National Presto Industries (NPK) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 29, 2024	Nov. 08, 2024
Document Information [Line Items]
Entity Central Index Key	0000080172
Entity Registrant Name	NATIONAL PRESTO INDUSTRIES INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2024
Document Transition Report	false
Entity File Number	1-2451
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0494170
Entity Address, Address Line One	3925 North Hastings Way
Entity Address, City or Town	Eau Claire
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54703-3703
City Area Code	715
Local Phone Number	839-2121
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	NPK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,100,354

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 16,329	$ 87,657
Marketable securities	16,888	26,454
Accounts receivable, net	46,854	48,727
Inventories:
Finished goods	40,285	31,815
Work in process	204,838	144,684
Raw materials	18,495	13,921
Inventory, net	263,618	190,420
Notes receivable, current	1,431	1,629
Other current assets	3,852	5,223
Total current assets	348,972	360,110
PROPERTY, PLANT AND EQUIPMENT	110,873	107,010
Less allowance for depreciation	70,509	67,774
Property, plant and equipment, net	40,364	39,236
GOODWILL	19,433	19,433
INTANGIBLE ASSETS, net	4,155	5,290
RIGHT-OF-USE LEASE ASSETS	10,187	10,664
DEFERRED INCOME TAXES	5,791	5,803
Assets	428,902	440,536
CURRENT LIABILITIES:
Accounts payable	39,567	38,232
Federal and state income taxes	1,323	2,539
Lease liabilities	625	678
Accrued liabilities	28,974	30,570
Total current liabilities	70,489	72,019
LEASE LIABILITIES - NON-CURRENT	9,562	9,986
FEDERAL AND STATE INCOME TAXES - NON-CURRENT	2,275	2,275
Total liabilities	82,326	84,280
STOCKHOLDERS' EQUITY
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares (	7,441	7,441
Paid-in capital	17,010	16,031
Retained earnings	332,944	344,245
Accumulated other comprehensive income	67	22
Stockholders' Equity before Treasury Stock	357,462	367,739
Treasury stock, at cost	10,886	11,483
Total stockholders' equity	346,576	356,256
Liabilities and Equity	$ 428,902	$ 440,536

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 29, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	12,000,000	12,000,000
Common stock, issued (in shares)	7,440,518	7,440,518

