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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Revenues	$ 132,803	$ 146,713
Cost of goods sold	90,051	99,336
Gross profit	42,752	47,377
Operating costs and expenses:
Selling	6,014	6,298
General and administrative	13,813	14,440
Engineering and development	9,554	11,067
Acquisition and integration-related costs		326
Restructuring and business realignment costs	1,499	31
Amortization of intangible assets	3,093	3,115
Total operating costs and expenses	33,973	35,277
Operating income	8,779	12,100
Other expense, net:
Interest expense	3,635	3,388
Other expense (income), net	684	(109)
Total other expense, net	4,319	3,279
Income before income taxes	4,460	8,821
Income tax provision	(903)	(1,919)
Net income	$ 3,557	$ 6,902
Basic earnings per share:
Earnings per share	$ 0.21	$ 0.42
Basic weighted average common shares	16,599	16,394
Diluted earnings per share:
Earnings per share	$ 0.21	$ 0.42
Diluted weighted average common shares	16,638	16,497
Net income	$ 3,557	$ 6,902
Other comprehensive income (loss):
Foreign currency translation adjustment	3,862	(4,408)
Loss on derivatives, net of tax	(625)	(78)
Comprehensive income	$ 6,794	$ 2,416

The aggregate total amount of expenses related to the Engineering of products or services not directly associated with the manufacture or sale of a product line, and the aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility.

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ALLIENT INC 10-Q