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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue $ 368,250 $ 396,014 $ 321,386
Gross profit 40,979 28,993 23,537
Selling, general, and administrative expenses      
Compensation expense 4,545 3,540 2,586
Other expense 4,052 3,881 3,920
Related party expense 616 611 649
Research and development expenses 4,398 3,415 3,484
Total operating expenses 13,611 11,447 10,639
Income from operations 27,368 17,546 12,898
Interest and dividend income 9,577 4,870 3,119
Interest expense (138) (128) (131)
Gain (loss) on marketable securities 575 (8,546) (70)
Other income (expense) 1 (4) 114
Other income (expense) 10,015 (3,808) 3,032
Income before income taxes 37,383 13,738 15,930
Income tax provision (benefit) 1 (1,473) (10,325)
Net income $ 37,382 $ 15,211 $ 26,255
Earnings per common share      
Basic (in dollars per share) $ 0.85 $ 0.35 $ 0.6
Diluted (in dollars per share) $ 0.85 $ 0.35 $ 0.6
Weighted average shares outstanding      
Basic (in shares) 43,763,243 43,763,243 43,756,065
Diluted (in shares) 43,764,683 43,763,489 43,756,113
Net income $ 37,382 $ 15,211 $ 26,255
Other comprehensive income (loss) from unrealized net losses on available-for- sale debt securities 2 (227) (38)
Income tax effect (1) 48 8
Total unrealized gain (loss), net of tax 1 (179) (30)
Comprehensive income 37,383 15,032 26,225
Non-related Parties [Member]      
Revenue 368,228 395,555 320,125
Cost of goods sold 324,311 357,182 274,293
Non-related Parties [Member] | Shipping and Handling [Member]      
Cost of goods sold 3,099 4,240 6,787
Related Parties [Member]      
Revenue 22 459 1,261
Cost of goods sold – related parties (315) 5,425 16,593
Related Parties [Member] | Shipping and Handling [Member]      
Cost of goods sold $ 176 $ 174 $ 176