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Net sales	$ 91,823	$ 83,141	$ 253,536	$ 242,496
Cost of sales	74,600	67,742	207,761	195,697
Gross profit	17,223	15,399	45,775	46,799
Selling and general expenses	7,621	7,904	22,777	23,804
Intangibles amortization	379	427	1,137	1,257
Operating profit	9,223	7,068	21,861	21,738
Other income	1,150	1,775	4,710	5,502
Earnings before provision for income taxes	10,373	8,843	26,571	27,240
Provision for income taxes	2,290	1,824	5,843	5,840
Net earnings	$ 8,083	$ 7,019	$ 20,728	$ 21,400
Weighted average shares outstanding:
Basic and diluted (in shares)	7,131	7,108	7,126	7,104
Net Earnings per share:
Basic and diluted (in dollars per share)	$ 1.13	$ 0.99	$ 2.91	$ 3.01
Comprehensive income:
Net earnings	$ 8,083	$ 7,019	$ 20,728	$ 21,400
Other comprehensive income, net of tax:
Unrealized gain on available-for-sale securities, net of tax	52	20	45	28
Comprehensive income	$ 8,135	$ 7,039	$ 20,773	$ 21,428
Cash dividends declared and paid per common share (in dollars per share)	$ 0	$ 0	$ 4.5	$ 4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Cash flows from operating activities:
Net earnings	$ 20,728,000	$ 21,400,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Provision for depreciation	2,740,000	2,887,000
Intangibles amortization	1,137,000	1,257,000
Benefit from doubtful accounts	(285,000)	0
Non-cash retirement plan expense	695,000	672,000
Proceeds from insurance claim	0	527,000
Other	442,000	628,000
Changes in operating accounts:
Accounts receivable, net	2,158,000	22,317,000
Inventories	(73,198,000)	(31,756,000)
Other assets and current assets	1,371,000	1,335,000
Accounts payable and accrued liabilities	2,014,000	10,123,000
Federal and state income taxes	(3,595,000)	(600,000)
Net cash provided by (used in) operating activities	(45,793,000)	28,790,000
Cash flows from investing activities:
Marketable securities purchased	(5,432,000)	(42,195,000)
Marketable securities - maturities and sales	15,056,000	42,127,000
Proceeds from note receivable	230,000	627,000
Purchase of property, plant and equipment	(3,873,000)	(1,693,000)
Net provided by (used in) investing activities	5,981,000	(1,134,000)
Proceeds from line of credit	8,000,000	0
Payments on line of credit	(8,000,000)	0
Dividends paid	(32,029,000)	(28,385,000)
Proceeds from sale of treasury stock	513,000	429,000
Net cash used in financing activities	(31,516,000)	(27,956,000)
Net decrease in cash and cash equivalents	(71,328,000)	(300,000)
Cash and cash equivalents at beginning of period	87,657,000	70,711,000
Cash and cash equivalents at end of period	16,329,000	70,411,000
Supplemental disclosures of cash flow information:
Interest	$ 2,000	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Balance July 2, 2023 (in shares) at Dec. 31, 2022	7,063
Balance July 2, 2023 at Dec. 31, 2022	$ 7,441	$ 14,798	$ 338,072	$ (103)	$ (12,156)	$ 348,052
Net earnings			21,400			21,400
Unrealized gain on available-for-sale securities, net of tax				28		28
Other (in shares)	19
Other		990	0		597	1,587
Unrealized gain on available-for-sale securities, net of tax				28		28
Dividends paid			(28,385)			(28,385)
Balance (in shares) at Oct. 01, 2023	7,082
Balance at Oct. 01, 2023	$ 7,441	15,788	331,087	(75)	(11,559)	342,682
Balance July 2, 2023 (in shares) at Jul. 01, 2023	7,079
Balance July 2, 2023 at Jul. 01, 2023	$ 7,441	15,540	324,068	(95)	(11,658)	335,296
Net earnings			7,019			7,019
Unrealized gain on available-for-sale securities, net of tax				20		20
Other (in shares)	3
Other		248	0		99	347
Unrealized gain on available-for-sale securities, net of tax				20		20
Balance (in shares) at Oct. 01, 2023	7,082
Balance at Oct. 01, 2023	$ 7,441	15,788	331,087	(75)	(11,559)	342,682
Balance July 2, 2023 (in shares) at Dec. 31, 2023	7,082
Balance July 2, 2023 at Dec. 31, 2023	$ 7,441	16,031	344,245	22	(11,483)	356,256
Net earnings			20,728			20,728
Unrealized gain on available-for-sale securities, net of tax				45		45
Other (in shares)	18
Other		979	0		597	1,576
Unrealized gain on available-for-sale securities, net of tax				45		45
Dividends paid			(32,029)			(32,029)
Balance (in shares) at Sep. 29, 2024	7,100
Balance at Sep. 29, 2024	$ 7,441	17,010	332,944	67	(10,886)	346,576
Balance July 2, 2023 (in shares) at Jun. 30, 2024	7,100
Balance July 2, 2023 at Jun. 30, 2024	$ 7,441	16,755	324,861	14	(10,986)	338,085
Net earnings			8,083			8,083
Unrealized gain on available-for-sale securities, net of tax				52		52
Other (in shares)	0
Other		255	0		100	356
Unrealized gain on available-for-sale securities, net of tax				52		52
Balance (in shares) at Sep. 29, 2024	7,100
Balance at Sep. 29, 2024	$ 7,441	$ 17,010	$ 332,944	$ 67	$ (10,886)	$ 346,576

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Regular dividends per share (in dollars per share)	$ 1	$ 1
Extra dividends per share (in dollars per share)	$ 3.5	$ 3

Note A - Basis of Presentation

Note A - Basis of Presentation	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE A – BASIS OF PRESENTATION The condensed 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 of 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, 2023 not 2023 10 not

