Home » Financials » 2008 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2008 | 2007 | 2006 | |||
| Sales | $ 667,543 | $ 631,010 | $ 549,180 | |||
| cost of sales | (513,922) | (484,981) | (416,791) | |||
| Gross profit | 153,621 | 146,029 | 132,389 | |||
| Selling, general and administrative expenses | (98,166) | (97,870) | (94,689) | |||
| Other income, net | 8,222 | 6,030 | 11,397 | |||
| Income from continuing operations before interest, income taxes and equity in earnings of joint venture | 63,677 | 54,189 | 49,097 | |||
| Interest income/(expense), net | 1,533 | 1,927 | (1,682) | |||
| Income from continuing operations before income taxes and equity in earnings of joint venture | 65,210 | 56,116 | 47,415 | |||
| Provision for income taxes | (16,955) | (10,359) | (10,905) | |||
| Income from continuing operations before equity in earnings of joint venture | 48,255 | 45,757 | 36,510 | |||
| Equity in earnings of joint venture, net of taxes | 10,337 | 15,383 | 13,550 | |||
| Income from continuing operations | 58,592 | 61,140 | 50,060 | |||
| Income from discontinued operations, net of taxes | 6,099 | 2,140 | ||||
| Net income | $ 58,592 | $ 67,239 | $ 52,200 | |||
| Basic Earnings per share: | ||||||
| Income from continuing operations | $ 6.42 | $ 6.77 | $ 5.73 | |||
| Income from discontinued operations, net of taxes | $ .68 | $ .25 | ||||
| Net income | $ 6.42 | $ 7.45 | $ 5.98 | |||
| Diluted earnings per share: | ||||||
| Income from continuing operations | $ 6.39 | $ 6.73 | $ 5.64 | |||
| Income from discontinued operations, net of taxes | $ .67 | $ .24 | ||||
| Net income | $ 6.39 | $ 7.40 | $ 5.88 | |||
| Weighted-average shares (basic) | 9,124,557 |
9,029,487 |
8,731,839 |
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| Weighted-average shares (diluted) | 9,169,056 |
9,090,846 |
8,871,695 |
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The accompanying notes are an integral part of these consolidated financial statements. | ||||||
