CONSOLIDATED BALANCE SHEETS
9
AS OF DECEMBER 31,
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) 2003 2002
ASSETS:
Current Assets:
Cash and cash equivalents $ 298 $ 353
Accounts receivable, net of allowance for doubtful accounts of $103 and 
$151 in 2003 and 2002, respectively 6,226 6,721
Inventories 11,314 10,311
Prepaid expenses 1,894 2,273
Deferred income taxes 760 1,018
20,492 20,676
Property, Plant and Equipment 45,767 42,661
Less accumulated depreciation and amortization 21,578 18,211
24,189 24,450
Other Assets and Deferred Charges:
Patents, net of accumulated amortization of $7,151 and $6,847 in 2003 and 2002, respectively 2,099 2,403
Goodwill 9,730 9,730
Other 3,540 3,548
15,369 15,681
$ 60,050 $ 60,807
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Current Liabilities:
Accounts payable and accrued liabilities $ 6,038 $ 5,030
Accrued income and other taxes 651 859
6,689 5,889
Line of Credit 4,287 10,337
Other Liabilities and Deferred Credits:
Deferred income taxes 3,496 2,115
Other 974 775
4,470 2,890
Commitments and Contingencies — —
Stockholders’ Equity:
Common stock, par value $ .10 per share, authorized 10,000 shares, issued 3,420 shares 342 342
Additional paid-in capital 9,673 8,222
Retained earnings 68,900 64,249
Treasury shares, 1,720 shares in 2003 and 1,714 shares in 2002, at cost (34,311) (31,122)
44,604 41,691
$ 60,050 $ 60,807
The accompanying notes are an integral part of these statements.