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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Revenues $ 252,012 $ 245,893 $ 232,434
Cost of goods sold 176,333 172,889 163,662
Gross profit 75,679 73,004 68,772
Operating costs and expenses:      
Selling 10,979 9,986 8,149
General and administrative 24,926 24,333 22,251
Engineering and development 17,542 16,170 14,229
Business development 213 428 569
Amortization of intangible assets 3,219 3,204 2,644
Total operating costs and expenses 56,879 54,121 47,842
Operating income 18,800 18,883 20,930
Other expense (income):      
Interest expense 2,474 6,449 6,023
Other expense (income), net 190 (369) (514)
Total other expense (income) , net 2,664 6,080 5,509
Income before income taxes 16,136 12,803 15,421
Provision for income taxes (8,100) (3,725) (4,347)
Net income $ 8,036 $ 9,078 $ 11,074
Basic earnings per share:      
Earnings per share (in dollars per share) $ 0.88 $ 1.01 $ 1.20
Basic weighted average common shares (in shares) 9,153 9,011 9,228
Diluted earnings per share:      
Earnings per share (in dollars per share) $ 0.87 $ 1.00 $ 1.20
Diluted weighted average common shares (in shares) 9,275 9,105 9,238
Net income $ 8,036 $ 9,078 $ 11,074
Other comprehensive income:      
Foreign currency translation adjustment 6,314 (1,989) (4,334)
Change in accumulated loss on derivatives 226 (3) (25)
Pension adjustments [1] (123) (134) 165
Comprehensive income $ 14,453 $ 6,952 $ 6,880
[1] Net of tax of $21, ($78) and $114 for the periods ending December 31, 2017, 2016 and 2015, respectively.