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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE:        
Material sales $ 46,828 $ 22,315 $ 93,465 $ 46,619
Royalty and license fees 53,667 42,018 60,692 47,360
Contract research services 2,018 59 3,922 116
Total revenue 102,513 64,392 158,079 94,095
COST OF SALES 11,310 5,684 24,297 10,736
Gross margin 91,203 58,708 133,782 83,359
OPERATING EXPENSES:        
Research and development 10,685 10,969 22,503 21,445
Selling, general and administrative 9,839 7,688 19,916 14,264
Amortization of acquired technology and other intangible assets 5,495 2,830 10,987 5,579
Patent costs 1,674 1,230 3,221 2,575
Royalty and license expense 2,991 1,966 4,578 2,841
Total operating expenses 30,684 24,683 61,205 46,704
OPERATING INCOME 60,519 34,025 72,577 36,655
Interest income, net 796 653 1,467 978
Other income (expense), net 6 (1,829) (13) (1,914)
Interest and other income, net 802 (1,176) 1,454 (936)
INCOME BEFORE INCOME TAXES 61,321 32,849 74,031 35,719
INCOME TAX EXPENSE (14,134) (11,047) (16,479) (11,968)
NET INCOME $ 47,187 $ 21,802 $ 57,552 $ 23,751
NET INCOME PER COMMON SHARE:        
BASIC $ 0.99 $ 0.46 $ 1.21 $ 0.51
DILUTED $ 0.99 $ 0.46 $ 1.21 $ 0.51
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:        
BASIC 46,742,746 46,927,543 46,702,376 46,862,199
DILUTED 46,810,238 47,041,854 46,781,120 46,985,374
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.03   $ 0.06