Note B - Revenues

Note B - Revenues	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE B – REVENUES The Company’s revenues are derived from short-term contracts and programs that are typically completed within 3 to 36 months and are recognized in accordance with Financial Accounting Standard Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 606, Revenue from Contracts with Customers one  The Company's contracts in the Defense segment are primarily with the U.S. Department of Defense (DOD) and DOD prime contractors. As a consequence, this segment's business essentially depends on the product needs and governmental funding of the DOD. Substantially all of the work performed by the Defense segment directly or indirectly for the DOD is performed on a fixed-price basis. Under fixed-price contracts, the price paid to the contractor is usually awarded based on competition at the outset of the contract and therefore, with the exception of limited escalation provisions on specific materials, is generally not  For the Housewares/Small Appliance segment, revenue is generally recognized as the completed, ordered product is shipped to the customer from the Company’s warehouses. For the relatively few situations in which revenue should be recognized when product is received by the customer, the Company adjusts revenue accordingly. For the Defense segment, revenue is primarily recognized when the customer has legal title and formally documents that it has accepted the products. In some situations, the customer may one four not no may The timing of revenue recognition, billings, and cash collections results in billed accounts receivable, and customer advances and deposits (contract liabilities) on the Company’s Condensed Consolidated Balance Sheets. For the Defense segment, the Company occasionally receives advances or deposits from certain customers before revenue is recognized, resulting in contract liabilities. These advances or deposits do not September 29, 2024 December 31, 2023 nine September 29, 2024 three nine October 1, 2023, no three nine September 29, 2024 September 29, 2024 December 31, 2023 one  The Company’s principal sources of revenue are derived from three 

Note C - Earnings Per Share

Note C - Earnings Per Share	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	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.

Note D - Business Segments

Note D - Business Segments	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE D – BUSINESS SEGMENTS In the following summary, operating profit represents earnings before other income and income taxes. The Company's segments operate discretely from each other with no (in thousands) Housewares / Small Appliances Defense Safety Total Three months ended September 29, 2024 External net sales $ 24,816 $ 66,794 $ 213 $ 91,823 Gross profit (loss) 4,997 13,447 (1,221 ) 17,223 Operating profit (loss) 1,760 9,812 (2,349 ) 9,223 Total assets 118,773 303,614 6,515 428,902 Depreciation and amortization 239 912 41 1,192 Capital expenditures 35 2,765 26 2,826 Three months ended October 1, 2023 External net sales $ 21,545 $ 61,311 $ 285 $ 83,141 Gross profit (loss) 3,920 12,740 (1,261 ) 15,399 Operating profit (loss) 760 9,085 (2,777 ) 7,068 Total assets 182,220 225,636 8,112 415,968 Depreciation and amortization 262 842 89 1,193 Capital expenditures 216 554 97 867 (in thousands) Housewares / Small Appliances Defense Safety Total Nine Months Ended September 29, 2024 External net sales $ 64,750 $ 187,960 $ 826 $ 253,536 Gross profit (loss) 11,566 38,150 (3,941 ) 45,775 Operating profit (loss) 2,366 27,165 (7,670 ) 21,861 Total assets 118,773 303,614 6,515 428,902 Depreciation and amortization 1,490 2,267 120 3,877 Capital expenditures 114 3,710 49 3,873 Nine Months Ended October 1, 2023 External net sales $ 61,533 $ 179,874 1,089 $ 242,496 Gross profit (loss) 12,814 36,992 (3,007 ) 46,799 Operating profit (loss) 2,957 26,720 (7,939 ) 21,738 Total assets 182,220 225,636 8,112 415,968 Depreciation and amortization 769 3,060 315 4,144 Capital expenditures 444 1,074 175 1,693

Note E - Fair Value of Financia

Note E - Fair Value of Financial Instruments	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company utilizes the methods of fair value as described in FASB ASC 820, Fair Value Measurements and Disclosures, 820 three 1, 2, 3, no  The carrying amounts for cash and cash equivalents, accounts receivable, notes receivable, accounts payable, and accrued liabilities approximate fair value due to the immediate or short-term maturity of these financial instruments. See Note F for fair value information on marketable securities. 

Note F - Cash, Cash Equivalents

Note F - Cash, Cash Equivalents And Marketable Securities	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	NOTE F - CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES The Company considers all highly liquid marketable securities with an original maturity of three may 1, 820  The Company has classified all marketable securities as available-for-sale which requires the securities to be reported at estimated 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  At September 29, 2024 December 31, 2023 2, 820, not  (In Thousands) MARKETABLE SECURITIES Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses September 29, 2024 Certificates of Deposit $ 9,942 10,011 $ 69 $ - Variable Rate Demand Notes 4,292 4,292 - - Other Fixed Rate Securities 2,569 2,585 15 - Total Marketable Securities $ 16,803 $ 16,888 $ 84 $ - December 31, 2023 Certificates of Deposit 21,305 21,331 58 31 Variable Rate Demand Notes 5,123 5,123 - - Total Marketable Securities $ 26,428 $ 26,454 $ 58 $ 31  Proceeds from maturities and sales of available-for-sale securities totaled $4,107,000 and $3,961,000 for the three September 29, 2024 October 1, 2023 nine three September 29, 2024 October 1, 2023 nine  The contractual maturities of the marketable securities held at September 29, 2024 one one five five ten five seven not

