Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Net sales $ 95,655 $ 82,545
Cost of sales 76,735 71,270
Gross profit 18,920 11,275
Selling, general, and administrative expense 21,488 22,442
Impairment charges [1] 1,224 0
Intangibles amortization 2,630 2,630
Loss from operations (6,422) (13,797)
Interest expense, net (3,524) (2,864)
Other income, net 3 35
Loss before taxes (9,943) (16,626)
Income tax benefit (1,591) (3,516)
Net loss $ (8,352) $ (13,110)
Weighted average number of common shares outstanding:    
Basic (in shares) 23,009,369 22,906,845
Diluted (in shares) 23,009,369 22,906,845
Loss per common share:    
Basic (in dollars per share) $ (0.37) $ (0.58)
Diluted (in dollars per share) (0.37) (0.58)
Cash dividends declared and paid per share (in dollars per share) $ 0.3 $ 0.3
Comprehensive loss $ (8,012) $ (14,699)
[1] Reflects impairment charges taken on certain internally developed software in the three months ended March 31, 2024.