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Interim Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales:        
Net sales $ 211,489 $ 215,734 $ 422,460 $ 423,532
Cost of sales 159,311 165,069 320,005 327,330
Gross profit 52,178 50,665 102,455 96,202
Selling, general and administrative expenses 34,137 34,230 68,125 67,639
Income from operations 18,041 16,435 34,330 28,563
Interest expense (1,523) (1,848) (2,929) (3,471)
Interest income 56 41 118 93
Other income (expense), net 242 488 (380) 1,348
Income before income taxes 16,816 15,116 31,139 26,533
Provision for income taxes 6,254 5,406 11,918 9,464
Net Income $ 10,562 $ 9,710 $ 19,221 $ 17,069
Net income per common share:        
Basic (in dollars per share) $ 0.93 $ 0.86 $ 1.69 $ 1.51
Diluted (in dollars per share) $ 0.92 $ 0.84 $ 1.67 $ 1.49
Average common shares:        
Basic (in shares) 11,422 11,352 11,405 11,316
Diluted (in shares) 11,550 11,498 11,529 11,467
Dividends declared (in dollars per share) $ 0.09000 $ 0.08000 $ 0.18000 $ 0.16000
Industrial        
Net sales:        
Net sales $ 117,146 $ 118,521 $ 240,424 $ 235,433
Income from operations 9,171 10,100 20,698 19,437
Agricultural        
Net sales:        
Net sales 51,845 52,981 100,507 101,438
Income from operations 6,048 3,722 8,807 4,514
European        
Net sales:        
Net sales 42,498 44,232 81,529 86,661
Income from operations $ 2,822 $ 2,613 $ 4,825 $ 4,612