2002 2001 2000 Net sales $ 480,589,793 $ 455,839,164 $ 520,687,851 Cost of sales 396,659,249 364,915,606 397,813,019 Gross profit 83,930,544 90,923,558 122,874,832 Selling, general and administrative expenses 72,407,228 71,690,984 69,011,339 Relocation and start-up expenses 3,276,559 Research and development expenses 7,630,975 7,448,332 6,725,884 Income from operations 615,782 11,784,242 47,137,609 Other income (expense): Interest expense (10,474,350) (9,367,054) (8,652,339) Interest income 1,632,780 1,585,039 2,239,786 Amortization of goodwill and other intangible assets (141,139) (2,202,677) (2,032,724) Other income - net 1,241,946 2,039,420 4,234,303 Equity in loss of joint venture (241,922) (195,781) Income (loss) before income taxes (7,124,981) 3,597,048 42,730,854 Income taxes (2,511,266) 1,480,748 16,441,440 Income (loss) before minority interest (4,613,715) 2,116,300 26,289,414 Minority interest 92,211 123,878 8,328 Net income (loss) $ (4,705,926) $ 1,992,422 $ 26,281,086 Earnings per Common Share Net income (loss): Basic  $ (0.24) $ 0.10 $ 1.37 Diluted (0.24) 0.10 1.33 Weighted average number of  common shares outstanding: Basic 19,658,032 19,441,818 19,221,754 Diluted 19,658,032 19,753,226 19,721,288 Year Ended December 31, See Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF OPERATIONS