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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE:      
Total revenue $ 576,429 $ 616,619 $ 553,525
COST OF SALES 135,376 127,896 114,991
Gross margin 441,053 488,723 438,534
OPERATING EXPENSES:      
Research and development 130,481 117,062 99,673
Selling, general and administrative 67,387 77,886 80,372
Amortization of acquired technology and other intangible assets 15,993 17,459 21,994
Patent costs 9,356 8,329 8,160
Royalty and license expense 647 877 691
Total operating expenses 223,864 221,613 210,890
OPERATING INCOME 217,189 267,110 227,644
Interest income, net 28,166 7,811 505
Other (loss) income, net (184) (6,691) 98
Interest and other income, net 27,982 1,120 603
Income before income taxes 245,171 268,230 228,247
INCOME TAX EXPENSE (42,160) (58,169) (44,034)
NET INCOME $ 203,011 $ 210,061 $ 184,213
NET INCOME PER COMMON SHARE:      
BASIC $ 4.25 $ 4.41 $ 3.87
DILUTED $ 4.24 $ 4.4 $ 3.87
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:      
BASIC 47,559,669 47,390,352 47,296,447
DILUTED 47,622,763 47,468,507 47,365,435
CASH DIVIDEND DECLARED PER COMMON SHARE $ 1.4 $ 1.2 $ 0.8
Material sales      
REVENUE:      
Total revenue $ 322,029 $ 331,081 $ 318,623
Royalty and license fees      
REVENUE:      
Total revenue 238,389 267,115 219,032
Contract research services      
REVENUE:      
Total revenue $ 16,011 $ 18,423 $ 15,870