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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jun. 25, 2016
Jul. 01, 2017
Jun. 25, 2016
Revenue $ 264,664 $ 261,225 $ 437,101 $ 463,233
Less excise taxes 16,734 16,409 27,476 29,590
Net revenue 247,930 244,816 409,625 433,643
Cost of goods sold 113,911 117,940 199,262 215,236
Gross profit 134,019 126,876 210,363 218,407
Advertising, promotional and selling expenses 67,831 63,252 121,585 122,501
General and administrative expenses 19,395 21,799 37,957 42,844
Impairment of assets 1,505 37 1,505 37
Total operating expenses 88,731 85,088 161,047 165,382
Operating income 45,288 41,788 49,316 53,025
Interest income, net 86 20 170 43
Other income (expense), net 129 (206) 57 (425)
Total other income (expense), net 215 (186) 227 (382)
Income before income tax provision 45,503 41,602 49,543 52,643
Income tax provision 16,378 14,981 14,707 18,990
Net income $ 29,125 $ 26,621 $ 34,836 $ 33,653
Net income per common share - basic $ 2.38 $ 2.11 $ 2.82 $ 2.65
Net income per common share - diluted $ 2.35 $ 2.06 $ 2.79 $ 2.58
Weighted-average number of common shares - diluted 12,344 12,830 12,430 12,959
Net income $ 29,125 $ 26,621 $ 34,836 $ 33,653
Other comprehensive income:        
Foreign currency translation adjustment (10) (88) (10) (92)
Comprehensive income $ 29,115 $ 26,533 $ 34,826 $ 33,561
Common Class A        
Net income per common share - basic $ 2.38 $ 2.11 $ 2.82 $ 2.65
Weighted-average number of common shares - basic 9,092 9,181 9,161 9,278
Common Class B        
Net income per common share - basic $ 2.38 $ 2.11 $ 2.82 $ 2.65
Weighted-average number of common shares - basic [1] 3,097 3,367 3,134 3,367
[1] Change in Class B Common Stock resulted from the conversion of 100,000 shares to Class A Common Stock on March 7, 2017, 45,000 shares to Class A Common Stock on November 30, 2016 and 125,000 shares to Class A Common Stock on November 4, 2016, with the ending number of shares reflecting the weighted average for the periods