Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.24.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 860,488 $ 669,448 $ 481,384
Costs and operating expenses:      
Selling, general and administrative expenses 7,619 3,635 3,454
Amortization of intangible assets 14,378 15,735 15,755
Total costs and operating expenses 772,492 615,844 484,089
Operating income (loss) 87,996 53,604 (2,705)
Interest expense, net 31,083 17,893 12,063
Income (loss) from continuing operations before income taxes 56,913 35,711 (14,768)
Provision (benefit) for income taxes 13,761 9,052 (3,768)
Net income (loss) from continuing operations 43,152 [1] 26,659 (11,000) [1]
(Loss) income from discontinued operations, net of tax (4,018) 1,400 18,966
Net income [1] $ 39,134 $ 28,059 $ 7,966
Basic      
Continuing operations (usd per share) $ 3.05 $ 2.09 $ (0.88)
Discontinued operations (usd per share) (0.28) 0.11 1.51
Basic earnings (loss) per share (usd per share) 2.77 2.20 0.63
Diluted      
Continuing operations (usd per share) 3.04 2.08 (0.87)
Discontinued operations (usd per share) (0.28) 0.11 1.50
Diluted earnings (loss) per share (usd per share) $ 2.76 $ 2.19 $ 0.63
Weighted average shares outstanding:      
Basic weighted average shares outstanding (in shares) 14,130,334 12,780,117 12,551,459
Diluted weighted average shares outstanding (in shares) 14,184,729 12,827,894 12,632,874
Products      
Revenues:      
Total revenues $ 693,035 $ 554,010 $ 397,343
Costs and operating expenses:      
Costs and operating expenses 605,682 495,965 382,056
Services      
Revenues:      
Total revenues 167,453 115,438 84,041
Costs and operating expenses:      
Costs and operating expenses $ 144,813 $ 100,509 $ 82,824
[1]
(a) The cash flows related to discontinued operations and held-for-sale assets and liabilities have not been segregated and remain included in the major classes of assets and liabilities. Accordingly, the Consolidated Statements of Cash Flows include the results of continuing and discontinued operations.