XML 83 R72.htm IDEA: XBRL DOCUMENT v3.20.2
Error Correction (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended 36 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2018
Dec. 31, 2017
Jun. 30, 2020
Dec. 31, 2019
Jun. 30, 2019
Consolidated Statements of Income                  
Net Sales $ 134,772 $ 113,500 $ 397,851 $ 346,759          
Cost of sales 93,924 86,090 275,925 263,715          
Gross profit 40,848 27,410 121,926 83,044          
Selling, general and administrative expenses 14,716 12,374 45,869 38,963          
Loss (gain) on disposal of assets 1 6 (61) 296          
Income from operations 26,131 15,030 76,118 43,785          
Interest income, net   9   49          
Other income (expense), net 15 (7) 20 (16)          
Income before taxes 26,156 15,032 76,228 43,818          
Income tax provision 5,696 742 16,111 7,380 $ 300 $ 900      
Net income $ 20,460 $ 14,290 $ 60,117 $ 36,438          
Earnings per share:                  
Basic (usd per share) $ 0.39 $ 0.27 $ 1.15 $ 0.70          
Diluted (usd per share) 0.38 0.26 1.14 0.69          
Cash dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0.19 $ 0.16          
Weighted average shares outstanding:                  
Basic (in shares) 52,260,551 52,111,444 52,174,705 52,086,209          
Diluted (in shares) 53,151,295 52,722,127 52,955,049 52,624,583          
Balance Sheet                  
Current assets $ 225,531 $ 170,284 $ 225,531 $ 170,284       $ 187,549  
Total assets 439,913 351,900 439,913 351,900       371,424  
Current liabilities 61,506 53,103 61,506 53,103       56,028  
Deferred income taxes 22,973 12,873 22,973 12,873       15,297  
Total stockholders' equity 344,892 282,255 344,892 282,255 249,443   $ 322,695 290,140 $ 267,511
Share-based compensation 2,852 2,068 8,546 9,854          
Profit sharing bonus plan expense 3,000 1,684 8,691 4,948          
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity 344,892 282,255 344,892 282,255 249,443   322,695 290,140 267,511
Net income 20,460 14,290 60,117 36,438          
Stock options exercised and restricted stock awards granted 4,346 3,598 18,519 11,283          
Share-based compensation 2,852 2,068 8,546 9,854          
Stock repurchased and retired (5,474) (5,289) (22,520) (16,460)          
Dividends 13 77 (9,910) (8,303)          
Operating Activities                  
Net income 20,460 14,290 60,117 36,438          
Adjustments to reconcile net income to net cash provided by operating activities:                  
Depreciation and amortization     18,971 17,627          
Provision for credit losses on accounts receivable, net of adjustments     193 91          
Provision for excess and obsolete inventories     1,776 1,003          
Share-based compensation     8,546 9,854          
Loss (gain) on disposition of assets 1 6 (61) 296          
Foreign currency transaction (gain) loss     18 (17)          
Interest income on note receivable     (19) (19)          
Deferred income taxes 2,615 296 7,676 3,614          
Changes in assets and liabilities:                  
Accounts receivable     5,011 (2,096)          
Income taxes     (3,142) 2,283          
Inventories     (6,994) (4,014)          
Prepaid expenses and other     (598) (513)          
Accounts payable     3,654 782          
Deferred revenue     1,128 263          
Accrued liabilities and donations     688 4,991          
Net cash provided by operating activities     96,995 70,583          
Investing Activities                  
Capital expenditures     (48,955) (30,831)          
Proceeds from sale of property, plant and equipment     61 68          
Investment in certificates of deposits     0 (6,000)          
Maturities of certificates of deposits     0 6,000          
Principal payments from note receivable     38 39          
Net cash used in investing activities     (48,856) (30,724)          
Financing Activities                  
Stock options exercised     18,519 11,283          
Repurchase of stock     (21,390) (15,437)          
Employee taxes paid by withholding shares     (1,130) (1,023)          
Cash dividends paid to stockholders     (9,910) (8,303)          
Net cash used in financing activities     (13,911) (13,480)          
Net increase in cash, cash equivalents and restricted cash     34,228 26,379          
Cash, cash equivalents and restricted cash, beginning of period     44,373 1,994          
Cash, cash equivalents and restricted cash, end of period 78,601 28,373 78,601 28,373 1,994        
Common Stock                  
Balance Sheet                  
Total stockholders' equity $ 209 $ 209 $ 209 $ 209 $ 208   $ 209 $ 208 $ 209
Consolidated Statements of Stockholders’ Equity                  
Shares, Outstanding 52,265,000 52,119,000 52,265,000 52,119,000 51,991,000   52,234,000 52,079,000 52,118,000
Total stockholders' equity $ 209 $ 209 $ 209 $ 209 $ 208   $ 209 $ 208 $ 209
Stock options exercised and restricted stock awards granted (in shares) 126,000 110,000 616,000 494,000          
Stock options exercised and restricted stock awards granted $ 0   $ 2 $ 2          
Stock repurchased and retired (in shares) (95,000) (109,000) (430,000) (366,000)          
Stock repurchased and retired     $ (1) $ (1)          
Paid-in Capital                  
Balance Sheet                  
Total stockholders' equity $ 8,175 $ 4,676 8,175 4,676 0   6,451 3,631 4,299
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity 8,175 4,676 8,175 4,676 0   6,451 3,631 4,299
