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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net sales $ 34,215 $ 34,888
Cost of goods sold 28,767 29,404
Gross profit 5,448 5,484
Operating Expenses    
Selling expenses 805 890
General and administrative expenses 3,170 3,265
Research and development expenses 318 276
Total operating expenses 4,293 4,431
Income from operations 1,155 1,053
Other expense    
Interest expense (167) (110)
Total other expense (167) (110)
Income before income taxes 988 943
Income tax expense 223 262
Net income $ 765 $ 681
Income per common share: (in dollars per share) $ 0.28 $ 0.25
Weighted average number of common shares outstanding - basic (in shares) 2,742,511 2,692,033
Diluted (in dollars per share) $ 0.26 $ 0.23
Weighted average number of common shares outstanding - dilutive (in shares) 2,908,457 2,903,635
Other comprehensive income    
Foreign currency translation (loss) gain $ (183) $ 40
Comprehensive income, net of tax $ 582 $ 721