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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 101,537 $ 86,661 $ 203,214 $ 179,043
Cost of goods sold 70,320 60,201 141,929 124,541
Gross profit 31,217 26,460 61,285 54,502
Operating costs and expenses:        
Selling 4,396 3,842 8,614 8,085
General and administrative 11,181 9,710 21,929 18,872
Engineering and development 7,240 6,197 14,199 12,431
Business development 155 177 174 424
Amortization of intangible assets 1,511 1,483 3,023 2,924
Total operating costs and expenses 24,483 21,409 47,939 42,736
Operating income 6,734 5,051 13,346 11,766
Other expense, net:        
Interest expense 807 901 1,668 1,955
Other (income) expense, net (10) 17 (129) 76
Total other expense, net 797 918 1,539 2,031
Income before income taxes 5,937 4,133 11,807 9,735
Income tax (provision) benefit (1,303) (1,237) 4,754 (2,804)
Net income $ 4,634 $ 2,896 $ 16,561 $ 6,931
Basic earnings per share:        
Earnings per share $ 0.32 $ 0.20 $ 1.15 $ 0.49
Basic weighted average common shares 14,406 14,264 14,356 14,211
Diluted earnings per share:        
Earnings per share $ 0.32 $ 0.20 $ 1.14 $ 0.49
Diluted weighted average common shares 14,494 14,304 14,467 14,278
Net income $ 4,634 $ 2,896 $ 16,561 $ 6,931
Other comprehensive income:        
Foreign currency translation adjustment 955 1,932 (3,052) (496)
Gain (loss) on derivatives 56 (329) 764 (1,417)
Comprehensive income $ 5,645 $ 4,499 $ 14,273 $ 5,018