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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net sales:        
Total net sales $ 347,550 $ 268,635 $ 658,739 $ 583,083
Cost of sales 259,410 200,810 494,173 436,318
Gross profit 88,140 67,825 164,566 146,765
Selling, general and administrative expenses 50,887 41,551 98,217 92,799
Amortization expense 3,663 3,613 7,321 7,449
Income from operations 33,590 22,661 59,028 46,517
Interest expense (2,854) (3,941) (5,467) (9,460)
Interest income 293 306 581 662
Other income (expense), net 3,253 (1,288) 2,623 1,053
Income before income taxes 34,282 17,738 56,765 38,772
Provision for income taxes 8,245 4,749 13,266 10,255
Net Income $ 26,037 $ 12,989 $ 43,499 $ 28,517
Net income per common share:        
Basic (in dollars per share) $ 2.20 $ 1.10 $ 3.68 $ 2.42
Diluted (in dollars per share) $ 2.19 $ 1.10 $ 3.66 $ 2.41
Average common shares:        
Basic (in shares) 11,842 11,778 11,831 11,769
Diluted (in shares) 11,902 11,842 11,892 11,835
Dividends declared (in dollars per share) $ 0.14 $ 0.13 $ 0.28 $ 0.26
Industrial        
Net sales:        
Total net sales $ 231,207 $ 182,257 $ 443,118 $ 412,232
Income from operations 19,934 13,898 36,025 32,215
Agricultural        
Net sales:        
Total net sales 116,343 86,378 215,621 170,851
Income from operations $ 13,656 $ 8,763 $ 23,003 $ 14,302