Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.20.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Revenues $ 752,627 $ 697,218 $ 760,113
Costs and operating expenses:      
Selling, general and administrative expenses 4,192 3,714 2,429
Amortization of intangible assets 19,317 16,017 16,017
Total costs and operating expenses 692,370 644,688 705,788
Gain on sale of contract 0 1,700 0
Operating income 60,257 54,230 54,325
Interest expense, net 13,830 8,982 9,240
Income before income taxes 46,427 45,248 45,085
Provision for income taxes 9,403 10,168 5,989
Net income $ 37,024 $ 35,080 $ 39,096
Basic earnings per share (in dollars per share) $ 3.38 $ 3.23 $ 3.61
Basic weighted average shares outstanding (in shares) 10,957,750 10,876,201 10,834,562
Diluted earnings per share (in dollars per share) $ 3.35 $ 3.21 $ 3.60
Diluted weighted average shares outstanding (in shares) 11,044,731 10,936,057 10,867,834
Products      
Revenues:      
Revenues $ 376,633 $ 360,505 $ 350,129
Costs and operating expenses:      
Costs and operating expenses 321,312 303,881 291,769
Services      
Revenues:      
Revenues 375,994 336,713 409,984
Costs and operating expenses:      
Costs and operating expenses $ 347,549 $ 321,076 $ 395,573