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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)        
Revenues $ 146,769 $ 122,722 $ 292,318 $ 237,507
Cost of goods sold 100,792 82,948 200,507 164,273
Gross profit 45,977 39,774 91,811 73,234
Operating costs and expenses:        
Selling 6,301 5,808 12,333 10,839
General and administrative 14,162 12,595 28,982 24,091
Engineering and development 9,952 9,791 20,339 19,177
Business development 400 1,417 597 2,265
Amortization of intangible assets 3,142 2,645 6,151 5,079
Total operating costs and expenses 33,957 32,256 68,402 61,451
Operating income 12,020 7,518 23,409 11,783
Other expense, net:        
Interest expense 3,162 1,525 6,145 2,563
Other (income) expense, net (42) (279) 145 (234)
Total other expense, net 3,120 1,246 6,290 2,329
Income before income taxes 8,900 6,272 17,119 9,454
Income tax provision (2,131) (1,691) (4,035) (2,370)
Net income $ 6,769 $ 4,581 $ 13,084 $ 7,084
Basic earnings per share:        
Earnings per share $ 0.42 $ 0.30 $ 0.82 $ 0.47
Basic weighted average common shares 15,969 15,355 15,921 15,226
Diluted earnings per share:        
Earnings per share $ 0.42 $ 0.29 $ 0.81 $ 0.45
Diluted weighted average common shares 16,219 15,932 16,178 15,752
Net income $ 6,769 $ 4,581 $ 13,084 $ 7,084
Other comprehensive income (loss):        
Foreign currency translation adjustment (426) (8,699) 928 (9,932)
Gain (loss) on derivatives, net of tax 707 974 (426) 3,576
Comprehensive income (loss) $ 7,050 $ (3,144) $ 13,586 $ 728