Home » Financials » 2003 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2003 | 2002 | 2001 | ||||
| Sales | $ 600,495 | $ 539,473 | $ 551,396 | ||||
| cost of sales | (434,007) | (397,590) | (413,312) | ||||
| Gross profit | 166,488 | 141,883 | 138,084 | ||||
| Selling, general and administrative expenses | (127,392) | (105,898) | (101,828) | ||||
| Equity in earnings of joint venture | 667 | 3,597 | 2,279 | ||||
| Other income, net | 10,852 | 9,767 | 10,269 | ||||
| Income before interest and income taxes | 50,615 | 49,349 | 48,804 | ||||
| Interest expense, net | (6,645) | (6,836) | (10,213) | ||||
| Income before income taxes | 43,970 | 42,513 | 38,591 | ||||
| Provision for income taxes | (14,070) | (14,454) | (10,850) | ||||
| Net income | $ 29,900 | $ 28,059 | $ 27,741 | ||||
| Net income per share (basic) | $ 3.77 | $ 3.61 | $ 3.58 | ||||
| Net income per share (diluted) | $ 3.67 | $ 3.49 | $ 3.45 | ||||
| Weighted-average shares (basic) | 7,925,229 | 7,772,032 | 7,742,690 | ||||
| Weighted-average shares (diluted) | 8,149,460 | 8,052,164 | 8,048,588 | ||||
The accompanying notes are an integral part of these consolidated financial statements. | |||||||
