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Consolidated Income Statements (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Gross sales $ 92,350 $ 81,145 $ 276,913 $ 245,309
Commissions, allowances and rebates 615 504 1,431 1,678
Net sales 91,735 80,641 275,482 243,631
Other revenue 1,244 659 1,657 1,667
Net revenues 92,979 81,300 277,139 245,298
Cost of goods sold 57,299 52,894 166,435 166,899
Gross profit 35,680 28,406 110,704 78,399
Operating expenses:        
Selling, general and administrative expenses 13,989 12,541 41,818 38,734
Research and development expenses 3,672 3,839 9,030 9,945
Total operating expenses 17,661 16,380 50,848 48,679
Operating profit 18,019 12,026 59,856 29,720
Other expenses:        
Interest expense, net $ 517 $ 570 $ 1,467 1,635
Equity in losses of partially-owned affiliates 4,618
Other expense, net $ 296 $ 37 $ 126 16
Income before income taxes 17,206 11,419 58,263 23,451
Provision/(benefit) for income taxes 5,330 2,537 18,569 (6,424)
Income from continuing operations 11,876 8,882 39,694 29,875
Loss from discontinued operations, net of tax (129) (113) (291) (457)
Net income $ 11,747 $ 8,769 $ 39,403 $ 29,418
Basic earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) $ 0.38 $ 0.29 $ 1.27 $ 0.97
Loss from discontinued operations, net of tax (in dollars per share) 0 0 (0.01) (0.01)
Net income (in dollars per share) 0.37 0.28 1.26 0.96
Diluted earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) 0.36 0.28 1.22 0.95
Loss from discontinued operations, net of tax (in dollars per share) 0 0 (0.01) (0.01)
Net income (in dollars per share) $ 0.36 $ 0.28 $ 1.22 $ 0.93
Weighted average shares outstanding:        
Basic (in shares) 31,471 30,801 31,339 30,665
Effect of dilutive stock based compensation (in shares) 1,122 798 1,089 821
Diluted (in shares) 32,593 31,599 32,428 31,486