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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUE:      
Total revenue $ 647,684 $ 576,429 $ 616,619
COST OF SALES 148,461 135,376 127,896
Gross margin 499,223 441,053 488,723
OPERATING EXPENSES:      
Research and development 157,187 130,481 117,062
Selling, general and administrative 74,286 67,387 77,886
Amortization of acquired technology and other intangible assets 18,200 15,993 17,459
Patent costs 8,699 9,356 8,329
Royalty and license expense 2,048 647 877
Total operating expenses 260,420 223,864 221,613
OPERATING INCOME 238,803 217,189 267,110
Interest income, net 40,682 28,166 7,811
Other loss, net (7,357) (184) (6,691)
Interest and other loss, net 33,325 27,982 1,120
INCOME BEFORE INCOME TAXES 272,128 245,171 268,230
INCOME TAX EXPENSE (50,049) (42,160) (58,169)
NET INCOME $ 222,079 $ 203,011 $ 210,061
NET INCOME PER COMMON SHARE:      
BASIC $ 4.66 $ 4.25 $ 4.41
DILUTED $ 4.65 $ 4.24 $ 4.4
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:      
BASIC 47,548,931 47,559,669 47,390,352
DILUTED 47,652,662 47,622,763 47,468,507
CASH DIVIDEND DECLARED PER COMMON SHARE $ 1.6 $ 1.4 $ 1.2
Material sales      
REVENUE:      
Total revenue $ 365,419 $ 322,029 $ 331,081
Royalty and license fees      
REVENUE:      
Total revenue 266,820 238,389 267,115
Contract research services      
REVENUE:      
Total revenue $ 15,445 $ 16,011 $ 18,423