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Consolidated Income Statements (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Gross sales $ 112,233 $ 99,867 $ 350,431 $ 312,856
Commissions, allowances and rebates 225 565 1,468 1,901
Net sales 112,008 99,302 348,963 310,955
Other revenues, net 611 97 3,216 1,823
Net revenue 112,619 99,399 352,179 312,778
Cost of goods sold 65,730 61,797 200,963 187,720
Gross profit 46,889 37,602 151,216 125,058
Operating expenses:        
Selling, general and administrative expenses 17,551 14,950 51,785 42,602
Research and development expenses 4,233 3,193 12,590 10,796
Total operating expenses 21,784 18,143 64,375 53,398
Operating profit 25,105 19,459 86,841 71,660
Other expenses/(income):        
Interest expense, net 337 366 991 357
Other (income)/expenses, net (6) (71) (149) 143
Income before income taxes 24,774 19,164 85,999 71,160
Provision for income taxes 7,498 5,443 22,484 21,784
Income from continuing operations 17,276 13,721 63,515 49,376
Income/(loss) from discontinued operations, net of tax 20 (4,503) (1,324) (5,082)
Net income $ 17,296 $ 9,218 $ 62,191 $ 44,294
Basic earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) $ 0.53 $ 0.43 $ 1.95 $ 1.54
Income/(loss) from discontinued operations, net of tax (in dollars per share) 0 (0.14) (0.04) (0.16)
Net income (in dollars per share) 0.53 0.29 1.91 1.38
Diluted earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) 0.52 0.42 1.90 1.50
Income/(loss) from discontinued operations, net of tax (in dollars per share) 0 (0.14) (0.04) (0.15)
Net income (in dollars per share) $ 0.52 $ 0.28 $ 1.86 $ 1.35
Weighted average shares outstanding:        
Basic (in shares) 32,749 32,149 32,612 32,034
Effect of dilutive stock based compensation (in shares) 763 850 839 871
Diluted (in shares) 33,512 32,999 33,451 32,905