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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net sales $ 29,452 $ 26,362 $ 81,706 $ 80,263
Cost of Goods Sold 21,411 24,400 68,519 72,336
Gross Profit 8,041 1,962 13,187 7,927
Operating Expenses        
Selling Expenses 449 594 1,741 1,945
General and Administrative Expenses 2,045 2,480 7,247 6,654
Research and Development 141 0 348 0
Restructuring 23 0 319 0
Loss on Abandonment of Intangible Asset 560 0 560 0
Gain on Sale of Assets (93) (3,821) (176) (3,821)
Total Operating Expenses 3,125 (747) 10,039 4,778
Income From Operations 4,916 2,709 3,148 3,149
Other Expense        
Interest Expense (112) (126) (314) (526)
Income Before Income Taxes 4,804 2,583 2,834 2,623
Income Tax Expense 1,247 612 646 638
Net Income $ 3,557 $ 1,971 $ 2,188 $ 1,985
Net Income Per Common Share - Basic (in dollars per share) $ 1.33 $ 0.74 $ 0.82 $ 0.75
Weighted Average Number of Common Shares Outstanding - Basic (in shares) 2,665,682 2,657,530 2,662,066 2,657,530
Net Income Per Common Share - Diluted (in dollars per share) $ 1.24 $ 0.73 $ 0.78 $ 0.74
Weighted Average Number of Common Shares Outstanding - Diluted (in shares) 2,880,073 2,703,029 2,806,958 2,670,984
Other Comprehensive Income        
Foreign Currency Translation Gain (Loss) $ (5) $ 96 $ 20 $ 54
Comprehensive Income, Net of Tax $ 3,552 $ 2,067 $ 2,208 $ 2,039