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Consolidated Statements of Net Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Jul. 02, 2016
Jun. 27, 2015
Revenue, Net [1] $ 271,912 $ 222,021 $ 491,310 $ 432,334
Cost of sales 174,046 136,740 306,289 270,723
Gross profit 97,866 85,281 185,021 161,611
Selling, general and administrative expenses 51,092 38,772 93,458 75,117
Research and development expenses 11,916 7,361 20,481 14,745
Amortization of intangibles 5,156 2,977 8,952 6,030
68,164 49,110 122,891 95,892
Operating income 29,702 36,171 62,130 65,719
Interest expense 1,670 948 3,715 2,099
Foreign exchange (gain) loss (6,237) (1,292) (2,414) 1,825
Other (income) expense, net 255 (1,202) (262) (2,328)
Income before income taxes 34,014 37,717 61,091 64,123
Income taxes 6,862 9,033 14,650 15,444
Net income $ 27,152 $ 28,684 $ 46,441 $ 48,679
Net income per share (see Note 9):        
Basic (in dollars per share) $ 1.21 $ 1.26 $ 2.07 $ 2.15
Diluted (in dollars per share) $ 1.20 $ 1.26 $ 2.05 $ 2.13
Weighted average shares and equivalent shares outstanding:        
Basic (in shares) 22,528 22,691 22,483 22,645
Diluted (in shares) 22,674 22,835 22,647 22,810
Cash dividends paid per common share (in dollars per share) $ 0.29 $ 0.25 $ 0.58 $ 0.50
[1] Sales by country represent sale to customer or distributor locations.