Home » Financials » 2007 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2007 | 2006 | 2005 | |||
| Sales | $ 631,010 | $ 549,180 | $ 494,767 | |||
| cost of sales | (484,981) | (416,791) | (369,557) | |||
| Gross profit | 146,029 | 132,389 | 125,210 | |||
| Selling, general and administrative expenses | (97,870) | (94,689) | (90,283) | |||
| Other income, net | 6,030 | 11,397 | 2,137 | |||
| Income from continuing operations before interest, income taxes and equity in earnings of joint venture | 54,189 | 49,097 | 37,064 | |||
| Interest income/(expense), net | 1,927 | (1,682) | (5,520) | |||
| Income from continuing operations before income taxes and equity in earnings of joint venture | 56,116 | 47,415 | 31,544 | |||
| Provision for income taxes | (10,359) | (10,905) | (11,040) | |||
| Income from continuing operations before equity in earnings of joint venture | 45,757 | 36,510 | 20,504 | |||
| Equity in earnings of joint venture, net of taxes | 15,383 | 13,550 | 9,005 | |||
| Income from continuing operations | 61,140 | 50,060 | 29,509 | |||
| Income from discontinued operations, net of taxes | 6,099 | 2,140 | 3,101 | |||
| Net income | $ 67,239 | $ 52,200 | $ 32,610 | |||
| Basic Earnings per share: | ||||||
| Income from continuing operations | $ 6.77 | $ 5.73 | $ 3.51 | |||
| Income from discontinued operations, net of taxes | $ .68 | $ .25 | $ .37 | |||
| Net income | $ 7.45 | $ 5.98 | $ 3.88 | |||
| Diluted earnings per share: | ||||||
| Income from continuing operations | $ 6.73 | $ 5.64 | $ 3.44 | |||
| Income from discontinued operations, net of taxes | $ .67 | $ .24 | $ .36 | |||
| Net income | $ 7.40 | $ 5.88 | $ 3.80 | |||
| Weighted-average shares (basic) | 9,029,487 | 8,731,839 | 8,410,563 | |||
| Weighted-average shares (diluted) | 9,090,846 | 8,871,695 | 8,579,194 | |||
The accompanying notes are an integral part of these consolidated financial statements. | ||||||
