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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 32,663 $ 30,771 $ 97,140 $ 84,423
Cost of revenue 17,329 16,873 51,724 45,964
Gross profit 15,334 13,898 45,416 38,459
Operating expenses:        
Selling expense 4,367 4,009 13,483 11,498
Engineering and product development expense 1,802 1,866 5,689 5,649
General and administrative expense 5,882 4,864 16,099 14,623
Total operating expenses 12,051 10,739 35,271 31,770
Operating income 3,283 3,159 10,145 6,689
Interest expense (168) (179) (526) (457)
Other income 423 59 678 32
Earnings before income tax expense 3,538 3,039 10,297 6,264
Income tax expense 572 515 1,721 1,047
Net earnings $ 2,966 $ 2,524 $ 8,576 $ 5,217
Earnings per common share - basic (in dollars per share) $ 0.25 $ 0.24 $ 0.76 $ 0.49
Weighted average common shares outstanding - basic (in shares) 11,886,005 10,695,867 11,294,306 10,655,469
Earnings per common share - diluted (in dollars per share) $ 0.24 $ 0.23 $ 0.74 $ 0.48
Weighted average common shares and common share equivalents outstanding - diluted (in shares) 12,212,317 10,864,540 11,665,850 10,840,644