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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net sales:      
Net sales $ 1,008,822 $ 912,380 $ 844,748
Cost of sales 752,707 677,687 639,649
Gross profit 256,115 234,693 205,099
Selling, general and administrative expenses 155,027 145,955 137,479
Income from operations 101,088 88,738 67,620
Interest expense (5,493) (4,839) (5,914)
Interest income 410 336 214
Other income (1,474) (1,868) 269
Income before income taxes 94,531 82,367 62,189
Provision for income taxes 21,045 38,052 22,144
Net income $ 73,486 $ 44,315 $ 40,045
Net income per common share:      
Basic (in dollars per share) $ 6.30 $ 3.84 $ 3.50
Diluted (in dollars per share) $ 6.25 $ 3.79 $ 3.46
Average common shares:      
Basic (in shares) 11,660 11,549 11,434
Diluted (in shares) 11,761 11,682 11,565
Industrial      
Net sales:      
Net sales $ 598,930 $ 522,706 $ 484,088
Income from operations 64,213 51,914 35,984
Agricultural      
Net sales:      
Net sales 235,069 227,389 205,834
Income from operations 22,649 24,059 20,720
European      
Net sales:      
Net sales 174,823 162,285 154,826
Income from operations $ 14,226 $ 12,765 $ 10,916