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Consolidated Statements of Net Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Jun. 27, 2015
Jun. 28, 2014
Net Sales [1] $ 222,021 $ 220,908 $ 432,334 $ 427,767
Cost of sales 136,740 137,913 270,723 266,278
Gross profit 85,281 82,995 161,611 161,489
Selling, general and administrative expenses 38,772 38,328 75,117 72,499
Research and development expenses 7,361 7,810 14,745 15,384
Amortization of intangibles 2,977 3,138 6,030 6,297
49,110 49,276 95,892 94,180
Operating income 36,171 33,719 65,719 67,309
Interest expense 948 1,228 2,099 2,444
Foreign exchange (gain) loss (1,292) 2,375 1,825 2,123
Other (income) expense, net (1,202) (1,446) (2,328) (2,632)
Income before income taxes 37,717 31,562 64,123 65,374
Income taxes 9,033 6,984 15,444 15,407
Net income $ 28,684 $ 24,578 $ 48,679 $ 49,967
Net income per share (see Note 7):        
Basic (in dollars per share) $ 1.26 $ 1.09 $ 2.15 $ 2.22
Diluted (in dollars per share) $ 1.26 $ 1.08 $ 2.13 $ 2.20
Weighted average shares and equivalent shares outstanding:        
Basic (in shares) 22,691 22,579 22,645 22,536
Diluted (in shares) 22,835 22,750 22,810 22,738
Cash dividends paid per common share (in dollars per share) $ 0.25 $ 0.22 $ 0.50 $ 0.44
[1] Sales by country represent sales to customer or distributor locations.