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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net Sales $ 33,369 $ 35,276 $ 103,278 $ 98,505
Cost of Goods Sold 28,050 28,948 87,001 83,129
Gross Profit 5,319 6,328 16,277 15,376
Operating Expenses        
Selling Expenses 923 959 2,766 2,752
General and Administrative Expenses 2,958 2,949 9,328 8,346
Research and Development Expenses 314 475 907 1,154
Gain on Sale of Assets 0 0 0 (15)
Total Operating Expenses 4,195 4,383 13,001 12,237
Income From Operations 1,124 1,945 3,276 3,139
Other Expense        
Interest Expense (130) (122) (365) (337)
Income Before Income Taxes 994 1,823 2,911 2,802
Income Tax (Benefit) Expense (213) 289 389 411
Net Income $ 1,207 $ 1,534 $ 2,522 $ 2,391
Net Income Per Common Share:        
Basic (in dollars per share) (in dollars per share) $ 0.44 $ 0.57 $ 0.93 $ 0.89
Weighted Average Number of Common Shares Outstanding - Basic (in shares) (in shares) 2,737,895 2,686,884 2,716,166 2,683,594
Diluted (in dollars per share) (in dollars per share) $ 0.42 $ 0.53 $ 0.87 $ 0.83
Weighted Average Number of Common Shares Outstanding - Diluted (in shares) (in shares) 2,888,679 2,899,526 2,887,889 2,886,073
Other comprehensive income        
Foreign currency translation $ (77) $ (365) $ (318) $ (604)
Comprehensive income, net of tax $ 1,130 $ 1,169 $ 2,204 $ 1,787