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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net sales:        
Total net sales $ 285,186 $ 257,125 $ 547,120 $ 495,212
Cost of sales 212,053 190,671 410,679 368,501
Gross profit 73,133 66,454 136,441 126,711
Selling, general and administrative expenses 43,784 39,668 84,486 78,564
Income from operations 29,349 26,786 51,955 48,147
Interest expense (1,935) (1,497) (3,385) (2,834)
Interest income 330 109 503 209
Other expense, net (295) (92) (684) (226)
Income before income taxes 27,449 25,306 48,389 45,296
Provision for income taxes 6,782 6,535 12,469 11,942
Net Income $ 20,667 $ 18,771 $ 35,920 $ 33,354
Net income per common share:        
Basic (in dollars per share) $ 1.76 $ 1.61 $ 3.07 $ 2.87
Diluted (in dollars per share) $ 1.75 $ 1.60 $ 3.05 $ 2.84
Average common shares:        
Basic (in shares) 11,726 11,652 11,712 11,629
Diluted (in shares) 11,798 11,759 11,787 11,749
Dividends declared (in dollars per share) $ 0.12 $ 0.11 $ 0.24 $ 0.22
Industrial        
Net sales:        
Total net sales $ 168,000 $ 150,031 $ 326,425 $ 282,198
Income from operations 20,172 16,165 36,644 27,965
Agricultural        
Net sales:        
Total net sales 55,159 59,071 108,332 117,718
Income from operations 4,234 6,186 6,406 11,439
European        
Net sales:        
Total net sales 62,027 48,023 112,363 95,296
Income from operations $ 4,943 $ 4,435 $ 8,905 $ 8,743