Note G - Other Assets

Note G - Other Assets	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Other Assets Disclosure [Text Block]	NOTE G – OTHER ASSETS Other Assets includes prepayments and deposits that are made from time to time by the Company for certain materials used in the manufacturing process in the Housewares/Small Appliances segment. The Company expects to utilize the prepayments and related materials during the current year. As of September 29, 2024 December 31, 2023 twelve 

Note H - Leases

Note H - Leases	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE H – LEASES The Company accounts for leases under ASC Topic 842, one  The Company’s leases as lessee in its Defense segment provide for variable lease payments that are based on changes in the Consumer Price Index. As lessor, the Company’s primary lease also provides for variable lease payments that are based on changes in the Consumer Price Index, as well as on increases in costs of insurance, real estate taxes, and utilities related to the leased space. Generally, all of the Company’s lease contracts include options for extensions and early terminations. The majority of lease terms of the Company’s lease contracts recognized on the balance sheet reflect extension options, while none  The Company has determined that the rates implicit in its leases are not 12 Topic 842 Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Summary of Lease Cost (in thousands) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Operating lease cost $ 305 $ 302 $ 915 $ 893 Short-term and variable lease cost 68 37 207 155 Total lease cost $ 373 $ 339 $ 1,122 $ 1,048 Operating cash used for operating leases was $373,000 and $339,000 for the three September 29, 2024 October 1, 2023 nine September 29, 2024 October 1, 2023 September 29, 2024  Maturities of operating lease liabilities are as follows: Years ending December 31: (In thousands) 2024 (remaining three months) $ 255 2025 902 2026 813 2027 808 2028 814 Thereafter 12,861 Total lease payments $ 16,453 Less: future interest expense 6,266 Lease liabilities $ 10,187   Lease income from operating lease payments was $569,000 and $551,000 for the quarters ended September 29, 2024 October 1, 2023 nine  Years ending December 31: (In thousands) 2024 (remaining three months) $ 569 2025 2,257 2026 2,257 2027 2,257 2028 2,257 Thereafter 15,799 Total lease payments $ 25,396  The Company considers risk associated with the residual value of its leased real property to be low, given the nature of the long-term lease agreement, the Company’s ability to control the maintenance of the property, and the creditworthiness of the lessee. The residual value risk is further mitigated by the long-lived nature of the property, and the propensity of such assets to hold their value or, in some cases, appreciate in value.

Note I - Commitments and Contin

Note I - Commitments and Contingencies	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE I – 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 

Note J - Line of Credit

Note J - Line of Credit	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE J – LINE OF CREDIT The Company has maintained an unsecured line of credit for short term operating cash needs of $10,000,000 and $5,000,000 as of September 29, 2024 December 31, 2023 September 29, 2024 December 31, 2023 September 30, 2025. 30 one

Note K - Recently Issued or Ado

Note K - Recently Issued or Adopted Accounting Pronouncements	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE K – RECENTLY ISSUED OR ADOPTED ACCOUNTING PRONOUNCEMENTS The Company assesses the impacts of adopting recently issued accounting standards by the Financial Accounting Standards Board on the Company's financial statements, and updates previous assessments, as necessary, from the Company's Quarterly Report on Form 10 June 30, 2024. In December 2023, 2023 09, Income Taxes (Topic 740 2023 09 December 15, 2024. not 2023 09 In November 2023, No. 2023 07, Segment Reporting (Topic 280 280 2023 07 December 15, 2023, December 15, 2024,

Note L - Subsequent Event

Note L - Subsequent Event	9 Months Ended
	Sep. 29, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE L - SUBSEQUENT EVENT The Company has evaluated subsequent events through the filing of this Form 10 no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 29, 2024	Sep. 29, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. Insider Trading Arrangement No 16a 1 10b5 1 10b5 1 408, September 29, 2024
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note D - Business Segments (Tab

