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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net sales $ 18,154,000 $ 12,304,000
Cost of goods sold, excluding depreciation and amortization 9,600,000 7,500,000
Gross profit 8,554,000 4,804,000
Operating expenses:    
Selling, general and administrative 4,102,000 3,675,000
Depreciation and amortization 182,000 127,000
Total operating expenses 4,284,000 3,802,000
Income from operations 4,270,000 1,002,000
Other income (loss):    
Equity in income of unconsolidated affiliate 87,000 277,000
Gain (loss) on marketable securities (59,000) 170,000
Interest income, net 16,000 12,000
Total other income 44,000 459,000
Income before provision (benefit) for income taxes 4,314,000 1,461,000
Provision (benefit) for income taxes (1,028,000) 243,000
Net income $ 5,342,000 $ 1,218,000
Basic earnings per common share (in dollars per share) $ 0.41 $ 0.09
Diluted earnings per common share (in dollars per share) $ 0.39 $ 0.09
Basic weighted average common shares outstanding (in shares) 13,121,867 13,391,992
Diluted weighted average common shares outstanding (in shares) 13,664,710 13,469,497