGENCIES      
SHAREHOLDERS' EQUITY:    
Common stock, no par value; 25,000,000 shares authorized; outstanding; 2011 - 7,489,995 and 2010 - 7,426,787; and additional paid-in capital 69,572,270 69,052,101
Accumulated other comprehensive loss   (2,828,989)
Retained earnings 47,087,341 38,780,446
Total shareholders' equity 116,659,611 105,003,558
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 174,065,965 $ 168,579,429