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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 86,661 $ 92,630 $ 179,043 $ 186,526
Cost of goods sold 60,201 64,208 124,541 130,442
Gross profit 26,460 28,422 54,502 56,084
Operating costs and expenses:        
Selling 3,842 4,136 8,085 8,229
General and administrative 9,710 9,569 18,872 18,519
Engineering and development 6,197 5,676 12,431 11,483
Business development 177 3 424 56
Amortization of intangible assets 1,483 1,430 2,924 2,862
Total operating costs and expenses 21,409 20,814 42,736 41,149
Operating income 5,051 7,608 11,766 14,935
Other expense (income):        
Interest expense 901 1,435 1,955 2,615
Other expense (income), net 17 (1) 76 (19)
Total other expense, net 918 1,434 2,031 2,596
Income before income taxes 4,133 6,174 9,735 12,339
Provision for income taxes (1,237) (1,729) (2,804) (3,424)
Net income $ 2,896 $ 4,445 $ 6,931 $ 8,915
Basic earnings per share:        
Earnings per share (in dollars per share) $ 0.30 $ 0.47 $ 0.73 $ 0.95
Basic weighted average common shares (in shares) 9,509 9,408 9,474 9,378
Diluted earnings per share:        
Earnings per share (in dollars per share) $ 0.30 $ 0.47 $ 0.73 $ 0.95
Diluted weighted average common shares (in shares) 9,536 9,456 9,518 9,419
Net income $ 2,896 $ 4,445 $ 6,931 $ 8,915
Other comprehensive income:        
Foreign currency translation adjustment 1,932 548 (496) (339)
Loss on derivatives (329) (436) (1,417) (698)
Comprehensive income $ 4,499 $ 4,557 $ 5,018 $ 7,878