CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Revenues	$ 63,675	$ 59,580
Cost of goods sold	45,398	42,080
Gross margin	18,277	17,500
Operating costs and expenses:
Selling	2,424	2,208
General and administrative	6,409	5,553
Engineering and development	4,050	3,446
Business development	83
Amortization of intangible assets	779	662
Total operating costs and expenses	13,745	11,869
Operating income	4,532	5,631
Other expense (income):
Interest expense	1,532	1,515
Other expense, net	15	(266)
Total other expense, net	1,547	1,249
Income before income taxes	2,985	4,382
Provision for income taxes	(858)	(1,406)
Net income	$ 2,127	$ 2,976
Basic earnings per share:
Earnings per share (in dollars per share)	$ 0.23	$ 0.32
Basic weighted average common shares (in shares)	9,273	9,208
Diluted earnings per share:
Earnings per share (in dollars per share)	$ 0.23	$ 0.32
Diluted weighted average common shares (in shares)	9,273	9,208
Net income	$ 2,127	$ 2,976
Foreign currency translation adjustment	2,029	(4,479)
Change in accumulated (loss) income on derivatives	(104)	(100)
Comprehensive income (loss)	$ 4,052	$ (1,603)

The aggregate total amount of expenses related to the Engineering of products or services not directly associated with the manufacture or sale of a product line, and the aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility.

No definition available.