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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 25,500,000 $ 11,415,000 $ 43,654,000 $ 23,718,000
Cost of goods sold, excluding depreciation and amortization 12,887,000 7,309,000 22,487,000 14,809,000
Gross profit 12,613,000 4,106,000 21,167,000 8,909,000
Operating expenses:        
Selling, general and administrative 4,553,000 3,262,000 8,656,000 6,937,000
Depreciation and amortization 178,000 140,000 360,000 267,000
Total operating expenses 4,731,000 3,402,000 9,016,000 7,204,000
Income from operations 7,882,000 704,000 12,151,000 1,705,000
Other income:        
Equity in income of unconsolidated affiliate 119,000 84,000 206,000 361,000
Gain (loss) on marketable securities 41,000 439,000 (18,000) 609,000
Interest income, net 21,000 16,000 34,000
Total other income 160,000 544,000 204,000 1,004,000
Income before provision for income taxes 8,042,000 1,248,000 12,355,000 2,709,000
Provision for income taxes 1,822,000 238,000 794,000 481,000
Net income $ 6,220,000 $ 1,010,000 $ 11,561,000 $ 2,228,000
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.08 $ 0.87 $ 0.17
Diluted earnings per common share (in dollars per share) $ 0.46 $ 0.08 $ 0.84 $ 0.17
Basic weighted average common shares outstanding (in shares) 13,351,675 13,184,321 13,351,674 13,287,583
Diluted weighted average common shares outstanding (in shares) 13,651,995 13,208,138 13,813,094 13,346,146