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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, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net Sales $ 35,276 $ 29,452 $ 98,505 $ 81,706
Cost of Goods Sold 28,948 21,411 83,129 68,519
Gross Profit 6,328 8,041 15,376 13,187
Operating Expenses        
Selling Expenses 959 449 2,752 1,741
General and Administrative Expenses 2,949 2,045 8,346 7,247
Research and Development Expenses 475 141 1,154 348
Restructuring Charges 0 23 0 319
Loss on Abandonment of Intangible Assets 0 560 0 560
Gain on Sale of Assets 0 (93) (15) (176)
Total Operating Expenses 4,383 3,125 12,237 10,039
Income From Operations 1,945 4,916 3,139 3,148
Other Expense        
Interest Expense (122) (112) (337) (314)
Income Before Income Taxes 1,823 4,804 2,802 2,834
Income Tax Expense 289 1,247 411 646
Net Income $ 1,534 $ 3,557 $ 2,391 $ 2,188
Net Income Per Common Share:        
Basic (in dollars per share) (in dollars per share) $ 0.57 $ 1.33 $ 0.89 $ 0.82
Weighted Average Number of Common Shares Outstanding - Basic (in shares) (in shares) 2,686,884 2,665,682 2,683,594 2,662,066
Diluted (in dollars per share) (in dollars per share) $ 0.53 $ 1.24 $ 0.83 $ 0.78
Weighted Average Number of Common Shares Outstanding - Diluted (in shares) (in shares) 2,899,526 2,880,073 2,886,073 2,806,958
Other comprehensive income        
Foreign currency translation $ (365) $ (5) $ (604) $ 20
Comprehensive income, net of tax $ 1,169 $ 3,552 $ 1,787 $ 2,208