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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 642,411 $ 584,956 $ 1,174,535 $ 1,116,934
Cost of sales 504,951 507,774 946,737 1,039,640
Gross profit 137,460 77,182 227,798 77,294
Operating expenses:        
Selling, general and administrative 51,770 50,934 110,357 96,286
Research and development 22,483 24,395 48,096 46,272
Production start-up 6,311 10,437 10,793 19,959
Litigation loss 6,000 0 6,000 0
Total operating expenses 86,564 85,766 175,246 162,517
Operating income (loss) 50,896 (8,584) 52,552 (85,223)
Foreign currency (loss) income, net (1,299) 1,726 (1,697) 1,898
Interest income 3,674 13,510 13,004 27,769
Interest expense, net (3,254) (8,921) (10,043) (19,042)
Other expense, net (3,195) (4,438) (5,417) (929)
Income (loss) before taxes and equity in earnings 46,822 (6,707) 48,399 (75,527)
Income tax (expense) benefit (10,214) (11,744) 79,001 (10,350)
Equity in earnings, net of tax 303 (97) 215 (270)
Net income (loss) $ 36,911 $ (18,548) $ 127,615 $ (86,147)
Net income (loss) per share:        
Basic $ 0.35 $ (0.18) $ 1.21 $ (0.82)
Diluted $ 0.35 $ (0.18) $ 1.20 $ (0.82)
Weighted-average number of shares used in per share calculations:        
Basic 105,927 105,369 105,761 105,208
Diluted 106,473 105,369 106,429 105,208