Condensed Consolidated Balance Sheets - USD ($)
|
Jun. 30, 2015 |
Mar. 31, 2015 |
| CURRENT ASSETS: |
|
|
| Cash |
$ 3,824,429
|
$ 2,225,924
|
| Accounts receivable, net of allowances for bad debts and cash discounts of $22,276 and $27,276 at June 30 and March 31, 2015, respectively |
5,651,682
|
6,896,186
|
| Inventories |
40,169,832
|
40,850,666
|
| Other |
18,123
|
144,579
|
| TOTAL CURRENT ASSETS |
49,664,066
|
50,117,355
|
| PROPERTY, PLANT AND EQUIPMENT: |
|
|
| Land |
1,082,331
|
1,082,331
|
| Buildings and yard improvements |
7,101,615
|
7,026,980
|
| Machinery and equipment |
30,768,124
|
30,690,049
|
| Construction in progress |
8,056,697
|
7,374,177
|
| Less accumulated depreciation |
(31,084,176)
|
(30,656,226)
|
| Property, Plant and Equipment, Net, Total |
15,924,591
|
15,517,311
|
| OTHER ASSETS: |
|
|
| Deferred income tax asset |
151,780
|
187,358
|
| Cash value of officers' life insurance and other assets |
1,153,250
|
1,136,000
|
| TOTAL ASSETS |
66,893,687
|
66,958,024
|
| CURRENT LIABILITIES: |
|
|
| Accounts payable and accrued expenses |
1,370,147
|
2,148,555
|
| Income taxes payable |
62,974
|
|
| Dividends payable |
67,994
|
67,994
|
| Contribution to profit sharing plan |
102,000
|
51,000
|
| Employee compensation and related expenses |
502,533
|
383,562
|
| TOTAL CURRENT LIABILITIES |
2,105,648
|
2,651,111
|
| POSTRETIREMENT BENEFITS OTHER THAN PENSIONS |
1,113,059
|
1,089,888
|
| STOCKHOLDERS' EQUITY: |
|
|
| Common stock, par value $1: Authorized shares - 10,000,000 Issued shares - 7,975,160 at June 30 and March 31, 2015 |
7,975,160
|
7,975,160
|
| Additional paid-in capital |
29,003,674
|
29,003,674
|
| Treasury stock at cost (1,175,716 shares at June 30 and March 31, 2015) |
(5,475,964)
|
(5,475,964)
|
| Retained earnings |
32,172,110
|
31,714,155
|
| TOTAL STOCKHOLDERS' EQUITY |
63,674,980
|
63,217,025
|
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 66,893,687
|
$ 66,958,024
|