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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUE:      
Total revenue $ 616,619 $ 553,525 $ 428,867
COST OF SALES 127,896 114,991 85,478
Gross margin 488,723 438,534 343,389
OPERATING EXPENSES:      
Research and development 117,062 99,673 83,894
Selling, general and administrative 77,886 80,372 61,346
Amortization of acquired technology and other intangible assets 17,459 21,994 21,969
Patent costs 8,329 8,160 7,529
Royalty and license expense 877 691 11,125
Total operating expenses 221,613 210,890 185,863
OPERATING INCOME 267,110 227,644 157,526
Interest income, net 7,811 505 5,139
Other (loss) income, net (6,691) 98 864
Interest and other income, net 1,120 603 6,003
INCOME BEFORE INCOME TAXES 268,230 228,247 163,529
INCOME TAX EXPENSE (58,169) (44,034) (30,157)
NET INCOME $ 210,061 $ 184,213 $ 133,372
NET INCOME PER COMMON SHARE:      
BASIC $ 4.41 $ 3.87 $ 2.80
DILUTED $ 4.40 $ 3.87 $ 2.80
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:      
BASIC 47,390,352 47,296,447 47,198,982
DILUTED 47,468,507 47,365,435 47,236,994
CASH DIVIDEND DECLARED PER COMMON SHARE $ 1.20 $ 0.80 $ 0.60
Material sales      
REVENUE:      
Total revenue $ 331,081 $ 318,623 $ 229,749
Royalty and license fees      
REVENUE:      
Total revenue 267,115 219,032 185,054
Contract research services      
REVENUE:      
Total revenue $ 18,423 $ 15,870 $ 14,064