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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
NET SALES $ 10,489 $ 7,928 $ 20,074 $ 14,784
Cost of sales 8,183 6,325 15,677 11,531
GROSS MARGIN 2,306 1,603 4,397 3,253
Technical services and research and development 66 61 132 118
Selling, general and administrative expenses 1,065 971 2,224 1,820
OPERATING INCOME 1,175 571 2,041 1,315
OTHER EXPENSE:        
Interest expense (101) (112) (197) (233)
(Loss) gain on foreign currency exchange rate (9) 34 (57) 6
Other, net 7   7  
INCOME BEFORE INCOME TAX 1,072 493 1,794 1,088
Income tax expense 91 23 138 34
NET INCOME 981 470 1,656 1,054
Less: Preferred Stock Dividends   15 15 30
Basic Income Available to Common Shareholders 981 455 1,641 1,024
Plus: 6% Convertible Debenture Interest Expense 22 23 44 45
Plus: Preferred Stock Dividends     15  
Diluted Income Available to Common Shareholders $ 1,003 $ 478 $ 1,700 $ 1,069
Income per common share:        
Basic (in dollars per share) $ 0.47 $ 0.24 $ 0.81 $ 0.54
Diluted (in dollars per share) $ 0.30 $ 0.17 $ 0.53 $ 0.39
Weighted average common shares outstanding:        
Basic (in dollars) 2,091 1,897 2,017 1,894
Diluted (in dollars) 3,293 2,813 3,216 2,712