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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE:        
Total revenue $ 146,565 $ 136,561 $ 277,032 $ 287,031
COST OF SALES 32,139 27,239 65,109 60,402
Gross margin 114,426 109,322 211,923 226,629
OPERATING EXPENSES:        
Research and development 32,318 28,197 63,741 54,742
Selling, general and administrative 17,077 19,869 32,473 40,931
Amortization of acquired technology and other intangible assets 3,994 5,502 6,885 11,000
Patent costs 2,229 2,259 4,484 4,057
Royalty and license expense 169 181 333 335
Total operating expenses 55,787 56,008 107,916 111,065
OPERATING INCOME 58,639 53,314 104,007 115,564
Interest income, net 6,198 1,583 13,165 1,874
Other (loss) income, net (784) 89 (1,487) 55
Interest and other income, net 5,414 1,672 11,678 1,929
INCOME BEFORE INCOME TAXES 64,053 54,986 115,685 117,493
Income tax expense (benefit) (14,375) (13,484) (26,168) (26,021)
NET INCOME $ 49,678 $ 41,502 $ 89,517 $ 91,472
NET INCOME PER COMMON SHARE:        
BASIC $ 1.04 $ 0.87 $ 1.87 $ 1.92
DILUTED $ 1.04 $ 0.87 $ 1.87 $ 1.92
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER OMMON SHARE:        
BASIC 47,572,971 47,393,830 47,548,404 47,381,864
DILUTED 47,618,115 47,457,892 47,593,657 47,451,354
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.35 $ 0.30 $ 0.70 $ 0.60
Material Sales        
REVENUE:        
Total revenue $ 77,107 $ 71,869 $ 147,297 $ 158,560
Royalty And License Fees        
REVENUE:        
Total revenue 64,399 60,278 119,609 120,080
Contract Research Services        
REVENUE:        
Total revenue $ 5,059 $ 4,414 $ 10,126 $ 8,391