| Quarterly Results of Operations (Unaudited) |
Quarterly Results of Operations (Unaudited) The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2025, 2024 and 2023 (in thousands). | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 1st Quarter | | 2nd Quarter | | 3rd Quarter | | 4th Quarter | | Total Year | | 2025: | | | | | | | | | | | Product sales | $ | 61,012 | | | $ | 61,633 | | | $ | 54,178 | | | $ | 55,382 | | | $ | 232,205 | | | Tooling sales | 435 | | | 17,606 | | | 4,257 | | | 19,295 | | | 41,593 | | | Net sales | 61,447 | | | 79,239 | | | 58,435 | | | 74,677 | | | 273,798 | | | Gross margin | 11,783 | | | 14,314 | | | 10,145 | | | 11,340 | | | 47,582 | | | Operating income | 2,839 | | | 5,214 | | | 2,573 | | | 3,592 | | | 14,218 | | | Net income | 2,183 | | | 4,052 | | | 1,877 | | | 3,083 | | | 11,195 | | | Net income per share of common stock | | | | | | | | | | Basic (1) | $ | 0.25 | | | $ | 0.47 | | | $ | 0.22 | | | $ | 0.36 | | | $ | 1.31 | | Diluted (1) | $ | 0.25 | | | $ | 0.47 | | | $ | 0.22 | | | $ | 0.36 | | | $ | 1.29 | | | | | | | | | | | | | 2024: | | | | | | | | | | | Product sales | $ | 75,831 | | | $ | 83,956 | | | $ | 71,258 | | | $ | 60,047 | | | $ | 291,092 | | | Tooling sales | 2,314 | | | 4,787 | | | 1,734 | | | 2,451 | | | 11,286 | | | Net sales | 78,145 | | | 88,743 | | | 72,992 | | | 62,498 | | | 302,378 | | | Gross margin | 13,305 | | | 17,725 | | | 12,345 | | | 9,885 | | | 53,260 | | | Operating income | 4,732 | | | 7,489 | | | 3,605 | | | 869 | | | 16,695 | | | Net income (loss) | 3,759 | | | 6,419 | | | 3,160 | | | (39) | | | 13,299 | | | Net income (loss) per share of common stock | | | | | | | | | | Basic (1) | $ | 0.43 | | | $ | 0.74 | | | $ | 0.36 | | | $ | 0.00 | | | $ | 1.53 | | Diluted (1) | $ | 0.43 | | | $ | 0.73 | | | $ | 0.36 | | | $ | 0.00 | | | $ | 1.51 | | | | | | | | | | | | | 2023: | | | | | | | | | | | Product sales | $ | 98,337 | | | $ | 95,703 | | | $ | 80,896 | | | $ | 72,439 | | | $ | 347,375 | | | Tooling sales | 1,170 | | | 2,022 | | | 5,832 | | | 1,339 | | | 10,363 | | | Net sales | 99,507 | | | 97,725 | | | 86,728 | | | 73,778 | | | 357,738 | | | Gross margin | 17,743 | | | 20,562 | | | 15,278 | | | 10,937 | | | 64,520 | | | Operating income | 8,075 | | | 10,070 | | | 5,875 | | | 2,517 | | | 26,537 | | | Net income | 5,852 | | | 7,936 | | | 4,354 | | | 2,182 | | | 20,324 | | | Net income per share of common stock | | | | | | | | | | Basic (1) | $ | 0.69 | | | $ | 0.93 | | | $ | 0.50 | | | $ | 0.25 | | | $ | 2.37 | | Diluted (1) | $ | 0.69 | | | $ | 0.91 | | | $ | 0.49 | | | $ | 0.25 | | | $ | 2.31 | |
(1) Sum of the quarters may not sum to total year due to rounding.
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