Consolidated Statements of Income
(000's except for per share amounts)
(Unaudited)
Three Months Nine Months
Ending Ending
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9/30/96 9/30/95 9/30/96 9/30/95
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Net sales $ 20,002 $ 23,531 $ 74,378 $ 60,992
Cost of goods sold 16,124 17,494 58,976 45,825
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Gross profit 3,878 6,037 15,402 15,167
Operating expenses:
Selling 2,199 2,442 6,856 6,180
General and administrative 924 738 2,621 1,776
Research and development 715 447 1,945 1,233
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Total operating expenses 3,838 3,627 11,422 9,189
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Operating profit 40 2,410 3,980 5,978
Net interest income 144 32 128 82
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Income before taxes 184 2,442 4,108 6,060
Income tax expense (benefit) (69) 900 1,385 2,315
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Net income $ 253 $ 1,542 $ 2,723 $ 3,745
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Earnings per share:
Primary $ 0.03 $ 0.25 $ 0.38 $ 0.62
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Fully diluted $ 0.03 $ 0.25 $ 0.38 $ 0.61
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Average number of shares outstanding:
Primary 7,482 6,209 7,096 6,034
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Fully diluted 7,510 6,238 7,096 6,186
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