Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
Mar. 31, 2023	Mar. 31, 2022
Net sales	$ 97,753	$ 71,242
Cost of sales	69,052	54,108
Gross profit	28,701	17,134
Selling, general & administrative expenses	13,006	10,011
Acquisition costs	0	775
Change in fair value of contingent consideration	(2,853)	0
Loss (Gain) on disposal of property, plant & equipment	1	(12)
Operating income	12,841	6,360
Interest expense, net	869	327
Other expense (income)	77	(52)
Income before income tax expense	11,895	6,085
Income tax expense	2,156	1,227
Net income	$ 9,739	$ 4,858
Net income per share:
Basic (in dollars per share)	$ 1.28	$ 0.64
Diluted (in dollars per share)	$ 1.27	$ 0.64
Weighted average common shares outstanding:
Basic (in shares)	7,592	7,544
Diluted (in shares)	7,681	7,630
Comprehensive Income
Net income	$ 9,739	$ 4,858
Other comprehensive income:
Foreign currency translation gain	493	381
Other comprehensive gain	493	381
Comprehensive income	$ 10,232	$ 5,239

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
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 25
-Paragraph 23
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479405/805-10-25-23