|
|
Fiscal
year ended
|
|
|
October
29
1999
|
|
October
30
1998
|
|
October
31
1997
|
| Cash
flows from operating activities: |
|
|
|
|
|
|
| Net
income |
|
$10,024,505 |
|
$8,720,430 |
|
$6,605,354 |
Income
charges not affecting cash: |
|
|
|
|
|
|
| Depreciation |
|
3,292,346 |
|
2,938,475 |
|
2,950,376 |
| Provision
for losses on accounts receivable |
|
221,650 |
|
254,150 |
|
149,150 |
| Gain
on sale of assets |
|
(705,288) |
|
(81,941) |
|
(50,129) |
| |
| Changes
in assets and liabilities: |
|
|
|
|
|
|
| Accounts
receivable |
|
(1,838,295) |
|
(952,705) |
|
(1,516,171) |
| Inventories |
|
(2,083,020) |
|
1,489,852 |
|
47,162 |
| Prepaid
expenses |
|
(35,044) |
|
(96,101) |
|
206,099 |
| Deferred
income tax benefits |
|
(1,061,135) |
|
(859,636) |
|
(210,152) |
| Other
non-current assets |
|
(564,449) |
|
(726,540) |
|
(1,028,297) |
| Accounts
payable and accrued expenses |
|
891,605 |
|
446,768 |
|
1,758,848 |
| Income
taxes payable |
|
(722,615) |
|
1,406,268 |
|
70,539 |
| Non-current
liabilities |
|
2,214,928 |
|
2,039,547 |
|
1,206,466 |
|
|
|
|
|
|
|
| Net
cash provided by operating activities |
|
9,635,188 |
|
14,578,567 |
|
10,189,145 |
|
|
|
|
|
|
|
| |
| Cash
used in investing activities: |
|
|
|
|
|
|
| Proceeds
from sale of assets |
|
747,334 |
|
84,941 |
|
50,129 |
| Additions
to property, plant and equipment |
|
(4,901,936) |
|
(2,285,335) |
|
(1,949,100) |
|
|
|
|
|
|
|
| Net
cash used in investing activities |
|
(4,154,602) |
|
(2,200,394) |
|
(1,898,971) |
|
|
|
|
|
|
|
| |
| Cash
used in financing activities: |
|
|
|
|
|
|
| Cash
dividends paid |
|
(2,731,888) |
|
(2,483,964) |
|
(2,255,264) |
|
|
|
|
|
|
|
| Net
increase (decrease) in cash and cash equivalents |
|
2,748,698 |
|
9,894,209 |
|
6,034,910 |
| |
| Cash
and cash equivalents at beginning of year |
|
22,272,141
|
|
12,377,932
|
|
6,343,022
|
| |
| Cash
and cash equivalents at end of year |
|
$25,020,839
|
|
$22,272,141
|
|
$12,377,932
|
| |
| Cash
paid for income taxes |
|
$7,837,000
|
|
$4,891,000
|
|
$4,022,000
|
|
(Page 7)