XML 14 R1.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 24, 2011
Sep. 25, 2010
Sep. 24, 2011
Sep. 25, 2010
Product sales$ 595,064$ 492,997$ 1,685,440$ 1,280,824
Services sales77,12834,834223,31095,968
Net sales672,192527,8311,908,7501,376,792
Product cost of sales453,462374,6781,285,629955,611
Services cost of sales51,34020,632151,25659,284
Cost of sales504,802395,3101,436,8851,014,895
Gross profit167,390132,521471,865361,897
Selling, general and administrative expenses95,35785,378285,912245,803
Operating income72,03347,143185,953116,094
Other income (expenses):    
Interest expense(7,671)(8,487)(26,715)(22,878)
Interest income3,1411,7336,9193,181
Other(1,670)58(776)28
Total other income (expenses)(6,200)(6,696)(20,572)(19,669)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries65,83340,447165,38196,425
Income tax expense (benefit):    
Current25,11915,69462,15639,652
Deferred(1,346)(1,914)(11,544)(4,744)
Total income tax expense (benefit)23,77313,78050,61234,908
Earnings before equity in earnings of nonconsolidated subsidiaries42,06026,667114,76961,517
Equity in earnings of nonconsolidated subsidiaries2,3541,0684,5091,987
Net earnings44,41427,735119,27863,504
Less: Earnings attributable to noncontrolling interests(2,273)(1,800)(5,701)(3,991)
Net earnings attributable to Valmont Industries, Inc.$ 42,141$ 25,935$ 113,577$ 59,513
Earnings per share attributable to Valmont Industries, Inc.-Basic (in dollars per share)$ 1.60$ 0.99$ 4.32$ 2.28
Earnings per share attributable to Valmont Industries, Inc.-Diluted (in dollars per share)$ 1.59$ 0.98$ 4.28$ 2.25
Cash dividends per share (in dollars per share)$ 0.180$ 0.165$ 0.525$ 0.480
Weighted average number of shares of common stock outstanding-Basic (000 omitted) (in shares)26,35126,13326,31826,084
Weighted average number of shares of common stock outstanding-Diluted (000 omitted) (in shares)26,57926,40426,56726,420