Note D - Business Segments (Tables)	9 Months Ended
	Sep. 29, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(in thousands) Housewares / Small Appliances Defense Safety Total Three months ended September 29, 2024 External net sales $ 24,816 $ 66,794 $ 213 $ 91,823 Gross profit (loss) 4,997 13,447 (1,221 ) 17,223 Operating profit (loss) 1,760 9,812 (2,349 ) 9,223 Total assets 118,773 303,614 6,515 428,902 Depreciation and amortization 239 912 41 1,192 Capital expenditures 35 2,765 26 2,826 Three months ended October 1, 2023 External net sales $ 21,545 $ 61,311 $ 285 $ 83,141 Gross profit (loss) 3,920 12,740 (1,261 ) 15,399 Operating profit (loss) 760 9,085 (2,777 ) 7,068 Total assets 182,220 225,636 8,112 415,968 Depreciation and amortization 262 842 89 1,193 Capital expenditures 216 554 97 867 (in thousands) Housewares / Small Appliances Defense Safety Total Nine Months Ended September 29, 2024 External net sales $ 64,750 $ 187,960 $ 826 $ 253,536 Gross profit (loss) 11,566 38,150 (3,941 ) 45,775 Operating profit (loss) 2,366 27,165 (7,670 ) 21,861 Total assets 118,773 303,614 6,515 428,902 Depreciation and amortization 1,490 2,267 120 3,877 Capital expenditures 114 3,710 49 3,873 Nine Months Ended October 1, 2023 External net sales $ 61,533 $ 179,874 1,089 $ 242,496 Gross profit (loss) 12,814 36,992 (3,007 ) 46,799 Operating profit (loss) 2,957 26,720 (7,939 ) 21,738 Total assets 182,220 225,636 8,112 415,968 Depreciation and amortization 769 3,060 315 4,144 Capital expenditures 444 1,074 175 1,693

Note F - Cash, Cash Equivalen_2

Note F - Cash, Cash Equivalents And Marketable Securities (Tables)	9 Months Ended
	Sep. 29, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	(In Thousands) MARKETABLE SECURITIES Amortized Cost Fair Value Gross Unrealized Gains Gross Unrealized Losses September 29, 2024 Certificates of Deposit $ 9,942 10,011 $ 69 $ - Variable Rate Demand Notes 4,292 4,292 - - Other Fixed Rate Securities 2,569 2,585 15 - Total Marketable Securities $ 16,803 $ 16,888 $ 84 $ - December 31, 2023 Certificates of Deposit 21,305 21,331 58 31 Variable Rate Demand Notes 5,123 5,123 - - Total Marketable Securities $ 26,428 $ 26,454 $ 58 $ 31

Note H - Leases (Tables)

Note H - Leases (Tables)	9 Months Ended
	Sep. 29, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended Summary of Lease Cost (in thousands) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Operating lease cost $ 305 $ 302 $ 915 $ 893 Short-term and variable lease cost 68 37 207 155 Total lease cost $ 373 $ 339 $ 1,122 $ 1,048
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31: (In thousands) 2024 (remaining three months) $ 255 2025 902 2026 813 2027 808 2028 814 Thereafter 12,861 Total lease payments $ 16,453 Less: future interest expense 6,266 Lease liabilities $ 10,187
Operating Lease, Lease Income [Table Text Block]	Years ending December 31: (In thousands) 2024 (remaining three months) $ 569 2025 2,257 2026 2,257 2027 2,257 2028 2,257 Thereafter 15,799 Total lease payments $ 25,396

Note B - Revenues 1 (Details Te

Note B - Revenues 1 (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 29, 2024 USD ($)	Oct. 01, 2023 USD ($)	Sep. 29, 2024 USD ($)	Oct. 01, 2023 USD ($)	Dec. 31, 2023 USD ($)
Number of Operating Segments			3
Defense [Member]
Contract with Customer, Liability, Current	$ 15,353,000		$ 15,353,000		$ 13,666,000
Contract with Customer, Liability, Revenue Recognized			6,463,000
Contract with Customer, Performance Obligation Satisfied in Previous Period	0	$ 775,000	0	$ 775,000
Revenue, Remaining Performance Obligation, Amount	$ 1,129,031,000		$ 1,129,031,000		$ 564,005,000
Minimum [Member]
Revenue Contract Period (Month)			3 months
Maximum [Member]
Revenue Contract Period (Month)			36 months

Note B - Revenues 2 (Details Te

Note B - Revenues 2 (Details Textual) - Defense [Member] - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29	Sep. 29, 2024
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	18 months
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	36 months

