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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense from continuing operations are as follows:

		2015			2014			2013
Current
Federal		$	9,814,000		$	10,282,000		$	11,682,000
State			396,000			96,000			(202,000)
Total Current			10,210,000			10,378,000			11,480,000
Deferred
Federal			(125,000)			176,000			365,000
State			39,000			206,000			63,000
Foreign			(20,000)			(96,000)			-
Total Deferred			(106,000)			286,000			428,000
Total Income Tax Expense from Continuing Operations		$	10,104,000		$	10,664,000		$	11,908,000

Schedule Of Components Of Total Income Tax Provision

The total tax provision for the years ended December 31, 2015, 2014, and 2013 was $9.9 million, $4.9 million, $10.0 million, respectively. Those amounts have been allocated to the following financial statement items:

		2015			2014			2013
Income from continuing operations		$	10,104,000		$	10,664,000		$	11,908,000
Income/(loss) from discontinued operations			387,000			(5,302,000)			(1,690,000)
Stockholders' equity, unrealized gain (loss) on investment securities & foreign currency			(357,000)			(182,000)			143,000
Additional paid in capital, share-based compensation tax benefit			(247,000)			(275,000)			(383,000)
Total Income Tax Expense		$	9,887,000		$	4,905,000		$	9,978,000

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consisted of the following at December 31,

		2015			2014			2013
Reserves on inventory and sales		$	199,000		$	291,000		$	332,000
Credit and loss carryforwards			735,000			699,000			413,000
Stock compensation			1,149,000			1,283,000			896,000
Accrued expenses and deferred costs			1,068,000			3,170,000			1,260,000
Inventory capitalization			49,000			142,000			337,000
Sales tax accrual			-			8,000			337,000
Unrealized gain/loss on investments			85,000			-			-
Total deferred tax assets			3,285,000			5,593,000			3,575,000
Unrealized gain/loss on investments			-			(294,000)			(476,000)
Prepaid expenses			(755,000)			(779,000)			(710,000)
Depreciation			(6,189,000)			(6,285,000)			(7,091,000)
Foreign currency			(23,000)			-			-
Total deferred tax liabilities			(6,967,000)			(7,358,000)			(8,277,000)
Net deferred tax liabilities		$	(3,682,000)		$	(1,765,000)		$	(4,702,000)

Schedule of Effective Income Tax Rate Reconciliation

The differences between the United States federal statutory tax rate and the Company's effective tax rate are as follows:

		2015					2014					2013
Statutory federal tax		$	10,381,000		35.0	%	$	11,093,000		35.0	%	$	13,665,000		35.0	%
State income taxes, net of federal benefit			414,000		1.4	%		314,000		1.0	%		393,000		1.0	%
Foreign Taxes			15,000		0.1	%		73,000		0.2	%		-		0.0	%
Domestic manufacturer deduction			(824,000)		-2.8	%		(811,000)		-2.6	%		(979,000)		-2.5	%
Other permanent differences			4,000		0.0	%		200,000		0.6	%		173,000		0.4	%
Research and development and jobs credits			(247,000)		-0.8	%		(203,000)		-0.6	%		(459,000)		-1.2	%
Other state income tax benefits			114,000		0.4	%		(113,000)		-0.4	%		(707,000)		-1.8	%
Other			247,000		0.8	%		111,000		0.4	%		(178,000)		-0.4	%
		$	10,104,000		34.1	%	$	10,664,000		33.6	%	$	11,908,000		30.5	%

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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