Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)        
Net sales $ 111,554 $ 98,654 $ 334,192 $ 323,751
Cost of goods sold 67,814 59,346 207,042 192,256
Gross profit 43,740 39,308 127,150 131,495
Operating expenses        
Selling, general and administrative 31,732 27,673 118,431 87,168
Restructuring and transaction costs 1,578 (49) 3,380 1,491
Related party expense 112 142 1,346 437
Total operating expenses 33,422 27,766 123,157 89,096
Operating income 10,318 11,542 3,993 42,399
Other expense        
Interest expense (1,567) (3,464) (4,496) (14,129)
Loss on extinguishment of debt   (15,155)   (15,155)
Other expense, net (1,851) (352) (2,812) (881)
Total other expense, net (3,418) (18,971) (7,308) (30,165)
Income (loss) before provision for income taxes 6,900 (7,429) (3,315) 12,234
(Provision) benefit for income taxes (1,959) 2,123 2,536 (3,861)
Net income (loss) $ 4,941 $ (5,306) $ (779) $ 8,373
Net income (loss) per share:        
Basic $ 0.13 $ (0.19) $ (0.02) $ 0.30
Diluted $ 0.13 $ (0.19) $ (0.02) $ 0.30
Weighted average shares outstanding:        
Basic 37,289,880 27,483,350 35,697,891 27,483,350
Diluted 37,747,613 27,483,350 35,697,891 27,483,350
Net income (loss) $ 4,941 $ (5,306) $ (779) $ 8,373
Other comprehensive (loss) income:        
Unrealized holding gains, net of tax 2,350 89 6,414 89
Reclassification adjustments for gains included in net loss, net of tax (252) 1 (106) 1
Total unrealized gains on interest rate swaps, net of tax 2,098 90 6,308 90
Foreign currency translation adjustments, net of tax (2,839) (515) (5,237) 23
Other comprehensive (loss) income (741) (425) 1,071 113
Comprehensive income (loss), net of tax $ 4,200 $ (5,731) $ 292 $ 8,486