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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Sales        
Products $ 145,467 $ 136,277 $ 444,607 $ 398,709
Services 39,645 32,613 95,457 75,086
Total Sales 185,112 168,890 540,064 473,795
Cost of sales        
Products 73,528 70,988 229,845 202,905
Services 25,086 22,094 65,374 50,333
Total Cost of Sales 98,614 93,082 295,219 253,238
Gross Profit 86,498 75,808 244,845 220,557
Selling, general and administrative expenses 34,652 33,716 104,102 97,367
Research and development expenses 33,528 31,962 98,945 92,727
Operating Income 18,318 10,130 41,798 30,463
Interest and dividend income 952 910 2,857 2,692
Interest expense (139) (143) (417) (430)
Net realized investment gain 1,009 1,316 2,869 4,154
Other expense, net (933) (246) (1,686) (378)
Gain on bargain purchase of a business   3,550   3,550
Income before provision for income taxes 19,207 15,517 45,421 40,051
Provision for income taxes (3,309) (3,102) (10,471) (12,394)
Net Income $ 15,898 $ 12,415 $ 34,950 $ 27,657
Weighted average shares outstanding – basic 47,870 48,470 48,110 48,839
Weighted average shares outstanding – diluted 48,531 48,678 48,618 49,036
Earnings per common share – basic $ 0.33 $ 0.26 $ 0.73 $ 0.57
Earnings per common share – diluted 0.33 0.26 0.72 0.56
Dividend per share $ 0.09 $ 0.09 $ 0.27 $ 0.27