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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, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net sales:        
Total net sales $ 396,214 $ 347,550 $ 758,219 $ 658,739
Cost of sales 296,497 259,410 571,861 494,173
Gross profit 99,717 88,140 186,358 164,566
Selling, general and administrative expenses 55,009 50,887 108,644 98,217
Amortization expense 3,792 3,663 7,679 7,321
Income from operations 40,916 33,590 70,035 59,028
Interest expense (3,189) (2,854) (5,836) (5,467)
Interest income 57 293 129 581
Other income (expense), net (134) 3,253 (1,886) 2,623
Income before income taxes 37,650 34,282 62,442 56,765
Provision for income taxes 9,178 8,245 15,500 13,266
Net Income $ 28,472 $ 26,037 $ 46,942 $ 43,499
Net income per common share:        
Basic (in dollars per share) $ 2.39 $ 2.20 $ 3.95 $ 3.68
Diluted (in dollars per share) $ 2.39 $ 2.19 $ 3.94 $ 3.66
Average common shares:        
Basic (in shares) 11,880 11,842 11,870 11,831
Diluted (in shares) 11,938 11,902 11,927 11,892
Dividends declared (in dollars per share) $ 0.18 $ 0.14 $ 0.36 $ 0.28
Vegetation Management        
Net sales:        
Total net sales $ 255,003 $ 214,665 $ 476,009 $ 398,549
Income from operations 32,796 22,664 51,130 39,414
Industrial Equipment        
Net sales:        
Total net sales 141,211 132,885 282,210 260,190
Income from operations $ 8,120 $ 10,926 $ 18,905 $ 19,614