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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net sales:        
Net sales $ 240,455 $ 216,766 $ 669,120 $ 639,226
Cost of sales 175,516 162,055 495,338 482,060
Gross profit 64,939 54,711 173,782 157,166
Selling, general and administrative expenses 37,328 33,699 105,913 101,824
Income from operations 27,611 21,012 67,869 55,342
Interest expense (1,414) (1,405) (4,241) (4,334)
Interest income 100 43 257 161
Other income (expense), net (1,411) 127 (2,284) (253)
Income before income taxes 24,886 19,777 61,601 50,916
Provision for income taxes 8,294 6,541 20,526 18,459
Net Income $ 16,592 $ 13,236 $ 41,075 $ 32,457
Net income per common share:        
Basic (in dollars per share) $ 1.43 $ 1.15 $ 3.56 $ 2.84
Diluted (in dollars per share) $ 1.42 $ 1.14 $ 3.52 $ 2.81
Average common shares:        
Basic (in shares) 11,586 11,460 11,535 11,424
Diluted (in shares) 11,708 11,595 11,666 11,551
Dividends declared (in dollars per share) $ 0.1000 $ 0.09000 $ 0.3000 $ 0.27000
Industrial        
Net sales:        
Net sales $ 132,388 $ 121,205 $ 375,546 $ 361,629
Income from operations 14,826 9,318 38,238 30,016
Agricultural        
Net sales:        
Net sales 64,923 56,443 170,921 156,950
Income from operations 8,563 7,928 19,190 16,735
European        
Net sales:        
Net sales 43,144 39,118 122,653 120,647
Income from operations $ 4,222 $ 3,766 $ 10,441 $ 8,591