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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)        
Revenues $ 145,319 $ 134,405 $ 437,637 $ 371,912
Cost of goods sold 97,821 91,108 298,328 255,381
Gross profit 47,498 43,297 139,309 116,531
Operating costs and expenses:        
Selling 6,021 5,497 18,354 16,336
General and administrative 14,642 13,148 43,624 37,239
Engineering and development 10,702 9,702 31,041 28,879
Business development 1,194 199 1,791 2,464
Amortization of intangible assets 3,075 3,054 9,226 8,133
Total operating costs and expenses 35,634 31,600 104,036 93,051
Operating income 11,864 11,697 35,273 23,480
Other expense, net:        
Interest expense 3,164 2,337 9,309 4,900
Other expense, net 42 243 187 9
Total other expense, net 3,206 2,580 9,496 4,909
Income before income taxes 8,658 9,117 25,777 18,571
Income tax provision (1,992) (2,508) (6,027) (4,878)
Net income $ 6,666 $ 6,609 $ 19,750 $ 13,693
Basic earnings per share:        
Earnings per share $ 0.42 $ 0.42 $ 1.24 $ 0.89
Basic weighted average common shares 15,979 15,661 15,940 15,373
Diluted earnings per share:        
Earnings per share $ 0.41 $ 0.41 $ 1.22 $ 0.86
Diluted weighted average common shares 16,237 16,169 16,198 15,929
Net income $ 6,666 $ 6,609 $ 19,750 $ 13,693
Other comprehensive income (loss):        
Foreign currency translation adjustment (2,923) (9,603) (1,995) (19,535)
(Loss) gain on derivatives, net of tax (170) 2,042 (596) 5,617
Comprehensive income (loss) $ 3,573 $ (952) $ 17,159 $ (225)