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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Revenues $ 103,509 $ 94,653 $ 306,723 $ 273,696
Cost of goods sold 71,488 66,513 213,417 191,054
Gross profit 32,021 28,140 93,306 82,642
Operating costs and expenses:        
Selling 4,365 3,734 12,979 11,819
General and administrative 10,620 10,008 32,549 28,880
Engineering and development 6,768 6,434 20,967 18,865
Business development 94 8 268 432
Amortization of intangible assets 1,504 1,499 4,527 4,423
Total operating costs and expenses 23,351 21,683 71,290 64,419
Operating income 8,670 6,457 22,016 18,223
Other expense, net:        
Interest expense 777 844 2,445 2,799
Other (income) expense, net (29) 231 (158) 307
Total other expense, net 748 1,075 2,287 3,106
Income before income taxes 7,922 5,382 19,729 15,117
Income tax (provision) benefit (1,950) (1,369) 2,804 (4,173)
Net income $ 5,972 $ 4,013 $ 22,533 $ 10,944
Basic earnings per share:        
Earnings per share $ 0.41 $ 0.28 $ 1.57 $ 0.77
Basic weighted average common shares 14,411 14,271 14,375 14,231
Diluted earnings per share:        
Earnings per share $ 0.41 $ 0.28 $ 1.56 $ 0.76
Diluted weighted average common shares 14,502 14,369 14,478 14,309
Net income $ 5,972 $ 4,013 $ 22,533 $ 10,944
Other comprehensive income:        
Foreign currency translation adjustment (2,528) 3,433 (5,580) 2,937
Gain (loss) on derivatives 155 70 919 (1,347)
Comprehensive income $ 3,599 $ 7,516 $ 17,872 $ 12,534