XML 13 R3.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Net sales-Solar $ 71,677 $ 66,997 $ 139,655 $ 121,808
Net sales-Quality Assurance 30,712 29,657 55,671 54,619
Total net sales 102,389 96,654 195,326 176,427
Cost of sales-Solar 46,799 38,306 86,492 69,760
Cost of sales-Quality Assurance 21,679 18,988 41,503 37,216
Total cost of sales 68,478 57,294 127,995 106,976
Gross profit 33,911 39,360 67,331 69,451
Selling, general and administrative expenses 15,316 13,096 29,872 29,065
Provision for bad debt expense 1,144 634 1,467 743
Earnings on equity-method investments (13) (54) (8) (73)
Operating income 17,464 25,684 36,000 39,716
Interest income 104 36 126 64
Interest expense (2,808) (4,411) (5,605) (8,642)
Foreign currency transaction (loss) gain (338) 373 (49) 330
Unrealized gain on interest rate swap   1,446   2,662
Earnings before income tax expense 14,422 23,128 30,472 34,130
Income tax expense 4,712 8,102 9,922 11,344
Net earnings 9,710 15,026 20,550 22,786
Other comprehensive income (loss):        
Foreign currency translation gain (loss) (net of tax effect of $706, $1,533, $1,795 and $2,444, respectively) 1,310 (2,845) 3,333 (4,537)
Other comprehensive income (loss) 1,310 (2,845) 3,333 (4,537)
Comprehensive income $ 11,020 $ 12,181 $ 23,883 $ 18,249
Earnings per share (Note 3):        
Basic (in dollars per share) $ 0.24 $ 0.37 $ 0.50 $ 0.57
Diluted (in dollars per share) $ 0.23 $ 0.36 $ 0.49 $ 0.55
Weighted-average common shares outstanding:        
Basic (in shares) 40,882,026 40,273,457 40,821,482 40,218,559
Diluted (in shares) 42,012,274 42,054,990 42,129,184 41,743,168