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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 30,941     $ 30,771     $ 95,418 $ 84,423
Cost of revenue 16,494     16,873     50,889 45,964
Gross profit 14,447     13,898     44,529 38,459
Operating expenses:                
Selling expense 4,295     4,009     13,411 11,498
Engineering and product development expense 1,802     1,866     5,689 5,649
General and administrative expense 5,882     4,864     16,099 14,623
Total operating expenses 11,979     10,739     35,199 31,770
Operating income 2,468     3,159     9,330 6,689
Interest expense (168)     (179)     (526) (457)
Other income 423     59     678 32
Earnings before income tax expense 2,723     3,039     9,482 6,264
Income tax expense 446     515     1,595 1,047
Net earnings $ 2,277 $ 2,793 $ 2,817 $ 2,524 $ 2,116 $ 577 $ 7,887 $ 5,217
Earnings per common share - basic (in dollars per share) $ 0.19     $ 0.24     $ 0.7 $ 0.49
Weighted average common shares outstanding - basic (in shares) 11,886,005     10,695,867     11,294,306 10,655,469
Earnings per common share - diluted (in dollars per share) $ 0.19     $ 0.23     $ 0.68 $ 0.48
Weighted average common shares and common share equivalents outstanding - diluted (in shares) 12,212,317     10,864,540     11,665,850 10,840,644