Home » Financials » 2005 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2005 | 2004 | 2003 | |||
| Sales | $ 704,574 | $ 605,853 | $ 600,495 | |||
| cost of sales | (522,467) | (457,442) | (434,007) | |||
| Gross profit | 182,107 | 148,411 | 166,488 | |||
| Selling, general and administrative expenses | (145,954) | (137,468) | (127,392) | |||
| Pension plan curtailment/settlement | — | (12,817) | — | |||
| Other income, net | 7,141 | 17,861 | 10,852 | |||
| Income before interest, income taxes and equity in earnings of joint venture | 43,294 | 15,987 | 49,948 | |||
| Interest expense, net | (5,219) | (5,313) | (6,645) | |||
| Income before income taxes and equity in earnings of joint venture | 38,075 | 10,674 | 43,303 | |||
| Equity in earnings of joint venture, net of taxes | (14,470) | (8,006) | (14,017) | |||
| Income before equity in earnings of joint venture | 23,605 | 2,668 | 29,286 | |||
| Provision for income taxes | 9,005 | 10,791 | 614 | |||
| Net income | $ 32,610 | $ 13,459 | $ 29,900 | |||
| Net income per share (basic) | $ 3.88 | $ 1.63 | $ 3.77 | |||
| Net income per share (diluted) | $ 3.80 | $ 1.59 | $ 3.67 | |||
| Weighted-average shares (basic) | 8,410,563 | 8,270,487 | 7,925,229 | |||
| Weighted-average shares (diluted) | 8,579,194 | 8,448,987 | 8,149,460 | |||
The accompanying notes are an integral part of these consolidated financial statements. | ||||||
