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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 85,814 $ 108,330 $ 177,485 $ 205,189
Cost of products sold 63,965 80,138 132,188 153,684
Gross profit 21,849 28,192 45,297 51,505
Selling, general and administrative expenses 12,852 14,988 27,723 29,351
Operating income 8,997 13,204 17,574 22,154
Other income (expense), net (1,930) 231 (3,617) 523
Income before income taxes 7,067 13,435 13,957 22,677
Income taxes 1,433 2,955 2,837 4,975
Net income $ 5,634 $ 10,480 $ 11,120 $ 17,702
Earnings per share (in dollars per share) $ 0.22 $ 0.4 $ 0.43 $ 0.68
Cash dividends per share (in dollars per share) $ 0.145 $ 0.135 $ 0.29 $ 0.27
Average number of shares outstanding (in shares) 26,091,492 26,124,216 26,083,056 26,121,568