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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Summary of Available-for-sale Securities

The following is a summary of our available-for-sale securities as of September 30, 2019 and December 31, 2018:

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed investment certificates

 

$

24,181

 

 

$

 

 

$

 

 

$

24,181

 

Corporate bonds

 

 

91,637

 

 

 

286

 

 

 

(326

)

 

 

91,597

 

Total available-for-sale securities

 

$

115,818

 

 

$

286

 

 

$

(326

)

 

$

115,778

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Guaranteed investment certificates

 

$

23,096

 

 

$

 

 

$

 

 

$

23,096

 

Corporate bonds

 

 

90,707

 

 

 

 

 

 

(917

)

 

 

89,790

 

Total available-for-sale securities

 

$

113,803

 

 

$

 

 

$

(917

)

 

$

112,886

 

At September 30, 2019, maturities of our available-for-sale

   securities were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than one year

 

$

78,271

 

 

$

183

 

 

$

(239

)

 

$

78,215

 

Greater than one year

 

$

37,547

 

 

$

103

 

 

$

(87

)

 

$

37,563

 

Schedule of Inventories Inventories are stated at the lower of cost or net realizable value with cost determined on a first-in, first-out basis, and consist of the following:

 

 

September 30,

2019

 

 

December 31,

2018

 

Raw materials

 

$

14,425

 

 

$

14,092

 

Work in process

 

 

838

 

 

 

544

 

Finished goods

 

 

9,777

 

 

 

8,252

 

 

 

$

25,040

 

 

$

22,888

 

 

Computations of Basic and Diluted Earnings Per Share

The computations of basic and diluted earnings per share are as follows:

 

 

 

Three Months

 

 

Nine Months

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

13,078

 

 

$

8,096

 

 

$

14,218

 

 

$

10,098

 

Weighted-average shares of common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

61,726

 

 

 

61,208

 

 

 

61,656

 

 

 

61,059

 

Dilutive effect of stock options, restricted stock, and performance stock units

 

 

417

 

 

 

1,398

 

 

 

516

 

 

 

1,480

 

Diluted

 

 

62,143

 

 

 

62,606

 

 

 

62,172

 

 

 

62,539

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.21

 

 

$

0.13

 

 

$

0.23

 

 

$

0.17

 

Diluted

 

$

0.21

 

 

$

0.13

 

 

$

0.23

 

 

$

0.16