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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net sales:        
Net sales $ 257,572 $ 240,455 $ 752,784 $ 669,120
Cost of sales 190,800 175,516 559,301 495,338
Gross profit 66,772 64,939 193,483 173,782
Selling, general and administrative expenses 38,523 37,178 117,087 105,463
Income from operations 28,249 27,761 76,396 68,319
Interest expense (1,399) (1,414) (4,233) (4,241)
Interest income 100 100 309 257
Other income (expense) (265) (1,561) (491) (2,734)
Income before income taxes 26,685 24,886 71,981 61,601
Provision for income taxes 3,142 8,294 15,084 20,526
Net Income $ 23,543 $ 16,592 $ 56,897 $ 41,075
Net income per common share:        
Basic (in dollars per share) $ 2.01 $ 1.43 $ 4.88 $ 3.56
Diluted (in dollars per share) $ 2.00 $ 1.42 $ 4.84 $ 3.52
Average common shares:        
Basic (in shares) 11,689 11,586 11,649 11,535
Diluted (in shares) 11,777 11,708 11,758 11,666
Dividends declared (in dollars per share) $ 0.11 $ 0.10 $ 0.33 $ 0.30
Industrial        
Net sales:        
Net sales $ 156,721 $ 132,388 $ 438,919 $ 375,546
Income from operations 18,351 14,941 46,316 38,563
Agricultural        
Net sales:        
Net sales 61,464 64,923 179,182 170,921
Income from operations 6,608 8,598 18,047 19,315
European        
Net sales:        
Net sales 39,387 43,144 134,683 122,653
Income from operations $ 3,290 $ 4,222 $ 12,033 $ 10,441