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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net sales $ 280.2 $ 279.1 $ 538.3 $ 542.4
Cost of sales 174.1 164.2 333.3 314.2
Gross profit 106.1 114.9 205.0 228.2
Selling and administrative expense 79.1 86.2 155.7 165.6
Research and development expense 7.9 8.3 15.6 15.7
Gain on sale of assets (3.7) 0.0 (3.7) (9.8)
Operating income 22.8 20.4 37.4 56.7
Interest expense, net (1.2) (2.1) (1.5) (6.0)
Net foreign currency transaction (loss) gain (1.0) 0.0 (0.4) 0.5
Loss on extinguishment of debt 0.0 11.3 0.0 11.3
Other (expense) income, net (0.3) 0.2 (0.5) 0.3
Income before income taxes 20.3 7.2 35.0 40.2
Income tax expense (benefit) 3.7 (2.6) 8.1 4.7
Net income $ 16.6 $ 9.8 $ 26.9 $ 35.5
Net income per share        
Basic (in dollars per share) $ 0.90 $ 0.53 $ 1.46 $ 1.92
Diluted (in dollars per share) $ 0.89 $ 0.51 $ 1.44 $ 1.88
Weighted average shares outstanding        
Basic (in shares) 18,507,073 18,547,276 18,485,367 18,501,930
Diluted (in shares) 18,683,798 18,931,703 18,735,913 18,879,616