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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 25, 2011
Jun. 26, 2010
Jun. 25, 2011
Jun. 26, 2010
Product sales $ 589,208 $ 448,007 $ 1,090,376 $ 787,827
Services sales 79,401 33,552 146,182 61,134
Net sales 668,609 481,559 1,236,558 848,961
Product cost of sales 447,167 332,290 832,167 580,933
Services cost of sales 53,460 20,623 99,916 38,652
Cost of sales 500,627 352,913 932,083 619,585
Gross profit 167,982 128,646 304,475 229,376
Selling, general and administrative expenses 99,363 91,345 190,555 160,425
Operating income 68,619 37,301 113,920 68,951
Other income (expenses):        
Interest expense (10,783) (8,429) (19,044) (14,391)
Interest income 2,001 1,092 3,778 1,448
Other 504 47 894 (30)
Total other income (expenses) (8,278) (7,290) (14,372) (12,973)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 60,341 30,011 99,548 55,978
Income tax expense (benefit):        
Current 24,533 17,252 37,037 23,958
Deferred (10,982) (5,570) (10,198) (2,830)
Total Income tax expense (benefit) 13,551 11,682 26,839 21,128
Earnings before equity in earnings of nonconsolidated subsidiaries 46,790 18,329 72,709 34,850
Equity in earnings of nonconsolidated subsidiaries 1,201 805 2,155 919
Net earnings 47,991 19,134 74,864 35,769
Less: Earnings attributable to noncontrolling interests (2,164) (2,019) (3,428) (2,191)
Net earnings attributable to Valmont Industries, Inc. $ 45,827 $ 17,115 $ 71,436 $ 33,578
Earnings per share attributable to Valmont Industries, Inc.-Basic (in dollars per share) $ 1.74 $ 0.66 $ 2.72 $ 1.29
Earnings per share attributable to Valmont Industries, Inc.-Diluted (in dollars per share) $ 1.72 $ 0.65 $ 2.69 $ 1.27
Cash dividends per share (in dollars per share) $ 0.180 $ 0.165 $ 0.345 $ 0.315
Weighted average number of shares of common stock outstanding-Basic (000 omitted) (in shares) 26,333 26,087 26,302 26,059
Weighted average number of shares of common stock outstanding-Diluted (000 omitted) (in shares) 26,585 26,448 26,561 26,434