Note D - Business Segments - Se

Note D - Business Segments - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023	Dec. 31, 2023
External net sales	$ 91,823	$ 83,141	$ 253,536	$ 242,496
Gross profit (loss)	17,223	15,399	45,775	46,799
Operating profit (loss)	9,223	7,068	21,861	21,738
Total assets	428,902	415,968	428,902	415,968	$ 440,536
Depreciation and amortization	1,192	1,193	3,877	4,144
Capital expenditures	2,826	867	3,873	1,693
Housewares/Small Appliances [Member] | Operating Segments [Member]
External net sales	24,816	21,545	64,750	61,533
Gross profit (loss)	4,997	3,920	11,566	12,814
Operating profit (loss)	1,760	760	2,366	2,957
Total assets	118,773	182,220	118,773	182,220
Depreciation and amortization	239	262	1,490	769
Capital expenditures	35	216	114	444
Defense [Member] | Operating Segments [Member]
External net sales	66,794	61,311	187,960	179,874
Gross profit (loss)	13,447	12,740	38,150	36,992
Operating profit (loss)	9,812	9,085	27,165	26,720
Total assets	303,614	225,636	303,614	225,636
Depreciation and amortization	912	842	2,267	3,060
Capital expenditures	2,765	554	3,710	1,074
Safety [Member] | Operating Segments [Member]
External net sales	213	285	826	1,089
Gross profit (loss)	(1,221)	(1,261)	(3,941)	(3,007)
Operating profit (loss)	(2,349)	(2,777)	(7,670)	(7,939)
Total assets	6,515	8,112	6,515	8,112
Depreciation and amortization	41	89	120	315
Capital expenditures	$ 26	$ 97	$ 49	$ 175

Note F - Cash, Cash Equivalen_3

Note F - Cash, Cash Equivalents And Marketable Securities (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale	$ 4,107,000		$ 3,961,000	$ 15,056,000	$ 42,127,000
Debt Securities, Available-for-Sale, Realized Gain (Loss)		$ 0	0	0	0
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment and Tax	66,000		25,000	(57,000)	35,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value	9,537,000			9,537,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value	5,054,000			5,054,000
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after 5 through 10 Years, Fair Value	2,212,000			2,212,000
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	$ 0		$ 0	$ 0	$ 0

Note F - Cash, Cash Equivalen_4

Note F - Cash, Cash Equivalents And Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Amortized Cost	$ 16,803	$ 26,428
Fair Value	16,888	26,454
Gross Unrealized Gains	84	58
Gross Unrealized Losses	0	31
Certificates of Deposit [Member]
Amortized Cost	9,942	21,305
Fair Value	10,011	21,331
Gross Unrealized Gains	69	58
Gross Unrealized Losses	0	31
Variable Rate Demand Obligation [Member]
Amortized Cost	4,292	5,123
Fair Value	4,292	5,123
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	$ 0
Other Fixed Rate Securities [Member]
Amortized Cost	2,569
Fair Value	2,585
Gross Unrealized Gains	15
Gross Unrealized Losses	$ 0

Note G - Other Assets (Details

Note G - Other Assets (Details Textual) - USD ($)	Sep. 29, 2024	Dec. 31, 2023
Housewares/Small Appliances [Member]
Materials, Supplies, and Other	$ 3,411,000	$ 5,018,000

Note H - Leases (Details Textua

Note H - Leases (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Operating Lease, Payments	$ 373,000	$ 339,000	$ 1,122,000	$ 1,048,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	19 years 1 month 6 days		19 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.70%		4.70%
Operating Lease, Lease Income, Lease Payments	$ 569,000	$ 551,000	$ 1,689,000	$ 1,653,000

Note H - Leases - Lease Cost (D

Note H - Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Operating lease cost	$ 305	$ 302	$ 915	$ 893
Short-term and variable lease cost	68	37	207	155
Total lease cost	$ 373	$ 339	$ 1,122	$ 1,048

Note H - Leases - Lease Maturit

Note H - Leases - Lease Maturities (Details) $ in Thousands	Sep. 29, 2024 USD ($)
2024 (remaining three months)	$ 255
2025	902
2026	813
2027	808
2028	814
Thereafter	12,861
Total lease payments	16,453
Less: future interest expense	6,266
Lease liabilities	$ 10,187

Note H - Leases - Operating Lea

Note H - Leases - Operating Lease Income (Details) $ in Thousands	Sep. 29, 2024 USD ($)
2024 (remaining three months)	$ 569
2025	2,257
2026	2,257
2027	2,257
2028	2,257
Thereafter	15,799
Total lease payments	$ 25,396

Note J - Line of Credit (Detail

Note J - Line of Credit (Details Textual) - Domestic Line of Credit [Member] - USD ($)	Sep. 29, 2024	Dec. 31, 2023
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000	$ 5,000,000
Long-Term Line of Credit	$ 0	$ 0