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v3.3.0.814

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
Net sales | $ 112,008 | $ 93,972 | $ 292,776 | $ 244,085
Cost of sales | 96,700 | 75,344 | 243,637 | 198,131
Gross profit | 15,308 | 18,628 | 49,139 | 45,954
Operating expenses: |  |  |  |
Research & development and engineering | 5,562 | 4,501 | 16,973 | 11,844
Selling and service | 2,979 | 2,706 | 8,525 | 6,871
General and administrative | 4,280 | 3,410 | 10,953 | 9,814
Amortization of intangible assets | 1,099 | 492 | 2,755 | 492
Total operating expenses | 13,920 | 11,109 | 39,206 | 29,021
Operating income | 1,388 | 7,519 | 9,933 | 16,933
Other (income) expense: |  |  |  |
Interest expense | 1,374 | 407 | 2,986 | 887
Contingent consideration | (50) | (3,208) | (50) | (3,782)
Private placement warrant | (8,750) | (858) | (8,040) | (1,190)
Other expense, net | 171 | 34 | 260 | 109
Total other (income) | (7,255) | (3,625) | (4,844) | (3,976)
Income before income taxes | 8,643 | 11,144 | 14,777 | 20,909
Income tax (benefit) provision | (466) | 3,996 | 2,203 | 7,504
Net income | $ 9,109 | $ 7,148 | $ 12,574 | $ 13,405
Common Shares [Member] |  |  |  |
Weighted-average common shares outstanding: |  |  |  |
Basic | 10,814,765 | 10,794,229 | 10,804,720 | 10,676,792
Diluted | 11,068,925 | 11,167,598 | 11,120,721 | 11,125,116
Earnings per share-basic Common shares | $ 0.84 | $ 0.66 | $ 1.16 | $ 1.26
Earnings per share-diluted Common shares | $ 0.03 | $ 0.56 | $ 0.41 | $ 1.10

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