Home » Financials » 2004 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2004 | 2003 | 2002 | |||
| Sales | $ 605,853 | $ 600,495 | $ 539,473 | |||
| cost of sales | (457,442) | (434,007) | (397,590) | |||
| Gross profit | 148,411 | 166,488 | 141,883 | |||
| Selling, general and administrative expenses | (137,468) | (127,392) | (105,898) | |||
| Pension plan curtailment/settlement | (12,817) | — | — | |||
| Other income, net | 17,861 | 10,852 | 9,767 | |||
| Income before interest, income taxes and equity in earnings of joint venture | 15,987 | 49,948 | 45,752 | |||
| Interest expense, net | (5,313) | (6,645) | (6,836) | |||
| Income before income taxes and equity in earnings of joint venture | 10,674 | 43,303 | 38,916 | |||
| Equity in earnings of joint venture, net of taxes | (8,006) | (14,017) | (14,166) | |||
| Income before equity in earnings of joint venture | 2,668 | 29,286 | 24,750 | |||
| Provision for income taxes | 10,791 | 614 | 3,309 | |||
| Net income | $ 13,459 | $ 29,900 | $ 28,059 | |||
| Net income per share (basic) | $ 1.63 | $ 3.77 | $ 3.61 | |||
| Net income per share (diluted) | $ 1.59 | $ 3.67 | $ 3.49 | |||
| Weighted-average shares (basic) | 8,270,487 | 7,925,229 | 7,772,032 | |||
| Weighted-average shares (diluted) | 8,448,987 | 8,149,460 | 8,052,164 | |||
The accompanying notes are an integral part of these consolidated financial statements. | ||||||
