Document And Entity Information
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Document And Entity Information
 6 Months Ended
Jun. 30, 2013
Aug. 01, 2013
Document And Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Jun. 30, 2013  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2013  
Entity Registrant Name NATIONAL PRESTO INDUSTRIES INC  
Entity Central Index Key 0000080172  
Current Fiscal Year End Date --12-31  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   6,898,251

Condensed Consolidated Balance Sheets
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Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 35,632 $ 37,437
Marketable securities 45,056 55,586
Accounts receivable, net 72,426 76,443
Inventories:    
Finished goods 46,653 33,851
Work in process 47,361 40,340
Raw materials 9,628 9,173
Total inventory 103,642 83,364
Deferred tax assets 8,906 8,906
Other current assets 12,462 9,018
Total current assets 278,124 270,754
PROPERTY, PLANT AND EQUIPMENT 136,805 123,418
Less allowance for depreciation 65,699 61,553
PROPERTY, PLANT AND EQUIPMENT, NET 71,106 61,865
GOODWILL & OTHER INTANGIBLES 17,389 17,722
NOTE RECEIVABLE 3,633 3,571
Total assets 370,252 353,912
CURRENT LIABILITIES:    
Accounts payable 41,404 39,077
Federal and state income taxes 12 1,642
Accrued liabilities 15,379 15,254
Total current liabilities 56,795 55,973
DEFERRED INCOME TAXES 7,357 7,368
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY    
Common stock, $1 par value: Authorized: 12,000,000 Issued: 7,440,518 7,441 7,441
Paid-in capital 4,739 4,472
Retained earnings 310,797 295,643
Accumulated other comprehensive income 33 53
Stockholders' Equity before Treasury Stock 323,010 307,609
Treasury stock, at cost 16,910 17,038
Total stockholders' equity 306,100 290,571
Total liabilities and stockholders' equity $ 370,252 $ 353,912

Condensed Consolidated Balance Sheets (Parenthetical)
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Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Consolidated Balance Sheets [Abstract]    
Common stock, par value $ 1 $ 1
Common stock, shares authorized 12,000,000 12,000,000
Common stock, shares issued 7,440,518 7,440,518

Consolidated Statements Of Comprehensive Income
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Consolidated Statements Of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jul. 01, 2012
Jun. 30, 2013
Jul. 01, 2012
Consolidated Statements Of Comprehensive Income [Abstract]        
Net sales $ 101,396 $ 117,114 $ 184,586 $ 213,887
Cost of sales 82,985 97,520 149,966 173,941
Gross profit 18,411 19,594 34,620 39,946
Selling and general expenses 5,592 6,268 11,443 12,130
Operating profit 12,819 13,326 23,177 27,816
Other income 147 237 355 498
Earnings before provision for income taxes 12,966 13,563 23,532 28,314
Income tax provision 4,665 4,860 8,377 10,267
Net earnings 8,301 8,703 15,155 18,047
Weighted average common shares outstanding:        
Basic and diluted 6,905 6,889 6,904 6,886
Net earnings per share:        
Basic and diluted $ 1.20 $ 1.26 $ 2.20 $ 2.62
Other comprehensive loss, net of tax:        
Unrealized loss on available-for-sale securities 28 18 20 14
Comprehensive income $ 8,273 $ 8,685 $ 15,135 $ 18,033
Cash dividends declared and paid per common share $ 0.00 $ 0.00 $ 0.00 $ 6.00

Consolidated Statements Of Cash Flows
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Consolidated Statements Of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2013
Jul. 01, 2012
Cash flows from operating activities:    
Net earnings $ 15,155,000 $ 18,047,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for depreciation 4,181,000 4,988,000
Intangibles amortization 333,000  
Provision for doubtful accounts 86,000 1,050,000
Other 293,000 470,000
Changes in:    
Accounts receivable 3,891,000 15,039,000
Inventories (20,278,000) 7,058,000
Other current assets (3,444,000) 151,000
Accounts payable and accrued liabilities 2,476,000 (8,170,000)
Federal and state income taxes (1,580,000) (1,668,000)
Net cash provided by operating activities 1,113,000 36,965,000
Cash flows from investing activities:    
Marketable securities purchased (6,151,000) (14,988,000)
Marketable securities - maturities and sales 16,650,000 10,255,000
Acquisition of property, plant and equipment (13,425,000) (6,843,000)
Notes issued   (3,500,000)
Sale of property, plant and equipment 8,000  
Acquisition of businesses, net of cash acquired   (246,000)
Net cash provided by (used in) investing activities (2,918,000) (15,322,000)
Cash flows from financing activities:    
Dividends paid   (41,292,000)
Other   357,000
Net cash used in financing activities   (40,935,000)
Net increase (decrease) in cash and cash equivalents (1,805,000) (19,292,000)
Cash and cash equivalents at beginning of period 37,437,000 73,995,000
Cash and cash equivalents at end of period $ 35,632,000 $ 54,703,000

