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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME      
Revenues $ 578,634 $ 502,988 $ 403,516
Cost of goods sold 394,951 345,729 282,460
Gross profit 183,683 157,259 121,056
Operating costs and expenses:      
Selling 24,713 21,877 17,249
General and administrative 58,403 50,677 42,419
Engineering and development 41,665 38,561 27,818
Business development 4,275 3,319 1,299
Amortization of intangible assets 12,313 11,169 6,245
Total operating costs and expenses 141,369 125,603 95,030
Operating income 42,314 31,656 26,026
Other expense, net:      
Interest expense 12,383 7,692 3,236
Other expense (income), net 231 283 (323)
Total other expense, net 12,614 7,975 2,913
Income before income taxes 29,700 23,681 23,113
Income tax (provision) benefit (5,603) (6,292) 981
Net income $ 24,097 $ 17,389 $ 24,094
Basic earnings per share:      
Earnings per share $ 1.51 $ 1.13 $ 1.67
Basic weighted average common shares 15,963 15,448 14,413
Diluted earnings per share:      
Earnings per share $ 1.48 $ 1.09 $ 1.66
Diluted weighted average common shares 16,272 15,951 14,517
Net income $ 24,097 $ 17,389 $ 24,094
Other comprehensive income (loss):      
Foreign currency translation adjustment 3,669 (9,516) (7,193)
Change in accumulated (loss) income on derivatives, net of tax (2,131) 5,376 1,618
Pension adjustments, net of tax 250 269 770
Comprehensive income $ 25,885 $ 13,518 $ 19,289