XML 13 R2.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Net Sales $ 134,123 $ 115,168
Cost of Goods Sold 113,643 99,304
Gross Profit 20,480 15,864
Operating Expenses:    
Selling Expenses 3,719 2,361
General and Administrative Expenses 11,425 10,002
Restructuring Expenses 0 327
R&D Expenses 1,463 483
Loss on Abandonment of Intangible Asset 0 560
Gain on Sale of Property and Equipment (15) (141)
Total Operating Expenses 16,592 13,592
Income from Operations 3,888 2,272
Other (Expense) Income    
Interest Expense (411) (430)
PPP Loan Forgiviness Gain 0 6,171
Total Other (Expense) Income (411) 5,741
Income Before Income Taxes 3,477 8,013
Income Tax Expense 1,467 859
Net Income $ 2,010 $ 7,154
Income Per Common Share:    
Basic (in dollars per share) $ 0.75 $ 2.68
Weighted Average Number of Common Shares Outstanding - Basic (in shares) 2,685,378 2,664,586
Diluted (in dollars per share) $ 0.70 $ 2.54
Weighted Average Number of Common Shares Outstanding - Dilutive (in shares) 2,891,285 2,821,523
Other comprehensive income    
Foreign currency translation $ (426) $ 93
Comprehensive income, net of tax $ 1,584 $ 7,247