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Consolidated Statements of Net Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Oct. 01, 2016
Sep. 26, 2015
Oct. 01, 2016
Sep. 26, 2015
Revenue, Net [1] $ 280,331 $ 215,510 $ 771,641 $ 647,844
Cost of sales 166,572 129,328 472,861 400,051
Gross profit 113,759 86,182 298,780 247,793
Selling, general and administrative expenses 56,589 37,002 150,047 112,119
Research and development expenses 10,403 7,479 30,884 22,224
Pension settlement expense 30,194 30,194
Amortization of intangibles 4,432 2,923 13,384 8,952
Impairment of goodwill and intangible assets 14,809 14,809
86,233 77,598 209,124 173,490
Operating income 27,526 8,584 89,656 74,303
Interest expense 2,571 922 6,286 3,021
Foreign exchange (gain) loss (4,700) (3,549) (7,114) (1,724)
Other (income) expense, net (778) (1,430) (1,040) (3,758)
Income before income taxes 30,433 12,641 91,524 76,764
Income taxes (369) 1,317 14,281 16,761
Net income $ 30,802 $ 11,324 $ 77,243 $ 60,003
Net income per share (see Note 10):        
Basic (in dollars per share) $ 1.36 $ 0.50 $ 3.43 $ 2.65
Diluted (in dollars per share) $ 1.35 $ 0.50 $ 3.41 $ 2.64
Weighted average shares and equivalent shares outstanding:        
Basic (in shares) 22,578 22,581 22,515 22,623
Diluted (in shares) 22,734 22,693 22,675 22,771
Cash dividends paid per common share (in dollars per share) $ 0.33 $ 0.29 $ 0.91 $ 0.79
[1] Sales by country represent sales to customer or distributor locations.