Stock options exercised and restricted stock awards granted 4,346 3,598 18,517 11,281          
Share-based compensation 2,852 2,068 8,546 9,854          
Stock repurchased and retired (5,474) (5,289) (22,519) (16,459)          
Retained Earnings                  
Consolidated Statements of Income                  
Net income 20,460 14,290 60,117 36,438          
Balance Sheet                  
Total stockholders' equity 336,508 277,370 336,508 277,370 249,235   316,035 286,301 263,003
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity 336,508 277,370 336,508 277,370 249,235   $ 316,035 $ 286,301 263,003
Net income 20,460 14,290 60,117 36,438          
Stock repurchased and retired 0                
Dividends 13 77 (9,910) (8,303)          
Operating Activities                  
Net income $ 20,460 14,290 $ 60,117 36,438          
Previously Reported                  
Consolidated Statements of Income                  
Net Sales   113,500   346,759          
Cost of sales   86,115   263,406          
Gross profit   27,385   83,353          
Selling, general and administrative expenses   12,994   37,476          
Loss (gain) on disposal of assets   6   296          
Income from operations   14,385   45,581          
Interest income, net   9   49          
Other income (expense), net   (7)   (16)          
Income before taxes   14,387   45,614          
Income tax provision   560   7,924          
Net income   $ 13,827   $ 37,690          
Earnings per share:                  
Basic (usd per share)   $ 0.27   $ 0.72          
Diluted (usd per share)   0.26   0.72          
Cash dividends declared per common share (in dollars per share)   $ 0   $ 0.16          
Weighted average shares outstanding:                  
Basic (in shares)   52,111,444   52,086,209          
Diluted (in shares)   52,722,127   52,624,583          
Balance Sheet                  
Current assets   $ 170,536   $ 170,536          
Total assets   352,152   352,152          
Current liabilities   53,882   53,882          
Deferred income taxes   15,034   15,034          
Total stockholders' equity   279,567   279,567 247,499       264,569
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   279,567   279,567 247,499       264,569
Net income   13,827   37,690          
Stock options exercised and restricted stock awards granted   3,598   11,283          
Share-based compensation   2,785   7,858          
Stock repurchased and retired   (5,289)   (16,460)          
Dividends   77   (8,303)          
Operating Activities                  
Net income   13,827   37,690          
Adjustments to reconcile net income to net cash provided by operating activities:                  
Depreciation and amortization       17,627          
Provision for credit losses on accounts receivable, net of adjustments       91          
Provision for excess and obsolete inventories       1,003          
Share-based compensation       7,858          
Loss (gain) on disposition of assets   6   296          
Foreign currency transaction (gain) loss       (17)          
Interest income on note receivable       (19)          
Deferred income taxes       4,208          
Changes in assets and liabilities:                  
Accounts receivable       (2,096)          
Income taxes       (2,234)          
Inventories       (4,014)          
Prepaid expenses and other       (513)          
Accounts payable       782          
Deferred revenue       263          
Accrued liabilities and donations       5,190          
Net cash provided by operating activities       70,583          
Investing Activities                  
Capital expenditures       (30,831)          
Proceeds from sale of property, plant and equipment       68          
Investment in certificates of deposits       (6,000)          
Maturities of certificates of deposits       6,000          
Principal payments from note receivable       39          
Net cash used in investing activities       (30,724)          
Financing Activities                  
Stock options exercised       11,283          
Repurchase of stock       (15,437)          
Employee taxes paid by withholding shares       (1,023)          
Cash dividends paid to stockholders       (8,303)          
Net cash used in financing activities       (13,480)          
Net increase in cash, cash equivalents and restricted cash       26,379          
Cash, cash equivalents and restricted cash, beginning of period       1,994          
Cash, cash equivalents and restricted cash, end of period   28,373   28,373 1,994        
Previously Reported | Common Stock                  
Balance Sheet                  
Total stockholders' equity   $ 209   $ 209 $ 208       $ 209
Consolidated Statements of Stockholders’ Equity                  
Shares, Outstanding   52,119,000   52,119,000 51,991,000       52,118,000
Total stockholders' equity   $ 209   $ 209 $ 208       $ 209
Stock options exercised and restricted stock awards granted (in shares)   110,000   494,000          
Stock options exercised and restricted stock awards granted       $ 2          
Stock repurchased and retired (in shares)   (109,000)   (366,000)          
Stock repurchased and retired       $ (1)          
Previously Reported | Paid-in Capital                  
Balance Sheet                  
Total stockholders' equity   $ 2,680   2,680 0       1,586
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   2,680   2,680 0       1,586
