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Consolidated Condensed Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Product revenues $ 171,182 $ 141,058 $ 479,792 $ 406,737
Cost of sales 125,265 104,203 354,672 303,110
Gross margin 45,917 36,855 125,120 103,627
Operating expenses:        
Net research and development expenses 12,718 10,257 36,962 30,566
Acquisition transaction expenses 326   1,911  
Selling, general and administrative 18,319 16,560 53,483 45,972
Total operating expenses 31,363 26,817 92,356 76,538
Operating income 14,554 10,038 32,764 27,089
Interest expense (1,062) (898) (2,916) (3,082)
Revaluation of derivatives 217 (993) 1,201 (1,056)
Foreign currency gain (loss) (1,612) (421) (1,514) 2,357
Income (loss) from equity investment 77 3 319 (228)
Other income 191 310 691 859
Earnings before income tax 12,365 8,039 30,545 25,939
Income tax expense 3,600 2,366 6,343 7,324
Net income 8,765 5,673 24,202 18,615
Gain attributable to non-controlling interest (63) (1,672) (1,340) (4,491)
Net income attributable to Gentherm Incorporated 8,702 4,001 22,862 14,124
Convertible preferred stock dividends (159) (1,516) (1,622) (5,521)
Net income attributable to common shareholders $ 8,543 $ 2,485 $ 21,240 $ 8,603
Basic earnings per share $ 0.25 $ 0.08 $ 0.64 $ 0.31
Diluted earnings per share $ 0.24 $ 0.08 $ 0.63 $ 0.30
Weighted average number of shares – basic 34,447,098 29,618,964 33,261,115 28,177,182
Weighted average number of shares – diluted 34,886,462 30,003,347 33,584,226 28,675,643