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REPORTABLE SEGMENTS | 12 Months Ended
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Jan. 03, 2015
REPORTABLE SEGMENTS [Abstract] |
REPORTABLE SEGMENTS | 11. Reportable Segments The accounting policies of the segments are the same as those described in Note 2. Operating profit is total revenue less operating expenses, excluding interest and miscellaneous non-operating income and expenses. Inter-segment revenue, which is eliminated, is recorded on the same basis as sales to unaffiliated customers. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations. One customer of the Metal Products segment, Jennmar Corporation, accounted for 10.5% of total sales in 2014 and 11.5% of total sales in 2013. No other customer exceeded 10% of total revenue in 2014, 2013 or 2012.
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenue: Sales to unaffiliated customers: |  |  |  |  |  |  |  |  |
Industrial Hardware |  | $ | 58,666,229 |  |  | $ | 60,367,209 |  |  | $ | 72,268,559 |
Security Products |  |  | 49,381,553 |  |  |  | 48,751,688 |  |  |  | 50,138,121 |
Metal Products |  |  | 32,777,578 |  |  |  | 33,339,382 |  |  |  | 35,102,505 |
|  | $ | 140,825,360 |  |  | $ | 142,458,279 |  |  | $ | 157,509,185 |
Inter-segment Revenue: |  |  |  |  |  |  |  |  |
Industrial Hardware |  | $ | 984,192 |  |  | $ | 373,797 |  |  | $ | 270,911 |
Security Products |  |  | 2,565,733 |  |  |  | 2,558,127 |  |  |  | 2,914,667 |
Metal Products |  |  | — |  |  |  | 11,540 |  |  |  | — |
|  | $ | 3,549,925 |  |  | $ | 2,943,464 |  |  | $ | 3,185,578 |
Income Before Income Taxes: |  |  |  |  |  |  |  |  |
Industrial Hardware |  | $ | 5,063,786 |  |  | $ | 4,797,254 |  |  | $ | 7,566,512 |
Security Products |  |  | 4,058,554 |  |  |  | 2,780,403 |  |  |  | 4,113,661 |
Metal Products |  |  | 2,596,308 |  |  |  | 2,808,664 |  |  |  | 1,871,250 |
Operating Profit |  |  | 11,718,648 |  |  |  | 10,386,321 |  |  |  | 13,551,423 |
Interest expense |  |  | (254,576 | ) |  |  | (322,731 | ) |  |  | (369,357 | )
Other income |  |  | 64,691 |  |  |  | 50,305 |  |  |  | 42,452 |
|  | $ | 11,528,763 |  |  | $ | 10,113,895 |  |  | $ | 13,224,518 |
Geographic Information: |  |  |  |  |  |  |  |  |  |  |  |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 117,478,557 |  |  | $ | 114,085,322 |  |  | $ | 120,604,363 |
Foreign |  |  | 23,346,803 |  |  |  | 28,372,957 |  |  |  | 36,904,822 |
|  | $ | 140,825,360 |  |  | $ | 142,458,279 |  |  | $ | 157,509,185 |
Foreign sales are primarily to customers in North America.
Identifiable Assets: |  |  |  |  |  |  |  |  |
United States |  | $ | 105,771,961 |  |  | $ | 96,289,200 |  |  | $ | 95,441,029 |
Foreign |  |  | 15,498,595 |  |  |  | 17,569,209 |  |  |  | 20,413,121 |
|  | $ | 121,270,556 |  |  | $ | 113,858,409 |  |  | $ | 115,854,150 |
Industrial Hardware |  | $ | 29,660,695 |  |  | $ | 31,820,269 |  |  | $ | 34,425,594 |
Security Products |  |  | 51,573,251 |  |  |  | 43,582,088 |  |  |  | 41,857,156 |
Metal Products |  |  | 21,037,058 |  |  |  | 19,282,393 |  |  |  | 18,281,619 |
|  |  | 102,271,004 |  |  |  | 94,684,750 |  |  |  | 94,564,369 |
General corporate |  |  | 18,999,552 |  |  |  | 19,173,659 |  |  |  | 21,289,781 |
|  | $ | 121,270,556 |  |  | $ | 113,858,409 |  |  | $ | 115,854,150 |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |
Industrial Hardware |  | $ | 1,631,521 |  |  | $ | 2,085,618 |  |  | $ | 1,769,097 |
Security Products |  |  | 621,501 |  |  |  | 592,555 |  |  |  | 628,652 |
Metal Products |  |  | 1,233,280 |  |  |  | 1,147,113 |  |  |  | 1,042,051 |
|  | $ | 3,486,302 |  |  | $ | 3,825,286 |  |  | $ | 3,439,800 |
Capital Expenditures: |  |  |  |  |  |  |  |  |
Industrial Hardware |  | $ | 1,929,022 |  |  | $ | 1,967,335 |  |  | $ | 1,552,147 |
Security Products |  |  | 973,365 |  |  |  | 469,669 |  |  |  | 260,692 |
Metal Products |  |  | 664,851 |  |  |  | 3,002,556 |  |  |  | 2,337,104 |
|  |  | 3,567,238 |  |  |  | 5,439,560 |  |  |  | 4,149,943 |
Currency translation adjustment |  |  | 10,347 |  |  |  | (245 | ) |  |  | (2,730 | )
General corporate |  |  | 55,580 |  |  |  | 84,427 |  |  |  | 69,757 |
|  | $ | 3,633,165 |  |  | $ | 5,523,742 |  |  | $ | 4,216,970 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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