|
Consolidated Statements of Cash Flows (Unaudited) (USD $)
|
9 Months Ended |
|
Jun. 29, 2013
|
Jun. 30, 2012
|
| Operating activities: |
|
|
| Net income |
$ 3,820,330 |
$ 3,693,420 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
954,345 |
899,775 |
| Provision for losses on accounts receivable |
49,784 |
(27,000) |
| Gain on sale and disposal of property and equipment |
(916) |
|
| Increase in cash value of life insurance |
(126,051) |
(148,302) |
| Deferred compensation |
(44,879) |
(40,503) |
| Stock compensation expense |
27,582 |
54,198 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(2,029,044) |
(967,016) |
| Inventories |
2,716,959 |
2,241,060 |
| Prepaid expenses and other assets |
(452,764) |
288,275 |
| Accounts payable and accrued expenses |
517,142 |
(395,736) |
| Net cash provided by operating activities |
5,432,488 |
5,598,171 |
| Investing activities: |
|
|
| Acquisition of M.C. Healthcare |
|
(8,251,831) |
| Proceeds from sale of securities available for sale |
|
4,000,000 |
| Purchases of property and equipment |
(427,654) |
(627,645) |
| Proceeds from sale of property and equipment |
7,850 |
|
| Payments for other assets |
(87,376) |
(88,917) |
| Net cash used for investing activities |
(507,180) |
(4,968,393) |
| Financing activities: |
|
|
| Proceeds of long-term debt |
|
9,300,000 |
| Repayment of long-term debt |
|
(8,300,000) |
| Dividends paid |
(4,026,044) |
(993,518) |
| Common stock issued upon exercise of options |
147,665 |
68,946 |
| Net cash (used for) provided by financing activities |
(3,878,379) |
75,428 |
| Effect of exchange rates on cash |
(114,164) |
(40,212) |
| Increase in cash and cash equivalents |
932,765 |
664,994 |
| Cash and cash equivalents at beginning of period |
2,665,302 |
2,124,406 |
| Cash and cash equivalents at end of period |
$ 3,598,067 |
$ 2,789,400 |