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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net sales:    
Total net sales $ 314,448 $ 261,934
Cost of sales 235,508 198,626
Gross profit 78,940 63,308
Selling, general and administrative expenses 51,248 39,847
Amortization expenses 3,836 855
Income from operations 23,856 22,606
Interest expense (5,519) (1,450)
Interest income 356 173
Other income (expense), net 2,341 (389)
Income before income taxes 21,034 20,940
Provision for income taxes 5,506 5,687
Net Income $ 15,528 $ 15,253
Net income per common share:    
Basic (in dollars per share) $ 1.32 $ 1.30
Diluted (in dollars per share) $ 1.31 $ 1.30
Average common shares:    
Basic (in shares) 11,761 11,698
Diluted (in shares) 11,827 11,777
Dividends declared (in dollars per share) $ 0.13 $ 0.12
Industrial    
Net sales:    
Total net sales $ 229,975 $ 173,530
Income from operations 18,123 16,947
Agricultural    
Net sales:    
Total net sales 84,473 88,404
Income from operations $ 5,733 $ 5,659