|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| Current Assets: |
|
|
| Cash and cash equivalents |
$ 4,813,154 |
$ 8,737,543 |
| Restricted cash and cash equivalents |
891,588 |
760,037 |
| Certificates of deposit |
926,227 |
924,294 |
| Accounts receivable, net |
6,430,900 |
6,754,434 |
| Inventory |
4,159,747 |
3,520,530 |
| Prepaid items and other assets |
475,522 |
322,369 |
| Income taxes receivable |
326,181 |
383,943 |
| Deferred income taxes |
585,000 |
481,000 |
| Total Current Assets |
18,608,319 |
21,884,150 |
| Property and Equipment, Net |
1,721,323 |
1,524,880 |
| Other Assets |
|
|
| Goodwill |
4,628,435 |
570,150 |
| Other Assets |
98,498 |
103,591 |
| Total Assets |
25,056,575 |
24,082,771 |
| Current Liabilities: |
|
|
| Accounts payable |
743,436 |
799,007 |
| Accrued payroll |
326,368 |
337,563 |
| Other accrued expenses |
1,825,313 |
1,573,409 |
| Billings in excess of costs and estimated earnings |
483,587 |
201,015 |
| Total Current Liabilities |
3,378,704 |
2,910,994 |
| Long-Term Liabilities |
|
|
| Deferred rent |
1,025,757 |
1,127,860 |
| Deferred income taxes |
76,000 |
69,000 |
| Total Long-term Liabilities |
1,101,757 |
1,196,860 |
| Total Liabilities |
4,480,461 |
4,107,854 |
| Stockholders’ Equity |
|
|
| Common stock, 12,000,000 shares authorized; 4,724,632 and 4,704,632 issued and outstanding |
47,247 |
47,047 |
| Additional paid-in capital |
4,316,865 |
4,173,828 |
| Retained earnings |
16,406,112 |
15,930,551 |
| Accumulated other comprehensive loss |
(194,110) |
(176,509) |
| Total Stockholders’ Equity |
20,576,114 |
19,974,917 |
| Total Liabilities and Stockholders’ Equity |
$ 25,056,575 |
$ 24,082,771 |