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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 96,633 $ 80,092 $ 283,159 $ 236,649
Cost of goods sold 66,603 56,330 197,045 166,816
Gross profit 30,030 23,762 86,114 69,833
Operating costs and expenses:        
Selling 4,144 2,762 12,373 8,402
General and administrative 9,932 8,177 28,451 23,969
Engineering and development 5,705 4,692 17,188 14,610
Business development 8 33 64 349
Amortization of intangible assets 1,429 872 4,291 2,634
Total operating costs and expenses 21,218 16,536 62,367 49,964
Operating income 8,812 7,226 23,747 19,869
Other expense (income):        
Interest expense 1,359 623 3,974 1,839
Other expense (income), net 140 (24) 121 (118)
Total other expense, net 1,499 599 4,095 1,721
Income before income taxes 7,313 6,627 19,652 18,148
Provision for income taxes (2,695) (1,767) (6,119) (4,859)
Net income $ 4,618 $ 4,860 $ 13,533 $ 13,289
Basic earnings per share:        
Earnings per share (in dollars per share) $ 0.49 $ 0.52 $ 1.44 $ 1.44
Basic weighted average common shares (in shares) 9,414 9,273 9,390 9,251
Diluted earnings per share:        
Earnings per share (in dollars per share) $ 0.49 $ 0.52 $ 1.43 $ 1.42
Diluted weighted average common shares (in shares) 9,464 9,371 9,435 9,337
Net income $ 4,618 $ 4,860 $ 13,533 $ 13,289
Other comprehensive income:        
Foreign currency translation adjustment (2,369) (307) (2,708) (2,152)
(Loss) income on derivatives (105) 137 (803) 988
Comprehensive income $ 2,144 $ 4,690 $ 10,022 $ 12,125