XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 94,653 $ 96,633 $ 273,696 $ 283,159
Cost of goods sold 66,513 66,603 191,054 197,045
Gross profit 28,140 30,030 82,642 86,114
Operating costs and expenses:        
Selling 3,734 4,144 11,819 12,373
General and administrative 10,008 9,932 28,880 28,451
Engineering and development 6,434 5,705 18,865 17,188
Business development 8 8 432 64
Amortization of intangible assets 1,499 1,429 4,423 4,291
Total operating costs and expenses 21,683 21,218 64,419 62,367
Operating income 6,457 8,812 18,223 23,747
Other expense:        
Interest expense 844 1,359 2,799 3,974
Other expense, net 231 140 307 121
Total other expense, net 1,075 1,499 3,106 4,095
Income before income taxes 5,382 7,313 15,117 19,652
Provision for income taxes (1,369) (2,695) (4,173) (6,119)
Net income $ 4,013 $ 4,618 $ 10,944 $ 13,533
Basic earnings per share:        
Earnings per share (in dollars per share) $ 0.42 $ 0.49 $ 1.15 $ 1.44
Basic weighted average common shares (in shares) 9,514 9,414 9,487 9,390
Diluted earnings per share:        
Earnings per share (in dollars per share) $ 0.42 $ 0.49 $ 1.15 $ 1.43
Diluted weighted average common shares (in shares) 9,579 9,464 9,539 9,435
Net income $ 4,013 $ 4,618 $ 10,944 $ 13,533
Other comprehensive income:        
Foreign currency translation adjustment 3,433 (2,369) 2,937 (2,708)
Gain (loss) on derivatives 70 (105) (1,347) (803)
Comprehensive income $ 7,516 $ 2,144 $ 12,534 $ 10,022