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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME    
Revenues $ 92,382 $ 93,896
Cost of goods sold 64,340 66,234
Gross profit 28,042 27,662
Operating costs and expenses:    
Selling 4,243 4,093
General and administrative 9,162 8,950
Engineering and development 6,234 5,807
Business development 247 53
Amortization of intangible assets 1,441 1,432
Total operating costs and expenses 21,327 20,335
Operating income 6,715 7,327
Other expense (income):    
Interest expense 1,054 1,180
Other expense (income), net 59 (18)
Total other expense, net 1,113 1,162
Income before income taxes 5,602 6,165
Provision for income taxes (1,567) (1,695)
Net income $ 4,035 $ 4,470
Basic earnings per share:    
Earnings per share (in dollars per share) $ 0.43 $ 0.48
Basic weighted average common shares (in shares) 9,453 9,340
Diluted earnings per share:    
Earnings per share (in dollars per share) $ 0.42 $ 0.48
Diluted weighted average common shares (in shares) 9,516 9,375
Net income $ 4,035 $ 4,470
Other comprehensive income:    
Foreign currency translation adjustment (2,428) (887)
Income (loss) on derivatives (1,088) (262)
Comprehensive income $ 519 $ 3,321