|
Condensed Consolidated Balance Sheets (USD $)
|
Jun. 30, 2012
|
Sep. 30, 2011
|
| Current assets: |
|
|
| Cash |
$ 568,960 |
$ 1,389,665 |
| Accounts receivable, less allowance for doubtful accounts of $1.2 million at both June 2012 and September 2011 |
34,032,935 |
32,963,693 |
| Inventories, net |
49,381,171 |
38,447,982 |
| Deferred income taxes |
1,784,114 |
1,707,889 |
| Prepaid and other current assets |
4,976,295 |
6,073,536 |
| Total current assets |
90,743,475 |
80,582,765 |
| Property and equipment, net |
13,128,075 |
13,713,238 |
| Goodwill |
6,349,827 |
6,349,827 |
| Other intangible assets, net |
5,277,225 |
5,550,978 |
| Other assets |
1,289,963 |
1,238,825 |
| TOTAL ASSETS |
116,788,565 |
107,435,633 |
| Current liabilities: |
|
|
| Accounts payable |
16,060,295 |
18,439,446 |
| Accrued expenses |
6,660,965 |
7,153,672 |
| Accrued wages, salaries and bonuses |
2,979,030 |
2,460,558 |
| Income taxes payable |
303,998 |
2,100,180 |
| Current maturities of long-term debt |
1,185,647 |
1,384,625 |
| Total current liabilities |
27,189,935 |
31,538,481 |
| Credit facility |
30,080,482 |
20,771,613 |
| Deferred income taxes |
3,842,164 |
2,743,238 |
| Long-term debt, less current maturities |
5,374,586 |
6,194,195 |
| Other long-term liabilities |
338,197 |
429,513 |
| Shareholders' equity: |
|
|
| Preferred stock, $0.01 par value, 1,000,000 shares authorized, 162,000 shares outstanding and issued in Series A and B referred to below |
|
|
| Common stock, $.01 par value, 3,000,000 shares authorized, 608,271 shares outstanding at June 2012 and 609,320 shares outstanding at September 2011 |
6,252 |
6,093 |
| Additional paid-in capital |
10,910,595 |
9,981,055 |
| Retained earnings |
35,914,354 |
31,721,445 |
| Treasury stock, 17,000 shares at cost |
(918,000) |
|
| Total shareholders' equity |
45,913,201 |
41,708,593 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
116,788,565 |
107,435,633 |
|
Series A Preferred Stock
|
|
|
| Cumulative, convertible preferred stock |
|
|
| Cumulative, convertible preferred stock |
2,500,000 |
2,500,000 |
|
Series B Preferred Stock
|
|
|
| Cumulative, convertible preferred stock |
|
|
| Cumulative, convertible preferred stock |
$ 1,550,000 |
$ 1,550,000 |