Basis Of Presentation
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Basis Of Presentation
 6 Months Ended
Jun. 30, 2013
Basis Of Presentation [Abstract]  
Basis Of Presentation

NOTE A – BASIS OF PRESENTATION 

The consolidated interim financial statements included herein are unaudited and have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). In the opinion of management of the Company, the consolidated interim financial statements reflect all the adjustments which were of a normal recurring nature necessary for a fair presentation of the results of the interim periods.  The condensed consolidated balance sheet as of December 31, 2012 is summarized from consolidated financial statements, but does not include all the disclosures contained therein and should be read in conjunction with the 2012 Annual Report on Form 10-K.  Interim results for the period are not indicative of those for the year.


Reclassifications
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Reclassifications
 6 Months Ended
Jun. 30, 2013
Reclassifications [Abstract]  
Reclassifications

NOTE B – RECLASSIFICATIONS

Certain reclassifications have been made to the prior periods’ financial statements to conform to the current period’s financial statement presentation.  These reclassifications did not affect net earnings or stockholders’ equity as previously reported.


Earnings Per Share
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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE C – EARNINGS PER SHARE 

Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period.  Diluted earnings per share also includes the dilutive effect of additional potential common shares issuable.  Unvested stock awards, which contain non-forfeitable rights to dividends whether paid or unpaid (“participating securities”), are included in the number of shares outstanding for both basic and diluted earnings per share calculations.    


Business Segments
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Business Segments
 6 Months Ended
Jun. 30, 2013
Business Segments [Abstract]  
Business Segments

NOTE D – BUSINESS SEGMENTS 

In the following summary, operating profit represents earnings before other income, principally interest income and income taxes.  The Company's segments operate discretely from each other with no shared manufacturing facilities.  Costs associated with corporate activities (such as cash and marketable securities management) and the assets associated with such activities are included within the Housewares/Small Appliances segment for all periods presented.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

Housewares / Small Appliances

 

Defense Products

 

Absorbent Products

 

Total

Quarter ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
24,489 

 

$
58,516 

 

$
18,391 

 

$
101,396 

Gross profit

 

 
4,574 

 

 
13,468 

 

 
369 

 

 
18,411 

Operating profit

 

 
1,812 

 

 
11,108 

 

 
(101)

 

 
12,819 

Total assets

 

 
176,646 

 

 
132,073 

 

 
61,533 

 

 
370,252 

Depreciation and amortization

 

 
275 

 

 
540 

 

 
1,418 

 

 
2,233 

Capital expenditures

 

 
164 

 

 
4,715 

 

 
2,777 

 

 
7,656 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended July 1, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
23,371 

 

$
73,608 

 

$
20,135 

 

$
117,114 

Gross profit

 

 
4,135 

 

 
15,851 

 

 
(392)

 

 
19,594 

Operating profit

 

 
1,579 

 

 
13,816 

 

 
(2,069)

 

 
13,326 

Total assets

 

 
206,698 

 

 
105,526 

 

 
67,139 

 

 
379,363 

Depreciation

 

 
258 

 

 
796 

 

 
1,500 

 

 
2,554 

Capital expenditures

 

 
417 

 

 
180 

 

 
1,753 

 

 
2,350 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

Housewares/

 

 

 

 

 

 

 

 

 

 

 

 

Small

 

 

Defense

 

 

Absorbent

 

 

 

 

 

 

Appliances

 

 

Products

 

 

Products

 

 

Total

Six Months ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
49,378 

 

$
97,467 

 

$
37,741 

 

$
184,586 

Gross profit

 

 
9,031 

 

 
23,534 

 

 
2,055 

 

 
34,620 

Operating profit

 

 
3,370 

 

 
18,773 

 

 
1,034 

 

 
23,177 

Total assets

 

 
176,646 

 

 
132,073 

 

 
61,533 

 

 
370,252 

Depreciation and amortization

 

 
557 

 

 
1,221 

 

