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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Revenues $ 403,516 $ 366,694 $ 371,084
Cost of goods sold 282,460 258,119 258,500
Gross profit 121,056 108,575 112,584
Operating costs and expenses:      
Selling 17,249 15,392 16,536
General and administrative 42,419 38,301 37,688
Engineering and development 27,818 25,487 23,086
Business development 1,299 473 113
Amortization of intangible assets 6,245 5,928 5,718
Total operating costs and expenses 95,030 85,581 83,141
Operating income 26,026 22,994 29,443
Other expense, net:      
Interest expense 3,236 3,716 5,134
Other (income) expense, net (323) 502 468
Total other expense, net 2,913 4,218 5,602
Income before income taxes 23,113 18,776 23,841
Income tax benefit (provision) 981 (5,133) (6,819)
Net income $ 24,094 $ 13,643 $ 17,022
Basic earnings per share:      
Earnings per share $ 1.67 $ 0.96 $ 1.21
Basic weighted average common shares 14,413 14,243 14,097
Diluted earnings per share:      
Earnings per share $ 1.66 $ 0.95 $ 1.20
Diluted weighted average common shares 14,517 14,333 14,192
Net income $ 24,094 $ 13,643 $ 17,022
Other comprehensive income:      
Foreign currency translation adjustment (7,193) 8,410 (680)
Change in accumulated income (loss) on derivatives 1,618 (1,161) (711)
Pension adjustments 770 (5) (622)
Comprehensive income $ 19,289 $ 20,887 $ 15,009