Income Statement

v3.10.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Net sales $ 31,860 $ 34,240 $ 61,729 $ 62,250
Cost of goods sold 27,603 28,940 53,531 52,590
Gross profit 4,257 5,300 8,198 9,660
Research and development costs 451 521 922 1,058
Selling, general and administrative expense 2,934 2,770 6,341 5,483
Operating income 872 2,009 935 3,119
Other income (expense)        
Interest expense (464) (887) (922) (1,765)
Other income (expense)   1 7 1
Total other expense (464) (886) (915) (1,764)
Income before taxes 408 1,123 20 1,355
Income tax expense (benefit) 89 (629) 8 (629)
Net income $ 319 $ 1,752 $ 12 $ 1,984
Earnings per share:        
Basic net income per share $ 0.03 $ 0.20 $ 0.00 $ 0.24
Diluted net income per share $ 0.03 $ 0.20 $ 0.00 $ 0.24
Weighted average common shares outstanding:        
Basic weighted average common shares outstanding 9,823 8,870 9,820 8,435
Diluted weighted average common shares outstanding 9,823 8,870 9,820 8,435
Pro forma (C corporation basis):        
Pro forma tax expense   $ 404   $ 488
Pro forma net income   $ 719   $ 867
Pro forma earnings per share:        
Basic net income per share   $ 0.08   $ 0.10
Diluted net income per share   $ 0.08   $ 0.10

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