 
2,736 

 

 
4,514 

Capital expenditures

 

 
278 

 

 
6,298 

 

 
6,849 

 

 
13,425 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months ended July 1, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
48,063 

 

$
123,289 

 

$
42,535 

 

$
213,887 

Gross profit

 

 
8,832 

 

 
29,724 

 

 
1,390 

 

 
39,946 

Operating profit

 

 
3,314 

 

 
25,506 

 

 
(1,004)

 

 
27,816 

Total assets

 

 
206,698 

 

 
105,526 

 

 
67,139 

 

 
379,363 

Depreciation

 

 
524 

 

 
1,597 

 

 
2,867 

 

 
4,988 

Capital expenditures

 

 
665 

 

 
201 

 

 
5,977 

 

 
6,843 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Business Segments (Tables)
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Business Segments (Tables)
 6 Months Ended
Jun. 30, 2013
Business Segments [Abstract]  
Summary Of Business Segments Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

Housewares / Small Appliances

 

Defense Products

 

Absorbent Products

 

Total

Quarter ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
24,489 

 

$
58,516 

 

$
18,391 

 

$
101,396 

Gross profit

 

 
4,574 

 

 
13,468 

 

 
369 

 

 
18,411 

Operating profit

 

 
1,812 

 

 
11,108 

 

 
(101)

 

 
12,819 

Total assets

 

 
176,646 

 

 
132,073 

 

 
61,533 

 

 
370,252 

Depreciation and amortization

 

 
275 

 

 
540 

 

 
1,418 

 

 
2,233 

Capital expenditures

 

 
164 

 

 
4,715 

 

 
2,777 

 

 
7,656 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter ended July 1, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
23,371 

 

$
73,608 

 

$
20,135 

 

$
117,114 

Gross profit

 

 
4,135 

 

 
15,851 

 

 
(392)

 

 
19,594 

Operating profit

 

 
1,579 

 

 
13,816 

 

 
(2,069)

 

 
13,326 

Total assets

 

 
206,698 

 

 
105,526 

 

 
67,139 

 

 
379,363 

Depreciation

 

 
258 

 

 
796 

 

 
1,500 

 

 
2,554 

Capital expenditures

 

 
417 

 

 
180 

 

 
1,753 

 

 
2,350 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

 

 

 

 

Housewares/

 

 

 

 

 

 

 

 

 

 

 

 

Small

 

 

Defense

 

 

Absorbent

 

 

 

 

 

 

Appliances

 

 

Products

 

 

Products

 

 

Total

Six Months ended June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
49,378 

 

$
97,467 

 

$
37,741 

 

$
184,586 

Gross profit

 

 
9,031 

 

 
23,534 

 

 
2,055 

 

 
34,620 

Operating profit

 

 
3,370 

 

 
18,773 

 

 
1,034 

 

 
23,177 

Total assets

 

 
176,646 

 

 
132,073 

 

 
61,533 

 

 
370,252 

Depreciation and amortization

 

 
557 

 

 
1,221 

 

 
2,736 

 

 
4,514 

Capital expenditures

 

 
278 

 

 
6,298 

 

 
6,849 

 

 
13,425 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months ended July 1, 2012

 

 

 

 

 

 

 

 

 

 

 

 

External net sales

 

$
48,063 

 

$
123,289 

 

$
42,535 

 

$
213,887 

Gross profit

 

 
8,832 

 

 
29,724 

 

 
1,390 

 

 
39,946 

Operating profit

 

 
3,314 

 

 
25,506 

 

 
(1,004)

 

 
27,816 

Total assets

 

 
206,698 

 

 
105,526 

 

 
67,139 

 

 
379,363 

Depreciation

 

 
524 

 

 
1,597 

 

 
2,867 

 

 
4,988 

Capital expenditures

 

 
665 

 

 
201 

 

 
5,977 

 

 
6,843 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Business Segments (Schedule Of Segment Information) (Details)
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Business Segments (Schedule Of Segment Information) (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jul. 01, 2012
Jun. 30, 2013
Jul. 01, 2012
Dec. 31, 2012
Segment Reporting Information [Line Items]          
External net sales $ 101,396 $ 117,114 $ 184,586 $ 213,887  
Gross profit 18,411 19,594 34,620 39,946  
Operating profit 12,819 13,326 23,177 27,816  
Total assets 370,252 379,363 370,252 379,363 353,912
Depreciation and amortization 2,233 2,554 4,514 4,988  
Capital expenditures 7,656 2,350 13,425 6,843  
Housewares/ Small Appliances [Member]
          
