Net sales in the third quarter were $8,995,825 this year, compared to $9,461,778 in the third quarter of 2013. The 4.9% decline was only the second quarter in which sales did not exceed the year earlier quarter, in over five years. As of September 30, 2014, year to date sales totaled $28,446,927, an improvement of $531,770, or 1.9%, compared with the first three quarters of 2013. Net income for the third quarter was $540,757, or $0.56 per share, compared with $820,205, or $0.85 per share, in the third quarter of 2013. Net income for the first three quarters of 2014 was $1,678,184, or $1.74 per share, compared with $1,911,950, or $1.98 per share, reported in 2013. Contributing to the less profitable results for the third quarter and the current year to date were the lower sales, a less favorable product mix and increases in certain overhead costs, as well as a reduction in gains from disposals of equipment.(…)
