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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, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net sales:        
Total net sales $ 338,311 $ 291,759 $ 997,050 $ 874,842
Cost of sales 252,015 213,123 746,188 649,441
Gross profit 86,296 78,636 250,862 225,401
Selling, general and administrative expenses 52,586 44,069 150,803 136,868
Amortization expense 3,667 3,644 10,988 11,093
Income from operations 30,043 30,923 89,071 77,440
Interest expense (2,660) (3,461) (8,127) (12,921)
Interest income 296 306 877 968
Other income (expense), net 36 (333) 2,659 720
Income before income taxes 27,715 27,435 84,480 66,207
Provision for income taxes 10,196 7,402 23,462 17,657
Net Income $ 17,519 $ 20,033 $ 61,018 $ 48,550
Net income per common share:        
Basic (in dollars per share) $ 1.48 $ 1.70 $ 5.16 $ 4.12
Diluted (in dollars per share) $ 1.47 $ 1.69 $ 5.13 $ 4.10
Average common shares:        
Basic (in shares) 11,842 11,788 11,835 11,776
Diluted (in shares) 11,900 11,851 11,895 11,840
Dividends declared (in dollars per share) $ 0.14 $ 0.13 $ 0.42 $ 0.39
Industrial        
Net sales:        
Total net sales $ 218,988 $ 196,241 $ 662,106 $ 608,473
Income from operations 15,951 19,238 52,004 51,453
Agricultural        
Net sales:        
Total net sales 119,323 95,518 334,944 266,369
Income from operations $ 14,092 $ 11,685 $ 37,067 $ 25,987