Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Income

v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net sales $ 656,053 $ 568,504 $ 568,178
Cost of Product and Service Sold 481,373 421,667 433,908
Gross profit 174,680 146,837 134,270
Selling, general, and administrative expense 94,891 91,682 78,841
Impairment charges [1] 0 1,224 0
Gain on sale leaseback transaction 0 (42,298) 0
Intangibles amortization 6,181 7,520 10,520
Income from operations 73,608 88,709 44,909
Interest expense, net (12,114) (15,260) (15,675)
Debt modification expense (176) 0 0
Loss on extinguishment of debt (156) 0 0
Other income, net 344 442 0
Income before taxes 61,506 73,891 29,234
Income tax expense 14,609 17,740 5,511
Net income $ 46,897 $ 56,151 $ 23,723
Earnings per common share:      
Basic (in dollars per share) $ 1.99 $ 2.39 $ 1.01
Diluted (in dollars per share) 1.96 2.36 0.98
Cash dividends declared and paid per share (in dollars per share) $ 1.18 $ 1.18 $ 1.18
[1] Reflects impairment charges taken on certain internally developed software in the year ended December 31, 2024.