text: The Company’s strategy is to provide a broad selection of products and a high level of service in the areas in which it competes. The Company focuses its 
  research and development efforts to improve current products and develop highly-engineered products that meet customer needs and have the potential 
  for broad market applications and significant sales. Proposed new products may be subject to regulatory clearance or approval prior to commercialization 
  and the time period for introducing a new product to the marketplace can be unpredictable. The Company is also focused on controlling costs. 
  The Company does this by investing in modern manufacturing technologies and controlling purchasing processes. Over the past three years, the Company 
  has continued to be faced with increasing costs associated with all lines of insurance, including group health benefits. The Company has been successful 
  in consistently generating cash from operations and uses that cash to reduce indebtedness, to fund capital expenditures, to repurchase stock and, starting 
  in 2003, to pay dividends. During 2003, the Company reduced debt by approximately $6.0 million. 
  
  The Company’s strategic objective is to further enhance its position in its served markets by: 
  
  • Focusing on customer needs 
  • Expanding existing product lines and developing new products 
  • Maintaining a culture of controlling cost 
  • Preserving and fostering a collaborative, entrepreneurial management structure 