v3.23.3
Consolidated Condensed Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 02, 2023
Oct. 03, 2022
Oct. 02, 2023
Oct. 03, 2022
Income Statement [Abstract]        
Net sales $ 572,582 $ 671,080 [1] $ 1,663,528 $ 1,877,890 [1]
Cost of goods sold 459,312 542,513 1,365,628 1,541,327
Gross profit 113,270 128,567 297,900 336,563
Operating expenses:        
Selling and marketing 18,763 19,824 58,245 55,653
General and administrative 38,916 40,743 111,829 121,863
Research and development 6,173 7,322 19,682 18,110
Amortization of definite-lived intangibles 11,429 10,273 37,245 26,822
Impairment of goodwill 44,100 0 44,100 0
Restructuring charges 4,091 627 19,061 1,267
Total operating expenses 123,472 78,789 290,162 223,715
Operating (loss) income (10,202) 49,778 7,738 112,848
Other (expense) income:        
Interest expense (10,101) (10,939) (34,751) (33,011)
Loss on extinguishment of debt 0 0 (1,154) 0
Gain on sale of subsidiary 0 0 1,270 0
Other, net 3,044 10,324 9,310 19,932
Total other expense, net (7,057) (615) (25,325) (13,079)
(Loss) income before income taxes (17,259) 49,163 (17,587) 99,769
Income tax provision (19,807) (5,635) (18,469) (11,203)
Net (loss) income $ (37,066) $ 43,528 $ (36,056) $ 88,566
(Loss) earnings per share:        
Basic (loss) earnings per share $ (0.36) $ 0.43 $ (0.35) $ 0.87
Diluted (loss) earnings per share $ (0.36) $ 0.42 $ (0.35) $ 0.85
[1] Amended for Telephonics integration.

Source