Home » Financials » 2006 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2006 | 2005 | 2004 | |||
| Sales | $ 549,180 | $ 494,767 | $ 406,230 | |||
| cost of sales | (416,791) | (369,557) | (314,021) | |||
| Gross profit | 132,389 | 125,210 | 92,209 | |||
| Selling, general and administrative expenses | (94,689) | (90,283) | (83,553) | |||
| Pension plan curtailment/settlement | — | — | (12,817) | |||
| Other income, net | 11,397 | 2,137 | 14,832 | |||
| Income before interest, income taxes and equity in earnings of joint venture | 49,097 | 37,064 | 10,671 | |||
| Interest expense, net | (1,682) | (5,520) | (5,522) | |||
| Income before income taxes and equity in earnings of joint venture | 47,415 | 31,544 | 5,149 | |||
| Provision for income taxes | (10,905) | (11,040) | (4,789) | |||
| Income before equity in earnings of joint venture | 36,510 | 20,504 | 360 | |||
| Equity in earnings of joint venture, net of taxes | 13,550 | 9,005 | 10,791 | |||
| Income from continuing operations | 50,060 | 29,509 | 11,151 | |||
| Income from discontinued operations, net of taxes | 2,140 | 3,101 | 2,308 | |||
| Net income | $ 52,200 | $ 32,610 | $ 13,459 | |||
| Basic Earnings per share: | ||||||
| Income from continuing operations | $ 5.73 | $ 3.51 | $ 1.35 | |||
| Income from discontinued operations, net of taxes | $ .25 | $ .37 | $ .28 | |||
| Net income | $ 5.98 | $ 3.88 | $ 1.63 | |||
| Net income per share (diluted): | ||||||
| Income from continuing operations | $ 5.64 | $ 3.44 | $ 1.32 | |||
| Income from discontinued operations, net of taxes | $ .24 | $ .36 | $ .27 | |||
| Net income | $ 5.88 | $ 3.80 | $ 1.59 | |||
| Weighted-average shares (basic) | 8,731,839 | 8,410,563 | 8,270,487 | |||
| Weighted-average shares (diluted) | 8,871,695 | 8,579,194 | 8,448,987 | |||
The accompanying notes are an integral part of these consolidated financial statements. | ||||||
