Home » Financials » 2009 Annual Report
Consolidated Statements of Income
| (Dollars in thousands except per share data) | 2009 | 2008 | 2007 | |||
|---|---|---|---|---|---|---|
| Sales | $ 546,944 | $ 667,543 | $ 631,010 | |||
| Cost of sales | (401,492) | (513,922) | (484,981) | |||
| Gross profit | 145,452 | 153,621 | 146,029 | |||
| Selling, general and administrative expenses | (99,976) | (98,166) | (97,870) | |||
| Other income, net | 7,448 | 8,222 | 6,030 | |||
| Income from continuing operations before interest, income taxes and equity in (loss)/earnings of joint venture | 52,924 | 63,677 | 54,189 | |||
| Interest income/(expense), net | 588 | 1,533 | 1,927 | |||
| Income from continuing operations before income taxes and equity in (loss)/earnings of joint venture |
53,512 | 65,210 | 56,116 | |||
| Provision for income taxes | (15,517) | (16,955) | (10,359) | |||
| Income from continuing operations before equity in (loss)/earnings of joint venture | 37,995 | 48,255 | 45,757 | |||
| Equity in (loss)/earnings of joint venture, net of taxes | (5,512) | 10,337 | 15,383 | |||
| Income from continuing operations | 32,483 | 58,592 | 61,140 | |||
| Income from discontinued operations, net of taxes | 817 | 6,099 | ||||
| Net income | 33,300 | $ 58,592 | $ 67,239 | |||
| Basic Earnings per share: | ||||||
| Income from continuing operations | 3.54 | $ 6.42 | $ 6.77 | |||
| Income from discontinued operations, net of taxes | .09 | $ .68 | ||||
| Net income | $ 3.63 | $ 6.42 | $ 7.45 | |||
| Diluted earnings per share: | ||||||
| Income from continuing operations | 3.54 | $ 6.39 | $ 6.73 | |||
| Income from discontinued operations, net of taxes | .09 | $ .67 | ||||
| Net income | 3.63 | $ 6.39 | $ 7.40 | |||
| Weighted-average shares (basic) | 9,166,558 | 9,124,557 |
9,029,487 |
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| Weighted-average shares (diluted) | 9,184,771 | 9,169,056 |
9,090,846 |
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The accompanying notes are an integral part of these consolidated financial statements. | ||||||
