Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
Mar. 31, 2019	Mar. 31, 2018
Net sales	$ 47,328	$ 42,931
Cost of sales	34,831	32,746
Gross profit	12,497	10,185
Selling, general & administrative expenses	7,244	6,592
Acquisition related costs	0	1,069
Gain on sale of fixed assets	0	(40)
Operating income	5,253	2,564
Interest income	0	(25)
Interest expense	231	273
Other expense (income)	239	(50)
Income before income tax expense	4,783	2,366
Income tax expense	1,049	589
Net income	$ 3,734	$ 1,777
Net income per share:
Basic (in dollars per share)	$ 0.50	$ 0.24
Diluted (in dollars per share)	$ 0.50	$ 0.24
Weighted average common shares outstanding:
Basic (in shares)	7,402	7,300
Diluted (in shares)	7,466	7,378

This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 25
-Paragraph 23
-URI http://asc.fasb.org/extlink&oid=116868678&loc=d3e1043-128460