Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Tax Expense (Benefit)

The provision for income tax expense consisted of the following:

	(In thousands) Years Ended December 31,
	2024		2023		2022
Current tax expense
Federal	$	10,629	$	8,796	$	12,474
State	1,604		1,095		1,023
Foreign	633		390		428
	12,866		10,281		13,925
Deferred tax (benefit) expense
Federal	(6,242)		(7,857)		(8,624)
State	(1,212)		(1,973)		(768)
	(7,454)		(9,830)		(9,392)
Income tax expense	$	5,412	$	451	$	4,533

Schedule of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) were comprised of the following:

	(In thousands) December 31,
	2024		2023
Deferred tax assets:
Accrued expenses	$	547	$	889
Allowance for credit losses	642		501
Contract overrun reserves	1,145		1,323
Deferred compensation	590		526
Deferred revenue	—		—
Employment-related accruals	4,883		5,022
Environmental reserves	496		501
Federal tax credit carryforwards	—		133
Inventory reserves	3,907		4,628
Operating lease liabilities	6,983		7,318
Pension obligation	143		553
Federal and state net operating loss carryforwards	1,764		2,560
Research expenses	29,956		21,822
State tax credit carryforwards	7,992		7,582
Stock-based compensation	1,753		1,852
Other	1,918		1,798
Total gross deferred tax assets	62,719		57,008
Valuation allowance	(7,216)		(7,464)
Total gross deferred tax assets, net of valuation allowance	55,503		49,544
Deferred tax liabilities:
Deferred revenue	(2,374)		(2,794)
Depreciation	(11,533)		(11,622)
Goodwill	(13,149)		(10,973)
Intangibles	(14,167)		(16,265)
Interest rate hedge	(4,129)		(3,659)
Operating lease right-of-use assets	(6,702)		(7,087)
Prepaid insurance	(755)		(770)
Other	(455)		(499)
Total gross deferred tax liabilities	(53,264)		(53,669)
Net deferred tax assets (liabilities)	$	2,239	$	(4,125)

Schedule of Principle Reasons for Variation Between Expected and Effective Tax Rate

The principal reasons for the variation between the statutory and effective tax rates were as follows:

	Years Ended December 31,
	2024	2023	2022
Statutory federal income tax rate	21.0%	21.0%	21.0%
State income taxes (net of federal benefit)	4.1	4.3	4.0
Tax impact of foreign operations	1.3	2.8	1.0
Foreign derived intangible income deduction	(2.6)	(3.2)	(0.9)
Stock-based compensation expense	—	(1.5)	(0.6)
Research and development tax credits	(18.8)	(36.7)	(14.8)
Other tax credits	(0.2)	(0.3)	(0.1)
Changes in valuation allowance	(0.7)	(0.5)	(0.5)
Non-deductible book compensation expenses	9.8	14.8	4.4
Changes in deferred tax assets	0.8	0.8	(0.2)
Changes in tax reserves	—	1.0	—
Other	—	0.3	0.3
Effective income tax rate	14.7%	2.8%	13.6%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows:

	(In thousands) Years Ended December 31,
	2024		2023		2022
Balance at January 1,	$	4,493	$	4,944	$	4,435
Additions for tax positions related to the current year	748		646		1,177
Additions for tax positions related to prior years	142		220		15
Reductions for tax positions related to prior years	—		(600)		(13)
Reductions for lapse of statute of limitations	(850)		(717)		(670)
Balance at December 31,	$	4,533	$	4,493	$	4,944