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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 25, 2016
Jun. 27, 2015
Jun. 25, 2016
Jun. 27, 2015
Net Sales $ 277,981 $ 278,724 $ 730,541 $ 716,484
Cost of goods sold(1) [1] 185,895 188,328 505,871 498,037
Gross Profit 92,086 90,396 224,670 218,447
Operating expenses        
Marketing (2) [2] 23,721 23,201 63,714 62,674
Distribution (3) [3] 19,006 20,429 54,784 55,583
Administrative (4) [4] 8,530 7,910 23,857 22,897
Other general expense 392 45 239 67
Total operating expenses 51,649 51,585 142,594 141,221
Operating Income 40,437 38,811 82,076 77,226
Other income (expense)        
Investment income (loss) 981 (53) 3,118 2,579
Interest expense & other (31) (34) (94) (88)
Earnings before income taxes 41,387 38,724 85,100 79,717
Income taxes 14,596 14,262 29,743 29,362
NET EARNINGS $ 26,791 $ 24,462 $ 55,357 $ 50,355
Earnings per diluted share (in dollars per share) $ 1.43 $ 1.30 $ 2.95 $ 2.68
Weighted average number of diluted shares (in shares) 18,705 18,823 18,765 18,815
Earnings per basic share (in dollars per share) $ 1.44 $ 1.31 $ 2.97 $ 2.70
Weighted average number of basic shares (in shares) 18,615 18,691 18,646 18,683
[1] Includes share-based compensation expense of $174 and $445 for the three months and nine months ended June 25, 2016, respectively and $134 and $354 for the three months and nine months ended June 27, 2015.
[2] Includes share-based compensation expense of $264 and $673 for the three months and nine months ended June 25,2016, respectively and $201 and $531 for the three months and nine months ended June 27, 2015.
[3] Includes share-based compensation expense of $13 and $35 for the three months and nine months ended June 25, 2016, respectively and $12 and $33 for the three months and nine months ended June 27, 2015.
[4] Includes share-based compensation expense of $228 and $581 for the three months and nine months ended June 25, 2016, respectively and $269 and $707 for the three months and nine months ended June 27, 2015.