XML 12 R3.htm IDEA: XBRL DOCUMENT v3.23.2
Unaudited Condensed Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
NET SALES $ 583,472,846 $ 463,423,002 $ 1,134,234,157 $ 931,673,777
COST OF GOODS SOLD 390,389,807 315,055,988 766,413,887 622,894,804
Gross profit 193,083,039 148,367,014 367,820,270 308,778,973
OPERATING EXPENSES:        
Engineering, research and development 37,973,790 32,857,419 72,627,537 64,832,406
Selling, general & administrative 27,819,861 29,718,626 54,652,698 54,849,694
Total operating expenses 65,793,651 62,576,045 127,280,235 119,682,100
Income from operations 127,289,388 85,790,969 240,540,035 189,096,873
OTHER INCOME (LOSS)        
Investment income 2,890,934 920,284 5,830,128 1,708,600
Other loss, net (1,576,538) (1,903,269) (1,771,277) (2,702,079)
Total other income (loss) 1,314,396 (982,985) 4,058,851 (993,479)
INCOME BEFORE PROVISION FOR INCOME TAXES 128,603,784 84,807,984 244,598,886 188,103,394
PROVISION FOR INCOME TAXES 19,448,381 12,403,581 37,865,222 28,170,366
NET INCOME $ 109,155,403 $ 72,404,403 $ 206,733,664 $ 159,933,028
EARNINGS PER SHARE:        
Basic (in dollars per share) [1] $ 0.47 $ 0.31 $ 0.88 $ 0.68
Diluted (in dollars per share) [1] 0.47 0.31 0.88 0.68
Cash Dividends Declared per Share (in dollars per share) $ 0.12 $ 0.120 $ 0.240 $ 0.24
[1] (1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards.