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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, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 125,213 $ 145,319 $ 407,958 $ 437,637
Cost of goods sold 85,949 97,821 280,641 298,328
Gross profit 39,264 47,498 127,317 139,309
Operating costs and expenses:        
Selling 6,323 6,021 19,283 18,354
General and administrative 13,856 14,642 42,438 43,624
Engineering and development 9,056 10,702 30,416 31,041
Business development 278 1,194 2,204 1,791
Amortization of intangible assets 3,135 3,075 9,381 9,226
Total operating costs and expenses 32,648 35,634 103,722 104,036
Operating income 6,616 11,864 23,595 35,273
Other expense, net:        
Interest expense 3,435 3,164 10,207 9,309
Other expense, net 468 42 405 187
Total other expense, net 3,903 3,206 10,612 9,496
Income before income taxes 2,713 8,658 12,983 25,777
Income tax provision (612) (1,992) (2,830) (6,027)
Net income $ 2,101 $ 6,666 $ 10,153 $ 19,750
Basic earnings per share:        
Earnings per share $ 0.13 $ 0.42 $ 0.61 $ 1.24
Basic weighted average common shares 16,574 15,979 16,513 15,940
Diluted earnings per share:        
Earnings per share $ 0.13 $ 0.41 $ 0.61 $ 1.22
Diluted weighted average common shares 16,605 16,237 16,581 16,198
Net income $ 2,101 $ 6,666 $ 10,153 $ 19,750
Other comprehensive income (loss):        
Foreign currency translation adjustment 5,821 (2,923) 235 (1,995)
Loss on derivatives, net of tax (1,379) (170) (1,968) (596)
Comprehensive income $ 6,543 $ 3,573 $ 8,420 $ 17,159