XML 19 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (Loss) $ (2,139,396) $ 6,603,157 $ 9,845,298
Adjustments to reconcile net income (Loss) to net cash provided by operating activities:      
Depreciation and amortization 7,720,836 7,188,123 6,941,905
Deferred income taxes (602,991) 332,650 989,473
Loss on disposal of fixed assets 47,712 19,500 138,056
Reorganizational charge 486,496    
Impairment charge 3,000,000    
Stock compensation expense 359,359 412,978 307,102
Change in assets and liabilities:      
Receivables 3,273,852 11,150,897 (6,888,027)
Inventories 7,822,617 8,245,983 (7,065,372)
Income tax receivable (1,114,979) (128,699) 242,228
Other current assets 176,410 22,925 (24,035)
Other assets 26,303 40,678 109,208
Accounts payable 2,346,865 (6,004,991) 4,004,111
Accrued and other liabilities (104,743) (4,640,636) 4,380,101
Net cash provided by operating activities 21,298,341 23,242,565 12,980,048
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of fixed assets (5,906,479) (8,654,642) (7,442,086)
Proceeds from sales of fixed assets 44,764 17,495 63,012
Investment in trademarks and patents   (1,176) (9,446)
Net cash used in investing activities (5,861,715) (8,638,323) (7,388,520)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from revolving credit facility 71,255,424 68,423,672 75,190,968
Repayments on revolving credit facility (80,371,505) (80,993,956) (77,308,793)
Debt financing costs     (54,647)
Proceeds from stock options   8,742  
Repurchase of common stock (1,950,114)    
Dividends paid on common stock (3,297,066) (3,252,254) (3,017,979)
Net cash used in financing activities (14,363,261) (15,813,796) (5,190,451)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,073,365 (1,209,554) 401,077
CASH AND CASH EQUIVALENTS:      
BEGINNING OF PERIOD 3,407,140 4,616,694 4,215,617
END OF PERIOD $ 4,480,505 $ 3,407,140 $ 4,616,694