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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Jan. 01, 2022
Current Assets    
Cash and cash equivalents $ 10,187,522 $ 6,168,304
Accounts receivable, less allowances: 2022-$677,000; 2021-$515,000 42,886,250 43,151,500
Inventories:    
Raw materials and component parts 25,924,696 25,113,487
Work in process 9,323,082 9,636,009
Finished goods 29,388,813 28,112,846
Inventory Net 64,636,591 62,862,342
Current portion of note receivable 1,006,421 1,027,125
Prepaid expenses and other assets 6,598,774 6,943,691
Current assets held for sale 0 3,521,899
Total Current Assets 125,315,558 123,674,861
Property, Plant and Equipment    
Land 824,344 1,292,890
Buildings 14,360,165 16,318,957
Machinery and equipment 40,928,380 39,323,233
Accumulated depreciation (30,000,797) (28,631,329)
Property, Plant and Equipment, net 26,112,092 28,303,751
Other Assets    
Goodwill 70,777,459 72,211,873
Trademarks 5,514,886 5,409,720
Patents, technology and other intangibles net of accumulated amortization 18,819,897 22,863,497
Long term note receivable, less current portion 2,276,631 2,726,698
Deferred income taxes 488,989 0
Right of Use Assets 12,217,521 11,138,535
Total Other Assets 110,095,383 114,350,323
TOTAL ASSETS 261,523,033 266,328,935
Current Liabilities    
Accounts payable 27,638,317 29,633,974
Accrued compensation 3,327,832 4,375,867
Other accrued expenses 3,944,964 4,808,000
Current portion of lease liability 3,059,547 2,664,895
Current portion of long-term debt 9,010,793 7,500,000
Current liabilities held for sale 0 580,990
Total Current Liabilities 46,981,453 49,563,726
Deferred income taxes 10,666,080 1,151,759
Other long-term liabilities 754,762 668,354
Lease liability 9,195,205 8,639,339
Long-term debt, less current portion 55,136,231 63,813,522
Accrued postretirement benefits 666,222 1,284,589
Accrued pension cost 22,174,465 26,605,382
Total Liabilities 134,908,338 151,726,671
Shareholders' Equity    
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 9,056,421 shares in 2022 and 9,029,852 shares in 2021 Outstanding: 6,221,976 shares in 2022 and 6,265,527 shares in 2021 33,586,165 32,620,008
Treasury Stock: 2,834,445 shares in 2022 and 2,765,325 shares in 2021 (22,544,684) (20,907,613)
Retained earnings 138,985,852 129,422,625
Accumulated other comprehensive loss:    
Foreign currency translation (1,140,978) 818,446
Unrealized (loss) gain on interest rate swap, net of tax 1,449,754 (355,988)
Unrecognized net pension and postretirement benefit costs, net of tax (23,721,414) (26,995,214)
Accumulated other comprehensive loss (23,412,638) (26,532,756)
Total Shareholders' Equity 126,614,695 114,602,264
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 261,523,033 266,328,935
Voting Preferred Stock [Member]    
Accumulated other comprehensive loss:    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares 0 0
Nonvoting Preferred Stock [Member]    
Accumulated other comprehensive loss:    
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares $ 0 $ 0