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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Schedule of income tax provision (benefit)

		Years Ended December 31
		2012			2011			2010
Current:
Federal		$	4,301,000		$	3,752,000		$	4,259,000
State		768,000			702,000			454,000
		5,069,000			4,454,000			4,713,000
Deferred:
Federal		699,000			396,000			191,000
State		(89,000		)	56,000			115,000
		610,000			452,000			306,000
Total income tax provision		$	5,679,000		$	4,906,000		$	5,019,000

Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities

		December 31
		2012			2011
Current deferred tax assets:
Reserves		$	383,000		$	377,000
Inventory capitalization		205,000			230,000
Compensation programs		245,000			262,000
Retirement liability		55,000			72,000
Equity-based compensation		228,000			228,000
Total current deferred tax assets		$	1,116,000		$	1,169,000
Long-term deferred tax assets / (liabilities):
Excess of book over tax basis of fixed assets		$	(1,688,000	)	$	(1,421,000	)
Goodwill		(751,000		)	(691,000		)
Intangible assets		(69,000		)	(146,000		)
Total long-term deferred tax liabilities		(2,508,000		)	(2,258,000		)
Net operating loss carryforwards		443,000			544,000
Deferred rent		67,000			64,000
Compensation programs		408,000			358,000
Total long-term deferred tax assets		918,000			966,000
Net long-term deferred tax liabilities		$	(1,590,000	)	$	(1,292,000	)

Schedule of income tax rate reconciliation

		Years Ended December 31
		2012		2011		2010
Computed “expected” tax rate		34.0	%	34.0	%	34.0	%
Increase (decrease) in income taxes resulting from:
State taxes, net of federal tax benefit		2.7		3.4		2.0
Meals and entertainment		0.1		0.1		0.1
R&D credits		(0.1	)	(0.4	)	(0.3	)
Domestic production deduction		(2.5	)	(2.8	)	(1.8	)
Non-deductible ISO stock option expense		0.1		0.1		0.1
Unrecognized tax benefits		(0.2	)	(2.4	)	1.0
Income of non-controlling interests		—		(1.0	)	(0.4	)
Other		0.2		0.3		0.1
Effective tax rate		34.3	%	31.3	%	34.8	%

Schedule of gross unrecognized tax benefits resulting from uncertain tax positions

		Federal and State Tax
		2012			2011
Gross UTB balance at beginning of fiscal year		$	320,000		$	685,000
Increases for tax positions of prior years		—			40,000
Reductions for tax positions of prior years		(30,000		)	(405,000		)
Gross UTB balance at December 31		$	290,000		$	320,000

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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