Condensed Consolidated Statements of Operations (Unaudited)
|
Three Months Ended |
||||||
(DOLLARS AND SHARES IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) |
March 31, 2023 |
|
March 31, 2022 |
||||
Net sales |
$ |
243,847 |
|
|
$ |
248,266 |
|
Cost of sales |
|
164,146 |
|
|
|
162,872 |
|
Gross margin |
|
79,701 |
|
|
|
85,394 |
|
|
|
|
|
||||
Selling, general and administrative expenses |
|
60,085 |
|
|
|
57,705 |
|
Research and development expenses |
|
9,586 |
|
|
|
8,260 |
|
Restructuring and impairment charges |
|
10,501 |
|
|
|
69 |
|
Other operating (income) expense, net |
|
(219 |
) |
|
|
(531 |
) |
Operating income |
|
(252 |
) |
|
|
19,891 |
|
|
|
|
|
||||
Equity income in unconsolidated joint ventures |
|
76 |
|
|
|
1,275 |
|
Other income (expense), net |
|
5 |
|
|
|
267 |
|
| Interest expense, net |
|
(3,462 |
) |
|
|
(1,069 |
) |
| Income before income tax expense |
|
(3,633 |
) |
|
|
20,364 |
|
| Income tax expense (benefit) |
|
(128 |
) |
|
|
3,764 |
|
| Net income |
$ |
(3,505 |
) |
|
$ |
16,600 |
|
|
|
|
|
|
||||
| Basic earnings per share |
$ |
(0.19 |
) |
|
$ |
0.88 |
|
|
|
|
|
|
||||
| Diluted earnings per share |
$ |
(0.19 |
) |
|
$ |
0.87 |
|
|
|
|
|
|
||||
| Shares used in computing: |
|
|
|
||||
| Basic earnings per share |
|
18,604 |
|
|
|
18,780 |
|
| Diluted earnings per share |
|
18,604 |
|
|
|
18,999 |
|
Condensed Consolidated Statements of Financial Position (Unaudited)
