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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUE:        
Total revenue $ 141,077 $ 160,556 $ 418,109 $ 447,587
COST OF SALES 34,248 37,396 99,357 97,798
Gross margin 106,829 123,160 318,752 349,789
OPERATING EXPENSES:        
Research and development 33,099 30,414 96,840 85,156
Selling, general and administrative 18,084 18,442 50,557 59,373
Amortization of acquired technology and other intangible assets 4,557 3,562 11,442 14,562
Patent costs 2,572 2,018 7,056 6,075
Royalty and license expense 81 261 414 596
Total operating expenses 58,393 54,697 166,309 165,762
OPERATING INCOME 48,436 68,463 152,443 184,027
Interest income, net 7,136 2,432 20,301 4,306
Other loss, net (1,693) (804) (3,180) (749)
Interest and other income, net 5,443 1,628 17,121 3,557
INCOME BEFORE INCOME TAXES 53,879 70,091 169,564 187,584
Income tax expense (benefit) (2,363) (16,636) (28,531) (42,657)
NET INCOME $ 51,516 $ 53,455 $ 141,033 $ 144,927
NET INCOME PER COMMON SHARE:        
BASIC $ 1.08 $ 1.12 $ 2.95 $ 3.04
DILUTED $ 1.08 $ 1.12 $ 2.95 $ 3.04
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER OMMON SHARE:        
BASIC 47,570,099 47,396,495 47,555,734 47,386,426
DILUTED 47,632,431 47,466,934 47,609,692 47,455,893
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.35 $ 0.3 $ 1.05 $ 0.9
Material Sales        
REVENUE:        
Total revenue $ 92,492 $ 84,182 $ 239,789 $ 242,742
Royalty And License Fees        
REVENUE:        
Total revenue 45,915 71,450 165,524 191,530
Contract Research Services        
REVENUE:        
Total revenue $ 2,670 $ 4,924 $ 12,796 $ 13,315