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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 116,752 $ 118,141 $ 276,241 $ 278,198
Gross profit 3,870 19,985 16,901 13,807
Selling, general, and administrative expenses        
Compensation expense 1,010 979 3,102 2,336
Other expense 1,247 995 3,130 2,844
Related party expense 153 154 462 458
Research and development expenses 1,163 967 3,242 2,401
Total operating expenses 3,573 3,095 9,936 8,039
Income from operations 297 16,890 6,965 5,768
Interest and dividend income 2,527 1,210 6,595 2,621
Interest expense (36) (32) (103) (97)
(Loss) gain on marketable securities 0 (590) 575 (7,956)
Other expense 0 (1) 0 (3)
Other income (expense) 2,491 587 7,067 (5,435)
Income before taxes 2,788 17,477 14,032 333
Income tax provision 12 1,697 34 55
Net income $ 2,776 $ 15,780 $ 13,998 $ 278
Earnings per common share        
Basic (in dollars per share) $ 0.06 $ 0.36 $ 0.32 $ 0.01
Diluted (in dollars per share) $ 0.06 $ 0.36 $ 0.32 $ 0.01
Weighted average shares outstanding        
Basic (in shares) 43,763,243 43,763,243 43,763,243 43,763,243
Diluted (in shares) 43,765,709 43,763,243 43,765,163 43,763,243
Comprehensive income        
Net income $ 2,776 $ 15,780 $ 13,998 $ 278
Other comprehensive (loss) income from unrealized net (losses) gains on available-for-sale debt securities 0 (71) 2 (219)
Income tax effect 0 15 (1) 46
Total other comprehensive (loss) income, net of tax 0 (56) 1 (173)
Comprehensive income 2,776 15,724 13,999 105
Nonrelated Party [Member]        
Revenue 116,752 118,108 276,221 277,822
Nonrelated Party [Member] | Excluding Shipping and Handling [Member]        
Cost of goods sold 113,328 96,459 257,890 257,476
Nonrelated Party [Member] | Shipping and Handling [Member]        
Cost of goods sold 244 788 2,018 2,696
Related Party [Member]        
Revenue 0 33 20 376
Related Party [Member] | Excluding Shipping and Handling [Member]        
Cost of goods sold (728) 873 (700) 4,089
Related Party [Member] | Shipping and Handling [Member]        
Cost of goods sold $ 38 $ 36 $ 132 $ 130