Segment Reporting Information [Line Items]          
External net sales 24,489 23,371 49,378 48,063  
Gross profit 4,574 4,135 9,031 8,832  
Operating profit 1,812 1,579 3,370 3,314  
Total assets 176,646 206,698 176,646 206,698  
Depreciation and amortization 275 258 557 524  
Capital expenditures 164 417 278 665  
Defense Products [Member]
          
Segment Reporting Information [Line Items]          
External net sales 58,516 73,608 97,467 123,289  
Gross profit 13,468 15,851 23,534 29,724  
Operating profit 11,108 13,816 18,773 25,506  
Total assets 132,073 105,526 132,073 105,526  
Depreciation and amortization 540 796 1,221 1,597  
Capital expenditures 4,715 180 6,298 201  
Absorbent Products [Member]
          
Segment Reporting Information [Line Items]          
External net sales 18,391 20,135 37,741 42,535  
Gross profit 369 (392) 2,055 1,390  
Operating profit (101) (2,069) 1,034 (1,004)  
Total assets 61,533 67,139 61,533 67,139  
Depreciation and amortization 1,418 1,500 2,736 2,867  
Capital expenditures $ 2,777 $ 1,753 $ 6,849 $ 5,977  

Fair Value Of Financial Instruments
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Fair Value Of Financial Instruments
 6 Months Ended
Jun. 30, 2013
Fair Value Of Financial Instruments [Abstract]  
Fair Value Of Financial Instruments

NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company utilizes the methods of fair value as described in Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) 820, Fair Value Measurements and Disclosures, to value its financial assets and liabilities. ASC 820 utilizes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

The carrying amount for cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximates fair value due to the immediate or short-term maturity of these financial instruments.    


Cash, Cash Equivalents And Marketable Securities
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Cash, Cash Equivalents And Marketable Securities
 6 Months Ended
Jun. 30, 2013
Cash, Cash Equivalents And Marketable Securities [Abstract]  
Cash, Cash Equivalents And Marketable Securities

NOTE F - CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES 

The Company considers all highly liquid marketable securities with an original maturity of three months or less to be cash equivalents.  Cash equivalents include money market funds.  The Company deposits its cash in high quality financial institutions.  The balances, at times, may exceed federally insured limits.  Money market funds are reported at fair value determined using quoted prices in active markets for identical securities (Level 1, as defined by FASB ASC 820).

 

The Company has classified all marketable securities as available-for-sale which requires the securities to be reported at fair value, with unrealized gains and losses, net of tax, reported as a separate component of stockholders' equity.  Highly liquid, tax-exempt variable rate demand notes with put options exercisable in three months or less are classified as marketable securities.

 

At June 30, 2013 and December 31, 2012, cost for marketable securities was determined using the specific identification method.  A summary of the amortized costs and fair values of the Company’s marketable securities at the end of the periods presented is shown in the following table.  All of the Company’s marketable securities are classified as Level 2, as defined by FASB ASC 820, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.  There were no transfers into or out of Level 2 during the three months ended June  30, 2013.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

MARKETABLE SECURITIES

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,277 

 

$
24,328 

 

$
57 

 

$
6 

Variable Rate Demand Notes

 

 
20,728 

 

 
20,728 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
45,005 

 

$
45,056 

 

$
57 

 

$
6 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,412 

 

$
24,494 

 

$
94 

 

$
12 

Variable Rate Demand Notes

 

 
31,092 

 

 
31,092 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
55,504 

 

$
55,586 

 

$
94 

 

$
12 

 

 

Proceeds from maturities and sales of available-for-sale securities totaled $14,386,000 and $3,883,000 for the three month periods ended June 30, 2013 and July 1, 2012, and totaled $16,650,000 and  $10,255,000 for the six month periods then ended, respectively.  There were no gross gains or losses related to sales of marketable securities during the same periods.  Net unrealized losses included in other comprehensive income, were $43,000 and $27,000 before taxes for the three month periods ended June 30, 2013 and July 1, 2012, and were $31,000 and $22,000 before taxes for the six month periods then ended, respectively.  No unrealized gains or losses were reclassified out of accumulated other comprehensive income during the same periods.

