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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Revenues $ 245,893 $ 232,434 $ 249,682
Cost of goods sold 172,889 163,662 176,256
Gross margin 73,004 68,772 73,426
Operating costs and expenses:      
Selling 9,986 8,149 8,709
General and administrative 24,333 22,251 23,972
Engineering and development 16,170 14,229 13,881
Business development 428 569  
Amortization of intangible assets 3,204 2,644 2,714
Total operating costs and expenses 54,121 47,842 49,276
Operating income 18,883 20,930 24,150
Other expense (income):      
Interest expense 6,449 6,023 6,435
Other expense (income), net (369) (514) (908)
Total other expense (income) , net 6,080 5,509 5,527
Income before income taxes 12,803 15,421 18,623
Provision for income taxes (3,725) (4,347) (4,763)
Net income $ 9,078 $ 11,074 $ 13,860
Basic earnings per share:      
Earnings per share (in dollars per share) $ 1.01 $ 1.20 $ 1.52
Basic weighted average common shares (in shares) 9,011 9,228 9,145
Diluted earnings per share:      
Earnings per share (in dollars per share) $ 1.00 $ 1.20 $ 1.51
Diluted weighted average common shares (in shares) 9,105 9,238 9,165
Net income $ 9,078 $ 11,074 $ 13,860
Other comprehensive income:      
Foreign currency translation adjustment (1,989) (4,334) (5,601)
Change in accumulated loss on derivatives (3) (25) (43)
Pension adjustments [1] (134) 165 (663)
Comprehensive income $ 6,952 $ 6,880 $ 7,553
[1] Net of tax of ($78), $114 and ($460) for the periods ending December 31, 2016, 2015 and 2014, respectively.