XML 37 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Condensed Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Product revenues $ 206,182 $ 160,520 $ 400,120 $ 308,610
Cost of sales 145,425 120,368 282,338 229,407
Gross margin 60,757 40,152 117,782 79,203
Operating expenses:        
Net research and development expenses 14,550 12,403 27,595 24,244
Acquisition transaction expenses   422 1,075 1,585
Selling, general and administrative 21,972 18,908 40,061 35,164
Total operating expenses 36,522 31,733 68,731 60,993
Operating income 24,235 8,419 49,051 18,210
Interest expense (970) (873) (1,901) (1,854)
Revaluation of derivatives (340) 638 (587) 984
Foreign currency (loss) gain (320) (889) (1,843) 98
Gain realized from step acquisition of subsidiary     785  
Income from equity investment   17   242
Other income (expense) 320 164 301 500
Earnings before income tax 22,925 7,476 45,806 18,180
Income tax expense 6,502 1,948 12,804 2,743
Net income 16,423 5,528 33,002 15,437
Income attributable to non-controlling interest   (19)   (1,277)
Net income attributable to Gentherm Incorporated 16,423 5,509 33,002 14,160
Convertible preferred stock dividends   (540)   (1,463)
Net income attributable to common shareholders $ 16,423 $ 4,969 $ 33,002 $ 12,697
Basic earnings per share $ 0.46 $ 0.15 $ 0.94 $ 0.38
Diluted earnings per share $ 0.46 $ 0.15 $ 0.92 $ 0.37
Weighted average number of shares – basic 35,360,957 32,658,311 35,213,135 33,698,083
Weighted average number of shares – diluted 36,093,600 33,167,228 35,841,228 34,143,258