 

The contractual maturities of the marketable securities held at June 30, 2013 are as follows: $9,519,000 within one year; $17,599,000 beyond one year to five years; $5,263,000 beyond five years to ten years, and $12,675,000 beyond ten years. All of the instruments in the beyond five year ranges are variable rate demand notes which can be tendered for cash at par plus interest within seven days.  Despite the stated contractual maturity date, to the extent a tender is not honored, the notes become immediately due and payable.


Cash, Cash Equivalents And Marketable Securities (Tables)
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Cash, Cash Equivalents And Marketable Securities (Tables)
 6 Months Ended
Jun. 30, 2013
Cash, Cash Equivalents And Marketable Securities [Abstract]  
Summary Of The Amortized Costs And Fair Values Of Marketable Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

 

MARKETABLE SECURITIES

 

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gains

 

Gross Unrealized Losses

June 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,277 

 

$
24,328 

 

$
57 

 

$
6 

Variable Rate Demand Notes

 

 
20,728 

 

 
20,728 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
45,005 

 

$
45,056 

 

$
57 

 

$
6 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt  Municipal Bonds

 

$
24,412 

 

$
24,494 

 

$
94 

 

$
12 

Variable Rate Demand Notes

 

 
31,092 

 

 
31,092 

 

 

 -

 

 

 -

Total Marketable Securities

 

$
55,504 

 

$
55,586 

 

$
94 

 

$
12 

 


Cash, Cash Equivalents And Marketable Securities (Narrative) (Details)
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Cash, Cash Equivalents And Marketable Securities (Narrative) (Details) (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jul. 01, 2012
Jun. 30, 2013
Jul. 01, 2012
Transfers into Level 2 $ 0   $ 0  
Transfers out of Level 2 0   0  
Proceeds from sales of available-for-sale securities 14,386,000 3,883,000 16,650,000 10,255,000
Gross gains or losses related to sales of marketable securities 0 0 0 0
Net unrealized losses included in accumulated other comprehensive income, before taxes 43,000 27,000 31,000 22,000
Contractual maturities of marketable securities within 1 year 9,519,000   9,519,000  
Contractual maturities of marketable securities, years 2-5 17,599,000   17,599,000  
Contractual maturities of marketable securities, years 6-10 5,263,000   5,263,000  
Contractual maturities of marketable securities, after 10 years 12,675,000   12,675,000  
Marketable securities liquidation period     7 days  
Accumulated Net Unrealized Investment Gain (Loss) [Member]
        
Reclassification out of AOCI $ 0 $ 0 $ 0 $ 0

Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details)
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Cash, Cash Equivalents And Marketable Securities (Summary Of The Amortized Costs And Fair Values Of Marketable Securities) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost $ 45,005 $ 55,504
MARKETABLE SECURITIES, Fair Value 45,056 55,586
MARKETABLE SECURITIES, Gross Unrealized Gains 57 94
MARKETABLE SECURITIES, Gross Unrealized Losses 6 12
Tax-Exempt Municipal Bonds [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 24,277 24,412
MARKETABLE SECURITIES, Fair Value 24,328 24,494
MARKETABLE SECURITIES, Gross Unrealized Gains 57 94
MARKETABLE SECURITIES, Gross Unrealized Losses 6 12
Variable Rate Demand Notes [Member]
    
Schedule of Available-for-sale Securities [Line Items]    
MARKETABLE SECURITIES, Amortized Cost 20,728 31,092
MARKETABLE SECURITIES, Fair Value $ 20,728 $ 31,092

Commitments And Contingencies
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Commitments And Contingencies
 6 Months Ended
Jun. 30, 2013
Commitments And Contingencies [Abstract]  
Commitments And Contingencies

NOTE G – COMMITMENTS AND CONTINGENCIES

The Company is involved in largely routine litigation incidental to its business.  Management believes the ultimate outcome of the litigation will not have a material effect on the Company's consolidated financial position, liquidity, or results of operations.


Subsequent Event
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Subsequent Event
 6 Months Ended
Jun. 30, 2013
Subsequent Event [Abstract]  
Subsequent Event

NOTE H – SUBSEQUENT EVENT

On July 1, 2013, AMTEC Corporation, a wholly-owned subsidiary of the Company, entered into an agreement for the purchase of substantially all of the assets of DSE, Inc. (“DSE”).  DSE is a defense contractor that manufactures and sells 40MM ammunitions to the U.S. Government.  The closing of the agreement is conditioned upon the U.S. Government, DSE, and the Company agreeing to the novation of DSE’s contract with the Government to the Company.