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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Revenues $ 502,988 $ 403,516 $ 366,694
Cost of goods sold 345,729 282,460 258,119
Gross profit 157,259 121,056 108,575
Operating costs and expenses:      
Selling 21,877 17,249 15,392
General and administrative 50,677 42,419 38,301
Engineering and development 38,561 27,818 25,487
Business development 3,319 1,299 473
Amortization of intangible assets 11,169 6,245 5,928
Total operating costs and expenses 125,603 95,030 85,581
Operating income 31,656 26,026 22,994
Other expense, net:      
Interest expense 7,692 3,236 3,716
Other expense (income), net 283 (323) 502
Total other expense, net 7,975 2,913 4,218
Income before income taxes 23,681 23,113 18,776
Income tax (provision) benefit (6,292) 981 (5,133)
Net income $ 17,389 $ 24,094 $ 13,643
Basic earnings per share:      
Earnings per share $ 1.13 $ 1.67 $ 0.96
Basic weighted average common shares 15,448 14,413 14,243
Diluted earnings per share:      
Earnings per share $ 1.09 $ 1.66 $ 0.95
Diluted weighted average common shares 15,951 14,517 14,333
Net income $ 17,389 $ 24,094 $ 13,643
Other comprehensive (loss) income:      
Foreign currency translation adjustment (9,516) (7,193) 8,410
Change in accumulated income (loss) on derivatives 5,376 1,618 (1,161)
Pension adjustments 269 770 (5)
Comprehensive income $ 13,518 $ 19,289 $ 20,887