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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Sales $ 87,852 $ 83,711 $ 267,089 $ 243,076
Less: excise taxes 1,519 3,820 7,834 5,958
Net sales 86,333 79,891 259,255 237,118
Cost of sales [1] 67,708 64,770 202,764 189,420
Gross profit 18,625 15,121 56,491 47,698
Selling, general and administrative expenses 8,154 6,981 24,114 19,706
Other operating income, net 0 (3,385) 0 (3,385)
Operating income 10,471 11,525 32,377 31,377
Gain on sale of equity method investment 11,381 0 11,381 0
Equity method investment earnings (loss) 0 664 (348) 2,260
Interest expense, net (224) (341) (934) (980)
Income before income taxes 21,628 11,848 42,476 32,657
Income tax expense 7,491 2,316 13,292 9,758
Net income 14,137 9,532 29,184 22,899
Income attributable to participating securities 414 294 806 711
Net income attributable to common shareholders and used in EPS calculation $ 13,723 $ 9,238 $ 28,378 $ 22,188
Share information:        
Diluted weighted average common shares (in shares) 16,751,346 16,653,717 16,735,378 16,626,024
Basic and diluted earnings per common share (in dollars per share) $ 0.82 $ 0.55 $ 1.70 $ 1.33
Dividends and dividend equivalents per common share (in dollars per share) $ 0.89 $ 0.02 $ 0.97 $ 0.10
[1] Includes related party purchases of $0 and $6,700 for the quarters ended September 30, 2017 and 2016, respectively. Includes related party purchases of $18,425 and $19,639 for the year to date periods ended September 30, 2017 and 2016, respectively.