Stock options exercised and restricted stock awards granted   3,598   11,281          
Share-based compensation   2,785   7,858          
Stock repurchased and retired   (5,289)   (16,459)          
Previously Reported | Retained Earnings                  
Consolidated Statements of Income                  
Net income   13,827   37,690          
Balance Sheet                  
Total stockholders' equity   276,678   276,678 247,291       262,774
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   276,678   276,678 247,291       262,774
Net income   13,827   37,690          
Dividends   77   (8,303)          
Operating Activities                  
Net income   13,827   37,690          
Corrections                  
Consolidated Statements of Income                  
Net Sales   0   0          
Cost of sales   (25)   309          
Gross profit   25   (309)          
Selling, general and administrative expenses   (620)   1,487          
Loss (gain) on disposal of assets   0   0          
Income from operations   645   (1,796)          
Interest income, net   0   0          
Other income (expense), net   0   0          
Income before taxes   645   (1,796)          
Income tax provision   182   (544)          
Net income   $ 463   $ (1,252)          
Earnings per share:                  
Basic (usd per share)   $ 0   $ (0.02)          
Diluted (usd per share)   0   (0.03)          
Cash dividends declared per common share (in dollars per share)   $ 0   $ 0          
Weighted average shares outstanding:                  
Basic (in shares)   0   0          
Diluted (in shares)   0   0          
Balance Sheet                  
Current assets   $ (252)   $ (252)          
Total assets   (252)   (252)          
Current liabilities   (779)   (779)          
Deferred income taxes   (2,161)   (2,161)          
Total stockholders' equity   2,688   2,688 1,944       2,942
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   2,688   2,688 1,944       2,942
Net income   463   (1,252)          
Stock options exercised and restricted stock awards granted   0   0          
Share-based compensation   (717)   1,996          
Stock repurchased and retired   0   0          
Dividends   0   0          
Operating Activities                  
Net income   463   (1,252)          
Adjustments to reconcile net income to net cash provided by operating activities:                  
Depreciation and amortization       0          
Provision for credit losses on accounts receivable, net of adjustments       0          
Provision for excess and obsolete inventories       0          
Share-based compensation       1,996          
Loss (gain) on disposition of assets   0   0          
Foreign currency transaction (gain) loss       0          
Interest income on note receivable       0          
Deferred income taxes       (594)          
Changes in assets and liabilities:                  
Accounts receivable       0          
Income taxes       (49)          
Inventories       0          
Prepaid expenses and other       0          
Accounts payable       0          
Deferred revenue       0          
Accrued liabilities and donations       (199)          
Net cash provided by operating activities       0          
Investing Activities                  
Capital expenditures       0          
Proceeds from sale of property, plant and equipment       0          
Investment in certificates of deposits       0          
Maturities of certificates of deposits       0          
Principal payments from note receivable       0          
Net cash used in investing activities       0          
Financing Activities                  
Stock options exercised       0          
Repurchase of stock       0          
Employee taxes paid by withholding shares       0          
Cash dividends paid to stockholders       0          
Net cash used in financing activities       0          
Net increase in cash, cash equivalents and restricted cash       0          
Cash, cash equivalents and restricted cash, beginning of period       0          
Cash, cash equivalents and restricted cash, end of period   0   0 0        
Corrections | Common Stock                  
Balance Sheet                  
Total stockholders' equity   $ 0   $ 0 $ 0       $ 0
Consolidated Statements of Stockholders’ Equity                  
Shares, Outstanding   0   0 0       0
Total stockholders' equity   $ 0   $ 0 $ 0       $ 0
Corrections | Paid-in Capital                  
Balance Sheet                  
Total stockholders' equity   1,996   1,996 0       2,713
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   1,996   1,996 0       2,713
Share-based compensation   (717)   1,996          
Corrections | Retained Earnings                  
Consolidated Statements of Income                  
Net income   463   (1,252)          
Balance Sheet                  
Total stockholders' equity   692   692 1,944       229
Consolidated Statements of Stockholders’ Equity                  
Total stockholders' equity   692   692 $ 1,944       $ 229
Net income   463   (1,252)          
Operating Activities                  
Net income   463   (1,252)          
Corrections | Cost of Sales                  
Balance Sheet                  
Share-based compensation   100   300          
Corrections | Selling, General and Administrative Expenses                  
Balance Sheet                  
Share-based compensation   700   1,700          
Profit sharing bonus plan expense   $ 100   $ 200