Income Statement

v3.10.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Net sales $ 32,776 $ 30,635 $ 94,506 $ 92,885
Cost of goods sold 28,576 25,798 82,107 78,389
Gross profit 4,200 4,837 12,399 14,496
Research and development costs 485 503 1,407 1,561
Selling, general and administrative expense 2,662 2,857 9,004 8,340
Operating income 1,053 1,477 1,988 4,595
Other income (expense)        
Interest expense (491) (698) (1,413) (2,463)
Other income (expense) 2   8 1
Total other expense (489) (698) (1,405) (2,462)
Income before taxes 564 779 583 2,133
Income tax expense (benefit) (35) 257 (28) (372)
Net income $ 599 $ 522 $ 611 $ 2,505
Earnings per share:        
Basic net income per share $ 0.06 $ 0.05 $ 0.06 $ 0.28
Diluted net income per share $ 0.06 $ 0.05 $ 0.06 $ 0.28
Weighted average common shares outstanding:        
Basic weighted average common shares outstanding 9,834 9,800 9,824 8,897
Diluted weighted average common shares outstanding 9,834 9,800 9,824 8,897
Pro forma (C corporation basis):        
Pro forma tax expense       $ 768
Pro forma net income       $ 1,365
Pro forma earnings per share:        
Basic net income per share       $ 0.15
Diluted net income per share       $ 0.15

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